US Xpress names new head of dedicated trucks
Julie Van de Kamp has been named president of the dedicated trucking division at U.S. Xpress.
Van de Kamp joined the Chattanooga-based trucking giant more than 15 years ago as a pricing analyst after working for the Wisconsin Department of Transportation and has since served in a variety of key roles in business development, customer experience and sales at U.S. Xpress before taking on her new role last week. The 38-year-old Green Bay, Wisconsin native led the creation of the first employee resource group at U.S. Xpress for women and has helped in the formation of three other such employee groups.
"She knows our industry, our customers and our people," U.S. Xpress CEO Eric Fuller said in an announcement of her appointment which includes serving on the company's executive strategy team, "We're fortunate to have a leader of her caliber on our team."
In her new role, Van de Kamp is responsible for leading operations for one of the company's biggest divisions which services some of the nation's largest retailers.
Van de Kamp said she has grown to love Chattanooga and the trucking industry as one of the top female logistics executives in Chattanooga. She and her husband, have two children and reside in Chattanooga.
Regions Banks boosts fourth quarter profits
Regions Financial Corp. reported higher than expected fourth-quarter earnings on Friday, helping to boost the company's stock price by 4.6% in trading on the New York Stock Exchange on Friday.
Regions, the Birmingham, Alabama-based bank that operates one of the biggest banks in Chattanooga, reported fourth-quarter 2022 adjusted earnings per share of 67 cents per share. That was 2 cents a share above the Zacks Consensus Estimate and was up by 52.3% from a year ago.
For all of 2022, Regions reported net income of $2.1 billion and recorded pre-tax pre-provision income of $3.1 billion.
"Regions continued its focus on delivering consistent, sustainable financial performance, generating record pre-tax pre-provision income for 2022," Regions CEO John Turner said in an announcement of the earnings Friday. "While uncertainty remains, we have deliberately positioned the company to withstand an array of economic conditions, and our strong performance in 2022 provides a solid foundation as we enter 2023."
Amazon to build more data centers
Amazon Web Services plans to invest $35 billion in new data centers in Virginia under a deal with the state, Gov. Glenn Youngkin announced Friday.
Millions of dollars in incentives to close the deal still require legislative approval, but General Assembly leaders in both parties expressed support in a news release issued by Youngkin's office. Still, data centers have become a politically volatile topic, particularly in northern Virginia, where the structures are increasingly common and where neighbors are voicing noise and environmental concerns.
Data centers house the computer servers and hardware required to support modern internet use, and demand continues to increase. But the data centers require high-powered fans and extensive cooling capacity that can generate noise. They also consume huge amounts of electricity that can require construction of high-voltage transmission lines to support them.
GM spends $900 million to upgrade 4 plants
General Motors says it will spend more than $900 million to update four factories, with the bulk going to an engine plant in Flint, Michigan, to build the next-generation V8 for big pickup trucks and SUVs.
Factories in Rochester, New York; Defiance, Ohio; and Bay City, Michigan; also will see investments, some to make V8 engine components as well as parts for future electric vehicles, the company said Friday. The investments won't create any new jobs, but they will preserve about 2,400 hourly and salaried positions positions at the four sites, the company said.
Much of the money, $579 million, will go to Flint Engine Operations for equipment to build the sixth-generation small-block V8 that will go into the next round of big pickup trucks and SUVs.
— Compiled by Dave Flessner