THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, April 5, 1996 TAG: 9604050474
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
TYPE: Business Briefs
LENGTH: Medium: 57 lines
In yet another management shuffle, nView Corp. announced that its president and chief executive has resigned and its chairman will assume those roles. It's the third management change in a year at the struggling Newport News-based display panel and projector manufacturer. Robert D. Hoke, the resigning president and chief executive, assumed those posts from company founder James H. Vogeley in June. Angelo Guastaferro, the chairman, took over active management of the company in January. Guastaferro will assume the positions of president and chief executive. Hoke will serve out his term as director and serve as special assistant to the president until July. (Staff) The Travel Channel to launch discount club
The Travel Channel, a unit of Norfolk-based Landmark Communications Inc., said it will launch a discount travel club in conjunction with CUC International Inc., a large membership-based travel agency in Stamford, Conn. The Travel Channel Club will provide enrolling members with 5 percent cash rebates on airline, hotel and auto-rental purchases. A three-month trial membership in the club costs $1, followed by regular fees of $4.95 a month. The Travel Channel is based in Atlanta. Landmark, its parent, also owns The Virginian-Pilot among other media holdings. (Staff) Circuit City reports earnings decline
Circuit City Stores Inc., the Richmond-based consumer electronics and used-car retailer, said its fourth-quarter earnings fell 2 percent, mostly due to price wars. The company earned $82.1 million in the quarter ended Feb. 29 compared to $83.7 million in the year-earlier period. Quarterly sales rose 18 percent to $2.3 billion. Same-store sales - revenues at stores open at least a year - remained the same. For the fiscal year, earnings rose 7 percent to $179.4 million, and sales rose 26 percent to $7 billion. Same-store sales rose 5 percent. (Staff) Norfolk Southern retirees win asbestos lawsuit
A jury awarded $650,000 to three retired railroad employees who were exposed to asbestos while working in dust-filled shops throughout their careers with Norfolk Southern Corp. A state Circuit Court jury ordered the railroad to pay $300,000 to Frank E. Leftwich, $200,000 to William C. Cawley, and $150,000 to George R. Brogan. Two other men who were part of the lawsuit received no damages. Willard Moody Jr., a Portsmouth lawyer who represented the men, said they were exposed to toxic dust that contained asbestos and that Norfolk Southern has known of the danger of asbestos for half a century. A Roanoke lawyer who represented Norfolk Southern, said the railroad was not aware of the scope of the problem in the 1950s, when the plaintiffs were hired. (AP) by CNB