Business | WABE 90.1 FM


Business news

Atlanta – Suburban Lodges of America Inc. ended 2001 in the red, unable to overcome the recession and the falloff in travel following the Sept. 11 terrorist attacks.
The Atlanta-based hotel owner and franchisor (Nasdaq: SLAM) reported a net loss of $15.4 million on $75.5 million in revenue, compared with net income of $5.3 million on $75.3 million in revenue in 2000.
The results for 2001 include a $12.2 million loss on loans to HotelTools Inc., $1.5 million in charges related to the agreement to merge with Intown Suites Management Inc. and other charges.

Atlanta – After several terminal closings, jobs cuts and a divestiture, Allied Holdings ended 2001 deeper in the red.
The Decatur-based automotive logistics company (NYSE: AHI) had a net loss of $39.5 million on $896.8 million in revenue for 2001, compared with a net loss of $6.3 million on $1.1 billion in revenue for 2000.

Atlanta – The Democratic National Committee (DNC) said 10 cities, including Atlanta, will receive official requests for proposals to host the 2004 Democratic National Convention.
In addition to Atlanta, Baltimore, Boston, Chicago, Dallas, Detroit, Houston, Miami, New York City and Pittsburgh received requests.