First Acceptance is on a bit of a roll lately. Shares of the Green Hills-based auto insurer (Ticker: FAC) are up more than 30 percent since the end of March, and the company last month said it planned to buy more than 80 stores from Nationwide for more than $34 million. On Monday, the company said it has opened its fourth store in the Memphis area. The new location is the fifth since late last year.
Nissan executives have expanded their recalls of cars that feature airbags made by supplier Takata. The latest notice covers more than 1.5 million vehicles built last decade, with about a fifth of them in North America. Read about the details (and rival Toyota's similar problems) here.
The development team behind the Bridgestone Americas skyscraper now under construction in SoBro has an updated informational packet that shows an image of the tower's base. The rendering shows the northwest corner of the building at street level (at the intersection of the southeast corner of Demonbreun Street and Fourth Avenue South) and with notable pedestrian space. Read more about the project here.
(Image courtesy of Highwoods and Perkins + Will)
The Tennessee Attorney General's Office and the state Division of Consumer Affairs have reached an agreement with auto dealer Wholesale Inc. that calls on the company to change its advertising. The deal comes after a complaint from a soldier stationed at Fort Campbell led to allegations that the company violated the Tennessee Consumer Protection Act in marketing a fictitious lender and saying it was marketing a limited amount of loans to military personnel. Check out more info here.
Automotive accelerator program autoXLR8R, which is now being run by regional venture development organization Tech 2020, is on the hunt for its third cohort of startups. The nine-week program was started by the Southern Middle Tennessee Entrepreneur Center in 2013 and will this year be run from Tech 2020's Oak Ridge offices. Classes will start July 6 and take place in various meeting locations but the Tech 2020 team also will utilize online platforms to be more accessible to participants and gather a wider audience.
"We are moving to an online/remote based program delivery, which will minimize disruption of the entrepreneur's normal business activities and it also removes geography as a constraint,” Shawn Carson, Tech 2020's director of venture development, said in a release. “We expect to have participants from across Tennessee and the Southeast."
Tech 2020 also has connections with the University of Tennessee and UT Research Foundation.
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