Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, July 6, 1995 TAG: 9507060071
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
The Hotel Roanoke Conference Center Commission has postponed its meeting, scheduled for Friday, until Aug. 17, at which time it will consider long-term plans for providing the commission with an executive director.
The commission must decide whether to keep or replace Brian Wishneff, its acting director, and whether the director will be an employee of the commission or city or an independent contractor. Wishneff is a Roanoke city employee.
The director handles budgets, contracts, policy recommendations and other business for the commission.
- Staff report
Rowe subsidiary buys 3 buildings
Rowe Furniture Corp., an Arlington-based manufacturer with operations in Salem, said Wednesday its Rowe Properties Inc. subsidiary has acquired three buildings totaling 180,000 square feet on 12 acres in the Baltimore/Washington Industrial Park at Jessup, Md. The $6.7 million purchase was part of a tax-deferred exchange in which Rowe in February sold investment property in Sylmar, Calif.
- Staff report
IBM completes Lotus acquisition
NEW YORK - IBM formally completed its $3.5 billion acquisition of Lotus Development Corp. on Wednesday, finishing the largest software industry takeover just a month after it began.
Shares in Lotus traded for the last time on the Nasdaq Stock Market, finishing unchanged at $63.87 1/2.
IBM on June 5 offered $60 per share in a hostile takeover bid for Lotus, a leading creator of software for personal computers. Seven days later, Lotus agreed to a $64 per share offer and the buyout turned friendly.
The deal received clearance from antitrust regulators on June 21, which allowed IBM to contact Lotus shareholders.
IBM will take an unspecified charge against its third-quarter results for the acquisition. Its stock closed down 87 1/2 cents to $96.75 on the New York Stock Exchange.
- Associated Press
Briefly ...
The Alpha Wolf Group, a marketing services and communications division of Sipos Marketing Services Inc. of Salem, has received an award from the Virginia Division of the American Cancer Society. The award was for production of a video about the society's new national volunteer organization.
Sir Speedy Roanoke, a franchised unit of printing, copying and digital network centers, has opened in the First Federal Building, 30 W. Church Ave. in downtown Roanoke. The local business is owned by Anna Karbassiyoon. Tom Turner of Hall Associates Inc. was the leasing agent.
by CNB