Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, May 28, 1994 TAG: 9405310172
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Southwest Development Financing Inc., a not-for-profit corporation formed late last year to make low-interest loans for tourism development in the 9th Congressional District, is ready for business.
The organization has $1 million in a revolving loan fund and is inviting applications from the area composed of 23 counties and cities. Rep. Rick Boucher, D-Abingdon, said Friday that the program stems from legislation he submitted last year that resulted in the $1 million appropriation from Congress. It will be housed temporarily in the Peaks of Virginia office in Marion. Jerry Brown, director of Peaks, will be the interim director for Southwest.
Boucher said the kinds of projects that are eligible are those that will create jobs and which can potentially attract additional funding from banks, private contributors or government sources.
- Associated Press
Teamsters may drop conferences
WASHINGTON - Teamsters board members are considering a request from their president to disband the embattled union's four regional U.S. conferences.
Ron Carey, president of the International Brotherhood of Teamsters, proposed in March to abolish the conferences, whose leaders have been a persistent source of opposition to his reorganization efforts.
Conference officials were arguing Thursday against Carey's proposal during a closed-door hearing, a day after Carey outlined his reasons for wanting to dismantle the conferences.
Carey said the conferences were ``not a logical structure to serve our members and support our local unions,'' and that they were neither democratic nor accountable to the union's rank-and-file.
The board is expected to approve Carey's request because most board members won their seats on his slate in 1991. Both sides expect the matter to end up in court.
- Associated Press
Car dealer plans to buy business
Andrew Kaplan, owner of Dominion Dodge in Salem, has signed a letter of intent to purchase Peaks Motors in Bedford. Kaplan said the sale is contingent on approval by Chrysler Corp.
Smyth Meador of Salem, owner of Peaks, said Friday that after 45 years in the car business "it's time to slow up a bit." Meador said he will continue operating Patrick Henry Motors in Martinsville.
Peaks Motors dates to the early 1970s. Meador bought it in 1980.
Kaplan said Peaks' 16 employees and the 36 workers at Dominion Dodge have been told of the pending purchase.
Kaplan, who has been in the car business almost 18 years, said the corporation formed to buy the Bedford dealership is Dominion of Bedford Inc., but he hasn't decided what name the business will operate under.
- Staff report
Dividends
Lowe's Cos. Inc., North Wilkesboro, N.C., building supplies retailer with stores in Western Virginia, on Friday increased its quarterly common stock dividend from 4 to 4.5 cents per share, payable July 31 to shareholders of July 16.
Dibrell Brothers Inc., a Danville processor and exporter of leaf tobacco and fresh flowers, on Friday increased its quarterly common stock dividend from 18 cents to 20 cents per share, payable June 15 to shareholders of July 3.
Bankruptcy
One petition with a business connection was filed this week in the U.S. Bankruptcy Court for the Western District of Virginia in Roanoke:
David Everett Coles and Yvonne Porter Coles, doing business as Coles Crown & Bridge Dental Laboratory at 1537 Guildhall Ave., Roanoke, have sought protection from creditors during liquidation. They reported assets of $76,363 and liabilities of $98,339.
by CNB