Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, February 27, 1992 TAG: 9202270108
SECTION: BUSINESS PAGE: B5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Senate bank panel confirms GreenspanWASHINGTON - Despite the complaints of many senators that the Federal Reserve had moved too slowly to end the recession, the Senate Banking Committee on Wednesday voted overwhelmingly to confirm Alan Greenspan to a second four-year term as chairman of the central bank.
The vote was 20-1, with Sen. Alfonse M. D'Amato, R-N.Y., casting the vote against.
"I have been continually asking the Fed to lower rates," D'Amato told reporters as senators entered the committee's hearing room to cast their votes. "They should have been lowered long ago. There has been a lot of unnecessary pain."
The full Senate still has to vote on reconfirming Greenspan, and committee officials said no date had been set for the vote. - The New York Times
\ Burley quota cut; price support up
The U.S. Department of Agriculture has reduced its burley tobacco marketing quota for the 1992 crop year by 8 percent but increased the crop support price by 4 percent or 6 1/2 cents.
The USDA has set a crop marketing quota of 670 million pounds, down from 726 million pounds in 1991.
The price support level has been set at $1.649 per pound compared with $1.584 last year.
A marketing assessment of 0.8245 cents per pound will be levied on both growers and buyers for a total of 1.649 cents per pound. An assessment to maintain the program at no cost to the taxpayers will be announced later.
Virginia produces about 23 million pounds of burley tobacco, most of it in the southwest portion of the state. - Staff report \
FCC studies rules curbing radio stations
WASHINGTON - The Federal Communications Commission is considering whether to do away with its rules restricting the number of radio stations a single company can own.
Broadcast owners now are limited to 12 AM, 12 FM and 12 TV licenses. The rule is designed to prevent control of the airwaves by a few big companies.
But an FCC staff report sent to the commission last week notes the radio stations are in tight competition for limited advertising revenue and the industry is ailing. - Associated Press
\ ETS, government to develop air tests
ETS International Inc. of Roanoke said Wednesday it has won a government contract to help the Environmental Protection Agency devise new methods for air emission testing. The contract is for one year with options for two additional years. With all the options, the contract would be worth $2.3 million.
Marc McKenna, marketing coordinator, said amendments to the Clean Air Act in November require testing of smokestacks for a long list of toxic substances in addition to gases and particulates covered by law in the past.
He said ETS will develop new methods for testing for these toxins and will help the EPA establish testing methods and standards. - Staff report