Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, June 21, 1995                   TAG: 9506210108
SECTION: BUSINESS                    PAGE: B-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

WASHINGTON - Housing starts fell 1.3 percent in May, the fourth decline in five months, as concerns over the economy overrode falling mortgage rates. Single-family construction was the lowest in more than two years.

The Commerce Department said Tuesday that construction of new single-family homes and apartments totaled 1.24 million at a seasonally adjusted annual rate, down from 1.26 million in April. Increases in the Northeast and West failed to offset declines in the Midwest and South.

Applications for building permits - often a barometer of future activity - edged up 0.2 percent to a 1.25 million rate, from 1.24 million in April. It was the second straight advance.

- Associated Press

Hotel to consider paid director

The Hotel Roanoke Conference Center Commission at its July 7 meeting will consider its long-term need for a paid director, said Ray Smoot, vice president of finance at Virginia Tech and a commission member.

The commission must decide how much the job will pay and whether the director will be an employee of the commission or the city, or an independent contractor, Smoot said.

Brian Wishneff, Roanoke's economic development director, has held the job since the commission was set up in 1993 for the building of the conference center and remodeling of Hotel Roanoke.

Wishneff is interested in keeping the job, but the commission may consider other applicants identified during a recent search, Smoot said.

Wishneff said he oversaw construction of the conference center and purchasing of its equipment and furnishings. The director also administers agreements between the commission and the hotel, checks contracts with guests and suppliers, oversees the center's budget and advises the commission on policy questions.

- Staff report

Earnings

Heilig-Meyers Co., RIchmond-based home furnishings retailer, reported net earnings of $18.5 million, or 37 cents per share, on revenues of $318.9 million in its first quarter ended May 31, compared with year-earlier $18.3 million, or 37 cents per share, on revenues of $268.8 million.