THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, August 2, 1996 TAG: 9608020617
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 50 lines
National Emergency Services Inc. of Virginia Beach has won a multimillion dollar contract from the Army to provide emergency-room physicians for Army medical activities in three locations, Rep. Owen Pickett's office announced Thursday. The Army estimates the contract would be worth $3.6 million in the 1997 federal fiscal year beginning Oct. 1, and $19 million through Sept. 20, 2001. Under the contract, National Emergency Services would provide the doctors as needed to Army medical facilities in El Paso, Texas; Fort Huachuca, Ariz.; and Fort Irwin, Calif. (Staff) Franklin and Wakefield banks form new company
The Bank of Franklin and the Bank of Sussex and Surry in Wakefield said Thursday they completed their affiliation as units of a newly formed holding company, United Community Bankshares Inc. Based in Franklin, United Community has $150 million in assets and $17 million in capital. Bank of Franklin stockholders will receive 4.8 shares in the new company for each of their shares, while stockholders of Bank of Sussex and Surry will receive three United Community shares for each of their shares. (Staff) Siemens receives Indonesia contract
Electronics group Siemens AG said it has received a $337.8 million communications contract in Indonesia. The Munich, Germany-based company said it will supply a complete telecommunications network to PT Bukaka SingTel International, installing more than 400,000 telephone lines over three years. The contract includes delivering access, switching and transmission technology, supplying and laying fiber optic cables and handling appropriate network management, the company said. Siemens AG is Germany's largest electronics company, with operations in rail transport, components, computers, semiconductors, telecommunications and power plants. Siemens has operations in Hampton Roads. (AP) Airport flight insurance still a lively business
Should you buy flight insurance? Probably not, advises Joseph Belth, professor emeritus of insurance at the Indiana University and long-time critic of the insurance industry. His reasoning: If you are insurance-savvy, you already have life insurance that will result in payment to your survivors; if you are on a business trip, you may be covered by your company's policy; or if you charged your airline ticket on a major credit card, chances are that the card provides automatic coverage. Even if you aren't otherwise covered, paying extra for flight insurance doesn't make sense, Belth said. The risk also makes the purchase questionable. Chances of dying in an airline crash are about 1 in 3 million. (AP) by CNB