THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Tuesday, October 29, 1996 TAG: 9610290432
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 47 lines
Conrail Inc. has filed a motion to dismiss a Norfolk Southern lawsuit that would force Conrail's directors to consider Norfolk Southern's $9.1 billion bid to take over Conrail. Norfolk Southern is competing with rival CSX Corp. to buy Conrail. Conrail directors want to sell to Richmond-based CSX, but Norfolk Southern bid $1 billion more. ``In its motion to dismiss Norfolk Southern's actions, Conrail has once again shown no regard for the right of its shareholders to decide which offer they prefer,'' said Norfolk Southern spokesman Robert C. Fort. (Staff)
GM talks to resume; no strike imminent
United Auto Workers President Stephen Yokich said Monday that the union had no immediate plans for a strike against General Motors Corp. despite failing to reach an agreement during weekend negotiations. The union had set a midnight Sunday deadline for a deal, but agreed to continue negotiations today for a contract with the last of the Big Three automakers. While Yokich said he was committed to reaching an agreement at the bargaining table, he also left open the possibility that some UAW-GM locals could call strikes at individual plants. (Associated Press) MHI gets contracts on 2 Navy vessels
Marine Hydraulics International Inc. has won two contracts in recent weeks that give the small Norfolk shipyard a healthy backlog through the end of the year. The Navy awarded it a $2.9 million contract for ship alterations, upgrades and miscellaneous repairs on the guided-missile frigate Simpson. Work on the Simpson begins next week at MHI's yard in Norfolk's Berkley section. It also won a $667,600 contract for repairs on the helicopter amphibious assault ship Guam at the Norfolk Naval Base. MHI employs about 250 workers. (Staff) Japanese firm eyeing Hanover for brake plant
A Japanese firm is considering a site in northern Hanover County for a $100 million brake shoe pad manufacturing plant. Although county officials would not confirm it, negotiations have been under way for some time with the Nisshinbo Group to buy the 160-acre site of the Camptown Races and an adjoining 40-acre parcel for the plant. State officials declined to comment. The site is the subject of a rezoning initiated earlier in the week by the Hanover Board of Supervisors. The land use designation would change from agricultural to industrial. The company is also looking at two sites in Georgia. (Knight-Ridder/Tribune Business News) by CNB