Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, December 30, 1993 TAG: 9312300133
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Victor F. Foti, a Roanoke CPA, is among investors in Western Sizzlin Corp., which has assumed control of Western Sizzlin Restaurants. Foti owns five of the franchise restaurants in the Roanoke Valley.
A spokesman for the new corporation said Foti was among 21 franchisees investing in the venture, which grew out of the Chapter 11 reorganization of Western Sizzlin Restaurants.
The company's headquarters are being moved from Dallas to Nashville, Tenn., the home of Dave Wachtel, president and chief executive of the new corporation. Wachtel, who provided most of the capital for the company, is a former Shoney's executive and a developer of the O'Charley's chain.
He said the company plans to open 100 new restaurants in the next five years, including several company-owned ones.
Foti recently launched Victor's restaurant at Grand Pavilion on Virginia 419. - Staff report
Briefly . . .
System 4 Advertising Agency Inc. of Roanoke said it has been named agency of record for the Bank of Floyd, which has offices in Roanoke County and Floyd. System 4 will be responsible for creative services and media purchases for the bank's advertising.
VTLS Inc., a Blacksburg computer software company, said it has installed a version of its integrated library automation software at Kirkwood Community College in Cedar Rapids, Iowa. Also, in conjunction with its Middle Eastern agent, Al Hasseb, VTLS said it contracted to automate the library of United Arab Emirates University.
Smithfield Foods Inc., citing strong holiday ham sales and improved fresh-meat margins, said Wednesday it expects its fiscal 1994 third-quarter earnings to be substantially better than those in the 1993 quarter. Smithfield Foods is the parent of Valleydale Foods Inc. of Salem.
by CNB