THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Monday, August 29, 1994 TAG: 9408270155
SECTION: BUSINESS WEEKLY PAGE: 19 EDITION: FINAL
COLUMN: Last Week
SOURCE: BUSINESS WEEKLY STAFF
LENGTH: Short : 49 lines
Newport News Shipbuilding earmarked $30 million for capital investment in April, May and June. Virginia's Department of Economic Development said that was the state's second-largest investment in the second quarter.
The massive shipyard was among five Hampton Roads businesses that reported major capital projects in the second quarter. The five will create 155 new jobs. The projects include:
Allied Colloids Inc., a Suffolk polymer maker; invest $10 million, hire 10 people.
Al-Anon Family Groups Inc., Norfolk service agency, hire 60.
Virginia Hardwood, Hampton distribution center; hire 75.
Advanta Technology, Southampton County industrial air filter maker, hire 10.
CD rates in Hampton Roads trail other regions, said Bank Rate Monitor, a North Palm Beach, Fla., publication.
Although the Federal Reserve has raised interest rates five times since spring, rates paid to savers on certificates of deposit and money market funds have remained stingy.
Area bankers said that's because because of lackluster loan demand. The spread between CD and loan rates is shaped by an array of factors, including forecasts of future loan demand and interest rates.
Rates won't rise sharply until banks need to draw in cash for relending to businesses and consumers, bankers said.
Australia wants its own version of the Family Channel.
International Family Entertainment Inc. of Virginia Beach said it'll launch the service under Australia's newly liberalized cable distribution policy. IFE, the Family Channel parent, said it will form a joint venture with Prime Media Developments Pty Ltd. of Sydney, Australia.
MacMasters Computer Training Service of Newport News is planning an electronic bulletin board for black subscribers.
MacMasters recently signed a contract with Apple Computer Inc. to establish a national electronic bulletin-board service on Apple's fledgling eWorld on-line network.
The proposed Oct. 1 start-up will enable eWorld subscribers to tap into MacMasters' African American Information Network. by CNB