ROANOKE TIMES 
                      Copyright (c) 1997, Roanoke Times

DATE: Friday, March 14, 1997                 TAG: 9703140021
SECTION: BUSINESS                 PAGE: B-8  EDITION: METRO 

IN BUSINESS

INDICATOR

Blue Ridge Parkway travel in the Roanoke district dropped a steep 67.7 percent in February compared with the same month last year, despite milder weather. The decline also was evident throughout Virginia; the number of visitors fell 38.9 percent.

Travel on the entire parkway was up 14 percent because of a 58.6 percent increase on the North Carolina section. So far this year, the North Carolina portion of the parkway has seen 84.7 percent more traffic, while Virginia has seen 15.9 percent less.

Burger King makes a change at the top

MIAMI - Burger King Corp., the nation's second largest fast-food restaurant chain, named a new chief executive Thursday to try build on recent gains against competitors.

Dennis Malamatinas, who most recently has been president of Burger King's parent, Grand Metropolitan PLC's Asian liquor business, is taking over from Robert C. Lowes. Lowes is leaving both Burger King and Grand Met, where he has held several finance and general management positions.

The fast-food marketer also said it had created the new job of president for Burger King North America and named Paul Clayton, its top worldwide marketing executive, to the job.

-ASSOCIATED PRESS

Mortgage rates mixed

WASHINGTON - Thirty-year, fixed-rate mortgages averaged 7.84 percent this week, same as last week, according to a national survey released Thursday by Freddie Mac. The survey covers about 125 national lenders.

On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.61 percent, up from 5.54 percent last week and the highest since mid-October. Fifteen-year mortgages averaged 7.34 percent, down from 7.35 percent.

-ASSOCIATED PRESS

TCI raises its cable TV rates to offset programming costs

NEW YORK - The nation's biggest cable television company, Tele-Communications Inc., is raising rates 7 percent for most subscribers, largely to offset the rising cost of popular programming such as MTV and ESPN.

The increase, announced Thursday, will affect 11 million of TCI's 14 million subscribers in all 49 states in which it operates.

TCI's decision comes as the company works to roll out its new ALL-TV digital cable service and reduce its $15 billion in debt. It also comes three months after TCI said it would eliminate 2,500 jobs and freeze or cut senior executive salaries.

Leo J. Hindery Jr., president of TCI, said its prices will remain ``below those charged by almost all our competition.'' Its standard service will rise to about $27 a month.

-ASSOCIATED PRESS

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