Monthly Archives: February 2013

Xinergy names new director

Knoxville-based coal producer Xinergy Ltd. has added the head of a South Carolina coal brokerage to its board of directors.
Justin Converse, chairman and CEO of Converse and Company Inc., replaces former Xinergy director David Smith, who resigned “to pursue personal interests,” Xinergy said in a statement released earlier this week.
Converse, based in Spartanburg, S.C., serves utility and industrial customers throughout the Southeast, according to its website

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Regal buys Hollywood Theaters for $191M

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The biggest movie theater operator in the U.S. just got
bigger. Knoxville-based Regal Entertainment Group said today it has acquired
Hollywood Theaters for $191 million in cash and $47 million in assumed leased
obligations.

The cash payment includes paying off approximately $157
million in Hollywood Theater’s debt.

The deal adds 43 theaters with 513 screens to Regal’s
existing portfolio.

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Kimberly-Clark Loudon mill passes milestone

Kimberly-Clark Corp.’s Loudon mill recently passed a notable milestone – 1 million man-hours without a reportable injury.

The safety record was accomplished over 534 consecutive days and was the first time the mill had achieved the milestone in its 22 year history, the company said in a news release.

The mill, which produces Scott and Kleenex brand products, has 320 employees.

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Tenn. economy should be ‘substantially stronger’ in 2014

Tennessee’s economy will continue modest growth this year, but should be “substantially stronger”in 2014, University of Tennessee economists said today.

On the national scene, the economy is expected to grow slowly in the coming months with a steady decline in the unemployment rate, according to the annual economic forecast prepared for the governor by UT’s Center for Business and Economic Research.

“The U.S. economy is projected to continue to grow in the quarters ahead and the unemployment rate will continue its slow but steady decline,” said Matt Murray, associate director of CBER and the report’s author. “For Tennessee, the economic outlook calls for modest growth in 2013 followed by substantially stronger growth in 2014.”

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Analysts expect increased earnings from Regal

twilight_atb_12.jpgGood things are expected from Regal Entertainment Group when the Knoxville-based movie
 theater operator releases its fourth quarter earnings on Thursday.

Analysts are predicting earnings of 20 cents per share, double the 10 cents per share the company reported in the prior-year quarter.

Revenue is expected to be up 14.9 percent from a year ago, reversing results from the previous two quarters when revenues were down from from the year before.

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