Another day, another big deal in Virginia's banking industry.
First Union, the largest bank in our area, has announced a deal to merge
with Signet of Richmond.
Double Boxes=Melanie and Len/Newsroom
Len Besthoff joins us with more on the transaction.
Len, First Union already had a large presence in Virginia, why did it make
Melanie, people familiar with the banking industry say First Union wanted to
play catch up with its North Carolina rivals, which had gained a much larger
presence in Virginia.
First Union says this deal makes sense for a number of reasons.
(Rollcue: number of reasons )
SUPER=03-Roanoke/File Tape; :06
SUPER=03-Roanoke Co.; :11
SUPER=01-Ben Jenkins/First Union; :23
SUPER=01-Peter Dawyot/Catawba Capital Management; :50
OUT Q=New Jersey
IN Q=It's really
OUT Q=I think.
The deal will make First Union the largest bank in Virginia in terms of
It had been fourth on the list.
There will be some overlap between First Union's operations in Virginia, and
those owned by Signet, especially in branches and back office operations.
First Union says it expects to gain a major cost savings by eliminating
IN Q=We've got
OUT Q=support areas.
The topic of the union of First Union with Signet was brought up just
yesterday on this station's On Record program.
IN Q=It's a good fit
((PETER DAWYOT/CATAWBA CAPITAL MANAGEMENT: IT'S A GOOD FIT. IT PROVIDES FIRST
UNION WITH INCREASED PRESENCE IN BOTH RICHMOND THE TIDEWATER AREA, PLUS
ADDITIONAL ASSETS IN MARYLAND, WHICH BRIDGES THE CONNECTION BETWEEN VIRGINIA
ALL THE WAY UP TO NEW JERSEY.))
OUT Q=New Jersey.
Melanie First Union expects to complete this deal by the end of the year,
pending federal approval.
Double Boxes=Melanie and Len/Newsroom
This would leave Virginia with just two large, independent banks, Crestar
and First Virginia.
((QUESTION: WHAT DOES THIS MEAN FOR FIRST UNION'S REGIONAL HEADQUARTERRS IN
The F-B-I fears suspected serial killer Andrew Cunanan may have a hit list.
Agents have begun warning those who they fear could be his next targets.
Investigators believe Cunanan is either seeking revenge on people he thinks
have crossed him-- or is working his way down a list of wealthy gays and art
Authorities have launched a nationwide search, although they say
they think Cunanan remains in south Florida -- perhaps posing as a
((BARRETO: IT'S VERY DIFFICULT FOR HIM TO HIDE.. SO I WOULDN'T PUT IT PAST
HIM TO DO ANYTHING THAT MIGHT DISGUISE HIS IDENTITY. ))
SUPER=01-Richard Barreto/Miami Beach Police Chief;
OUT Q=HIS IDENTITY.
The 27- year- old is the prime suspect in five killings in four states,
including fashion designer Gianni Versace.
In New York City, At least seven people have been arrested for smuggling
deaf Mexican nationals into the U-S to be used as slaves.
SUPER=03-New York, NY;
Authorities say at least 57 people were living in two small houses and forced
to sell trinkets in the city's subway system.
According to Mayor Rudolph Guiliani, deportation proceedings will be delayed
so the immigrants may testify against their alleged captors.
The Red Cross is now caring for the immigrants, among them 12 children ages
6 months to 16.
(( Some of the children are US citizens..so they
have a legal right to be here--we also want to keep then here so they can help
us in the prosecution of the people who have done this to them. ))
SUPER=01-Rudolph Guiliani/New York City Mayor;
OUT Q=of these cases
Authorities suspect the alleged ringleader is still at large.
The leader of Northern Ireland's main protestant party wants specifics on
the day old cease-fire by the I-R-A.
David Trimble is meeting with British Prime Minister Tony Blair at this hour
to discuss the disarming of the I-R-A.
Meantime the political ally of the I-R-A, Sinn Fein, is insisting the truce
is for keeps.
((ADAMS: THE DECISION BY THE IRA IS A MOMENTOUS ONE...FORWARD LOOKING DECISION.
SUPER=01-Jerry Adams/Sinn Fein;
OUT Q=forward looking decision.
But the question of whether the agreement will hold was on the minds of
Catholics and protestants at church
And some I-R-A sources tell newspapers that if no significant progress is
made within four months.. the cease fire will end.
A Blacksburg man has been charged with driving into a Narrows police
The police chief says Officer Mike (WEECE) Weiss was standing on Route 4-60
next to a stopped vehicle.
A car driven by 26- year- old Kenneth Lewis White swerved off the shoulder
of the road and hit Officer Weiss.
White has been charged with driving under the influence, and attempted
capital murder of a police officer.
Officer Weiss was released from the hospital last night.
The formal debating has begun for the candidates for governor.
Denise Allen reports.
IN Q=Republicans say Don Beyer
SUPER=01-Don Beyer/(D) Candidate For Governor; :00
SUPER=03-Wh. Sulphur Springs/Saturday; :09
SUPER=01-Richard Cullen/Attorney General; :17
SUPER=01-Jim Gilmore/(R) Candidate For Governor; :52
SUPER=01-Jerry Baliles/(D) Former Governor; 1:02
OUT Q=News 7
SOT tape 1 10:20:05
IN Q=It will phase
((DON BEYER/D-CANDIDATE FOR GOVERNOR: IT WILL BE PHASED IN FULLY IN 1998. IT
COST HALF OF WHAT GILMORE'S PLAN COST IN THE NEXT FOUR YEARS AND A SIXTH AFTER
WE'VE LEFT OFFICE.))
OUT Q=WE;VE LEFT OFFICE
Republicans say Don Beyer made a major concession when he revealed his
answer to Jim Gilmore's proposed plan to eliminate the personal property tax.
SOT tape 3 11:52:04
IN Q=I SAW HIM
((RICHARD CULLEN/ATTORNEY GENERAL: I SAW HIM GOING RIGHT TO DON BEYER ON THE
CENTER PIECE OF HIS CAMPAIGN THAT IS THE PEOPLE WANT PERSONAL PROPERTY TAX
RELIEF. GILMORE PROMISES THAT HE IS GOING TO GIVE THAT TO THE PEOPLE THE BEYER
CAMPAIGN POLLSTER TOLD THEM GILMORE'S SCORING BIG POINTS AND THEY'RE COMING UP
WITH A DESPERATE PROPOSAL THAT'S TOO LITTLE TOO LATE.))
OUT Q=TOO LITTLE TOO LATE
Democrats, not surprisingly, see it differently.
They say Jim Gilmore avoided answering questions on key issues, such as
abortion, affirmative action and school funding.
SOT tape 3 11:21:46
IN Q=why is it
((JIM GILMORE/R-CANDIDATE FOR GOVERNOR: WHY IS IT THAT IT TOOK THE
ALLEN-GILMORE ADMINISTRATION TO BEGIN TO TALK ABOUT STANDARDS IN EDUCATION AND
TOUGH EFFORTS TOWARD READING, MATH AND SCIENCE AND HISTORY. WHERE WERE THEY IN
THE PREVIOUS ADMINISTRATION WHEN THEY WERE SIMPLY THROWING MORE MONEY AT IT.))
OUT Q=MONEY AT IT
SOT tape 3 11:48:57
IN Q=MR GILMORE
((JERRY BALILES/FORMER GOVERNOR: MR GILMORE IS DUCKING THE QUESTION OF
WHETHER PUBLIC FUNDS SHOULD BE USED FOR PRIVATE RELIGIOUS SCHOOLS. THOSE THREE
ISSUES WERE AVOIDED AND EVADED AND MY GUESS IS WE'LL SEE A LOT MORE OF THAT IN
OUT Q=in the future
Both sides say the two candidates used the debate to point out their
And both democrats and republicans agree--regardless of who becomes the next
governor, Virginians will see a decrease in personal property taxes.
Denise Allen News 7.))
"Danny" refuses to let up on Alabama.
The National Weather service says the remnants of Hurricane "Danny" could
drop another ten to 20 inches of rain over the state as it continues its slow
trek to the northeast.
Danny has already dumped more than 30 inches of rain in Alabama in the last
Thousands are without power and many homes and businesses have been
Despite a court order to give way, Canadian fishermen are still blocking an
Alaskan ferry in British Columbia.
Canada's fisheries minister is on his way to the province, hoping to end the
so called U-S- Canadian Salmon War.
Canadian fisherman are upset that Alaskans have been intercepting salmon
before they reach Canadian rivers and streams.
A suspect has been arrested in the shooting death of a Lynchburg man.
Police arrested a 17- year- old in connection with the Tuesday murder of
Steven W. Withers.
The teen is being charged with murder and illegal possession of a fire arm.
The suspect is being held at the Lynchburg Juvenile Detention Center.
Stonewall Jackson's faithful steed was laid to rest yesterday.
A fife and drum corps played Dixie as Little Sorrel's (Sore-ol'S) cremated
skeleton was buried at the base of a bronze statue of Jackson.
Jackson rode the sorrel colored horse in his famous Shenandoah Valley
Campaign in 18-62.
IN Q=this internment
((KEITH GIBSON/VMI MUSEUM EXEC. DIR.: THIS INTERNMENT OF LITTLE SORREL'S BONES
WAS INDEED THE HIGHEST ORDER HERE ON THE PARADE GROUND WHERE THEY CAN BECOME A
PART OF THE HERITAGE THAT SURROUNDS OUR STUDENTS.))
SUPER=01-Keith Gibson/VMI Museum Exec. Dir.;
OUT Q=OUR STUDENTS
After his master's death Little (Sore- ol) Sorrel lived on the V-M-I parade
grounds until he died in 18-85.
GRAPHIC=News 7 Feedback
Criticism over our coverage of the smart road project took the spotlight in
this week's viewermail.
Assignment editor Joe McKean has more on that in this week's News-7
IN Q=The groundbreaking ceremonies
OUT Q=McKean, News-7.
((The groundbreaking ceremonies for the smart highway featured scores of
dignitaries and a handful of protesters.
A viewer from Blacksburg thought in general that we missed the story.
"The protesters were a very nominal part of an otherwise uplifting and
memorable experience for over 400 cheering supporters," he wrote. "Yet your
report cast a very skewed and distorted message for your viewers. That some
effort would be made by project opponents to disrupt the dignity of the event
by interrupting Governor Allen was far less surprising that [your] willingness
to play into the hands of the media-savvy antagonists."
The Smart Road is expected to create an estimated 318 jobs for eight years
in construction, $100 million in research for Virginia Tech and $300 million
in associated economic development over the next 20 years. Yet WDBJ chose to
lead off the six o'clock news that night with the account of a traffic
accident. Go figure."
News-7 welcomes your comments on our news coverage or topics in the news.
Letters should include your name and address and be sent to News-7 Feedback,
P.O. Box 7, Roanoke, 24022-0007.
Our fax number is 540-343-7269.
News-7's email address is firstname.lastname@example.org.
Or leave a message in the moderated forum of our home page, at
Joe McKean, News-7.))
It wasn't expensive antiques that brought collectors in droves to the
Roanoke Civic Center this weekend, it was stuffed animals.
Not just any stuffed animals though, young and old alike filed into the
Civic Center for Beanie Babies.
More than 80 current and retired designs were up for sale or trade.
While many of the stuffed animals went for a few dollars, some went for
hundreds of dollars.
Take the case of Humphrey the Camel. He costs more than 900-dollars.
IN Q=HE'S THE HARDEST
((BEN FISHER/ORGANIZER; HE'S THE HARDEST BEANIE BABY TO FIND. HE WAS RETIRED
ABOUT 3 YEARS AGO. HE'S ONE OF THE BEST BEANIE BABIES YOU CAN GET.))
OUT Q=YOU CAN GET.
Organizers say they were very pleased with the turnout for the event.
They say they'll return to the Star City for another Beanie Baby bash in the
next month or two.
SUPER=330-Partly Cloudy/Evening Storms/66-70/Hazy/Scattered Storms/84-88;
SUPER=331-Partly Cloudy/Evening Storms/68-72/Hazy/Scattered Storms/86-90;
SUPER=332-Storms/Possible/62-65/Partly Sunny/Scattered Storms/82-86;
SUPER=333-Partly/Cloudy/62-66/Partly Sunny/Showers & Storms/82-86;
SUPER=334-Mostly Cloudy/Showers & Storms/62-65/Showers &/Storms Likely/80-84;
I think it's safe to say we would all like to find a bit of extra money.
But the question is where?
In this week's edition of Common Sense Len Besthoff continues our "summer
reading" list for consumers.
IN Q=NAT SOT
Nat Sot Summer reading gfx/music
You may never find buried treasure in your lifetime.
But finding lost or unclaimed money owed to you is a possibility.
The author of a book called Assets Unknown estimates that there's as much as
30- billion- dollars worth of unclaimed property out there, and one in 10
Americans is entitled to at least a piece of that.
The book explains in a clear concise manner how to recover funds in things
like unclaimed utility deposits, abandoned checking accounts, and unredeemed
The author says there's even more money sitting in dormant retirement
accounts, and group life insurance policies.
This book costs about 25- dollars.
If you can't find it in stores, call 800-286-5669.
I'm Len Besthoff with this week's edition of Common Sense, lets send it back
to the newsdesk.))
TAPE#net (edit of R-37)
Dale Jarrett takes the win in the Pennsylvania 500 at Pocono.
SUPER=03-Pocono, PA/WTBS; :
Bobby Labonte taps his brother Terry in the rear causing a crash that also
involved Dale Earnhardt, Joe Nemechek and a couple other cars on lap 128.
South Boston's Jeff Burton made a run late.
But Jarrett's ford was just too strong and he held off Jeff Gordon and
Burton to win the Pennsylvania 500.
IN Q="I was...
((DALE JARRETT/PENNSYLVANIA 500 WINNER:))
SUPER=01-Dale Jarrett/Pennsylvania 500 Winner; :
OUT Q=everything was okay.
Gordon was second, Burton third followed by Tedd Musgrave and Mark Martin.
TAPE#net (edit of S7-8)
American Justin Leonard came from behind to win the British Open.
SUPER=03-Troon, Scotland/ABC Sports;
Sweden's Jesper Parnevik shot a one over par 72 to finish tied for second
with Darren Clarke at 9 under par.
Leonard birdied the 16-th hole to move into a tie for the lead. He
finished at 12 under par for a three shot win.
TAPE#net (edit of CL-97)
The Salem Avalanche held off a late rally by Prince William last night to
beat the Cannons 5 to 4.
SUPER=03-Salem/Avalanche vs Cannons; :
In the bottom of the third, Salem's Elvis Pena hits a ground ball to second
base. Dean Marnell scores from third.
Salem got on the board again in the bottom of the fourth. Ben Petrick hits
this solo homer high over the left field wall and the Avalanche was up 4 to 1.
Still in the bottom of the fourth SUPER=37-Salem/5/Prince William/4/;Dean
Marnell hits a grounder to right field Chad Gambill
slides home for the score and the Avalanche beats the Cannons 5 to 4.
TAPE#net (edit of s7-14)
It's been 20 years since former William Byrd track star Brenda Orange-Hill
placed second in the state. Yesterday she took the gold in the discus throw
at the Commonwealth Games.
At 37- years- old Brenda won her division by throwing 93-feet-6-inches.
Brenda says she can definitely see how time has changed her.
((BRENDA ORANGE-HILL/GOLD IN DISCUS: IT'S A LITTLE BIT HARDER TO GET IN SHAPE
AND STAY IN SHAPE AND HAVE THOSE LITTLE ACHES AND PAINS MORE THAN I DID 20
YEARS A GO WHEN I THROUGH IN HIGH SCHOOL.))
SUPER=01-Brenda Orange-Hill/Gold In Discus;
OUT Q= IN HIGH SCHOOL
Brenda says the training and the track meet rejuvenated her competitive
She plans to make the yearly trip to the Commonwealth Games.
It was Halloween in July for a group of bassett hounds in an Oregon town.
Humans dressed their canine companions in a various array of costumes for a
charity event...from clowns, to sad eyed pumpkins and even a bumblebee.
And in Indiana an ugly dog contest brought out a number of pooches..
To add insult to injury the contestants had to compete with a duck who
thinks she's a dog.
It's a proud day for the Navy and the nation.
America's oldest commissioned warship, the U-S-S Constitution, is setting
sail under its own power for the first time in 116 years.
Beginning in 19-92, Old Ironsides underwent a three-and-a-half year
restoration effort that included the weaving of six new sails and replacement
of copper plating.
It cost 12 million dollars to restore the 200 year old vessel.
Some of the money was raised by schoolchildren who collected pennies.