Thomas oversees TVA finances
TVA’s executive vice president, John Thomas III, who headed a management revamp for the Tennessee Valley Authority in the past year, has been named chief financial officer.
Mr. Thomas succeeds Kim Greene who was moved to the newly created position of group president for strategy and external relations in January. Mr. Thomas joined TVA in 2005 after working in key financial posts for Benson Security Systems, Progress Fuels Corp. and Progress Ventures Inc.
In his current job as head of all financial operations for TVA, Mr. Thomas will be paid a base salary of $520,000 and will be eligible to earn another $1.06 million in incentives and deferred benefits, according to a TVA regulatory filing.
Germans favor Saxony official
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The German government has proposed Christian Wulff, the conservative state prime minister of Lower Saxony, as successor to Horst Koehler, who resigned as president earlier this week.
The 50-year-old politician was named the official candidate for the country’s new head of state by Chancellor Angela Merkel’s center-right coalition.
Mr. Wulff, whose state holds about 20 percent of Volkswagen, was in Chattanooga late in 2009 to consider the progress at the plant.
McDonald’s pulls Shrek glasses
LOS ANGELES – Cadmium has been discovered in the painted design on “Shrek”-themed drinking glasses being sold nationwide at McDonald’s, forcing the burger giant to recall 12 million of the cheap U.S.-made collectibles while dramatically expanding contamination concerns about the toxic metal beyond imported children’s jewelry.
The U.S. Consumer Product Safety Commission, which announced the voluntary recall early Friday, warned consumers to immediately stop using the glasses; McDonald’s said it would post instructions on its website next week regarding refunds.
The 16-ounce glasses, being sold for about $2 each as part of a promotional campaign for the movie “Shrek Forever After,” were available in four designs.
Sticky pedals spark recall at Dodge
WASHINGTON – Chrysler is recalling nearly 35,000 Dodge Calibers in the United States and around the world to fix a potential problem with sticky gas pedals, the same issue that has affected millions of Toyotas.
Chrysler Group LLC said it will recall about 25,000 Calibers in the U.S. from the 2007 model year and a limited number of 2007 Jeep Compass SUVs to inspect vehicles built between March and May of 2006. The remaining vehicles are in Mexico, Canada and elsewhere.
Shell shutting Canadian refinery
MONTREAL – Shell Canada says it will close its largest Canadian refinery after a suitable buyer for the 76-year-old facility could not be found, leaving 500 direct employees and 2,500 indirect workers out of a job.
The petroleum giant said Friday that it will convert the refinery operations in Montreal, Quebec, to a distribution terminal.
The refinery processes more than 130,000 barrels of crude oil daily.
Shell Canada president Lorraine Mitchelmore says the company had interest from two potential buyers but Shell could not meet some of the terms put forward to realistically reach a sale agreement.
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