Business Briefs: Chattanooga home sales rose during October

Business Briefs: Chattanooga home sales rose during October

November 22nd, 2017 by Staff Report in Business Around the Region

A house is for sale on 601 Lytle Street Monday, June 20, 2016.

Photo by Angela Lewis Foster /Times Free Press.

Chattanooga home sales rose during October

Chattanoogans bought more homes last month even though the number of residential property listings continued to decline.

The Greater Chattanooga Association of Realtors said October home sales rose 0.6 percent from a year ago with 793 houses sold last month. So far this year, local Realtors have sold 8,250 homes, or 60 more homes than in the same 10-month period in 2016.

The sales gain, which boosted housing sales by local Realtors to an all-time high for the period, came despite a 6.9 percent drop in the number of properties for sale. In October, only 1,012 homes were listed by local Realtors and the average home sold in only 54 days.

Nationwide, the National Association of Realtors said home buying snapped back last month in hurricane-hit Texas and Florida, boosting sales nationwide by 2 percent during October to a seasonally adjusted rate of 5.48 million homes.


Power grid executive resigns after arrest

The head of an international authority that oversees the North American power grid has resigned following his arrest on a domestic violence charge in Georgia.

Gerry Cauley stepped down Monday as CEO of the North American Electric Reliability Corp., an international regulatory authority that seeks to assure reliability and security of the electric grid in the United States, Canada and northern Mexico.

Jail records show the 64-year-old was arrested Nov. 10 at his home outside Atlanta. He was charged with battery-family violence and released on bond.

NERC senior vice president and general counsel Charles Berardesco is serving as interim president and CEO. Board chairman Roy Thilly says NERC remains committed to maintaining the reliability and resilience of the bulk power system.


Uber admits hack was covered up

Uber is coming clean about its cover-up of a year-old hacking attack that stole personal information about more than 57 million of the beleaguered ride-hailing service's customers and drivers.

The revelation Tuesday marks the latest stain on Uber's reputation. Uber's CEO, Dara Khosrowshahi, criticized the company's handling of the data theft in a blog post that said there's no evidence the stolen information has been misused. The heist took the names, email addresses and phone numbers of 57 million riders. The thieves also nabbed the driver's license numbers of 600,000 Uber drivers.


Iran-based hacker tries to extort HBO

U.S. prosecutors say a member of an Iran-based hacking group tried to extort HBO out of $6 million in digital currency by stealing unaired episodes and scripts of hit shows such as "Game of Thrones."

An indictment filed Tuesday in federal court in Manhattan accuses Behzad Mesri of hacking into computer accounts of HBO employees in New York. It says he stole episodes of "Curb Your Enthusiasm" and "The Deuce" and scripts of "Game of Thrones."


Pixar chief takes leave

Pixar co-founder and Walt Disney Animation chief John Lasseter is taking a six-month leave of absence citing "missteps" with employees.

In a vaguely-worded memo to employees Tuesday, Lasseter says it has been brought to his attention that he has made some employees feel disrespected and uncomfortable. He apologized to anyone who has received an unwanted hug or gesture and to those he has "let down."