ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Friday, February 2, 1996 TAG: 9602020066
SECTION: BUSINESS PAGE: B-5 EDITION: METRO
Discovery Zone looks at Chapter 11
Fort Lauderdale, Fla.-based Discovery Zone Inc., which operates a children's indoor entertainment center in Roanoke, said Thursday it may file for Chapter 11 reorganization.
The company, which posted poor January operating results, said its uncertain financial situation may affect its ability to renegotiate its credit with lenders. Reorganization, one of a number of alternatives Discovery Zone is considering, would allow the company to restructure its debt and likely would require closing a number of unprofitable locations. Discovery Zone operates 330 facilities in 34 states.
- Staff report
No U.S. Volvo plant anytime soon
STOCKHOLM, Sweden - Swedish automaker AB Volvo confirmed Thursday that it has talked with Japan's Mitsubishi Corp. about building cars together in the United States but emphasized nothing will happen soon.
Volvo wants to keep ``updated on the market and production in the U.S., but production in the U.S. is not currently on the management's agenda,'' Volvo spokesman Ingmar Hesslefors said.
Volvo officials last year said the company was looking at the possibility of building vehicles, perhaps a new line of cars or trucks, in the United States.
But the company spokesman reiterated that the prospect ``is no hot issue.'' Volvo has refused to disclose which sites it had been examining.
Volvo and Mitsubishi recently teamed up in a joint venture in the Netherlands to build compact cars.
- Associated Press
First Union plans Internet banking
First Union Corp. plans to offer on-line banking through the Internet, Microsoft's Money and Intuit's Quicken.
The bank said customers will be able to open checking and savings accounts, check balances and review statements over the Internet by summer. By year-end, the Internet service will be expanded to cover fund transfers and bill payments.
During the third quarter, customers using Money or Quicken software will be able to review account statements, transfer funds and pay bills.
First Union also said it has won a major contract with the U.S. Treasury Department to transform the Treasury's paper-based collections for such payments as student loans and mortgages into an electronic system.
- Staff report
Parcel Plus center opening in Vinton
A new Parcel Plus shipping and business support center will open Feb. 12 at Lake Drive Shopping Center in Vinton.
The store, owned by Mike and Sylvia Mitzlaff, will offer packaging services and shipping through UPS, Federal Express, the U.S. Postal Service and other carriers. It also will provide shipping materials, private mailbox rentals, copying, business cards, desktop publishing and computer and Internet services.
Parcel Plus is a national company based in Annapolis, Md. Most stores are in Maryland, Virginia and Washington, D.C.
- Staff report
LENGTH: Medium: 65 linesby CNB