Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, February 25, 1992 TAG: 9202250284
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Virginia could host technology world fairVirginia is quietly contemplating the possibility of holding a World Fair of Technology, an exposition where companies from around the world could showcase their technologies.
The idea has been embraced by Lt. Gov. Donald S. Beyer Jr. and the General Assembly recently passed a bill to establish a commission to study it.
David Lucien, a management consultant and vice chairman of the Northern Virginia Technology Council, said the idea evolved while he was traveling the state talking to executives about how to help technology companies in Virginia gain an advantage over their competitors.
Lucien envisions the construction of such things as a futuristic hospital and an advanced manufacturing center, all paid for by businesses.
- Associated Press
Watson's chain files for credit protection
KNOXVILLE, Tenn. - Ira A. Watson Co., a discount department store chain with 30 stores in nine states, including one in Chandler's Mountain Station shopping center in Lynchburg, said Monday it has filed for Chapter 11 bankruptcy protection.
The filing a week ago cited the company's inability to secure credit lines.
Executive Vice President Terrell Ayers said the credit-line problem and bankruptcy filing came as "a shock," considering Watson's experienced a stronger 1991 than 1990.
"Obviously our company is not insolvent. We have more assets than liabilities, and we certainly see our business . . . going forward," he said.
Watson's, a privately held company founded in 1907, listed $28.8 million in assets and $20.6 million in liabilities. It has 1,400 employees.
- Associated Press