by Archana Subramaniam by CNB
Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: THURSDAY, January 16, 1992 TAG: 9201160077 SECTION: BUSINESS PAGE: C5 EDITION: METRO SOURCE: DATELINE: LENGTH: Medium
IN BUSINESS
Hecht's drops plans to build mall storeFREDERICKSBURG - Hecht's, the Arlington-based department store chain scheduled to take over Thalhimers outlets next month, has shelved plans to build a 140,000-square-foot store at Spotsylvania Mall.
Although the mall owners insisted this week that the project was not dead, a spokesman for the chain said Hecht's may never build the store. As recently as Monday, Hecht's and the mall said plans had been delayed, but they hoped to sign a construction contract soon.
Plans were derailed because another mall department store, Leggett, invoked a clause in its lease and canceled plans for the competing store.
Robert Leggett, manager of store development for Leggett, said his company does not categorically oppose Hecht's entrance into the mall but objected to the proposed store's size. The Leggett store is about 90,000 square feet. - Associated Press
\ Safe dolphins likely to raise tuna price
SAN FRANCISCO - A dolphin-protection ruling broadening a ban on yellowfin tuna imports may mean higher prices at the grocery store, industry officials said Wednesday.
Price increases of a nickel or a dime a can are possible, but it could take 60 days to determine the full impact of the ruling, said David Burney, executive director of the U.S. Tuna Foundation in San Diego. The National Marine Fisheries Services estimates U.S. imports could drop by 50 percent.
In August 1990, an embargo banned the purchase of tuna from countries that exceed U.S. limits on dolphins killed while fishing for tuna. - Associated Press
\ Earnings . . .
First Virginia Banks Inc., Falls Church-based parent of First Virginia Bank-Southeast, on Wednesday reported record earnings for 1991, saying net income was $69.6 million or 7 percent above the $65.1 million earned in 1990. Net income per common share was $3.25, up from $3.05. Fourth-quarter income was $18.6 million or 87 cents per share, up 17 percent from $15.9 million or 75 cents per share a year earlier.
At the end of 1991, non-performing assets totaled $34.9 million, 0.99 percent of total loans and foreclosed real estate, down from $36.8 million at the end of 1990.