Baker Donelson closes merger with Ober Kaler
The law firm of Baker Donelson, the largest law firm in Tennessee with offices in Chattanooga, announced Tuesday it has completed its merger with the Baltimore-based Ober|Kaler, resulting in one of the 50 largest law firms in the country. The combined firm, which maintains the name of Baker Donelson, boasts more than 800 attorneys and advisers across 25 offices in 10 states as well as Washington, D.C.
“Moving forward, there’s more to be done, but we look forward to working with our new colleagues as one firm to bring our clients all the advantages and benefits that were the motivation behind our decision to join firms,” Baker Donelson Chairman and Chief Executive Ben C. Adams said.
There were no layoffs at either firm as a result of the merger.
The combination also results in the third largest health practice in the country.
German firm plans Georgia gas plant
The Linde Group, a German maker of industrial gases, plans to build a $40 million air separation plant in South Georgia, according to a news release Tuesday from Gov. Nathan Deal’s office.
The project will be built near the city of Adel in Cook County, about 25 miles north of Valdosta. The complex is expected to employ 35 people and open in 2019, the news release said.
“Linde is committed to investing for growth in the Americas,” Pat Murphy, president of Linde Americas, said in the release. “We have been expanding the market in the Southeast for several years, and chose the location of the plant based on its proximity to customers and the strong, pro-business environment in Cook County and the City of Adel.”
Linde operates similar facilities in Cartersville, northwest of Atlanta and in Aiken, S.C., near Augusta. In total, the German firm said it employs 570 people in Georgia at 11 plants and offices.
The company sells argon, liquid nitrogen and liquid oxygen for clients in health care, food processing and the metals industries.
Local gas prices rise 22 percent in past year
Chattanooga motorists are starting the new year with gas prices 39 cents a gallon higher than a year ago, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga.
Average retail gasoline prices in Chattanooga rose 4.5 cents per gallon last week to $2.07 per gallon. Despite the increase, however, local prices still remained 27 cents per gallon below the national average price of $2.34 per gallon last week.
The cheapest gas in Chattanooga Monday, according to GasBuddy.com, was sold at Kangaroo stations in Middle Valley and on Highway 58.
“Though we may see rising gas prices take a brief break in early February, we’re unlikely to come anywhere close to last year’s low levels,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.
Toyota shifts headquarters from Kentucky to Texas
Toyota is beginning to move hundreds of jobs out of its northern Kentucky headquarters as part of a nationwide consolidation.
Workers have begun relocating from Toyota’s Erlanger plant and will continue through the end of 2018. The company, which is moving its facilities to the Dallas suburb of Plano, said the move will affect 648 workers. All employees received a job offer as part of the restructuring, company spokeswoman Kelly Stefanich said.
Erlanger has been home to the Japanese automaker’s North American engineering and manufacturing headquarters since 1996.
Marc Fields, Erlanger’s city administrator, said the city is sad to see Toyota leave, but has been preparing for this moment since Toyota announced its consolidation plans in April 2014.
“We have been fortunate that several new businesses have come to Erlanger since the announcement or are on the move here,” he said. “We will continue to recruit businesses and promote the city to prospects.”
Construction spending hits highest level in 10 years
WASHINGTON – U.S. builders boosted spending on construction projects for a second straight month in November, pushing activity to the highest level in more than a decade.
Construction spending rose 0.9 percent in November after a 0.6 percent increase in October, the Commerce Department reported Tuesday. The increase reflected solid gains in home construction, nonresidential building and government construction activity.
The gains in all three categories pushed total construction to a seasonally adjusted annual rate of $1.18 trillion, the highest point since April 2006 when a housing boom fueled building.
Economists believe construction will continue to show gains in 2017, reflecting a strong job market with unemployment at the lowest point in nine years.