ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, July 31, 1996 TAG: 9607310043
SECTION: BUSINESS PAGE: B8 EDITION: METRO
The New Century Venture Center, a week-old Roanoke business incubator for start-up companies, said Tuesday its second tenant will be SynCom Electronics Corp.
Co-founder Scott Rice is moving the business from his Roanoke home. He and Christopher Gray design and market electronic connectors and cable assemblies for manufacturers of computers, radio and telecommunications gear.
The incubator was funded by the state, the Center for Innovative Technology in Herndon, the city of Roanoke and private contributors and spearheaded by business leaders and the Roanoke Regional Chamber of Commerce. - Staff report Aetna to ax 1,700 positions
HARTFORD, Conn. - Aetna Inc. said Tuesday it will cut 1,700 jobs nationwide by October 1997 as the company stops administering Medicare fee-for-service programs.
Aetna said last week it will not renew contracts with the federal Health Care Financing Administration, whose programs pay for services as they are rendered and allow participants to choose their own doctors.
Instead, Aetna said it will concentrate on the growing managed care Medicare business, in which participants are enrolled in health maintenance organizations. - Associated Press Tultex to expand into new plant
Tultex Corp. said Tuesday it has bought an Asheville, N.C., textile dyeing and finishing factory so it can produce more T-shirts and sweat pants.
Tultex did not reveal what it paid Champion Finishing Co. for the plant.
Tultex said it intends to hire 100 to 110 of the plant's 175 workers. Tultex will use the plant to make up for a shortage of dyeing and finishing capacity at its Martinsville facility.
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