ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, April 27, 1996 TAG: 9604290020
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
Bell Atlantic plans on revenue growth
WILMINGTON, Del. - The new Bell Atlantic expects long-term revenue growth of at least 10 percent over the next five years, Chairman Raymond W. Smith said Friday.
``We are not just sustaining our record growth. We are accelerating it,'' he said during the Baby Bell's annual shareholders' meeting.
The meeting followed Monday's announcement that Bell Atlantic and Nynex have agreed to a $23 billion merger, linking a network connecting 37 million phone lines from Maine to Virginia and creating the nation's second-largest phone company behind AT&T Corp.
In terms of wireless communications or the use of cellular phones, the new company has a potential to reach 54 million customers, including the Carolinas. He said growth will come from selling packages of services under the brand name Bell Atlantic.
- Associated Press
Briefly ...
Bedford Bancshares Inc., parent of Bedford Federal Savings Bank, reported Friday that it has completed repurchase of 5 percent of the corporation's stock. It purchased 61,893 shares for a total price of $1.1 million.
Bankruptcies
Four bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke.
* David Cooper Construction Inc., also known as Cooper Construction, of Mavisdale in Buchanan County filed for liquidation with assets of $176,371 and liabilities of $501,912. The company said it specializes in road construction and reclamation of mined land.
* John Pearce Marfink and Susan Louise Marfink of Pulaski filed for a wage-earner plan for repayment of debts. They had assets of $209,630 and liabilities of $229,884. They said their business is computer consulting and software development.
* Charles Robert Fogleman and Sandra J. Fogleman of Lebanon, trading as Norfield-Fogleman Cabinets, filed for liquidation with assets of $94,222 and liabilities of $77,797.
* Lewis Edward Pitts, a painting contractor in Roanoke, filed for liquidation. He estimated assets at less than $50,000 and liabilities at less than $99,000.
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