Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SATURDAY, October 28, 1995 TAG: 9510300024
SECTION: BUSINESS PAGE: A-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
A Pennsylvania developer said Friday it has begun construction of a $2 million building at Valleypointe office park in Roanoke.
Liberty Property Trust of Malvern, Pa., already owns four buildings, which it said are 97 percent leased, in the office park. The company has a regional office in Richmond.
The 19,600-square-foot, one-story building will be known as 5000 Concourse Drive. Construction was started without any space leased in advance. Jeanne A. Leonard, spokeswoman for the company, said it plans to handle its own marketing for the property.
Liberty Property Trust is a real estate investment trust which owns and manages one of the largest portfolios of suburban industrial and office properties in the United States. It concentrates on the Southeastern and Mid-Atlantic states. Its Lingerfelt division owns and manages more than 3 million square feet of space in Virginia.
- Staff report
AlliedSignal to cut thousands of jobs
MORRIS TOWNSHIP, N.J. - AlliedSignal Inc. announced Friday it will eliminate more than 3,000 jobs in its automotive division and will begin withdrawing from the anti-lock braking systems market.
The restructuring, which will slash more than 8 percent of the work force at the automotive division, is intended to improve the company's profitability in the coming years.
AlliedSignal in 1990 proposed building an auto disc brake factory in Roanoke County. In 1991, the company dropped the plan, returning to the county the 160-acre site, which has since become ValleyTech Industrial Park.
The 3,100 jobs will be eliminated at about 40 AlliedSignal automotive plants throughout the world, said Mark Greenberg, vice president for external affairs. Many of those layoffs will come at plants in the United States.
- Associated Press
CFW buys part of health systems firm
CFW Communications Co. of Waynesboro, which provides telephone and other telecommunications services in Alleghany County, said it has bought a 3 percent stake in Multimedia Medical Systems Inc. of Charlottesville.
MMS is a health care information-technology firm that specializes in computer applications, such as remote diagnoses and treatment and services that permit medical expertise and resources to be shared between medical centers.
CFW paid an unspecified amount in cash and "in-kind" services for its stake in MMS and will provide a communications network to the company as it develops a Central Virginia "test bed" for its services.
- Associated Press
Bankruptcies
Nine bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. Four 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.
William W. Adams of Duffield, trading as Adams-Baker Pharmacy Inc., filed for liquidation with assets of $150,050 and liabilities of $181,810.
Kenneth Max Hash and Vickie Watson Hash of Elk Creek, operators of a Christmas tree farm, filed under a special section for reorganization of family farms. They had assets of $152,500 and liabilities of $183,244.
J.R.&R. Coal Co. Inc. of Bluefield filed for liquidation, estimating both assets and liabilities at less than $50,000.
Stonehenge North Inc., a Roanoke contractor, filed for reorganization and protection from creditors. It estimated assets and liabilities at $250,000 each.
Petroleum Systems of Southwest Virginia Inc. of Wytheville, a construction business, filed for liquidation but delayed estimating assets and liabilities.
Timothy Wilson Shepherd and Faye Elizabeth Reynolds Shepherd of Roanoke filed for liquidation with assets of $9,073 and liabilities of $27,448. Timothy Shepherd does business as Sew and Saw Crafts.
Thomas Ray Graves of Elliston, a self-employed painter, filed for liquidation with assets of $13,872 and liabilities of $22,529.
Lisa Ann Walters of Wytheville, a partner in a catering business, filed for liquidation with assets of $12,041 and liabilities of $28,958.
Darrell Stewart English and Kathryn W. English of Elliston filed for a wage-earner plan for repayment of creditors, listing assets of $50,901 and liabilities of $67,719. Kathryn English has an office cleaning service.
by CNB