THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Thursday, October 10, 1996 TAG: 9610100497
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 41 lines
Rostock-Atlantik Line, a new German shipping line, has chosen Richmond as one of its three North American ports of call. The other ports will be Philadelphia and Halifax, Nova Scotia. The line also considered Norfolk. Rostock-Atlantik aims to fill gaps in the container trade between Northern Europe and the North America. It will serve the Baltic nations of Russia, Finland, Latvia and Poland through the former East German port city of Rostock. Planning to begin service later this year, the line will lease four ships capable of carrying 1,000 20-foot cargo containers each. (Journal of Commerce) First Virginia EPS increases 3.5 percent
Earnings per share for First Virginia Banks Inc., before a one-time Savings Association Insurance Fund (SAIF) assessment, increased 3.5 percent to $.89 per share compared to the $.86 per share earned in the prior year's third quarter. During the quarter, the corporation was assessed an after-tax charge of $689,000 as part of the recently enacted bill to recapitalize SAIF, which was depleted from the failures in the savings and loan industry in the 1980s and early 1990s. After the charge, net income in the third quarter declined to $28,586,000 compared to $29,269,000 earned in the prior year's third quarter. By Sept. 30, total loans were $5.293 billion, and average deposits of $6.960 billion. (Staff) Keith Alessi takes rein at Jackson Hewitt
Jackson Hewitt Inc., the Virginia Beach-based tax service, said that founder John T. Hewitt has relinquished chairmanship of the company to the recently appointed president and chief executive, Keith E. Alessi. Hewitt will remain on Jackson Hewitt's board. The tax service said last month that Hewitt would stay on as chairman of the company, which has been battling back from financial problems. But after further consideration, ``it makes sense for the CEO to also act as chairman,'' Alessi said in a statement Wednesday. (Staff) by CNB