Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, January 22, 1993 TAG: 9301220408
SECTION: BUSINESS PAGE: A-5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Ingersoll Rand idles 9 in Roanoke areaThe Ingersoll-Rand Rock Drill Division in Roanoke County has laid off nine employees in a restructuring move blamed on sales problems. The former workers held a variety of non-factory jobs, said Ernest Hinck, vice president. After their departure, the plant's work force is 525 people, he said.
Hinck predicted the division's U.S. market for mining and drilling equipment will pick up this year, depending on the direction of the new administration in Washington. But he said he's concerned that the Japanese and German economies are drifting downward, causing a decline in sales.
- Staff report
Signet Mortgage moves to 419 office
Signet Mortgage Corp. has moved into the former Trustbank office on Virginia 419 across from Tanglewood Mall.
Frank Chrzanowski, who heads the Signet Mortgage Corp., said it occupies all of the second floor and half of the first floor.
He said Signet Mortgage has tripled its volume of first mortgages in the Roanoke Valley in the past two years. It employs 13 people, he said, and plans to hire more.
Dennis Traubert, regional executive officer for Signet Bank in Roanoke, said the move consolidates operations that had become scattered as business grew.
The building was purchased last year by Elbert Waldron of Roanoke after Trustbank Federal Savings Bank was closed by Resolution Trust Corp.
- Staff report
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
930122 BIZ STORY #14913 TOPIC BRIEFS COL KEYWORDBRIEFS DESK AUTHOR:APE972001/22/93 for FRIDAY business page A5 biz briefs IN BUSINESS Optimistic traders aid market advance
NEW YORK _ Hopes for
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