ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, January 20, 1996 TAG: 9601220038
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
Universal secures $20 million deal
Universal Self Care Inc. said Friday it has secured a $20 million financing agreement with Daiwa Securities of America to fund future expansion.
Universal, based in Livonia, Mich., is the parent of Diabetes Self Care, which operates a sales, distribution and claims processing center at the Valley Court office center near Roanoke Regional Airport. The company provides products and services to diabetics through mail-order sales and referrals from health care professionals.
The credit line from Daiwa Securities, which is not related to Japan's Daiwa Bank, will allow the company to continue to expand and enter new markets that it currently does not serve, Universal President Brian Bookmeier said.
A profile of Universal's Diabetes Self Care division in Roanoke will appear in the Sunday Business section of The Roanoke Times.
- Staff report
Central Fidelity to rebuy shares
Central Fidelity Banks Inc. said Friday its directors have authorized the purchase of as many as 2 million shares of the corporation's common stock, which represents about 5 percent of its outstanding shares.
The purchases will be paid in either open-market or private transactions, the bank said. The repurchased shares may be used for general corporate purposes, including reissuance under various stock option and benefit plans. The number of shares actually acquired will depend on subsequent developments and corporate needs. When and if commenced, the purchases may be discontinued or interrupted at any time.
Although the authorization has no time limitation, management anticipates that this repurchase program will be accomplished over the next 18 to 24 months.
Central Fidelity presently has approximately 40.2 million shares of common stock outstanding.
- Staff report
BIll may ease employers' woes
State Sen. Jack Reasor, D-Bluefield, will sponsor legislation to ease employers' legal concerns about giving references regarding former employees.
Proponents said earlier that the General Assembly bill would curb baseless defamation lawsuits against employers who give good or bad references about ex-workers based on factual information.
Roanoke management consultant Bruce M. Wood, president of The Management Association of Western Virginia, oversaw the bill's writing on behalf of the state chapter of the Society for Human Resource Management.
The Roanoke Regional Chamber of Commerce is supporting its passage.
- Staff report
NS chief to hold seat on TI board
David R. Goode, Norfolk Southern Corp.'s chairman, president and chief executive officer, has been named to the board of directors of Texas Instruments Inc., the Dallas-based high-tech company announced Friday.
Goode, who has been NS chief since 1992, will take his seat on the TI board Feb. 1. Goode, a Vinton native, is a graduate of Duke University and Harvard Law School.
- Staff report
7 bankruptcies filed in Roanoke
Seven bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia in Roanoke. Five 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.
Simply the Best Restaurant Inc. of Norton, previously known as Le Meilleur, filed for reorganization and protection from creditors. The company listed assets of $76,800 and liabilities of $167,349.
Mildred J. Porter of Castlewood, who listed her business as farming, filed under a special section for family farms. She had assets of $55,525 and liabilities of $62,466.
Darrell Glenn Conaway of Haysi, who does business as Darrell Conaway Trucking, filed for liquidation. He showed assets of $4,888 and liabilities of $32,456.
William E. Ratcliff of Dublin filed for a wage-earner plan for repayment of debts. He had assets of $7,575 and liabilities of $28,393. He said he is self-employed at Mr. Burger.
Michael Lee Hall of Duffield filed for liquidation with assets of $72,975 and liabilities of $81,566. He said he is self-employed at a video store.
Matthew L. Redman and Rebecca A. Redman of Norton filed for liquidation with assets of $21,950 and liabilities of $42,063. Rebecca Redman runs a cleaning service.
Peggy Dotson of Hurley, a self-employed beautician, filed for liquidation with assets of $25,400 and liabilities of $36,425.
- Staff report
Briefly ...
Optical Cable Corp. of Roanoke has won an $85,470 contract from McClellan Air Force Base in California to supply fiber-optic materials.
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