THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, May 3, 1996 TAG: 9605030659
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: Medium: 53 lines
Union ends mediation with major railroads
The federal agency that oversees rail labor talks has ended the mediation phase of negotiations between the major railroads, including Norfolk Southern Corp., and the Brotherhood of Maintenance of Way Employees. It was the last rail union released by the National Mediation Board. Other unions were released last month. The releases begin a countdown toward a possible summer strike. The next step is expected to be a Presidential Emergency Board that will recommend solutions to the impasse between the unions and the railroads. (Journal of Commerce)
WPEN builds transmitter in Norfolk for Channel 62
WPEN-TV, an independent commercial television station in Hampton, said it completed the installation of an antenna, on Channel 62 in Norfolk, that will allow its signals to reach non-cable TV households in South Hampton Roads. WPEN is already carried on most Hampton Roads cable systems. It has two other antennas on Channels 68 and 51 on the Peninsula. WPEN, which is owned by Lockwood Broadcasting Inc., carries popular re-runs like ``M*A*S*H'' and a mix of first-run syndicated shows and sportscasts, including Baltimore Orioles games. (Staff)
Paper: Memo indicates Ford Vans also troubled
Ford Motor Co.'s recall of 8.7 million cars and trucks in the United States and Canada last week leaves out tens of thousands of vehicles that may be even more fire-prone. USA Today cites a draft of a Jan. 20, 1993, internal Ford memo that it said lists ``known incidents which are attributed to the ignition switch.'' The newspaper said the list includes 1986 Econoline full-size vans and Aerostar mini-vans, neither of which was included in the recall. A Ford spokeswoman said late Wednesday that the 1993 memo ``is a preliminary draft
Mortgage Rates Inch Up to 7.99 percent average
Thirty-year, fixed rate mortgages averaged 7.99 percent this week, up from 7.92 percent last week, according to a national survey released Thursday by the Federal Home Loan Mortgage Corp. It was the highest since April 11, when rates averaged 8.05 percent. After falling to 6.94 percent on Feb. 14, rates began to rise gradually and have been in the upper 7 percent range in recent weeks. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.76 percent, up from 5.74 percent last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.50 percent this week, up from 7.43 percent a week earlier. The rates do not include add-on fees known as points. (AP) by CNB