ROANOKE TIMES
Copyright (c) 1997, Roanoke Times
DATE: Thursday, March 13, 1997 TAG: 9703130042
SECTION: BUSINESS PAGE: B-8 EDITION: METRO
TODAY'S INDICATOR
There were 417 bankruptcy cases filed last month - at a clip of more than 100 each week - up 24 percent from the 335 filed in February 1996. About 6.7 percent of them involved businesses, including those filed by individuals but counted as businesses by the court because of their connections to business creditors.
Dow replaces 4 components
NEW YORK - Four companies are being replaced in Wall Street's best-known indicator, the Dow Jones industrial average.
In an effort to diversify the companies that compose the 30-stock average, Westinghouse Electric Corp., Texaco Inc., Bethlehem Steel Corp. and Woolworth Corp. are being eliminated, Dow Jones & Co. said Wednesday. They will be replaced Monday by Travelers Group Inc., Hewlett-Packard Co., Johnson & Johnson and Wal-Mart Stores Inc.
The last changes to the Dow industrials were made in May 1991.
-ASSOCIATED PRESS
Friday's union vote at Volvo canceled
A vote scheduled for Friday on whether to unionize salaried workers at Volvo GM Heavy Truck Corp. in Dublin has been withdrawn.
A representative of the international union, United Auto Workers, in Murfreesboro, Tenn., declined to comment Wednesday.
United Auto Workers Local 2069 in Dublin represents hourly employees at the 1,400-employee plant. An additional 229 of the plant's staff are salaried.
The National Labor Relations Board initially was petitioned to order the vote in early February.
-STAFF REPORT
Government sues Alliant, alleges overcharging in weapons contract
MINNEAPOLIS - The U.S. government has filed suit against Alliant Techsystems, claiming the company overcharged the Army for 104,000 antitank weapons in a 1990 contract.
The federal suit, filed Monday in Minneapolis, did not say how much Alliant allegedly overcharged, but makes reference to at least $800,000. Assistant U.S. Attorney Lynn Zentner said the exact damages will be determined as the case progresses.
The lawsuit also seeks triple damages and penalties that can range from $5,000 to $10,000 per claim. Alliant said it strongly believes the allegations are without merit.
The suit claims Alliant arranged to buy components for the hand-held antitank weapons at prices below those quoted to the Army. Alliant is the Army's contract operator of the Radford Army Ammunition Plant; it sublets portions of the arsenal to other companies.
-ASSOCIATED PRESS
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