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

DATE: FRIDAY, February 4, 1994                   TAG: 9402040114
SECTION: BUSINESS                    PAGE: A-3   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

IN BUSINESS

Lowe's Companies Inc. said Thursday it has created a subsidiary, The Contractor Yard Inc., to operate its 18 stores aimed at the building trades, including one on Orange Avenue in Roanoke.

A spokesman said the name change is intended to avoid customer confusion in markets where there are both regular Lowe's home-improvement stores and Lowe's contractor yards.

Also, Lowe's said, Carol Farmer, a Florida resident and Lowe's consultant, has been nominated to the building supply firm's board of directors. She is president of Carol Farmer Associates of Boca Raton, Fla., which produces a video newsletter analyzing consumer trends.

Farmer is a longtime consultant to the North Wilkesboro, N.C., company and was instrumental in the design of its new superstores, such as the one that opened recently near Roanoke Regional Airport. Her nomination is subject to shareholder approval at the company's annual meeting May 27. - Staff report

Virginia Power's rate request cut

Virginia's State Corporation Commission said Thursday it is eliminating $72.7 million from Virginia Power's $314.6 million rate increase request. Rather, the SCC said an increase of $241.9 million is appropriate.

Virginia Power's rate request was implemented on an interim basis, subject to refund, on Oct. 26, 1992. The company's proposal would have increased annual operating revenue by 10.4 percent. The SCC decision represents an increase of 8 percent. - Staff report