Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, June 7, 1994 TAG: 9406080020
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Conrail and Norfolk Southern Corp. said Monday they have completed the first in a series of transactions to increase capacity on Norfolk Southern's heavily traveled corridor between Chicago and Fort Wayne, Ind.
On June 2 NS bought from Conrail a 17.8-mile segment of track between Gary and Valparaiso, Ind., for $1.4 million. The segment has no active freight customers and has been out of service for several years.
In addition, Norfolk Southern has made an offer for another 61-mile segment between Valparaiso and Warsaw, Ind.
- Staff report
Hall to manage several sites
Hall Associates Inc. of Roanoke has won a contract to manage and lease the 151,000-square-foot Lake Drive Plaza Shopping Center. Hall also will manage the headquarters branch of First Union National Bank of Virginia and the Revco store in downtown Roanoke.
In many cases, said Edwin C. Hall, president of the firm, owners have found it is cheaper to contract with outside management rather than have on-site personnel. One savings, Hall noted, comes through the buying power of a large company when it comes to janitorial, security and other types of services.
- Staff report
Signet offers better rate-protection plan
Signet Mortgage Corp. is offering prospective borrowers a new program carrying longer protection against potential rate increases.
Through Signet's new "Approved HomeBuyer" program, home shoppers can get an approved mortgage with a guaranteed rate cap for up to nine months from the day they apply. Signet said that's more than four times longer than the industry average.
Signet said the program allows consumers to take advantage of the lowest rates available because they get the cap without locking in the rate on application. Pre-approval means buyers have a firm mortgage commitment before shopping for a home.
- Staff report
by CNB