Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, February 24, 1994 TAG: 9402240151
SECTION: BUSINESS PAGE: C-10 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Club Resorts Inc., Dallas-based operator and minority owner of The Homestead, said Wednesday it has begun the first phase of $6.5 million worth of renovations planned during 1994 at the Bath County resort.
Scheduled for completion in April are renovations to the golf courses and pro shops; refurnishing and plumbing in 86 guest rooms; refurnishing hallways of the East Wing; and redecoration of the dining room, Great Hall and other public areas.
Club Resorts has said it expects to invest $12.5 million on improvements at The Homestead.
- Staff report
Va. Power seeks bar to partnership
Virginia Power on Wednesday asked the State Corporation Commission to block a proposal by a partnership of a unit of Louisville Gas & Electric Energy Corp. and DuPont Co. to supply energy to DuPont plants in Virginia Power's service territory.
Appalachian Power Co. of Roanoke also has voiced concern about the proposal. Among the DuPont plants that would be switched is one in Martinsville served by Apco.
In a petition filed with the SCC, Richmond-based Virginia Power argued that the proposed LG&E Power Inc.-DuPont arrangement would violate state law by creating a new public utility for the retail sale of electricity, while state law and commission orders give it the exclusive right to furnish electricity at the retail level in its service area.
- Staff report>
Hanson plans stock offering
Hanson Industries, the U.S. arm of Hanson PLC, the British owner of MW Manufacturing Inc. of Rocky Mount, on Wednesday announced two transactions - the offering of Beazer Homes USA stock and the sale of Hawaiian property - with total proceeds to Hanson of $232 million.
Beazer Homes USA, Inc. has agreed to sell 6 million shares of stock at $17.50 per share in an initial public offering and to place $115 million of its 9 percent senior notes due in 2004.
Hanson also said its affiliate, PH Property Development Company, has sold Hawaiian property worth about $201 million to Schuler Homes Inc.
- Staff report
Briefly . . .
Home Shopping Network Inc., St. Petersburg, Fla.-based television retailer with an order-filing warehouse in Salem; Tele-Communications Inc.; and Sumitomo Corp. of Japan said they have signed a letter of intent to establish a television shopping business in Japan. The group will conduct a feasibility study to lead to early testing of the service. Programming is expected within a year.
Howard Feiertag, instructor in the department of hospitality and tourism management at Virginia Tech, will be a featured speaker at the 1994 International Convention of Super 8 Motels Inc. March 9-12 in San Francisco. He will discuss issues concerned with developing sales at limited service properties.
Owens & Minor Inc., a Richmond-based wholesale distributor of medical/surgical supplies and other related products to hospitals, said Wednesday it has been selected by Columbia/HCA Healthcare Corp. as its prime distributor for medical/surgical products. Columbia/HCA is parent of Lewis-Gale Hospital in Salem.
by CNB