THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, June 6, 1996 TAG: 9606060524
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 53 lines
Continental Airlines will begin service today from Norfolk International Airport to Houston and Cleveland. Two daily flights will be made to Houston and one to Cleveland. The new Houston flights will connect Norfolk to Continental's largest hub and its gateway to Latin America and Mexico. The service is part of the airline's nationwide summer expansion, which includes service to four new cities - Charlotte; Lubbock, Texas; Portland, Ore.; and San Jose, Calif. The new flights are Continental's first expansion in Norfolk since its low-priced Peanuts fares campaign fizzled and it withdrew about two-thirds of its 24 daily flights. (Staff) Brunswick to sell assets of two fishing boats
Brunswick Corp. said Wednesday it has agreed to sell the assets related to its Starcraft and MonArk brands of fishing boats to Starcraft Marine LLC. The move is part of Brunswick's effort to diminish its presence in the boating industry while building its outdoor and camping equipment business. The company also is trying to concentrate on more profitable boating lines, such as its Sea Ray and Bayliner brands of cruisers and yachts, and the Boston Whaler brand of offshore boats, which the company agreed to acquire in April. Brunswick also said in April it would sell some fresh-water fishing boat brands to Tracker Marine. (Dow Jones News) American firms are free to bid on Iraqi crude oil
American firms are free to bid on the $2 billion in crude oil Iraq will be permitted to sell in the next six months. All proceeds must be used to buy food and medicine for the Iraqi people or for reparations to Kuwaitis, Kurds and Iraqi Shiites who were victims of Iraqi aggression. The American firms can bid for the oil and sell machinery to extract it from the world's second-largest oil producer. The agreement allows Iraq to sell $2 billion in crude oil for an initial 180-day period to buy supplies under rigorous U.N. controls. American firms engaged in an Iraqi venture will require licenses from the Treasury Department. (Associated Press) Burlington Industries to close two plants
Burlington Industries Inc. said it will close two of its three North Carolina plants that make knitted fabrics. It will fire about 1,100 workers. The closings, at plants in Wake Forest and Denton, will result in a charge of $20 million to $23 million, or 32 to 37 cents a share, in its fiscal year ending Sept. 28, the textile company said. The other plant, in Cramerton, will be converted to produce high-end knits for a new sportswear division. It will hire 110 employees. The company's knitted fabrics division has been unprofitable for a number of years because there are too many plants producing the same types of material and because of competition from imported garments, said George Henderson, Burlington's president and chief executive. (Dow Jones) by CNB