Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, August 25, 1994 TAG: 9408250102
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WOODBRIDGE - Virginia Railway Express is proposing to pay $3.45 million to Norfolk Southern Corp. and CSX Transportation, two railroad companies that own tracks used for its commuter line - more than twice the current amount.
The increased costs would go toward expansion of VRE service. But it remains unclear how many more daily runs will be added.
The commuter rail service, which runs from Fredericksburg and Manassas to Washington, D.C., is seeking to extend its two-year agreement, which runs out at the end of the year.
Stephen Roberts, VRE operations director, said the increase was contained in VRE's proposed budget released this week.
Randy Evans, a vice president for CSX Transportation, said Wednesday he remains optimistic about reaching a deal with VRE.
A major sticking point is how expanded commuter service would affect freight schedules.
Under the current tagreement, CSX is paid $1.1 million and NS receives about $530,000, for a total of more than $1.6 million.
Another issue is a third set of tracks from Richmond to Washington. CSX supports another track, but VRE officials have said there is plenty of capacity on the existing lines with less-costly improvements.
- Associated Press
IBM cuts prices for businesses
NEW YORK - Countering a rival's price reduction, IBM on Wednesday cut prices on personal computers it sells to business customers by 12 to 25 percent.
The cuts come as IBM prepares to introduce new models next month. Last week, Compaq Computer Corp. also cut prices 7 to 22 percent in advance of a new product introduction.
While some news accounts have suggested a price war is imminent in the industry, the actions by the two leading PC makers so far have amounted to nothing more than the normal price cutting that occurs before products are refreshed.
Among the cuts announced was the price of IBM's ThinkPad 510Cs, a ``subnotebook'' computer with a color screen, by 25 percent from $2,399 to $1,799.
The price cuts do not affect the desktop PCs IBM sells through stores to consumers. The company also plans to roll out new models in the consumer line this fall.
- Associated Press
GM recalls 67,000 Cadillacs
DETROIT - General Motors Corp. is recalling 67,000 Cadillacs to reroute an oil cooler line that could wear through, leak oil into the engine compartment and cause a fire. The company said it had reports of 24 fires and two minor injuries related to the defect.
The recall affects the entire production runs of 1993 Allante models and 1993 and 1994 Seville touring sedans and Eldorado touring coupes, GM spokesman Steve Gaut said Wednesday.
- Associated Press
Gas prices up for Labor Day
The $1.198 national average price for self-serve regular unleaded gasoline is the highest for a Labor Day holiday since 1990 and nearly a dime per gallon more than last year, the American Automobile Association reported.
The motor club's monthly fuel price survey shows motorists haven't paid this much for self-serve unleaded since the price was $1.225 per gallon in January 1991.
Self-serve regular unleaded is 5.5 cents higher than last month, when the price was $1.143 per gallon.
Compared with last Labor Day, the national average price for mid-grade self-serve unleaded increased 9.4 cents to $1.29 per gallon, and self-serve premium rose 8.9 cents to $1.371.
- Staff report
Coal production rises 4 percent
CHARLESTON, W.Va. - Domestic coal production totaled 20.5 million tons during the week ending Aug. 13, up 4 percent from the 19.6 million tons produced the previous week, the U.S. Department of Energy reported Monday.
The U.S. coal industry produced 17.1 million tons in the same week last year, according to the department's Energy Information Administration.
Domestic coal production so far this year is 635 million tons, 8 percent ahead of last year's production at this time.
- Associated Press
by CNB