Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: WEDNESDAY, February 12, 1992 TAG: 9202120146
SECTION: BUSINESS PAGE: C5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Cement plant union rejects another offerUnion employees at Roanoke Cement Co. rejected a contract renewal offer Tuesday for the second time in a month, but a union official said there are no plans to strike.
Members of Local D-314, International Brotherhood of Boilermakers at the Botetourt County plant turned down the contract 117 to 33. In January, the vote was 35 to 1 against the offer.
"I hope we can get back to the bargaining table. We are willing to talk. We have no plans to strike," said Jeffrey Stump, local union president. He said the bargaining committee presented the company offer to the membership without a recommendation. "We let each man decide."
An increase in insurance payments for employees and retired workers was the major issue, Stump said.
Ed Pittman, Roanoke Cement vice president, said the union has the company's "best and final offer." He said the company considers it's proposed pay increase of $2 an hour "a fair offer, particularly in these economic times." He said this was among the best offers in the cement industry in the past two years. - Staff report \
Some gas prices fall to Easter '90 level
The average price of self-serve regular unleaded gasoline fell 0.4 cent per gallon this week to $1.045, the American Automobile Association said.
AAA's Fuel Gauge Report showed the national average gas price has fallen for 12 consecutive weeks, down 9.9 cents per gallon since Nov. 19. This week's price is the lowest since self-serve unleaded averaged $1.026 prior to Easter 1990.
The nationwide average price of self-serve regular leaded gasoline rose 1.1 cents to $1.056 per gallon. The self-serve mid-grade unleaded average is 0.7 cent lower at $1.145 and self-serve premium fell 0.6 cent to $1.232. - Staff report
\ Environmental firm wins research grant
BLACKSBURG - Biological Monitoring Inc., an environmental consulting firm, has received a $50,000 grant from the National Science Foundation. It allows further research on the company's Bio-Sensor water quality monitoring system.
The grant was made through the foundation's Small Business Innovative Research program and is the second one received from the foundation this year. Biological Monitoring has won five such grants since its founding in 1980. - Staff report
\ Earnings . . .
\ ITT Corp., a New York-based conglomerate with industrial and defense operations in Roanoke, reported Tuesday fourth-quarter net income of $195 million, or $1.44 per share, up 132 percent from $84 million, or 65 cents, in 1990. Sales and revenues were $5.4 billion, down 1.8 percent from $5.5 billion.
Net income in 1991 was $817 million, or $6.05 per common share on a fully diluted basis, down 14.7 percent from $958 million, or $6.85. Sales and revenues were $20.4 billion, off 1 percent.