THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, February 27, 1996 TAG: 9602270393
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Brief
LENGTH: Medium: 58 lines
Unions at Ingalls ratify new contract
Workers at Ingalls Shipbuilding ratified new 39-month contracts in voting that ended last weekend. The contracts cover about 8,000 employees represented by several unions at the Pascagoula, Miss., shipyard which builds surface warships for the Navy. Union members had picketed the yard when the previous contracts expired Feb. 11, bringing work to a halt for two days. Work resumed when the old contracts were extended until workers voted on the new contracts. Ingalls is a unit of Woodland Hills, Calif.-based Litton Industries Inc. (Staff) Fonda Group to buy James River unit
Fonda Group Inc. said it agreed to pay $54 million for James River Corp.'s specialty operations, which make party goods, specialty-tissue products and food-service products. The businesses to be sold have annual sales of about $125 million and employ 700 people. James River, the Richmond-based maker of Dixie cups, Brawny paper towels and Quilted Northern bathroom tissue, agreed to sell its party-goods plant in Indianapolis; its specialty tissue mill in Gouverneur, N.Y.; and its food service specialties plant in Rancho Dominguez, Calif. (Bloomberg Business News) Most employers won't make employee changes
Minimal staffing changes are expected for Hampton Roads this spring, according to the latest Employment Outlook Survey released by Manpower Inc., a temporary help firm. The quarterly survey of area employers reveals that 88 percent don't expect to change their employee mix and 3 percent are uncertain. Six percent plan to add workers during the spring months while 3 percent plan to cut back. Some job openings will be in wholesale/retail trade in the coming months but reductions are expected in transportation/public utilities. The national outlook shows some layoffs. Of more than 15,000 companies surveyed, 26 percent intend to add jobs, 8 percent will decrease, 63 percent will remain unchanged and 3 percent are uncertain. (Staff) Era ends, Silicon Graphics prepares to buy Cray
Silicon Graphics Inc., whose computers have created the visual effects in fantasy movies such as ``Jurassic Park,'' said it will buy the troubled supercomputer maker Cray Research Inc. for more than $700 million. The deal ends the independence of the biggest and last supercomputer-only company and brings Silicon Graphics into line with competitor Hewlett-Packard Co., which bought another supercomputer firm in September. Silicon Graphics will pay $30 per share for about 19.2 million shares, or 75 percent, of Cray's outstanding shares, a total of $576 million. It will acquire the rest over time on a one-to-one ratio to its stock price. (AP) by CNB