Nashville Hyatt rated USA’s best new hotel and other business news – Chattanooga Times Free Press


Nashville Hyatt rated USA’s best new hotel

Grand Hyatt Nashville was named the best new hotel in America, according to USA TODAY readers who voted in the media outlet’s 10Best poll.

The 25-floor, 591-room luxury hotel, which opened in October, features 77,000 square feet of state-of-the-art event and pre-function space, including a 20,000 square foot grand ballroom. The property offers a sophisticated retreat in the heart of Music City, with a prime locale — straddling the trendy Gulch neighborhood and vibrant downtown — surrounded by shopping, restaurants, bars, and entertainment and within walking distance to many of Nashville’s most popular attractions, including the Nashville Convention Center, Country Music Hall of Fame, and Bridgestone Arena.

«We are thrilled to be recognized as the best new hotel in the country, particularly during such a challenging year and so soon after our grand opening,» said Joe Melton, acting general manager of Grand Hyatt Nashville. «It’s an honor to be part of the Music City community that continues to show such resilience and strength, and we look forward to welcoming many more guests in 2021. Thank you to USA Today readers for their support!»

Grand Hyatt Nashville in the heart of the expansive 18-acre Nashville Yards development also is home to one of the tallest outdoor rooftop lounges in Nashville, a fifth-floor pool deck overlooking downtown.

Nissan sought to hide Carlos Ghosn’s pay

A former Nissan chief operating officer outlined in a Japanese court Tuesday the pains company officials took to hide star executive Carlos Ghosn’s pay, and how they had worried about his quitting for a rival.

«Carlos Ghosn is a world-class business leader and CEO,» said Toshiyuki Shiga, testifying at the trial of his former colleague Greg Kelly, charged with under-reporting Ghosn’s compensation.

«We heard not only as rumors but as fact that he was getting job offers,» Shiga added.

As No. 2 at the Japanese automaker from 2005-2013, Shiga is the highest ranking Nissan Motor Co. executive to testify at the trial, which began in September. He worked closely with Ghosn after Nissan’s French alliance partner Renault sent him to Japan to help turn the troubled automaker around in 1999. Shiga retired from Nissan in 2019.

The issue of Ghosn’s pay became more of a problem after Japan beefed up its compensation disclosure requirements in 2010. After that, Ghosn handed back about 1 billion yen ($10 million) a year, roughly half of what he’d been getting.

Czech gun maker may acquire Colt

Gun manufacturer Colt, an American legend and Connecticut fixture for nearly 175 years, could come under European ownership in a deal being negotiated with a Czech firearms company.

Ceská zbrojovka Group SE, or CZG, which is negotiating to purchase Colt Holding Co., said it has reached agreement on the outlines of a deal with the West Hartford gun manufacturer.

A transaction for 100% of the outstanding equity interest in Colt Holding Co. is not certain, it said. The two companies have agreed to extend to the end of January the review required for due diligence and could approve a deal by then, CZG said. Terms were not disclosed.

CZG cautioned that despite «significant progress in the negotiations, no assurances can be made that the transaction will be consummated.»

CZG, based in Prague, is a manufacturer of firearms for military and law enforcement, personal defense, hunting, sport shooting and other civilian use.

Colt Defense filed for bankruptcy protection in June 2015 after failing to renegotiate payments to the owners of $250 million in unsecured bonds. Colt Defense, with its headquarters and factory in West Hartford, is the operating company formed by the 2013 merger of Colt Defense LLC and Colt’s Manufacturing Co., which made and marketed non-military guns.

It exited bankruptcy in January 2016 after working out a compromise with bondholders.

Layoffs up 17.6% during November

Layoffs spiked in November compared with the previous month and the number of job openings slipped, signaling that the job market has stalled as the resurgent coronavirus has brought about another wave shutdowns of restaurants and bars and hobbled consumer spending.

While the layoffs were concentrated among restaurants, bars and hotels, the slowdown in job postings was widespread across most industries, showing a reluctance by businesses to hire more people amid a pandemic fueled recession.

The number of open jobs at the end of November slipped 1.6% to 6.5 million, the Labor Department said Tuesday, its first drop since August. Layoffs, however, soared 17.6% to 1.9 million, driven mostly by job cuts at restaurants, bars and hotels, which more than doubled.

The economy is likely to grow at a healthier pace later this year, economists forecast, as vaccines are more widely distributed and recent government stimulus provides more money for Americans to spend. The faster growth should boost hiring, but most employers for now appear to be in wait-and-see mode.

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