Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, April 1, 1995 TAG: 9504030059
SECTION: BUSINESS PAGE: A6 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WASHINGTON - USAir has reached agreement in principle with its pilots' union on wages and other concessions, the airline said Friday. But the company said it was uncertain whether a similar agreement could be reached with its other unions, which would be necessary for a final conclusion of the pact.
The tentative agreement with the Air Line Pilots Association calls for a 20 percent pay cut and 300 layoffs to save the financially troubled airline. In return, the pilots would receive stock in the company, a share of the annual profits and a voting seat on the USAir Group's board of directors. The airline has 5,100 pilots.
The Arlington, Va.-based airline has been seeking concessions totaling $2.5 billion over five years from its unions to stem heavy losses.
-Associated Press
VIP Planners buys in Old Southwest
VIP Planners, an estate-planning and asset-management firm at 4504 Starkey Road in Roanoke County, said Friday it has bought an old home in Roanoke's Old Southwest area for its offices.
Terry L. VandeLinde, a partner in VIP with Truman Combiths, said they paid $76,000 for property at 1502 Franklin Road, at Woods Avenue. They plan to invest another $150,000 to renovate the building and hope to occupy it by August.
The sellers were Andrew W. Hull and Dr. Duvahl Ridgway Hull of Roanoke.The building contains 3,500 square feet on two floors, an attic and basement, with an attached garage. VandeLinde said it had been used as a doctor's office and, before that, a boarding house.
VIP Planners has applied for historic tax credits and a city tax freeze to help with the remodeling, which is in progress. The house was built in the 1920s, VandeLinde said.
-Staff report
Salem to help push new industrial park
A 40-acre industrial park in the final stages of development in Salem is being marketed for up to 14 new operations. Developer Benton C. Hopper said Friday that work should be completed in about 15 days on the tract on Virginia 419 between Sheraton Drive and Locke Street.
Hopper said he has several prospects interested in the park, which should be ready in late spring.
He said he plans to subdivide and sell parcels, although he would consider leasing as well.
Hopper described the tract as one of the largest and most up-to-date in Salem. Joe Yeatts of the Salem department of planning and development said the property is zoned for business and commerce.
Yeatts said Salem will help market the property, which also will be listed with the Roanoke Valley Economic Development Partnership and Virginia economic development agencies.
-Staff report
Bankruptcies
Two bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke.
C&M Mid-Atlantic Technologies, a Salem partnership in general commercial construction, filed for reorganization and protection from creditors. The company, of which Tony Mays and John Callahan of Roanoke are partners, listed assets of $89,352 and liabilities of $271,423.
Byron R. Brooks, who operates a tobacco farm at Glade Hill, filed for reorganization, estimating both assets and liabilities at more than $100,000.
-Staff report
by CNB