Krystal lays off 16 local staffers [Chattanooga Times Free Press, Tenn.]

Feb. 13--Krystal laid off 16 employees at its Chattanooga home office with the layoffs reaching seven departments, primarily in real estate, according to Brian Cooley, a spokesman for the fast-food chain.

The layoffs came in response to a slowing economy and dwindling need to continue the aggressive growth strategy the company pursued for the last two years, he said.

"The company is still right-sizing their business, and until the time comes for them to grow as much as they had planned, they will focus on operations and customer service," Mr. Cooley said.

He noted that Krystal plans to renovate its existing restaurants, and continue to focus on social networking through Facebook and Twitter to build customer loyalty.

Dispute resolution firm relocates

The Garretson Firm Resolution Group Inc. has expanded its local office and leased space in downtown Chattanooga.

The company, a neutral provider of services to parties who are settling personal injury claims, is moving to One Central Plaza, 835 Georgia Ave., said Steve Hunt of Berry and Hunt.

The office is relocating from East Ridge to allow for the hiring of an additional three to five employees, giving the company up to 11 in the city, a spokeswoman said. The local office opened in 2006.

VW global sales rise sharply

Volkswagen AG started 2010 with robust sales growth, delivering 538,500 vehicles in January, up 41.3 percent, according to the German automaker.

VW said its growth surpassed the overall world market's performance of a gain of 22.3 percent over January 2009.

The carmaker cited its young and environmentally friendly model range. Also, January is historically a weak month as well, the company reported.

Christian Klingler, group board nmember for sales, said last month's sales shows VW is well positioned with its model range, but the international automotive markets remain tense.

Unum's credit rating upgraded

Fitch Ratings on Friday upgraded Unum Group's senior debt rating to BBB from BBB-, one notch within investment-grade territory, citing improvements in the Chattanooga-based insurer's operating performance.

Fitch said the upgrades reflect operating performance that "has remained strong despite a weak global economy."

Companies with BBB ratings are considered to have low risk of default, but more risk than companies with higher ratings at the A, AA and top-rung AAA levels.

The ratings company cited Unum's conservative investment portfolio, and "solid capital and liquidity" at both the holding company and its subsidiaries.

Bull Run scrubbers win journal award

The smokestack scrubber system installed at TVA's Bull Run fossil plant near Oak Ridge won the Environmental Business Journal 2009 business achievement award for air pollution control.

Advatech, a Franklin, Tenn.-based scrubber technology firm, installed the scrubbers in December 2008 to cut the plant's sulfur dioxide emissions by 98 percent, or about 95,000 tons per year. The project is part of TVA's $172 million investment in 2009 to reduce coal plant pollution.

Staff Reports

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