The City of Chattanooga is considering selling the upscale Chattanoogan hotel, whose profits
are steadily growing but still do not cover its $3 million annual debt service.
Chattanoogan.com reported that the Chattanooga City Council approved a plan allowing citizens
to rent goats to fight kudzu, privet and other invasive plants on their property. The city began
using a herd of goats last year as a more environmentally friendly way of curbing invasive weeds at
various city sites. Lee Norris, deputy city public works administrator, was quoted as stating that
renting a goat from the city will "work pretty much like getting a construction permit."
Covista Communications acquired New York-based telecommunication companies GT3 Holdings Corp.
and ClearEnd Corp. The new subsidiaries give Covista a 100,000-member customer base and a nationwide
fiber network.
First Volunteer Bank has expanded its presence in Bradley and Polk counties with the purchase
of Benton Banking Co. Benton Banking's six branches have some $95 million in deposits.
In a $28.6 million deal, Charlotte, N.C., real estate investment firm Cogdell Spencer has bought
Healthpark Medical Office Building in Chattanooga and Peerless Medical Center in
Cleveland, Tenn.
Retirement Lifestyle magazine named Chattanooga among its Top 10 Healthy Places in the
Southeast. The only Tennessee city listed, Chattanooga recently launched an ad campaign targeting
retirees.
Southern Insurance Associates and U.S. Insurance Group have merged to form U.S.
Insurance Services. Owners say they hope to acquire other independent insurers based in the
Chattanooga area.
Public opposition was strong against a proposed 98-acre multi-unit housing development on historic
neighborhood Stringer's Ridge, which would lose 20–30 feet in elevation in some places.
TractManager, a contract management service for medical and real estate offices, may add up
to 50 employees as it expands into the former offices of law firm Shumaker, Witt, Gaither &
Whitaker.
Viant Inc., which handles claims transactions for insurance companies, announced it has
doubled its office space and expects to fill up to 50 new positions.
Jamestown Properties, the Atlanta real estate investment firm that in 2006 bought struggling
Warehouse Row, once a burgeoning downtown outlet mall, announced plans to build a hotel on
the site.
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