Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, February 8, 1992 TAG: 9202080267
SECTION: BUSINESS PAGE: A-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Lewis-Gale buys shopping centerLewis-Gale Building Corp., an affiliate of Lewis-Gale Clinic, said it has purchased the Lee-Hi Shopping Center on Brandon Avenue for $1.4 million.
The clinic expects to use by late April one of two vacant stores in the center as a warehouse for supplies and equipment, Administrator Darrell Whitt said Friday.
"We had outgrown the warehouse we had been renting and were even considering building a new one," Whitt said. "We thought this would be a much better opportunity in case we ever need more land."
The 19.6-acre center was bought from Brenco, a North Carolina partnership. It contains a dozen stores, including a vacant Brendle's discount store and vacant Kroger supermarket. Lewis-Gale plans to continue leases with the stores now renting space, Whitt said. - Staff report
Signet Bank agrees to pact on policies
Signet Bank N.A., a unit of Signet Banking Corp. of Richmond, said Friday it has agreed to enter a written pact with the Office of the Comptroller of the Currency on measures to improve profits, capital and credit quality and prescribing minimum capital ratios.
The agreement is expected to deal with lending policy, loan administration and review, the allowance for loan losses, criticized assets, credit and collateral exceptions and appraisal policy. The bank also will develop profit and capital plans designed to maintain certain minimum capital ratios. The agreement includes periodic progress reports. - Staff report
USAir, union agree to cost-cutting talks
CHARLOTTE, N.C. - The union representing 5,519 USAir pilots has offered to negotiate with the financially troubled airline over employee concessions that USAir says it needs to cut costs.
It's the first step toward USAir's plan to save $400 million by reducing employee salaries and making other cuts.
The USAir master executive council of the Air Line Pilots Association, meeting this week at Charlotte's Marriott City Center hotel, said in a statement the union would agree to talks and "will offer to make investments through cost savings in exchange for appropriate returns on investments and important contract protections."
USAir's cost-cutting efforts include proposals to trim employee pay, have employees pay a larger share of their health-insurance premiums and changes in the airline's pension plan. The airline has lost more than $739 million over the past two years. - Associated Press
Finance company settles SCC charges
Beneficial Virginia Inc., a consumer finance company with offices in Roanoke, has paid the State Corporation Commission $42,500 to settle alleged violations of the Virginia Consumer Finance Act.
The company did not admit or deny the allegations. An SCC spokesman said they had nothing to do with loans or interest rates, but were related to procedures.
The claim of violations came after the SCC's Bureau of Financial Institutions conducted examinations of the company's Virginia offices.
Robert Wade, spokesman for Beneficial, said the offices had "a lot of clerical problems." Beneficial had similar problems in 1990 and paid the SCC $15,000 in settlement then.
Beneficial, which has 27 Virginia offices, is a Delaware company headquartered in New Jersey. - Staff report