THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, July 19, 1996 TAG: 9607190440
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 126 lines
Newport News Shipbuilding could find out as early as this month whether it is a finalist to build three patrol vessels for the Philippine Navy, according to the company newsletter. The shipyard submitted an initial bid in June to build three 85-meter versions of its FF-21 fast frigate design for the Pacific island nation. The Philippines could pick a builder from among the finalists as early as the end of the year. The three ships would be built over the next five years. The Peninsula yard, which employs 18,000 workers, is trying to diversify by attracting commercial and foreign military orders. (Staff) Lean Cuisine recalls turkey and vegetable pies
The Nestle Frozen Food Co. is recalling about 21,000 packages of a Lean Cuisine turkey and vegetable pie because the labels neglect to say that the product has eggs, to which some people are allergic, the Agriculture Department said Thursday. The recall covers all packages of ``Lean Cuisine Turkey & Country Vegetable Pie'' with the code 6159NH P-695 on the side. Customers with egg allergies should return the product to the store. The pies were sold in 18 states including Virginia. (AP) Three unions settle with nation's railroads
The nation's railroads reached agreement with three unions Thursday, leaving just two contracts to be settled as a deadline approaches for a possible work stoppage. A federally mandated cooling-off period expires next Wednesday. After that, strikes or lockouts could occur between the unions and the nation's freight railroads, including Norfolk Southern, which bargain as a group. The settlement announced Thursday covers 14,500 workers represented by the International Association of Machinists, International Brotherhood of Electrical Workers and the Sheet Metal Workers International Association. (AP) Ford recalls cars, minivans for defects
Ford Motor Co. on Thursday announced safety recalls of nearly 100,000 1996 Taurus-Mercury Sable sedans and Windstar minivans to fix a defect that could cause them to roll when parked. Ford also is recalling 7,125 1995 Mercury Villager minivans because the third-row bench seat may not properly latch to the seat rail. Ford owners who want to find out if their vehicle is subject to the recalls can contact their dealer or call Ford's toll-free customer assistance number, (800) 392-3673, and provide the vehicle identification number. (AP) Daily Press to launch on-line newspaper
The Daily Press of Newport News said it will launch around Labor Day an expanded version of its on-line newspaper under a deal struck by its parent, the Chicago-based Tribune Co., with America Online Inc. As part of the deal in which Tribune bought a 20 percent interest in AOL's Digital City service, the Daily Press will provide news, information, entertainment and advertising to computer users via the Internet and AOL. The Daily Press, which now has an online offering called DailyXPress, said there are 38,000 AOL subscribers in Hampton Roads. (Staff) Mitsubishi announces largest recall ever
Mitsubishi Motors Corp. is recalling about 650,000 cars worldwide to replace faulty brake parts, the largest number of cars ever recalled by the Japanese company. The recall announced Thursday affects Sigma and the Diamante luxury cars built in Japan between April 1990 and December 1993 and Pajero sport-utility vehicles manufactured between November 1990 and January 1994. The Debonair luxury cars and the GTO also will be brought in for repairs. Mitsubishi is also recalling 2,000 units of the Diamante Wagon built at its Australian plant between November 1992 and May 1995.In addition to 300,000 vehicles in Japan, Mitsubishi will recall 335,000 vehicles abroad to repair the same brake hose problem. A company spokesman wouldn't disclose further details. (AP) U.S. Healthcare approves merger with Aetna Life
U.S. Healthcare Inc. shareholders approved the company's $8.9 billion merger with Aetna Life & Casualty Co., U.S. Healthcare said Thursday. Aetna shareholders were expected to approve the merger later in the day. After receiving both shareholder approvals, the two companies will close the deal Friday, U.S. Healthcare said. The merger, originally announced April 1, would create the nation's largest health insurance provider with 23 million customers. (Dow Jones News) Cai Wireless transmits digital programming
CAI Wireless Systems Inc. in Virginia Beach Thursday transmitted digitally encoded programming to Thomson television set-top converters using CAI's wireless delivery system here. CAI's digital wireless cable system, the first of its kind in the United States, is in the final stages of testing. The Federal Communications Commission said CAI was the first terrestrial video programming service to be authorized to go digital. Last week, at an industry conference, the FCC notified wireless cable operators that it had adopted its new Digital Declaratory Ruling policy, whereby the Commission will routinely grant non-interfering licenses to digital wireless cable operators. (Staff) ATT may stop unsolicited mailings of MasterCards
AT&T confirmed Thursday that it is considering ending a program that sends MasterCards to AT&T calling card customers without their permission. AT&T has been sending letters since April to some of its calling-card holders, alerting them they will soon receive an AT&T Universal MasterCard. Unless the customer calls an 800 number to cancel the mailing, they get the MasterCard, which replaces their calling card. (AP) Fidelity expands 401(k) to foreign markets
Fidelity Investments said Thursday it will expand its 401(k) retirement plan business globally, beginning with Canada, Britain and Hong Kong. ``Participant accounts and participant-directed accounts would be a relatively new thing in these markets,'' said Bob Reynolds, president of Fidelity's Institutional Investment Retirement Group. If all goes well in the three markets, Fidelity said it will try to replicate the program in Europe, Central and South America and the Far East. ``The global marketplace is very, very attractive to a company that has so fully dominated the mutual fund business, as well as the 401(k) business in the United States,'' said Eric Kobren, editor of the independent newsletter Fidelity Insight. Fidelity said it will offer companies in those countries investment management, record-keeping and education of plan participants. International customers will be able to get daily fund valuations and choose funds from a multiple-product line, all of which are accessible over the telephone and on the Internet. (Dow Jones News) Feds says business computer outlay down
U.S. companies appear to be slowing down their purchases of new computers, according to a report by the Federal Reserve Board. ``Incoming orders data and recent anecdotal reports suggest that the growth in real computer outlays may be slowing,'' the Fed said in a monetary policy report to the U.S. Congress. However, the Fed said demand for other types of capital equipment appeared to have firmed somewhat in the first quarter of 1996. During the most recent economic expansion, the Fed said computer purchases by businesses had accounted for much of the growth in durable goods orders. The Fed said companies had stepped up their purchases of computers to take advantage of price cuts and new technology. (Dow Jones News)
KEYWORDS: RECALL by CNB