Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, October 9, 1993 TAG: 9310090048
SECTION: BUSINESS PAGE: A4 EDITION: METRO
SOURCE: Associated Press and Staff reports
DATELINE: WILLIAMSBURG LENGTH: Medium
The spending shows the state's economy is strengthening, said Roy Pearson, director of the College of William and Mary's Bureau of Business Research.
New-car sales rose 31 percent statewide, and sales of big-ticket items were up 17.7 percent, Pearson said. Building permits were up 9.6 percent. Retail sales excluding big-ticket items were up 7.2 percent, he said. - Associated Press
Marriott giving share in its new company
Marriott Corp. said Friday it has completed the special dividend that is part of its plans to divide into two companies.
Shareholders on Sept. 30 are receiving one share of Marriott International Inc., a new lodging and services management company, for each common share they own in Marriott Corp. Marriott has been renamed Host Marriott. - Staff reports
Lawyers Title Corp. offers common stock
Lawyers Title Corp., Richmond parent of Lawyers Title Insurance Corp., with operations in Roanoke, said Friday it has registered with the Securities and Exchange Commission a public offering of up to 1,495,000 shares of its common stock. - Staff report
Robertson company offers to buy network
VIRGINIA BEACH - The parent company of The Family Channel made a $40 million offer Friday to buy The Nostalgia Network Inc., a cable television channel that runs older movies and TV shows.
International Family Entertainment Inc. said its proposal to Nostalgia's board of directors includes paying $1.50 in cash and 50 cents in IFE common stock for each share of Nostalgia common stock. Each share of Nostalgia preferred stock would receive $150 in cash and $50 in IFE common stock.
IFE is a for-profit spinoff of religious broadcaster Pat Robertson's Christian Broadcasting Network. - Associated Press
Agency warns parents about playpen hazard
WASHINGTON - Improper assembly of two types of playpens could cause them to collapse and seriously injure infants, federal consumer safety officials said Friday.
A 1-year-old child was killed and three other babies were injured when mesh-sided "Home and Roam" playpens manufactured by Baby Trend Inc. collapsed because the top rails were not locked in place, the Consumer Product Safety Commission said.
The 40-inch-by-40-inch and the 28-inch-by-40-inch models were sold as "Baby Trend" and "Baby Express."
The commission and the company asked parents to make sure the top rails of the playpens are locked. Consumers should call Baby Trend at 1-800-234-1879 to receive new assembly instructions. - Associated Press
Bankruptcies
Two Roanoke companies have filed petitions in U.S. Bankruptcy Court for the Western District of Virginia, seeking protection from creditors:
Dominion Roofing Corp. filed for reorganization. The commercial roofing and sheet metal business is at 2745 Shenandoah Ave. N.W. Charles T. Meredith, president, estimated assets between $100,000 and $499,999 and liabilities between $500,000 and $999,999.
William Odell Thomas Jr. and Michelle Lynnette Thomas of Mount Pleasant Boulevard filed for liquidation. William Thomas is the owner of Thomas Auto Repair at 3406 Melrose Ave. N.W. They showed assets of $4,140 and liabilities of $36,970.
Briefly . . .
VTLS Inc. of Blacksburg said it has completed installation of new computer systems for the Chesapeake Public Library. The software package for 150 terminals in six libraries controls the catalog, circulation, cataloging and management of the collection.
HCMF Real Estate & Housing Management Corp. has relocated its Roanoke Valley office to 2840 Electric Road, in the Colonnade Corporate Center.
ACS Inc., a Vinton satellite television and communications dealer, has moved its corporate office to 2321 Orange Ave N.E., Roanoke. The company now operates as ACS Home Entertainment Gallery, specializing in custom-designed home theater systems.
by CNB