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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, January 16, 1993                   TAG: 9301180256
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO  
SOURCE: Associated Press
DATELINE:                                 LENGTH: Short

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IN BUSINESS

WASHINGTON BLUES DISCLOSE BIG LOSSES

WASHINGTON - Losses at the Blue Cross-Blue Shield plan serving the Washington area could reach nearly $39 million, officials said.

The company disclosed its worst-case estimate at a meeting with insurance regulators from the District of Columbia, Virginia and Maryland last week, The Washington Post reported. The Washington-area plan, which has proposed merger with Blue Cross and Blue Shield of Virginia, had expected a $2.4 million profit.

Company officials presented the worst-case scenario because "we didn't want to low-ball our numbers or sugar-coat them," said Ray Freson, a spokesman for Blue Cross-Blue Shield of the National Capital Area. He declined to confirm projected losses.

Layoffs delayed at Norfolk shipyard

PORTSMOUTH - Planned layoffs at the Norfolk Naval Shipyard have been delayed for now, union officials say. But a Navy spokesman in Washington said this week that no decision on the reductions have been made.

Jim Sommerhauser of the International Federation of Professional and Technical Engineers said he thinks the Bush administration decided to postpone layoffs to let the Clinton administration "get stuck with putting out the bad news."

Union officials said the delay could give shipyard managers more time to find other ways to trim expenses and come up with new work.

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