ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Tuesday, February 18, 1997 TAG: 9702180100
SECTION: BUSINESS PAGE: B-6 EDITION: METRO
Steel industry fears Conrail merger moves
COLUMBUS, OHIO - CSX Corp.'s proposed $9.45 billion acquisition of Conrail Inc. would lead to poor rail service and higher shipping rates in Ohio, according to a group representing that state's steel industry.
The Ohio Steel Council opposes the planned combination of the two Eastern railroad giants, saying it would eliminate competition on many routes and leave shippers open to inflated prices. It could also lead to the loss of jobs, the group said.
The council, which consists of steel, labor, education and government officials, said it has similar concerns about a combination of Conrail and Norfolk Southern Corp., which has made a $10.32 billion hostile bid for the Philadelphia-based railroad.
``Steelmakers have worked hard to improve their competitiveness,'' Harold Kelly, the council's co-chairman, said in a statement. ``These mergers could seriously undermine those efforts and jeopardize the job security of our employees.''
Kelly is executive vice president at Republic Engineered Steels Inc. in Massillon, Ohio.
- Bloomberg Business News
Toll-free calling start date set
Local toll-free calling between Christiansburg and the Roanoke-Salem area will begin in April. The State Corporation Commission approved an extended-local-service plan between the New River Valley and Roanoke Valley communities last year, but Bell Atlantic Corp. can't begin offering the service until it completes an upgrade of its a statewide billing system.
In exchange for being able to make local calls to Roanoke and Salem, Christiansburg residents with flat-rate service will pay an additional $2.79 a month for phone service. Bills of Bell Atlantic customers in Salem will increase by 33 cents a month and the bills of Roanoke customers will climb by 20 cents monthly to offset the elimination of long distance charges.
- Staff report
Coal production up for week
CHARLESTON, W.Va. - Domestic coal production rose 5.6 percent to 21.4 million tons during the week ending Feb. 8 from 20.2 million tons the week before, the U.S. Department of Energy said Monday.
Virginia mines produced 737,000 tons during the survey week, up from 659,000 tons the previous week and 554,000 tons in the same week a year ago.
- Associated Press
Staples will wait on merger move
NEW YORK - Staples Inc. may have to wait longer than expected to complete its $3.9 billion acquisition of Office Depot Inc.
The nation's two largest office supply retailers, with a combined 1,124 stores, said Monday they have agreed to extend the required waiting period for closing the deal from Feb. 25 to March 5.
- Associated Press
Financial markets closed Monday
U.S. financial markets and most government agencies were closed Monday for the Presidents Day holiday. Today's edition of The Roanoke Times, therefore, does not contain its usual financial data or results of the weekly auction of Treasury Department securities. Those reports will resume with Wednesday's edition.
LENGTH: Medium: 67 linesby CNB