[GRAPHIC=News 7 Mornin']
Florida is bracing for double trouble, as two powerful storms close
Hurricane Charley is the strongest, but Tropical Storm Bonnie is the closest.
Aleen Sirgany is in Panama City with the latest.
(///// SOT /////)
[SUPER=03-Panama City, FL;:00]
[SUPER=01-George Cullen/Metereologist; :22]
[SUPER=01-Aleen Sirgany/CBS News; :31]
[SUPER=03-Key West, FL; :44]
[SUPER=01-Pam Nickel/Tourist; 1"05]
[OUT Q=Sirgany, CBS News, Panama City, FL.]
(nats...calm morning pics) LOCATOR: PANAMA CITY, FL
WITH A ONE-TWO TROPICAL PUNCH PROMISED FOR THE PANHANDLE.... THIS....
MAY BE THE CALM BEFORE THE STORM.
FORECASTERS SAY TROPICAL STORM BONNIE COULD REACH HURRICANE STRENGTH
BEFORE SLAMMING ASHORE LATER THIS MORNING. AT LEAST 12 HOURS BEHIND
HER -- IS HURRICANE CHARLEY...SPINNING ITS WAY NORTH.... ON PATH TO
STRIKE THE FLORIDA KEYS.
SOT - GEORGE CULLEN/METEOROLOGIST
"1:24:53 "If these two storms made landfall technically on the same day
in Florida - it's never happened in our lifetime - I mean it's been
almost 100 years."
HERE IN FLORIDA'S PANHANDLE -- THE WORRY ISN'T SO MUCH THE WIND... BUT
WATER. THE AREA ALREADY GOT POUNDED WITH 7 INCHES OF RAIN AND NOW
BONNIE COULD BRING A FOUR FOOT STORM SURGE.
BEACH FRONT HOME OWNERS ARE BOARDING UP....
EMERGENCY OPERATIONS ARE IN FULL GEAR ALONG GULF COAST COMMUNITIES TO
THE NORTH AND IN CITIES AS FAR SOUTH AS KEY WEST.
(nats...) LOCATOR: KEY WEST, FL
WITH HURRICANE CHARLEY STILL WELL OUT TO SEA... RESIDENTS AND TOURISTS
ARE PREPARING FOR A POSSIBLE RUN-IN WITH THE STORM.
OTHERS ARE CHOOSING TO GET OUT -- NOT WAIT IT OUT.
SOT - PAM NICKEL/TOURIST "It's gonna cut off a few days of our vacation
- we've had this planned since February, so it's kind of disappointing."
THE DOUBLE DOSE OF TROPICAL TROUBLE WILL SOAK MUCH MORE THAN THE
SUNSHINE STATE. FORECASTERS SAY THE WRATH OF BONNIE AND CHARLIE WILL
BE FELT UP AND DOWN THE EAST COAST FOR DAYS TO COME. ALEEN SIRGANY,
CBS NEWS, PANAMA CITY, FL.
Pakistani authorities say they've arrested five more suspected members of the al-Qaida network in the past 48 hours.
A government official says the arrests were made during raids in different parts of the country.
Detainees are being questioned.
Pakistani authorities have detained about 30 terror suspects in recent weeks.
Black smoke is hanging over the city of Najaf as the U-S military attacks insurgents.
This marks the beginning of a major offensive by thousands of American troops and Iraqi forces to wipe out the Shiite militant uprising.
Last Thursday, fighters loyal to radical cleric Muqtada al-Sadr broke a truce.
Al- Sadr has issued a statement telling his followers to fight on, even if he's killed.
Meanwhile, officials are trying to determine if a videotape is real that allegedly shows the beheading of a man identified as a C-I-A agent.
When you think of Virginia Tech, you often think of a university surrounded by a rural setting.
But those days are coming to an end.
Justin McLeod visited the campus and found a university experiencing a building boom.
(///// SOT /////)
[SUPER=01-Mark Owczarski/Virginia Tech Spokesperson; :11]
[OUT Q=JM, News 7]
((((NAT SOUND OF CONSTRUCTION AT LANE STADIUM))
By now you've probably heard about the Lane Stadium expansion, but did you know there are plenty of other construction projects currently underway at Virginia Tech?
[IN Q=We've got right now]
((MARK OWCZARSKI/VIRGINIA TECH SPOKESPERSON: WE'VE GOT RIGHT NOW ABOUT 160 MILLION DOLLARS WORTH OF CONSTRUCTION PROJECTS GOING ON CAMPUS.))
[OUT Q=GOING ON ON CAMPUS]
Some of those projects are geared towards student life.
Take the largest dining hall on campus which is undergoing a six million dollar renovation.
Then there's the new 21-thousand square foot career services building which just opened.
[IN Q=It's just a very]
((MARK OWCZARSKI/VIRGINIA TECH SPOKESPERSON: IT'S JUST A VERY IMPRESSIVE FACILITY. IT WILL BE GOOD FOR STUDENTS, FOR RECRUITERS AND THE UNIVERSITY AS A WHOLE.))
[OUT Q=as a whole]
((QUICK NAT SOUND OF CONSTRUCTION AT NEW AGRICULTURE BUILDING))
The university is also setting its sights on academics.
Work for example continues on the new Agriculture and Natural Resources Building.
Already completed is a new 21 million dollar bioinformatics facility.
[IN Q=Virginia Tech really]
((MARK OWCZARSKI/VIRGINIA TECH SPOKESPERSON: VIRGINIA TECH CONTINUES TO WORK VERY HARD AT BECOMING ONE OF THE NATION'S TOP RESEARCH FACILITIES AND THESE FACILITIES ARE ESSENTIAL TO MAKE THOSE GOALS HAPPEN.))
[OUT Q=goals happen]
Thinking about the future also means taking care of the past, mainly the alumni.
They'll soon be able to enjoy a new 43 million dollar alumni hall with a conference center and a hotel.
[IN Q=They are really]
((MARK OWCARSKI/VIRGINIA TECH SPOKESPERSON: THEY ARE REALLY GOING TO BE TREATED VERY WELL AT A FIRST CLASS HOTEL RIGHT HERE ON CAMPUS. IT'S GOING TO BE CONVENIENT TO EVERYTHING THEY WANT TO DO ON CAMPUS AND IN BLACKSBURG.))
[OUT Q=and in blacksburg]
But all this progress leads to inconveniences and Virginia Tech say it is only going to get worse when students return next week.
[IN Q=It will be a work]
((MARK OWCARSKI/VIRIGINA TECH SPOKESPERSON: IT WILL BE A WORK IN PROGRESS FOR A NUMBER OF YEARS TO COME.))
[OUT Q=YEARS TO COME]
((JUSTIN McLEOD/REPORTING: VIRGINIA TECH IS USING STATE MONEY AND GRANTS TO PAY FOR MOST OF THE PROJECTS. BUT WE SHOULD POINT OUT THE LANE STADIUM EXPANSION IS FUNDED ENTIRELY BY PRIVATE DONATIONS. JUSTIN McLEOD, NEWS 7.))))
Bassett Furniture has teamed up with John Elway to launch a new line of furniture this Fall.
Yesterday, the Hall of Famer headed to Times Square to promote the products that will carry his name.
[SUPER=03-New York, NY]
Fresh from his induction into the Pro Football Hall of Fame, Elway joined Bassett executives in New York to open trading on the NASDAQ Stock Market.
Bassett is producing a new line of home entertainment and reclining furniture that will be sold as the Elway Home Collection.
(///// SOT /////)
[IN Q=It has been quite the whirlwind]
((JOHN ELWAY: IT HAS BEEN QUITE THE WHIRLWIND THIS WEEK, THE HALL OF FAME AND NOW COMING HERE, BUT I'M EXCITED TO BE HERE . I'M EXCITED TO GETTING THIS LAUNCHED AND TAKING THE FURNITURE INDUSTRY BY STORM AND REALLY MAKING IT SOMETHING SPECIAL.))
[SUPER=01-John Elway/Hall of Fame Quarterback;]
[OUT Q=really making it something special.]
Bassett plans to unveil the Elway Home Collection this month in Las Vegas, and the new line will be on display at the October furniture market in High Point, North Carolina.
In other business news, many of the nation's retailers will release their earnings reports today.
Alexis Christoforous has that story and more in this morning's Marketwatch.
[SUPER=01-Alexis Christoforous/Reporting; :00]
[OUT Q=in New York, I'm AC.]
((IT'S A BIG DAY FOR THE NATION'S RETAILERS...
MANY OF THEM WILL SLATED TO POST EARNINGS TODAY... AMONG THE
HIGHLIGHTS.. REPORTS FROM WALMART, TARGET, KOHL'S, TIFFANYS AND URBAN
ON WALL STREET.. THE MARKET WAS PRESSURED BY A SELLOFF IN TECH STOCKS.
THE DOW DIPPED 6 POINTS
THE NASDAQ TUMBLED 26.
A disappointing outlook from Cisco Systems and a sales warning from
National Semiconductor LED THE TECH SELLOFF.
Crude-oil futures closed near $45 a barrel again as production risks in
Iraq, Venezuela, and Russia offset news that Saudi Arabia has more than
1 million barrels a day of spare output capacity.
TOYS R' US may sell its toy business and spin off its fast-growing
Babies R Us unit. THE TOY RETAILER SAYS BY separating the two
businesses, Babies R Us would be better able to thrive and build on its
core market of supplying bedding, furniture and clothes. Toys r' us is
facing stiff competition from other retailers including walmart.
News Corp. IS ON THE STOCKS TO WATCH LIST: the media company controlled
by Rupert Murdoch, said fiscal fourth-quarter profit rose NEARLY 8
percent. Advertising sales increased at its Fox broadcast network and
cable channels including FX.
FIND OUT MORE AT CBS.MW.COM IN NY I'M AC.))
(tape tosses to stocks)
[WOOD ROGERS SPONSOR BOARD 5185 ESSC]
In California, the state supreme court is expected to rule on same sex marriage today.
The case brought by the state and a christian legal organization say
the San Francisco's mayor exceeded his authority by allowing gay and lesbian couples to wed.
Legal experts expect the decision will go against San Francisco's
mayor, but it's not clear how that might effect thousands of same sex
couples who've already tied the knot.
Later this year, the California court will hear a separate case on the
constitutionality of state's marriage laws.
[GRAPHIC=Dan River Layoffs]
Hundreds more textile jobs are being cut in Southside.
Dan River Incorporated yesterday announced it's closing its finishing and sheet sewing plant in Danville by October.
A total of 375 people will be laid off, nearly all of them are workers in the Schoolfield Complex.
The cuts come just two months after D-R-I eliminated 300 workers in Danville.
(///// SOT /////)
[IN Q=Let me just]
((CALVIN BARNHARDT/DAN RIVER INC. HR DIRECTOR: LET ME JUST STATE THAT RIGHT NOW WE HAVE NO OTHER PLANS FOR ANY OTHER PLANT CLOSINGS OR ANY OTHER MASS LAYOFFS AS WE'VE EXPERIENCED BACK IN JUNE AND THAT WE'RE ANNOUNCING TODAY. THE NEXT THING WE'RE PLANNING TO ANNOUNCE IS WHAT WE HAVE ANNOUNCED ALL ALONG, OUR PLAN AS OF THE END OF THE YEAR, SOMETIME AROUND THE END OF THE YEAR, IS TO ANNOUNCE THAT WE HAVE SUCCESSFULLY EMERGED FROM BANKRUPTCY.))
[SUPER=01-Calvin Barnhardt/Human Resources Director]
[OUT Q=emerged from bankruptcy.]
Barnhardt says the company is still working on what kind of severance and benefits package the laid-off employees will receive.
Dozens of Bedford County residents who are concerned over their drinking water, may soon have some relief.
Earlier this year, officials tested residents' well water, after learning that an old CITY landfill was leaking contaminants into the ground.
Although officials say the problem was corrected, many were still worried.
Yesterday, the city conducted a SECOND round of testing to assure them the water is safe.
Officials say they are still looking into the idea of adding a new water line, even though they say it could take several months before that happens.
(Kim tosses to bump)
In business news, Stocks closed lower yesterday.
And, Netflix is about to get some competition from Blockbuster.
Stan Case has more in today's business brief.
(///// SOT /////)
[SUPER=01-Stan Case/Reporting; :]
[OUT Q=I'm Stan Case.]
((THE NASDAQ TUMBLED WEDNESDAY AND THE BROADER MARKET POSTED SMALLER LOSSES.
THE DOW INDUSTRIALS LOST SIX POINTS.
AND THE NASDAQ DROPPED 26.
TECH STOCKS WERE ESPECIALLY WEAK, HURT BY A DISAPPOINTING OUTLOOK FROM CISCO SYSTEMS.
THE PRICE OF OIL HELD NEAR RECORD HIGHS.
NEWS FROM SAUDIA ARABIA THAT IT COULD PUMP AN EXTRA ONE-POINT-THREE MILLION BARRELS A DAY IF NEEDED WAS OFFSET BY CONCERNS ABOUT IRAQ AND RUSSIAN EXPORTS AND AN UNEXPECTEDLY HEAVY DROP IN WEEKLY U-S OIL INVENTORIES.
A NEW PENTAGON AUDIT HAS CRITICIZED HALLIBURTON'S ACCOUNTING FOR BILLIONS OF DOLLARS OF WORK IN IRAQ. NOW, THE PENTAGON IS THREATENING TO WITHHOLD ABOUT $600 MILLION IN PAYMENTS TO THE COMPANY, BEGINNING SUNDAY.
HALLIBURTON'S ACCOUNTING SYSTEM HAS BEEN DISPUTED BY PENTAGON AUDITORS FOR THE PAST 18 MONTHS BUT THE COMPANY HAS SO FAR AVOIDED ANY WITHHELD PAYMENTS FOR WORK DONE IN IRAQ
HALLIBURTON SAYS THE PROBLEM HAS TO DO WITH HOW THE COMPANY PRODUCES COST ESTIMATES.
BLOCKBUSTER IS SET TO BEGIN OFFERING CUSTOMERS DVD'S DELIVERED TO THEIR HOME BY MAIL, USING THE BUSINESS MODEL PIONEERED BY NETFLIX.
FOR NINETEEN DOLLARS AND 99-CENTS A MONTH, SUBSCRIBERS CAN GET UNLIMITED RENTALS, WITH UP TO THREE OUT AT A TIME AND NO RETURN DATES OR LATE CHARGES. THAT'S $2 LESS THAN NETFLIX.
WITH THE BUSINESS BRIEF... I'M STAN CASE.))
[TAPE TOSS TO STOCKS]
[WOOD ROGERS SPONSOR BOARD 5185 ESSC]
[TAPE#=04-27 TC 54:50]
Pulaski's new business park is about to get busy.
An engineering firm and construction company is about to ink a deal to start building offices on the more than 180 acre park.
As part of the deal the companies will also build an access road and extend water and sewer service into the site.
Officials say a lot of companies have been touring the land lately.
The town hopes first tenants up and running by next summer.
[TAPE#=04-26 TC 1:18:08]
The town of Vinton is looking toward the future...
Town officials recently released its comprehensive plan which looks into the town growth for the next 20-years.
Among the projects outlined in the plan are new street lights, hanging baskets and refurbishment of old downtown buildings.
Farther down the line- town officials would like to see a new town center off of Hardy Road.
(///// SOT /////)
[IN Q=That's a very busy...]
((BRAD GROSE, VINTON MAYOR: THAT'S A VERY BUSY PART OF TOWN. I THINK THERE'S UPWARDS OF 24-THOUSAND CARS A DAY THAT PASS THERE, SO THE GOAL IS TO STOP SOEM OF THAT TRAFFIC WITH SOME RETAIL SHOPS.))
[SUPER=01-Brad Grose/Vinton Mayor]
[OUT Q=... some retail shops.]
While exterior refurbishments could take place within the next year, the town center and street lamps will take more time and money to accomplish.
A public hearing on Vinton's comprehensive plan will take place on September 7th at seven o'clock.