DATE: Saturday, March 8, 1997               TAG: 9703080514

SECTION: BUSINESS                PAGE: D2   EDITION: FINAL 

                                            LENGTH:   72 lines

LOCAL SCENE

STOCK SPLIT AT BANK OF TIDEWATER: Bank of Tidewater in Virginia Beach declared a 5-for-4 stock split. For every four shares owned, stockholders in the community bank will receive one additional share. The additional shares will be payable March 12 to shareholders of record March 10. PENINSULA

WILLIAMSBURG BROKER CHOSEN FOR HALL OF FAME DESIGNATION: Joseph W. Montgomery, a managing director in the Williamsburg office of the brokerage firm Wheat First Butcher Singer, has been named to Research Magazine's Broker Hall of Fame. The San Francisco-based magazine said brokers are chosen for the Hall of Fame designation for their influence in the securities industry and their communities. NEWPORT NEWS

ENTERPRISE RETURNS TO NEWPORT NEWS SHIPBUILDING: The aircraft carrier Enterprise returned this week to Newport News Shipbuilding for six months of maintenance and repairs. The Navy contract is worth $70 million to the big Peninsula shipyard, which employs nearly 18,000 workers. Newport News Shipbuilding built the Enterprise in 1960 and finished a four-year overhaul and refueling of the nuclear-powered carrier in 1994. The yard will modify the ship to make it more suitable for female crew members, redeck two elevators and upgrade the propulsion and reactor systems.

SIEMENS MAY ADD MORE JOBS: Siemens plans to add 30 to 40 jobs at its Newport News plant as part of an effort to develop technology that will clean up car emissions. Siemens and Orbital Engine Corp. have formed a joint venture to develop direct-fuel injection technology for cars as well as motorcycles, snowmobiles and personal watercraft. The companies are still deciding what to call the joint venture and where to put its headquarters. VIRGINIA

BONNELL PLANS TO BUY REYNOLDS METAL PLANT: A subsidiary of Richmond-based Tredegar Industries is planning to purchase a Reynolds Metal Co. extrusion plant in El Campo, Texas. Reynolds said Friday it has signed a letter of intent for the William L. Bonnell subsidiary of Tredegar Industries to purchase the plant. The plant, which has 233 employees, produces specialized aluminum pieces such as window frames and bicycle rims. The sale is subject to regulatory approval.

LAUNCH AGREEMENT: NASA and the Virginia Space Flight Authority have signed an agreement allowing commercial satellite launches from the Wallops Island Flight Facility on Virginia's Eastern Shore, Gov. George Allen announced Friday. The deal is expected to bring 300 new jobs and $60 million in capital investment to the region, said Allen. Under the agreement, the Virginia Space Flight Center will provide a launch site for companies or individuals.

CIRCUIT CITY SALES: Circuit City Stores Inc. last year made less money in sales than its competitor for the second year in a row. Richmond-based Circuit City had $7.66 billion in sales for the fiscal year ending Feb. 28, about $11 million less than rival Best Buy's $7.77 billion in sales. Circuit City's sales included those at its CarMax used-car division in addition to its core consumer electronics store revenues. Without the CarMax revenues, Circuit City had $7.15 billion in sales. Circuit City also has more stores than Minneapolis-based Best Buy - 443 stores compared to Best Buy's 272 locations. MEMO: To submit an item for the Local Scene, please fax it to 446-2531.

Send Suggestions or Comments to webmaster@scholar.lib.vt.edu