ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, November 21, 1996 TAG: 9611210018
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
Another union vote facing USAir
PITTSBURGH - Reservations personnel and airport agents, the last major group of USAir workers who do not belong to a union, will vote Dec. 17 on whether to be represented by the Communications Workers of America.
The employees voted against representation in 1994 after a pitched battle between the United Steelworkers of America and the International Association of Machinists.
About 10,000 employees will be eligible to vote on CWA membership; votes will be counted Jan. 30.
``The company made a lot of promises during the campaign with the Steelworkers that [the company] didn't keep,'' said Marjorie Krueger, a CWA organizer. The employees ``felt they still needed a union,'' she said.
-Associated Press
Speedway lists Calif. ambitions
CONCORD, N.C. - Speedway Motorsports Inc. said its potential purchase of 800 acres in the heart of California wine country would cost $38.1 million, according to a recent securities filing.
The purchase of the land in Sonoma would be a step toward building a race car super-speedway similar to tracks Speedway owns in Atlanta and Charlotte, N.C.
The option to buy the land was included in Speedway's Oct. 24 purchase of Sears Point Raceway, the company said in a filing with the U.S. Securities and Exchange Commission. Speedway can exercise the option after three years. The price of the option is $3.5 million.
Sears Point, near San Francisco, is a two-mile road course. Speedway also owns tracks in Texas and Bristol, Tenn.
-Bloomberg Business News
CS First Boston charged with fraud
The Securities and Exchange Commission charged CS First Boston Corp. with securities fraud Wednesday in connection with a 1994 underwriting of $110 million in pension bonds for Orange County, Calif.
CS First Boston, a unit of CS Holding, is the first major Wall Street firm to be sued by the SEC in what is expected to be a series of legal actions by the government against brokerage firms that underwrote bonds and notes for the county, which filed for municipal bankruptcy in December 1994.
The financial health of these debt offerings was related to a county investment pool, whose deteriorating condition, the government contends, was not disclosed to investors.
CS First Boston denied the charges Wednesday and said it would defend itself vigorously.
Orange County suffered $1.6 billion in losses when the investment pool, which was filled with risky securities, collapsed in value. CS First Boston said former Orange County Treasurer Robert Citron was responsible for the problems. It called the suit a ``technical dispute'' over how much investigation and disclosure is required by an underwriter in a municipal bond offering.
-The New York Times
LENGTH: Medium: 63 lines KEYWORDS: AUTO RACINGby CNB