THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Thursday, October 5, 1995 TAG: 9510050508
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Medium: 63 lines
Norshipco won a contract from the Navy for an overhaul of the guided-missile frigate Kauffman that could be worth more than $6 million. The Kauffman is scheduled to arrive in the yard at the end of October and stay for six months, said Ernest Reilly, the yard's vice president of contracting. Norfolk's biggest shipyard, Norshipco employs about 2,800. One of Norfolk's smallest yards, Lyon Shipyard Inc., won two small Navy repair jobs worth $327,267 combined. Also Dreadnought Marine Inc., a down-river ship repairer, won a small $150,000 contract for repairs on the guided-missile destroyer Kidd. (Staff) Dollar Tree's sales increase 25 percent
Dollar Tree Stores Inc., the Norfolk-based chain of discount variety stores, said Wednesday its third-quarter sales rose 25 percent. The company's revenues were $67.4 million in the three-month period ended Sept. 30, up from $53.9 million in the year-earlier quarter. Same-store sales - those at stores open at least a year - rose 2.8 percent. Dollar Tree executives said they were pleased with the performance in light of a weakening retail environment. The company's third-quarter earnings will be released later this month. Dollar Tree, which offers merchandise for $1 each, has 478 stores nationwide. (Staff) Charlotte broker opens Virginia Beach office
As part of an expansion into Virginia, the securities brokerage firm Interstate/Johnson Lane has opened an office in Virginia Beach. The Charlotte-based firm opened two other Virginia branches, one in Richmond and another in Roanoke, earlier this year. The Virginia Beach office, in the Pavilion Center at 2101 Parks Ave., will be managed by Frank Bond. Bond and another broker in Interstate/Johnson Lane's Virginia Beach office, Marc Hines, previously worked in the Virginia Beach office of Wheat First Butcher Singer, a Richmond-based securities firm. (Staff) Supreme Court refuses railroad workers' case
The Supreme Court has refused to hear arguments in three separate cases involving injured rail workers seeking compensation from their employers. The court rejected appeals from the workers that their injuries were caused by the railroads, after lower courts had declined to find the carriers at fault. Norfolk & Western Railway Co. had been sued by two injured workers. The other case was filed against Southern Pacific Railroad Co. The Supreme Court also refused to hear a case involving the use of radar detectors by truck drivers on Virginia roads. (Journal of Commerce) Dominion in running for Peruvian utility
Dominion Resources Inc., Richmond-based parent of Virginia Power, is part of a group that is bidding to buy a 60 percent stake in Peru's state-owned electric utility. Dominion's partner is Chile's Cia. Chilena de Generacion Electrica SA. The minimum price for the winning bidder will be $373 million and the winning consortium must within a year start building a 100-megawatt power station that could cost another $60 million. Several other U.S. energy companies and companies in Belgium, the United Kingdom, Spain, France and Peru are also among the bidding groups. (Bloomberg) by CNB