THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, September 27, 1995 TAG: 9509270548
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Medium: 55 lines
Federal Reserve leaves interest rates unchanged
Amid signs of improving economic growth, the Federal Reserve left interest rates untouched Tuesday. Analysts doubt there will be another cut this year. The committee will meet twice more this year, Nov. 15 and Dec. 19, to review the economy. Federal Reserve Chairman Alan Greenspan last week gave an upbeat reading of the economy in congressional testimony, saying that the threat of a recession had passed. He said growth was strengthening and inflationary pressures were easing. (Associated Press)
Bell Atlantic executive in charge of labor talks quits
Bell Atlantic Corp.'s top executive in charge of labor negotiations resigned Monday in the middle of a seven-week contract showdown between the telephone company and its largest union. Alfred C. Koeppe is leaving his position as president and chief executive officer of Bell Atlantic-New Jersey to become senior vice president-external affairs at Public Service Electric & Gas Co. He also served as senior executive in charge of negotiations with labor unions representing company employees in contract talks this year. The Communications Workers of America represents more than 37,000 telephone workers at the company's operations in Virginia, five other states and the District of Columbia. (Knight-Ridder/Tribune Business News)
Hampton may use taxes to help build retailcenter
City officials are proposing to borrow $12 million to help a developer build a major retail center along Interstate 64 near the Hampton Coliseum. The $58 million project would feature about 25 stores and could involve relocating a church and about 20 homes. Public money would be used to build and improve the surrounding road and sewer systems but not to help finance the commercial part. The borrowed money would be repaid from tax dollars generated by the project. The developer, Robert Brown & Associates of Norfolk, said the proposed cluster of stores would be anchored by a Super Kmart or similar large store. (AP) Pagers go blank when satellite system goes off
Millions of personal pagers across the country were rendered useless Tuesday when a computer operator inadvertently sent out a command that turned off thousands of satellite receivers. Space Com, a Tulsa, Okla-based satellite transmission service, had to manually reprogram the receivers one by one. About 95 percent of service was restored by the end of the workday. The remainder of service was expected to be back by this morning. The biggest concern was in the medical field, where doctors are on 24-hour emergency standby. (AP) by CNB