ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, May 11, 1996 TAG: 9605130077
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
Pepsi offers beepers to teens
NEW YORK - PepsiCo is taking an expensive approach to keeping tabs on the teen market: It's offering 500,000 of them beepers.
The campaign to promote Mountain Dew soft drinks comes at a time when the use of beepers by children is a hot-button issue in school systems nationwide. Pepsi said it would cooperate with school officials if conflicts arise.
``The primary message that we're trying to push in this promotion is that beepers are cool but not in school,'' said PepsiCo spokesman Jon Harris.
PepsiCo company plans to link teens in a network, beeping teens weekly with discount offers and prize drawings.
Those who call back on a toll-free number will hear a recording from sports and entertainment celebrities. Prizes include personal snowboarding lessons, a trip to MTV's Beach House and recording sessions at Sony studios.
The offer will cost PepsiCo, Sony, Motorola, MobileComm, MTV and other partners between $40 million and $50 million, according to sources close to the company.
- Associated Press
Lloyd's makes new settlement offer
LONDON - Lloyd's of London boosted its settlement offer to investors by 11 percent, the British insurance institution's latest attempt to stanch a growing international dispute.
Lloyd's raised its proposed settlement to 3.1 billion pounds ($4.7 billion) from 2.8 billion pounds. Lloyd's also reduced the financial obligation of some investors to back Lloyd's liabilities from 1992 and earlier.
Lloyd's investors pledge their stakes to cover loss claims on Lloyd's policies in return for a share of profits. They have accused the syndicate of fraud and negligence in failing to disclose its full exposure to claims.
London-based Lloyd's lost more than $12 billion from 1987 to 1992 as a result of asbestos and pollution-related claims.
- Bloomberg Business News
Optical Cable wins college contract
Optical Cable Corp., Roanoke maker of fiber-optic cables, said Friday it has won a contract with the University of Rhode Island to connect 95 campus buildings. The project will be the showcase for other locations, including the community college system, hospital, and government facilities, said the company's president, Robert Kopstein. The company did not report the value of the contract but said the work will use $1.5 million to $3 million worth of cable.
- Staff report
Bankruptcies
Five 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.
Rosa Lee Lanier of Vinton, trading as Rosa's Family Restaurant, filed for a wage-earner plan for repayment of debts. She listed assets of $87,309 and liabilities of $90,631.
Mary Sue Coleman of Mavisdale, trading as Wagon Wheel Logging, filed for liquidation with assets of $20,850 and liabilities of $47,757.
Amos A. Stiltner of Mavisdale, who also trades as Wagon Wheel Logging, filed for liquidation with assets of $3,800 and liabilities of $93,588.
Jimmy Lee Weddle of Lebanon, a self-employed farm worker, filed for a wage-earner plan for repayment of debts. He said he had assets of $43,800 and liabilities of $54,895.
Roy S. Chandler of East Stone Gap, a self-employed electrician, filed for liquidation with assets of $165,500 and liabilities of $200,558.
LENGTH: Medium: 76 linesby CNB