Local business news in brief
Jan 9, 2007 at 8:30 AM
NETWORKS, Johnson City may buy land
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KINGSPORT - Richard Venable, chief executive officer of NETWORKS - Sullivan Partnership, said Tuesday that officials of NETWORKS and Johnson City plan to meet soon to discuss a joint purchase of land for an industrial park. Venable told the Kingsport Economic Development Board that city officials were open to that idea during a recent meeting where they approved the sale of 20 acres of Johnson City-owned land at the Tri-County Industrial Park. That 900-acre park in Piney Flats was jointly developed by area cities and counties in 1970 and is almost full. "Joint projects on a regional basis are very well looked at by the state," Venable said. NETWORKS is a joint economic development effort of Kingsport, Sullivan County, Bristol, Tenn., and Bluff City. Also at the KEDB meeting, Assistant City Manager Jeff Fleming said the owners of the Stonegate Center, the old Wal-Mart property near the interchange of Stone Drive and Interstate 26, are working to locate an "entertainment" business at the property. He said that could include things like a movie theater, go cart track and/or bowling.
Jill Skeans joins The Millennium Centre
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JOHNSON CITY - Jill Skeans has joined The Millennium Centre as a sales representative. She will primarily focus on marketing the new outdoor courtyard and the ballroom as a location for special events such as weddings, anniversary celebrations and receptions. Skeans has several years of sales experience in the Tri-Cities hospitality/tourism markets. Most recently she was the Tennessee representative for Blue Ridge Country magazine and The Blue Ridge Parkway Travel Guide. She also spent nearly seven years with the Kingsport Convention and Visitors Bureau in various roles, including director of tourism and group sales manager. Skeans lives in Blountville with her husband, Anthony.
Sprint announces plans to cut 5,000 jobs
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RESTON, Va. - Sprint Nextel Corp. reported Monday that its cell phone business suffered a net loss of 300,000 monthly subscribers in the fourth quarter and that the struggling wireless company will cut 5,000 jobs. The company's stock plunged more than 8 percent after the financial update, which included a 2007 outlook shy of many Wall Street forecasts. Sprint said it expects its 2006 results to be in line with its previous guidance, with full-year revenue of $41 billion to $41.5 billion and adjusted operating income before depreciation and amortization of $12.6 billion to $12.9 billion. On average, analysts surveyed by Thomson Financial are forecasting 2006 earnings of $1.26 per share on sales of $41.53 billion. For 2007, the company now expects operating revenue of $41 billion to $42 billion in 2007. Analysts are looking for earnings of $1.32 per share on sales of $42.04 billion.