THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, October 8, 1996 TAG: 9610080435
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 45 lines
Norfolk Southern Corp. announced Monday that it will close its locomotive overhaul and repair shop in Chattanooga, Tenn., in January. The work will be transferred to the Norfolk-based railroad's other locomotive shop in Roanoke. The shop's 60 employees will be offered jobs in Roanoke or elsewhere in the company. Norfolk Southern will still have a diesel shop, a locomotive paint shop and a car shop in Chattanooga employing nearly 400 workers. The closing should reduce overhead costs and repair times, a spokesman said. (Staff) Emery Worldwide brings daily cargo jet to Norfolk
Emery Worldwide, an international freight service, has begun daily service between its Dayton, Ohio, hub and Norfolk International Airport. The service will allow Emery to offer Hampton Roads customers overnight, next-morning service throughout North America. The jet is a Boeing 727. It will arrive from Dayton in Norfolk at 6:31 a.m. and leave at 8:40 p.m. each day. Based in Redwood City, Calif., Emery is a subsidiary of Consolidated Freightways Inc., of Palo Alto, Calif., a $6-billion diversified transportation company. (Staff) State treasury notes rated `F-1+' by Fitch
The Commonwealth of Virginia Treasury Board's $25 million State Instrumentality Notes, 1996 series (commercial paper), are rated `F-l+' by Fitch Investors Service. The notes are expected to be issued in late October. Goldman Sachs & Co. will be the dealer and Bankers Trust Co. the issuing and paying agent; liquidity will be furnished by the Bank of Nova Scotia, New York Agency. The notes will provide temporary financing for the Virginia Public Building Authority (VPBA), in anticipation of bonds to be issued at a later date. VPBA's bonds are rated `AA' by Fitch. (Staff) Mitsubishi, Motorola to cooperate on new chip
Mitsubishi Electric Corp. of Japan and Motorola Inc. said Monday they plan to share technology for a new all-in-one chip that could make various information devices faster to use. The chip would combine central processing and memory, functions now usually carried out by different chips. Mitsubishi and Motorola, based in Schaumburg, Ill., said they will jointly develop the chip and promote it together, but will each produce it separately. The new chip could dramatically increase data processing speed. Applications include personal digital assistants, printers and portable telephones. (Associated Press) by CNB