Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, November 18, 1995                   TAG: 9511200077
SECTION: BUSINESS                    PAGE: A-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

Roanoke-based Moore's Lumber and Building Supplies is to receive the 1995 Associate of the Year award tonight from the Virginia Home Builders Association. The award is presented annually to the associate member - an individual or company - for efforts at the state level of the association. Moore's is being cited for its recent reorganization to focus its business on professional contractors, which account for 75 percent of the company's customers.

Moore's, which was founded in Roanoke in the mid-1950s, has 52 lumberyards in 10 states. It employs 400 people in Virginia and 1,800 companywide.

- Staff report

Tax conference still scheduled

Virginia Tech will hold its 35th Annual Farm and Small Business Tax Conference at the Roanoke Airport Marriott hotel Monday and Tuesday. The conference will include speakers from the Internal Revenue Service and will not be affected by the federal budget crisis and government shutdown, according to conference organizers.

Carmike Cinema biggest in U.S.

Carmike Cinema, a Columbus, Ga., chain of movie theaters with operations in Roanoke and Salem, said its purchase this week of 46 movie theater screens makes it the largest movie operator in the country, surpassing United Artist Theaters Inc. by six screens.

Carmike has 2,331 screens and more than $232 million in annual ticket sales. In the latest deal, the company paid cash Tuesday for Cinemark USA Inc. theaters in Mobile, Ala.; Dublin, Ga.; Kentucky and Tennessee.

``We knew we were going to be No. 1 sometime between October and the middle of January,'' said CEO Mike Patrick, who founded the company with his father, Carl Patrick Sr.

Carmike is negotiating to buy another theater circuit and will open 81 new theaters before Christmas, Mike Patrick said.

- Associated Press

7 more Kmarts shutting doors

TROY, Mich. - Kmart Corp. said Friday it was closing seven stores that fell short of sales and profit requirements. The action, to take place at the end of January, will result in the elimination of 649 jobs.

The struggling retailer, which announced the decision Friday, said five of the stores are located in California, one is in Grand Haven, Mich., and one is in Greensburg, Pa.

Kmart reported its 11th straight quarter of disappointing earnings Thursday, a third-quarter loss of $69 million. It has been working to cut costs, focus on its core discount-store business, and increase sales and profit margins.

The discounter closed 121 stores in 1994 and 207 this year, displacing a total of about 25,000 people. The company operates 2,167 Kmart stores and 168 Builders Square outlets in the United States and has 147 stores abroad.

- Associated Press

Westinghouse set to take CBS

WASHINGTON - Federal regulators are prepared to remove the last obstacle to Westinghouse Electric Corp.'s $5.4 billion takeover of CBS Inc. after the government's partial shutdown is over.

The deal, approved by CBS shareholders Thursday, had been hung up at the Federal Communications Commission.

FCC attorneys, speaking on condition of anonymity, said Friday the commissioners tentatively agreed to avoid directly linking approval of the takeover with Westinghouse's voluntary decision in September to air more educational shows for children.

The commissioners had been divided over whether the two should be linked in any way.

- Associated Press

Bankruptcies

Three bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. All of them are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.

Hong Ki Min of Roanoke filed for reorganization and protection from creditors, listing assets of $1,992,321 and liabilities of $2,642,891. Min is an insurance agent and engaged in rental real estate.

Harry J. Hughes and Juanita H. Hughes of Pulaski filed under a special section for reorganization of family farms. They had assets of $203,725 and liabilities of $528,247.

Sylvia A. Wade of Roanoke, a self-employed hairdresser, filed for a wage-earner plan for repayment of debts. She reported assets of $13,093 and liabilities of $53,286.