Food City marks 100th birthday with Treasure Hunt
Food City is marking its 100th birthday, growing from its beginnings in Greeneville, Tenn., to now serving people in four states.
“It’s been a pretty good ride,” said Rick Bishop, executive vice president of Food City’s Chattanooga division. “We’ve come a long way. We want to be the best retailer we can.”
To celebrate the year-long event, the Abingdon, Va.-based company plans to donate $100,000 to charitable organizations. Also, plans are to put on the Food City $100,000 Treasure Hunt contest.
Food City moved into the Chattanooga market in 2015 with the acquisition of 29 Bi-Lo stores.
“In today’s competitive market place, it’s very rare to see a company celebrating their 100th Anniversary,” Food City President Steven C. Smith said.”We wanted to show our appreciation by donating an additional $100,000 to some of the charitable organizations that help make our region a better place to live, work and raise our children.”
Food City has teamed up with local media partners, including WRCB-TV in Chattanooga, to introduce the 100th Anniversary Charity Challenge. The contest begins April 18 and continues through May 29, 2018. Customers can cast your vote for the charity of your choice and the one that receives the most votes in each market area will receive $12,500. The second place winners will each receive $7,500 and third place winners will be awarded $5,000 each.
Local gas prices continue to rise
‘Gas prices rose last week for the fourth consecutive week, although the rise in fuel prices was tempered by concerns about a trade war between the United States and China.
The average retail price of regular gas in Chattanooga was up 1.4 cents per gallon in the past week to $2.41 a gallon, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga. Local fuel prices are up an average of 19.1 cents per gallon in the past month and are 31.6 cents per gallon above the same time a year ago.
But Chattanooga gas prices still are the lower than in most parts of Tennessee and average 24 cents per gallon less than the U.S. average of $2.65 per gallon, GasBuddy.com said.
“As markets have seen concern rise of a possible trade war between the U.S. and China, oil prices have been hit hard, leading gas prices to dramatically slow their recent ascent,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While the pause button may be hit for the time being on the spring surge, it is still likely we’ll see prices advance again soon.”
BlueCross donates $10.7 million in 2017
BlueCross BlueShield of Tennessee contributed $10.7 million in charitable giving last year and its employees donated more than 8,000 hours of service to local communities.
The Chattanooga-based health insurer said Monday it gave its biggest contributions last year to a statewide campaign to battle opioid abuse, which got $1.3 million, and its support of the new Miller Park in its hometown, which BlueCross gave $1 million to help build.
BlueCross, the state’s biggest health insurer which helps insure more than 3 million Tennesseans, said the company’s annual giving tally included $9 million from the BlueCross BlueShield of Tennessee Health Foundation, $600,000 from the Community Trust and $785,000 in corporate donations.
“We truly are ‘of Tennessee,’ and we are committed to keeping our neighbors and communities healthy and strong,” said Roy Vaughn, chief communications officer for BlueCross and executive director of the BlueCross BlueShield of Tennessee Health Foundation, said in a statement today.
Baylor School picked best looking in state
Architectural Digest, a monthly magazine that covers interior design and architecture, has picked The Baylor School in Chattanooga as the “most beautiful” private high school in Tennessee.
“In a beautiful location overlooking the Tennessee River, the Baylor School sits on over 600 acres around the school’s extensive quad,” the maagazine said in its article on “The Most Beautiful Private High School in Every State in America.”
Architectural Digest praised the Baylor campus for its matching cluster of red brick buildings “boasting picturesque views of the natural landscape.”
The private school which serves students in grades 6-12 was founded in 1893 and sits on 690 acres along the Tennessee River.
Novartis to buy gene therapy firm
Swiss pharmaceuticals giant Novartis says it has agreed to buy the U.S.-based gene therapy company AveXis Inc. for $8.7 billion, part of its goal to become a leader in the treatment of neurodegenerative diseases.
The two companies say their respective boards have voted unanimously to approve the deal, to be paid for through cash and short-term borrowing.
The tender offer for $218 per share announced Monday marks a whopping 88 percent premium from AveXis’ closing price in Nasdaq trading on Friday.
Basel, Switzerland-based Novartis called the deal set to close in mid-2018 a “financially attractive acquisition with multi-billion dollar peak sales potential” even if it isn’t expected to add to core operating income until 2020.