Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, December 24, 1994 TAG: 9412270086
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
NEW YORK - A federal judge Friday cleared Delta Air Lines of driving Pan American World Airways out of business in 1991 and ordered Pan Am to repay Delta about $150 million.
Pan Am had sought $2.5 billion from Delta, claiming the Atlanta-based airline had forced it to shut down by withholding the last bit of financing needed to finish Pan Am's bankruptcy reorganization.
U.S. District Judge Robert Patterson Jr. also ordered Pan Am to repay $115 million Delta lent Pan Am during its bankruptcy. Delta said the interest bill totaled $30 million.
Delta's stock price was up $3.871/2 a share to $49.621/2 in the New York Stock Exchange.
- Associated Press
Was there a train under your tree?
U.S. freight railroads carried 8,000 miles of Christmas trees this year. If laid end to end, they'd stretch from Washington, D.C., to the North Pole and back, according to the Association of American Railroads.
It took 3,600 railroad cars traveling over 160,000 miles of track to get the 64,000 trees to their destinations. Freight trains also delivered nearly 215,000 tons of toys and sporting goods this year.
And they also delivered 534 million tons of coal.
- Associated Press
Vermont says no to Wal-Mart store
MONTPELIER, Vt. - A state board Friday denied a permit to build the first Wal-Mart in Vermont, fearing it will drive smaller stores out of business.
Nearby towns stand to lose tax revenue if their stores have to shut down because of competition from Wal-Mart, the Environmental Board ruled.
The board estimated there would be $3 of public cost for each $1 of public benefit generated by the store proposed near St. Albans in northwestern Vermont.
Officials from Wal-Mart, the nation's largest retailer, said they would try again with an application that addresses the board's concerns. The board wants Wal-Mart to put up a bond or an impact fee that would ease the burden on any community hurt by the project.
Vermont is the only state in the nation without a Wal-Mart.
- Associated Press
by CNB