Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, May 6, 1993 TAG: 9305060188
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
A "sick-out" by members of Local 1708, Amalgamated Clothing and Textile Workers Union is continuing this week at the Fieldcrest Cannon towel mill at Fieldale to support the union in contract talks, a union spokesman said.
Roy Wade, vice president of the local, said the ACTWU is fighting company proposals for subcontracting work, 12-hour work shifts and a no-strike clause. Many of the 960 hourly workers called in sick last week, the union said.
The union contract for about 4,500 Fieldcrest Cannon employees at Fieldale and three other Southern plants expired March 30, he said. Negotiations on wages are planned next week. - Staff report
Shareholder seeks probe of Food Lion
A Food Lion shareholder has asked the National Association of Securities Dealers Inc. to investigate the alleged failure of the company to comply with NASD rules requiring public companies to have at least two independent directors.
The Food and Allied Service Trades Department of the AFL-CIO made the request this week to the chairman of the NASD's board of governors. The letter said Food Lion apparently also is violating NASD's rule that independent directors constitute a majority of the audit committee of companies it lists for public trading. The audit committee oversees the independent accounting firm and reviews potential conflicts of interest.
Terms of the company's 10 directors expire at Food Lion's annual meeting today in Salisbury, N.C., where shareholders have been asked to elect as a director the first person not directly involved with Food Lion. The new director will replace chairman emeritus and co-founder Ralph Ketner, who resigned recently, citing disagreements with management decisions. - Staff report
Ad2 completes free campaign for TAP
Ad2 of the Roanoke Valley, an organization for young professionals in advertising and marketing, has completed a public service project for Total Action Against Poverty.
Each year Ad2's public service committee produces an advertising campaign for a nonprofit organization in the Roanoke area. The campaign is donated to the nonprofit group.
This year's public service committee, headed by Tony Pearman of The Maddox Agency, consisted of 25 representatives from the Roanoke area advertising and marketing industry.
TAP was chosen last fall from a field of applicants. The campaign, which consists of billboard, radio, print and television ads, has just gotten under way in the Roanoke Valley.
Ad2 of the Roanoke Valley is a local chapter of a national organization. The club recently won first place awards for membership publications and club achievement for the Third District region, which includes Virginia, North Carolina and South Carolina. - Staff report
Briefly . . .
\ Bassett Furniture Industries Inc. on Wednesday declared a five-for-four split of its common stock, to be distributed on May 26 to shareholders on May 17. Bassett also declared a quarterly dividend of 20 cents on the increased number of shares, to be paid June 1 to shareholders on May 17.
\ Two Roanoke real estate appraisers - David McCray and John Lipscomb - have bought the former Goodwill Industries building on Salem Turnpike for $135,000, according to Jim Woltz of Woltz Associates, an auction firm. The new owners plan to improve the property and offer it for lease, Woltz said. The building was constructed in the 1950s for Goodwill and was used until that organization merged with Tinker Mountain Industries several years ago.
\ Tultex Corp. of Martinsville has cited its Roanoke apparel plant for having the lowest percentage of recordable accidents in the company during 1992.
\ Goodwill Industries Tinker Mountain Inc. will open a thrift store Friday at 7210 Williamson Road, Roanoke. The store, in Market Square North Shopping Center, is the fifth retail outlet operated by the agency, which provides job training for people with disabilities. The Troutville-based agency also has developed a new program with the Virginia Department of Rehabilitative Services to provide access for adults with disabilities for jobs in computer-related careers.
Earnings . . .
\ Hardee's Food Systems Inc., Rocky Mount, N.C., operator and franchiser of fast-food restaurants, has reported first-quarter earnings of $1.3 million, compared to a loss of $10.5 million a year earlier.
Systemwide sales were $1.1 billion, up 7 percent from $1 billion in the 1992 quarter. Revenues were $450 million, up 5.6 percent from $426 million.
by CNB