THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Wednesday, February 21, 1996 TAG: 9602210400
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
LENGTH: Medium: 85 lines
Teamsters union ups membership by 4,000
Turning around 16 years of declining membership, the Teamsters union's average membership for 1995 averaged 1,436,943, about 4,000 more than in 1994. From 1979 to 1991, the union lost more than 400,000 members. In 1993 the union lost 22,000 and in 1994 it lost 17,000, which was not good news for the union but at least meant its rate of decline was slowing. ``With profits up but real wages down, working people are looking for a strong, democratic voice,'' Teamsters International President Ron Carey said in a news release. Carey said the union had been losing membership during the 1980s because of workers' reluctance to join a union with a reputation for corruption. (Staff)
ITT Night Vision gets $239 million contract
ITT Night Vision received a contract valued at up to $239 million to provide night-vision devices to the Army. The contract calls for AN/PVS-7D infantry night vision goggles; three variants of the AN/AVS-6 ANVIS aviator's goggles; a new monocular night vision device; and spare high-performance Gen III tubes. The company will start deliveries in September. The company, a division of ITT Industries Inc. of White Plains, N.Y., said the Army gave it the entire contract for its next procurement of night-vision devices. In previous contracts the Pentagon limited to 60 percent the amount any one contractor could obtain, the company said. ITT Industries, which makes products for the automotive, defense and fluid-technology industries, split from ITT Corp. late last year. (Dow Jones News Service)
Passenger trains must slow down after stations
Four days after a fiery crash outside Washington that killed 11 people, the government issued emergency rules Tuesday requiring passenger trains to restrict their speed after leaving stations. Passenger trains must limit speed to 30 miles per hour leaving stations, engineers will have to call out red or yellow signals to another crew member and railroads must ensure emergency exits are clearly marked and working. ``While the National Transportation Safety Board has not reached a final conclusion, enough questions have been answered to take actions now,'' Transportation Secretary Federico Pena said at a White House briefing. The Federal Railroad Administration rules were to take effect at 12:01 this morning. (AP)
FDA missed deadlines, reform group charges
The U.S. Food and Drug Administration failed to meet congressionally mandated deadlines in eight of 11 areas during the 1994 and 1995 fiscal years, Citizens for a Sound Economy said. The group, a not-for-profit ``citizen action group,'' compared the statutory requirements for FDA review times of foods, drugs and devices with actual review times submitted by the FDA for 1994 and 1995. The group's ``report card'' comes as both houses of Congress prepare to hold hearings on proposals to overhaul the FDA, long criticized for being too slow and too bureaucratic. The Senate Labor and Human Resources Committee begins hearings Thursday on proposals to overhaul the FDA. (Bloomberg Business News)
Settlement reached in ex-trader's suit
NationsBank Corp. has reached an out-of-court settlement with former bond trader Darryll Bolduc, who said he was fired for pointing out trading irregularities at the bank. The bank said Bolduc was fired for his overly aggressive trading style. The lawsuit questioned the effectiveness of the Charlotte-based bank's controls over its $23.8 billion investment portfolio. (AP)
Merck-Medco files suit against Rite Aid
Merck-Medco Managed Care Inc. filed suit Tuesday alleging four pharmacy retailers engaged in an illegal antitrust conspiracy in a December 1995 boycott of the Maryland state employees' and retirees' prescription drug benefit program. The suit was filed in Federal District Court here against Rite Aid Corp., NeighborCare Pharmacies Inc., Giant Food Inc. and Epic Pharmacy Network Inc. It seeks treble damages and injunctive relief for antitrust violations. (AP)
GM to merge Pontiac and GMC divisions
General Motors Corp. plans to merge Pontiac and GMC. GM hopes to give the combined division an image projecting physical power and outdoor activity to attract young buyers, The New York Times reported. GM was expected to announce today that it is combining the staffs and dealer networks of the two divisions into a single marketing unit, the newspaper said, citing company officials who spoke on condition of anonymity. (AP) by CNB