THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Tuesday, March 28, 1995 TAG: 9503280368
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Short : 42 lines
Virginia trailed only California and Texas in landing Pentagon orders last year. California received $22.6 billion, or 21 percent of all money spent on military procurement in fiscal '94. Following California were Texas, at $8.1 billion, or 7.4 percent, of the total. Virginia's share was $8 billion, or 7.3 percent. Missouri's $6.1 billion represented 5.6 percent while Florida received $5.9 billion, or 5.4 percent. The only change in the rankings from 1993 was that Missouri and Florida swapped positions. (Staff and wire reports) NationsBank rewards, entices chairman McColl
NationsBank Corp. awarded chairman Hugh McColl Jr. 200,000 shares of restricted stock valued at $10.7 million for his past contributions and as an enticement to remain with the Charlotte-based company. McColl is the only executive to receive such an award as part of 1994 compensation. It boosted his annual pay package fivefold to $13.9 million from $2.78 million a year earlier, according to a proxy statement filed with the Securities and Exchange Commission. (Bloomberg Business News) Chrysler to replace faulty latches on its minivans
Chrysler Corp. said Monday it will replace the rear liftgate latches on all 1984-94 minivans, ending an 18-month investigation into whether the rear liftgates open on impact. The action technically isn't considered a recall. But Chrysler said it will notify owners of all Dodge Caravans, Plymouth Voyagers and Chrysler Town & Country minivans built between 1984 and 1994 that the latches can be replaced free of charge. The National Highway Traffic Safety Administration has been investigating whether the rear lift gates of the 4 million Chrysler minivans tend to unlatch in crashes, allowing unbelted passengers to be ejected. The agency has found that at least 28 people have died in such accidents. (AP) by CNB