Business Briefs: Gabe's opens Saturday in Fort Oglethorpe

Business Briefs: Gabe's opens Saturday in Fort Oglethorpe

October 20th, 2017 by Staff and Wire Reports in Business Around the Region

Gabe's opens Saturday in Fort Oglethorpe

The former Rugged Wearhouse in Fort Oglethorpe will reopen Saturday in a bigger, rebranded fashion store known as Gabe's.

Gabe's will distribute more than $1,000 in gift cards Saturday to celebrate the grand opening of its new store at 791 Battlefield Parkway. Grand opening events will begin just before 9 a.m., when the first 200 visitors receive a free Gabe's Fort Oglethorpe t-shirt,

Each Gabe's store offers a wide selection of famous brand apparel, accessories, footwear, cosmetics and beauty supplies. In addition, the store will feature departments like home décor, infant and toddler, pet supplies, toys, electronics and more with new arrivals every day.

Gabe's currently operates more than 68 stores across 12 states.


Frost gives $2 million for Children's Hospital

Jim Frost, president and owner of Frost Cutlery, has donated $2 million from his Foundation to Children's Hospital at Erlanger. The bequest was made in honor of his granddaughter, whose life was saved at Chattanooga's only pediatric hospital 12 years ago.

Frost has grown his knife and cutlery business into a multi-million dollar empire over the past 40 years and was a leader in the developing the seven-field sports facility known as Tyner Recreation Complex and the construction of a world-class softball facility, Jim Frost Stadium, at Warner Park.

He developed his relationship with Erlanger when his granddaughter, Alexis Frost, almost lost her life at the age of 15 following a massive cardiac arrest on Mother's Day 2005. The teenager's heart had gone into ventricular fibrillation, an extremely dangerous condition that can lead to sudden cardiac death. Following her 13-day stay in the Pediatric Intensive Care Unit and patient care floor at Children's Hospital, Alexis returned home with her heart back to its normal size and completely healed — which many considered a medical miracle at the time.

Frost said he hopes his latest gift to Erlanger "will help improve and save the lives of many more children in the years to come."


Bryan College OK'd as VETS campus

Bryan College in Dayton, Tenn., has become one of only four private institutions in Tennessee to be named a VETS Campus by the Tennessee Higher Education Commission.

Adopted in 2014, the Tennessee Veterans Education Transition Support (VETS) Act recognizes higher education institutions that help veterans transition from military service to college. Across Tennessee, 22 colleges have received the VETS Campus certification, including Chattanooga State, Cleveland State, and the University of Tennessee at Chattanooga in Southeast Tennessee. Bryan is one of only four private schools in the state to earn this recognition.

"We want to invest in and serve those who have served us," Bryan College President Stephen D. Livesay said.

GM pays penalties for faulty ignitions

General Motors Co. on Thursday agreed to pay $120 million to resolve claims from 49 U.S. states and the District of Columbia over faulty ignition switches.

Tennessee Attorney General Herbert Slatery III said Tennessee will receive nearly $2.1 million to settle claims that the largest U.S. auto maker concealed safety problems from ignition switches in GM vehicles.

GM previously paid about $2.5 billion in penalties and settlements over faulty ignition switches that could cause engines to stall and prevent airbags from deploying in crashes. The defect has been linked to 124 deaths and 275 injuries, and prompted a recall that began in February 2014.


Mortgage rates fall after 2-week rise

Long-term U.S. rates slipped this week, reversing two straight weekly increases.

Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages fell to 3.88 percent from 3.91 percent last week. A year ago, the benchmark rate stood at 3.52 percent.

The rate on 15-year, fixed-rate mortgages, popular with homeowners who are refinancing, dipped to 3.19 percent from 3.21 percent last week. A year ago, the 15-year rate was 2.79 percent.