THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, October 25, 1996 TAG: 9610250744
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 43 lines
The Federal Communications Commission and long-distance carriers asked the Supreme Court Thursday to reverse a lower court ruling that suspended rules for opening the telephone industry to competition. AT&T Corp., MCI Communications Corp. and more than 30 companies filed a request in the high court. A ruling could come within days, an FCC staffer said. Last week, the 8th U.S. Circuit Court of Appeals in St. Louis suspended key elements of the FCC's interconnection order, which aims to open the $90 billion local phone market to competition. The appeals court agreed to freeze the rules until it considers challenges to the order in January. (Dow Jones) Chief executive resigns at Trans World Airlines
Three months after an explosion destroyed a TWA jetliner and on a day the airline posted a quarterly loss linked to the crash, Trans World Airlines Inc.'s chief executive announced his resignation. Jeffrey H. Erickson, who also is the airline's president, said he will step down in January. Earlier in the day, TWA posted a $14.3 million loss for the third quarter, a period that included the July 17 crash of Flight 800, which killed all 230 people aboard. ``I have decided that it is time for me to move on,'' he said in a statement. (AP) ValuJet completes return to full service
ValuJet Airlines has returned to the full service allowed by federal regulators after being grounded for more than three months. The discount carrier resumed flights Thursday between Atlanta and Chicago, Philadelphia, Raleigh-Durham, N.C., and Mobile, Ala., completing the third phase of its return to the skies. The Atlanta-based carrier now serves 17 cities with a fleet of 15 DC-9 jets. Before the Everglades crash, ValuJet served 26 cities with a fleet of 51 jets, but federal regulators scaled that back.(AP) VPSA bonds rated ``AA'' by Fitch service
A $132.64 million package of new Virginia Public School Authority bonds received a rating of AA, or ``high quality,'' from the debt-rating agency Fitch Investors Service. The school-financing bonds, which have maturities ranging from August 1997 to 2017, will be offered for bid Wednesday. (Staff) by CNB