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

DATE: SATURDAY, August 21, 1993                   TAG: 9308230305
SECTION: BUSINESS                    PAGE: A-4   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

WASHINGTON - The acting chairman of the commission regulating the nation's futures markets resigned Friday, leaving the agency's five-member board with three vacancies.

William P. Albrecht, a Democrat who became acting chairman of the Commodity Futures Trading Commission in January, will be replaced by Sheila C. Bair, one of two remaining commissioners, both of whom are Republicans. - Associated Press

Funwear to feature cartoon figures, cars

Funwear Inc., a unit of Littlefield, Adams & Co. of Roanoke, said it has signed a licensing agreement with Warner Brothers Inc. for the "Looney Tunes/NASCAR" line of imprinted sportswear. Terms of the contract were not disclosed.

Littlefield, Adams said the license will incorporate Warners Brothers "Looney Tunes" characters along with NASCAR automobiles. - Staff report

Virginia Transformer workers reject union

Workers at Virginia Transformer Corp. in Roanoke on Friday rejected representation by the International Brotherhood of Electrical Workers.

In an election conducted by the National Labor Relations Board, 56 workers voted against the union, 39 voted in favor and seven who were eligible to vote were not present. - Staff report

Harris Teeter operator pays extra dividend

Ruddick Corp., Charlotte, N.C.-based operator of Harris Teeter supermarkets, declared an extra year-end dividend of 17 cents per common share in addition to the regular common quarterly dividend of 7 cents per share.

The company said the dividends were in recognition of anticipated income results for its fiscal year which ends Oct. 3. The dividends will be paid Oct. 1 to shareholders. - Associated Press

Teamsters president cleared of conflict

NEW YORK - The Teamsters union president, accused of not disclosing a potential conflict of interest in inheriting United Parcel Service stock, has been cleared in the matter, a spokesman said.

Matt Witt, of the International Brotherhood of Teamsters, said the Labor Department, in a letter dated Wednesday, found that Teamsters President Ron Carey has never owned UPS stock. - Associated Press

Ex-business operator files for bankruptcy

A Rocky Mount man who previously operated four businesses has filed for bankruptcy in the U.S. Bankruptcy Court for the Western District of Virginia in Roanoke.

Larry Neal Peak filed in the names of Plaza Family Sports Center, Plaza Lanes, Pizza Den and Country Corner restaurant. His petition seeks liquidation. Peak, now the manager of a fast-food franchise restaurant in Franklin County, reported assets of $4,343 and debts of $232,243.

Smith Mountain Water Co. of Wirtz filed for protection under bankruptcy law during financial reorganization. The company said it provides water to the Stripers Landing, Starwood, Lakemont, Overlook, Mallard Point and Walnut Run subdivisions in Franklin County.

Robert A. Winney, president, estimated assets at less than $50,000 and debts between $50,000 and $99,999.

Ronald Boyd Andrews and Vickie L. Perdue of Roanoke, doing business as TIR Co., filed for protection during reorganization. They listed assets of $40,295 and debts of $47,300. - Staff report

Coal negotiations to resume next week

CHARLESTON, W.Va. - Talks between the United Mine Workers and the Bituminous Coal Operators Union are to resume sometime next week, but neither side would speculate Friday on whether they expect to reach an agreement.

"I don't know if there's any reason to speculate on optimism or pessimism," said Tom Hoffman, spokesman for CONSOL Inc. and for the operators' negotiating committee. - Associated Press