THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, July 16, 1996 TAG: 9607160403
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 51 lines
Virginia rated No. 1 by business magazine
The spring 1996 issue of Southern Business & Development magazine, which explores regional business and economic development issues specific to the South, gave top ratings to the Virginia Department of Economic Development, Hampton Roads, Newport News and Richmond. Newport News won the middle-market award, Hampton Roads won the major-market award, and Richmond won the top-deal award. SB&D said, ``In economic development circles, it doesn't get a whole lot better than Virginia's 1995: an increase of 188 percent in capital investment with two of the top three economic development deals in the South in Motorola and IBM-Toshiba.'' (Staff)
Colonna's gets $4 million Sealift conversion job
The Military Sealift Command awarded Colonna's Shipyard Inc. a contract to convert the research ship Waters. Combined with a healthy backlog of commercial work, the $4 million Waters job will keep the small Norfolk shipyard's 350 workers busy until October, said shipyard vice president Doug Forrest. The ship is scheduled to arrive in the yard in late July and go up in the drydock in early August. The Waters, built by Avondale Industries Inc. in New Orleans, was delivered in 1993. It had been a research ship serving the Space and Naval Warfare Systems Command, but has been laid up since funding for its operation was cut. Colonna's will convert the 442-foot ship to do oceanographic surveys. (Staff)
Ford raises prices on Explorer, F-150 pickup
Ford Motor Co., struggling to increase profits at the same pace as its domestic rivals, quietly raised prices of its two biggest sellers earlier this month. The automaker confirmed Monday that it raised prices on its Explorer sport utility vehicle and the new F-150 pickup by $200 to $425. The increase was announced to dealers only. The increases were first reported publicly Monday in the industry journal Automotive News. Effective July 1, the base price of the Explorer was raised by $200 on all models. F-150 price increases ranged from $385 to $400, depending on model, with an additional $25 hike in the pickup's destination charge to $640. (Associated Press)
Cross two continents in a single flight
What's able to leap two continents in a single bound? United Airlines' new nonstop service between Chicago and Hong Kong, which claims its new 8,280-mile trip is the longest nonstop commercial route in aviation history. The flight takes 15 hours, 55 minutes from Chicago to Hong Kong, but can travel the reverse route in 15 hours flat because of tail winds. The flight carries four pilots and 18 flight attendants, and even has bunk areas for the crew to nap during their breaks. No such luxury for the passengers, who must endure the flight in their seats. by CNB