Evernest buys property management company Ringgold
Evernest, a Birmingham, Alabama-based real estate company that manages more than 7,000 rental homes and multi-family units in 20 cities across the country, has acquired DK Properties in Ringgold, Georgia.
The acquisition is Evernest’s 19th such corporate purchase and will add more than 350 homes to the company’s management portfolio.
“DK Properties has a rich history of superior customer service in Chattanooga,” Everst founder Matthew Whitaker said in a statement regarding the purchase. “We plan to maintain this legacy while improving services, developing resources and working closely with DK Properties staff to ensure a smooth transition.”
Brandon King, owner of DK Properties, said he’s known Whitaker for years and Ernest “has met my high expectations for customer service.”
“As Evernest expands our footprint in Chattanooga, we’re excited to help residents, homeowners and investors achieve their real estate goals, whatever they may be,” Whitaker said.
In addition to its real estate management, Evernest negotiates more than 700 investment transactions annually and has been on the Inc. 5000 list of fastest growing companies for five of the past six years.
The stock market has fallen 8 of the last 9 weeks
Stocks ended another bumpy week with more losses on Friday as investors viewed the decline in the US jobs market still strong.
The S&P 500 fell 1.6%, marking its eighth losing week in the past nine. Losses from big tech companies helped push the Nasdaq down 2.5%. The Dow Jones Industrial Average lost 1%.
A report showing stronger-than-expected hiring last month is good news for the economy amid concerns about a possible recession. But many investors have seen it keep the Federal Reserve on a path of aggressive interest rate hikes.
The yield on the 10-year Treasury note rose to 2.95%.
Axon sparks debate over Taser-armed drones
Taser developer Axon said this week it was working to build drones armed with electric stun weapons that could fly into schools and “help prevent the next Uvalde, Sandy Hook or Columbine.”
But his own group of tech advisers quickly dismissed the idea as a dangerous fantasy. The publicly traded company, which sells Tasers and police body cameras, last year pitched the idea for a new police drone product to its Artificial Intelligence Ethics Committee, a group of experts. respected experts in technology, policing and privacy. Some of them expressed reservations.
But they didn’t expect Axon to announce Thursday that it wants to send these taser-equipped drones into classrooms.
New York passes bill to limit cryptomining
The New York Legislature has approved a landmark environmental measure designed to curb the spread of cryptocurrency mining operations that burn fossil fuels.
Supporters and opponents say the legislation is the first of its kind in the United States. The Senate approved it early Friday, and it is now before Democratic Governor Kathy Hochul for consideration. The measure would establish a two-year moratorium on new and renewed air permits for fossil-fuel power plants used for so-called proof-of-work cryptomining.
Environmentalists say cryptomining operations that burn natural gas threaten the state’s ability to meet climate goals. Cryptocurrency proponents say the measure would hamper economic development.
Tesla owners complain about driving systems
More than 750 Tesla owners have complained to US safety authorities that cars running on the company’s partially automated driving systems have suddenly stopped on the roads for no apparent reason.
The National Highway Traffic Safety Administration revealed the number in an information request letter to Tesla that was posted Friday on the agency’s website. The 14-page letter dated May 4 asks the automaker for all consumer and field reports of false braking, as well as reports of accidents, injuries and fatalities.
— Compiled by Dave Flessner