Oak Ridge Archives - Page 73 of 97

Honors: Oak Ridge company wins Telly Award for video production

Posted at 2:55 pm October 5, 2014
By Oak Ridge Today Staff Leave a Comment

Mike Brown, M&M Productions USA president and CEO, left, presents the Texas Telly Award at DECA’s Chartered Association Management Conference to his clients, Sandra Hinesly, Texas DECA executive director; Erica Marshall, Texas DECA board member; and Leo Saenz, Texas DECA board member. (Submitted photo)

The Telly Awards has selected M&M Productions USA, a full-service event planning and production company based in Oak Ridge, as a Bronze winner in the 35th Annual Telly Awards for its production of “The Stars of Texas DECA” promotional video, a press release said.

With nearly 12,000 entries from all 50 states and numerous countries, this recognition establishes M&M Productions as an industry leader in video production, a press release said.

“The Stars of Texas DECA” video features the story of five DECA alumni who credit their success to their experience in DECA. The video motivates Texas students to participate in the organization, which prepares high school and college students for careers in marketing, finance, hospitality, and management. [Read more…]

Young Professionals to hear about building strong financial foundations

Posted at 2:00 pm October 5, 2014
By Oak Ridge Today Staff Leave a Comment

Briana Teroy

The Young Professionals of Oak Ridge will learn about building strong financial foundations during a Tuesday evening meeting.

“Building one’s investor IQ starts with understanding the basics,” a press release said.

The press release said the presentation will help new investors or those who need a refresher with:

the importance of developing a strategy,
the impact of asset allocation, and
the influence of inflation on one’s long-term goals.

[Read more…]

Formerly USEC, now Centrus Energy, company emerges from bankruptcy

Posted at 11:35 am October 2, 2014
By Oak Ridge Today Staff Leave a Comment

The American Centrifuge Technology Manufacturing Center in south Oak Ridge is pictured above. (Photo courtesy USEC/Centrus Energy Corp.)

Centrus Energy Corporation announced this week that it has satisfied all the conditions to emerge from a Chapter 11 bankruptcy. The conditions were outlined in a reorganization plan approved by the U.S. Bankruptcy Court for the District of Delaware on September 5.

The plan became effective Tuesday, and Centrus, formerly known as USEC Incorporated, emerged from the restructuring in a “stronger position to supply customers with nuclear fuel and support the energy and national security needs of the United States,” a press release said.

Centrus stock was expected to begin trading on the New York Stock Exchange on Tuesday under the ticker symbol LEU.

“Throughout the restructuring process that began March 5, 2014, the company has continued to meet all of its obligations to customers and vendors and will not require external exit financing upon emergence,” the release said. The company had maintained its NYSE listing throughout the Chapter 11 process. [Read more…]

Ruby Tuesday closes in Oak Ridge

Posted at 11:11 pm September 30, 2014
By John Huotari 6 Comments

Ruby Tuesday in Oak Ridge announced in signs posted on its front doors that it has closed.

Signs posted on the two front doors at Ruby Tuesday on Tuesday night announce that the Oak Ridge restaurant has closed.

Note: This story was updated at 8:25 a.m. Oct. 1.

Ruby Tuesday in Oak Ridge has closed. The restaurant announced the closure in two signs posted on its front doors.

The signs invite diners to eat at other local Ruby Tuesday restaurants in Knoxville and Lenoir City.

The front doors of the Oak Ridge restaurant were locked Tuesday night, and a worker leaving the restaurant declined to comment. A Ruby Tuesday media representative wasn’t immediately available for comment Tuesday night or Wednesday morning. [Read more…]

Mall project clears critical hurdle Monday

Posted at 3:03 pm September 30, 2014
By John Huotari 13 Comments

Tim Sittema

Council, IDB approve TIF extension, grant, roadway work

The proposed redevelopment of the Oak Ridge mall cleared a critical hurdle on Monday when city officials agreed to extend a property tax agreement for the 59-acre project, authorize $2 million in roadway and other infrastructure work, and offer a $500,000 grant if some federal funding is not approved.

Officials described the proposed redevelopment, named Main Street Oak Ridge, as an $80 million project that could fill a “hole in the heart” of Oak Ridge, bring new retail life to the city’s downtown, and build a lasting legacy.

Monday’s moves were meant to reduce the risk for four local lenders that could combine to offer $13 million in loans to part of the redevelopment under a tax increment financing, or TIF, agreement. That incentive would use new property tax revenues generated at the mall site and 120 surrounding acres included in the TIF area to repay those loans. Officials said the loans could be repaid in 18 years, according to financial models.

David Bradshaw

But in two separate special meetings on Monday, the Oak Ridge Industrial Development Board and Oak Ridge City Council agreed to extend the TIF term from 20 years to 30. That extra 10 years is meant to act as a “shock absorber” and help make sure that the banks are repaid if there is a “glitch” in the project that would push the repayment past the previously approved 20-year term, officials said.

“This is not a ‘home run’ project for us as financial institutions,” said David R. Bradshaw, Oak Ridge president of CapitalMark Bank and Trust, one of the financial institutions that could participate. But, he added, “It is the right thing to do for the community.” [Read more…]

ORNL FCU starts major facilities projects; demolition under way

Posted at 10:52 am September 29, 2014
By Oak Ridge Today Staff Leave a Comment

Chris Johnson and Marcy Catro at ORNL Federal Credit Union

ORNL FCU President and CEO Chris Johnson and Board Chair Marcy Catron are pictured above. (Submitted photo)

ORNL Federal Credit Union on Monday announced that it has started its major facilities projects in Oak Ridge with the demolition of its location at 215 South Rutgers Avenue. That location was the Credit Union’s sole branch between 1969 and 1987, before housing the Operations and Imaging departments for the last 27 years.

Business operations at ORNL FCU’s main branch located at 221 South Rutgers Avenue will not be affected by the ongoing work. [Read more…]

IDB, Council to consider longer tax agreement, road improvements for mall project

Posted at 2:51 am September 29, 2014
By John Huotari Leave a Comment

Main Street Oak Ridge Site Plan without Tenants

A Main Street Oak Ridge site plan from Tuesday, without tenants shown. (Submitted image)

In two special meetings today, local officials will consider adding another 10 years to a tax incentive agreement for the long-awaited redevelopment of the Oak Ridge mall, and they will also consider authorizing improvements to public infrastructure, including the rebuilding of three private roads: Main Street East, Main Street West, and Wilson Street.

The tax incentive is known as tax increment financing, or TIF. It would use new property tax revenues generated at the mall site, which will be renamed Main Street Oak Ridge, to help pay for development costs.

A 20-year, $13 million TIF and economic impact plan were approved by the Oak Ridge Industrial Development Board, City Council, and Anderson County Commission in November, and by Tennessee officials in January.

But the IDB and City Council will now consider extending the TIF term to 30 years. The extension would also have to be approved by the Anderson County Commission and Tennessee officials. [Read more…]

Cadre5 wins Small Business Subcontractor of Year award

Posted at 1:37 am September 29, 2014
By Oak Ridge Today Staff Leave a Comment

SBA Small Business Subcontractor of the Year Award

Pictured above from left are Chris O’Neal (Cadre5), Gina Holman, Steve Hicks, Walter Perry, and Ken Lowery (Cadre5). (Submitted photo)

KNOXVILLE—Cadre5, a software engineering firm specializing in custom software development, was recently presented with the U.S. Small Business Administration’s 2014 Small Business Subcontractor of the Year Award for Region 4, which includes Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee. Cadre5 was nominated by Oak Ridge National Laboratory, where it has worked on more than 20 projects that met or exceeded its cost and schedule performance goals.

Tennessee District Director Walter Perry and Procurement Center Representative Gina Holman of the Area III Office of Government Contracting, on behalf of Carol Thompson, Area III director, presented Cadre5 with the award at the East Tennessee Economic Council board meeting this month.

“Cadre5 is an outstanding example of how this Tennessee small business community can meet national laboratory mission needs and those of private industry,” Thompson said. “It speaks well of their strong performance in government contracting opportunities at the Oak Ridge National Laboratory, which has enabled growth in their business and creation of jobs in Tennessee.” [Read more…]

Chamber has two candidate forums this week

Posted at 6:51 pm September 28, 2014
By Oak Ridge Today Staff Leave a Comment

The Oak Ridge Chamber of Commerce is pictured above.

The Oak Ridge Chamber of Commerce has two Election Selection candidate forums this week.

The first is Tuesday morning, September 30, and it will feature the 10 candidates for Oak Ridge City Council. The second is Thursday morning, October 2, and it will feature the eight candidates for Oak Ridge Board of Education.

The forums have been organized by the Chamber’s Pro-Growth Advocacy Committee. They are open to the public.

Doors to both forums open at 7 a.m. There will be 30 minutes of meet-and-greet time among the candidates, Chamber members, supporters, community members, and attendees, a press release said. [Read more…]

IDB has special meeting on Oak Ridge mall on Monday

Posted at 11:37 am September 24, 2014
By John Huotari Leave a Comment

Mark Watson

A city board on Monday will consider extending the tax agreement for the redevelopment of the Oak Ridge mall from 20 years to 30.

The Oak Ridge Industrial Development Board will consider the change to the tax increment financing, or TIF, agreement during a special meeting Monday afternoon.

It’s one of a series of resolutions expected to be considered by the IDB and Oak Ridge City Council during special-called meetings on Monday, September 29. [Read more…]

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