Echelon inks take care of Outdated Dominion
Chattanooga-based Echelon Health is partnering with nation music group Outdated Dominion, which can supply themed class rides and an unique curated channel for the corporate’s biking neighborhood.
Outdated Dominion, named final week as 2021 CMA Vocal Group of the Yr, additionally will supply an inside look into the band’s personal health journey and a members-only look by the band, in response to Echelon.
The channel will characteristic a mixture of Outdated Dominion music in addition to favorites of the vocal group. The anchor channel will stay throughout the Echelon Match app, which is unique to members.
Lou Lentine, chief government of Echelon Health, stated the corporate has at all times targeted on pairing the providing of the widest vary of high-quality linked health tools throughout all value factors with partaking stay and on-demand content material.
“With the ability to supply unique content material from such a well-loved and gifted band, as Outdated Dominion, is one thing we imagine will proceed to assist our members take their health to the subsequent degree,” he stated.
The Outdated Dominion announcement comes as Echelon has expanded its retail footprint throughout main retailers and entered into new leisure partnerships and a collaboration with artists together with Pitbull.
CBL sells portfolio of self-storage models
CBL Properties on Thursday introduced the sale of its self-storage portfolio for a product sales value of $42, or $22 million for CBL’s share.
After compensation of about $25.7 million, $16.4 million for Chattanooga-based CBL’s share, in recourse loans secured by the properties, the sale generated money to CBL of about $8.5 million, the corporate reported.
The portfolio included self-storage amenities that CBL and its three way partnership accomplice had developed on accessible land at Hamilton Place in Chattanooga in addition to at Mid Rivers Mall in St. Charles, Missouri, Eastgate Mall in Cincinnati, and Parkdale Mall in Beaumont, Texas.
“The sale of this portfolio is a superb instance of the varieties of worth creation alternatives we’re pursuing throughout our portfolio,” stated CBL Chief Govt Officer Stephen Lebovitz. “We developed these belongings with lower than $300,000 of money invested, using current land as our fairness. Inside three years of beginning this program, we’re capable of make the most of terrific pricing and monetize the belongings to offer extra money for the corporate.”
VP Racing Fuels grows Tennessee operations
VP Racing Fuels introduced Thursday the corporate will make investments one other $14.2 million and add 150 extra jobs by increasing its Huntington, Tennessee facility and buying one other facility in McKenzie, Tennessee close to the Carroll County Airport.
The enlargement at VP Racing Fuels’ Huntingdon facility will comprise the corporate’s funding in a $7 million tank farm. On the new McKenzie location, VP Racing Fuels will broaden operations to incorporate blow mould equipment for bottling its merchandise.
“Since first establishing an operation in Tennessee in 2019, the enterprise setting, the workforce and the welcoming nature of the neighborhood have all been what we had hoped for,” stated Alan Cerwick, president and CEO of VP Racing Fuels. “The state, county, and native management have all labored with VP to create a mutually useful relationship. Thus, our eagerness to broaden in Carroll County.”
For greater than 40 years, VP Racing Fuels has targeted on the manufacturing of race gasoline, small engine gasoline, auto efficiency chemical and plastics utility containers.
30-year mortgage charges rise above 3% once more
The typical long-term U.S. mortgage fee rose this week, with the primary 30-year fee inching again up over 3%.
Mortgage purchaser Freddie Mac reported Thursday that the typical fee on the 30-year benchmark residence mortgage jumped to a still-low 3.1% from 2.98% final week. A 12 months in the past presently the speed was 2.72%.
The speed for a 15-year mortgage, well-liked with householders refinancing their mortgages, rose to 2.39% from 2.27% final week. It stood at 2.28% a 12 months in the past.
Because the job market has improved and demand for services and products continues to be red-hot, the Federal Reserve earlier this month stated it might hold its predominant borrowing fee close to zero however start dialing again the extraordinary stimulus it has offered for the reason that coronavirus pandemic erupted final 12 months.
Sturdy client demand and ongoing provide shortages have pushed costs greater for nearly every little thing, chipping away at latest features in wages and salaries for staff. The federal government reported final week that costs for U.S. shoppers jumped 6.2% in October in contrast with a 12 months earlier, resulting in the best inflation fee since 1990.
— Compiled by Dave Flessner