Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, January 22, 1993 TAG: 9301220406
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE: Associated Press
DATELINE: LENGTH: Medium
BENTSEN ANNOUNCES 3 NOMINATIONS
Treasury Secretary Lloyd Bentsen said Thursday that President Clinton will nominate Lawrence Summers undersecretary of the treasury for international affairs, Frank N. Newman undersecretary for domestic finance and Eugene A. Ludwig comptroller of the currency.Summers, 38, is the chief economist of the World Bank and well-known Harvard University professor. In 1988 he was the principal economic adviser to presidential candidate Michael Dukakis, and he advised Clinton during the transition.
Newman, 50, is vice chairman and chief financial officer of BankAmerica Corp., the nation's second-largest bank. He'll oversee the Treasury's massive auctions of government securities and is expected to play a key role in shaping banking policy.
Ludwig, 45, has been a partner since 1981 in the Washington office of the Covington & Burling law firm, which represents NationsBank, America's fourth-largest banking company. He will be the chief regulator of banks with federal charters, which includes virtually all of the country's largest banks.
Food prices down in Roanoke Valley
Food costs fell 1 percent this month in Roanoke-area supermarkets, according to a survey by the Virginia Department of Agriculture and Consumer Services. The agency, which monitors monthly the cost of 40 commonly purchased items, said they cost $71.82 in Roanoke Valley stores, down from December and 1.5 percent below $72.23 in January 1992.
In Northern Virginia stores, the same basket of goods cost $82.69 this month, down 1.3 percent from December but up 1.4 percent from January 1992. In Tidewater, the total was $75.64, up 2.6 percent in the month but down 2 percent from a year ago. Richmond prices totaled $75.08 this month, up 1.6 percent from December but down 3.8 percent from a year ago.
- Staff report
May to consolidate offices in St. Louis
The May Department Stores Co., St. Louis parent of Hecht's department stores and Payless ShoeSource stores, said Thursday it will move its New York merchandising offices, May Merchandising Co., to St. Louis in June. The streamlining will result in a single corporate office for the company.
May Merchandising and its subsidiary, May Department Stores International, employ 430 people in New York. Everyone, both executive and hourly, will be offered a job in St. Louis. May Department Stores International will continue to operate a network of 12 offices in the Far East and Europe, and its employees overseas will not be affected.
- Staff report
Briefly . . .
Cellular One, a cellular telephone retailer, has opened an office at 9 W. Kirk Ave. in downtown Roanoke.
Frederick G. Griffin, a Lynchburg communications consultant, has been awarded a contract for one of the nation's first multiuser radio communications systems. The system will be centered at the Raleigh-Durham, N.C., airport and connect to communications for American Airlines, the city of Raleigh, town of Cary, Wake County and North Carolina state agencies.