Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, November 11, 1994 TAG: 9411110048
SECTION: BUSINESS PAGE: A-11 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Six bankruptcies with business affiliations were filed this week in U.S. Bankruptcy Court for Western Virginia at Roanoke. Three of them are personal bankruptcies that the court listed as businesses because they have commercial connections and could be of interest to business creditors and customers.
Virginia Manufacturing Inc. of Pennington Gap was served with a petition for involuntary liquidation filed by Westinghouse Electric Corp. and two other creditors. No estimates of assets and liabilities were presented to the court.
Dennis A. Barnette, trading as Kodiak Mining Co. of Wise, filed for reorganization and protection from creditors, estimating both assets and liabilities at more than $1 million.
Bobby S. Hepinstall and Tammy Hepinstall of Vinton filed for liquidation, estimating both assets and liabilities at less than $50,000. Bobby Hepinstall listed himself as a general maintenance contractor.
Charles Henry Brown of Roanoke filed for liquidation, with assets of $55,250 and liabilities of $134,009. He formerly operated Brown's Construction Co.
V. Ray Spangler and Janette Spangler of Floyd filed under a special section of the bankruptcy law that deals with reorganization for family-owned farms. They estimated their assets and liabilities at less than $50,000.
Henry Rush Spriggs and Betty Joann Spriggs of Marion filed for liquidation, with assets of $2,510 and liabilities of $19,594. Betty Spriggs operates Mountain Memories, a crafts shop.
- Staff report
Briefly ...
The Mountain State Organic Growers and Buyers Association will hold its annual fall workshops Saturday at Carnegie Hall in Lewisburg, W.Va. The workshops, designed to help vegetable, fruit, herb and livestock growers learn about organic methods and reduce chemical use, will start at 8:30 a.m. Cost is $10. To register or for more information, call (703) 897-5741.
Virginia coal production for the first 10 months of 1994 ran 3.2 percent ahead of the 1993 period, the U.S. Department of Energy reported Thursday. Virginia mines produced 34.08 million tons of coal from January through October, compared with 33.02 million tons last year. Total U.S. coal production for the first 10 months of this year was 854,364,000 tons, or 8.8 percent more than the 785,538,000 tons mined in the year-earlier period.
Cooper Industries Inc., Houston parent of the Crouse-Hinds electrical products plant in Roanoke, said Thursday it has acquired the assets of Zanxx Inc., an Avilla, Ind., manufacturer of lamp sockets, interior lighting assemblies, connectors and related components used primarily by the auto industry. Terms of the transaction were not disclosed.
Rowe Furniture Corp., Arlington-based manufacturer with operations in Salem, declared a 3-for-2 stock split Thursday, payable in the form of a 50 percent stock dividend Dec. 6 to shareholders on Nov. 21. The company also increased its quarterly dividend 20 percent on the post-split shares to 2 cents per share per quarter from 1.67 cents. The new rate will be effective for the dividend expected to be announced in December.
Buffets Inc., Eden Prairie, Minn., restaurant company operating Old Country Buffet in Roanoke County, said Thursday the company and certain directors and officers have been named defendants in a lawsuit filed in U.S. District Court in Minneapolis. The suit alleges the company misled investors with optimistic predictions of expansion and sales growth. Roe H. Hatlen, chairman and chief executive officer of Buffets, said he thinks the lawsuit is without merit.
InfiNet, a regional on-line computer service and regional access to Internet, said it has formed an alliance with Journal & Express Newspapers in the Washington metro area, The Washingtonian magazine and Capital Gazette Newspapers in Maryland to provide news and information in the region from Northern Virginia to Annapolis, Md. InfiNet, which also serves the Roanoke region, is a subsidiary of Landmark Communications Inc. of Norfolk, parent of the Roanoke Times & World-News.
VTLS Inc., a Blacksburg computer software company specializing in library automation, has a contract to automate libraries for Kuwait University and Kuwait's National Scientific and Technical Information Center.
by CNB