DATE: Tuesday, June 17, 1997                TAG: 9706170281

SECTION: BUSINESS                PAGE: D2   EDITION: FINAL 

                                            LENGTH:   66 lines

LOCAL SCENE

VIRGINIA BEACH

BANK NAMES INDEPENDENCE ADVISORY BOARD: Princess Anne Bank has formed a community advisory board for the Independence area of Virginia Beach. W.K. Hammaker, branch manager of Pembroke Riedman Insurance, was named chairman of the advisory board.

BROCK ELECTED CHAIRMAN OF VIRGINIA BEACH FOUNDATION: Macon F. Brock, chief executive officer of Dollar Tree Stores, was elected chairman of the Virginia Beach Foundation, a community foundation serving nonprofits within a 60-mile radius of Virginia Beach.

CITY WINS INTERNATIONAL TOURISM MARKETING AWARD: The Travel and Tourism Research Association presented the city of Virginia Beach and its advertising agency, Barker Campbell Farley & Mansfield, with its J. Desmond Slattery Marketing Award during the organization's annual conference Monday at Norfolk Marriott Waterside Hotel. The city was recognized for the 1996 tourism campaign, ``The New Virginia Beach.'' Virginia Beach is now the first U.S. destination to win this award twice. The city also won for its marketing campaign in 1991.

INVESTMENT FIRM TO HOLD CONTINUING EDUCATION PROGRAM FOR CPAS AND ATTORNEYS: Catherine Beale, a local Edward Jones investment representative, will host the third program in the Professional Education Network's 1997 Broadcast series for accounting and legal professionals. The satellite broadcast ``Tax and Legal Issues Affecting the Older Client'' will be held from 2 to 5 p.m. June 25 at 4530 Professional Circle, Suite 1A. Enrollment fee is $50, which includes admission for one person and all course materials. For reservations, call 499-8380.

NORFOLK

NORFOLK FOUNDATION AWARDS GRANTS TO NONPROFIT GROUPS: The Norfolk Foundation has awarded $145,700 in grants to various nonprofit organizations. The Downtown Norfolk Council received the largest grant. The $65,000 grant will provide seed money to help revitalize the downtown portion of Granby Street. The grant will start the nonprofit Granby District Initiative, a partnership of the Downtown Norfolk Council, City of Norfolk and Norfolk Redevelopment & Housing Authority. Also, the Chesapeake Bay Foundation was awarded a grant of $20,700; the Contemporary Art Center of Virginia, $25,000; The Planning Council, $25,000 and the Virginia Ballet Theatre, $10,000.

NEWPORT NEWS

VALUJET ADDS FLIGHT: ValuJet Airlines will add an additional round-trip jet from Newport News-Williamsburg International Airport to Atlanta beginning July 10. The airline has been offering three daily round-trips from Newport News to Atlanta since October.

VIRGINIA

CIRCUIT CITY REPORTS SOFT EARNINGS: Consumer electronics retailer Circuit City Stores Inc. said Monday its first-quarter earnings dropped 24 percent because of weak personal computer sales late in the period. Earnings for the quarter ended May 31 were $12.7 million, or 13 cents a share, compared to $16.8 million, or 17 cents a share, in the same period a year ago. The Richmond, Va.-based company said the latest figures include a $948,000 loss related to CarMax Group, a retailer of used cars and light trucks that is 77.5 percent owned by Circuit City. The year-ago figures include $438,000 in earnings related to CarMax. Circuit City owned 100 percent of CarMax until the unit's initial public offering in February.

ILLUSTRATION: Photos

Hammaker

Brock

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