The Federal Aviation Administration Tuesday gave one of its top safety awards to the Piedmont Triad Airport Authority for building a $2.4 million road paid for primarily with FAA grants.
The road, about five miles long, circles the airport interior and services most of the airport's major facilities. It was built last year as a way of keeping auto and truck traffic off the runways and taxiways.FAA Regional Administrator Garland Castleberry said the Triad airport is the first in his Southeastern region to receive the annual Airport Safety Award.
Castleberry said the Triad airport, like other major airports, had begun having problems with vehicular traffic crossing runways and taxiways.
``Without a doubt, construction of this service road has eliminated an extremely dangerous situation, one which was getting worse each year,' Castleberry said. ``Fuel trucks, tugs, service vehicles, delivery trucks and automobiles now have a defined roadway of their own.'
Because the road was eligible for federal funds, the airport authority has received FAA grants totaling $1.6 million and will seek additional grants to cover 90 percent of the costs.
The American Society for Quality Control's central North Carolina section will hold an all day users forum from 8:30 a.m. to 4:30 p.m. Friday at the Airport Holiday Inn off Interstate 40. For more information call DuWayne Carlson at 292-7252. Participants can register at the door. There is a $100 registration fee, which includes lunch.
Triad Bank said it had a loss of $643,015 or 72 cents a share for the year ending Dec. 31. Triad President Ralph Bowden said the loss was the result of financial failure of a major borrower in Winston-Salem and a decision to charge off all loans considered as probable losses. ``With strong liquidity and reserve positions, management expects to resume a normal earnings pattern during 1990,' he said. Despite the loss, Triad continues to have a strong capital-to-asset ratio of 7.3 percent, Bowden said.
Gate City Federal Savings and Loan has reported net 1989 income of $2.5 million, down from $4 million the year before. The thrift said it has increased its net worth to 8.1 percent, a figure that it said substantially exceeds all federal capital requirements.
BellSouth Corp. reported net income of $1.74 billion, or $3.64 per share, compared with net income of $1.67 billion, or $3.51 per share in 1988. Operating revenues in 1989 were $14 billion, compared to $13.6 billion in 1988. Net income for the fourth quarter of 1989 was $469 million, up $49.7 million from the comparable quarter in 1988. Fourth-quarter earnings per share were 97 cents, compared to 90 cents in the same quarter in 1988. Fourth-quarter operating revenues totaled $3.6 billion in 1989, up $38 million from the fourth quarter of 1988.
General Electric Co. said Tuesday that its profit rose 15.8 percent in the fourth quarter and 16.2 percent for the year. In the quarter, the company earned $1.17 billion, or $1.30 a share, compared with $1.01 billion, or $1.12 a share, in the period a year earlier. Revenues for the quarter totaled $16.2 billion, up 5 percent from $15.5 billion.
For the year, GE earned $3.94 billion, or $4.36 a share, compared with $3.39 billion, or $3.75 a share, in 1988. Revenues for the year rose 9 percent to $54.6 billion from $50.1 billion.
Baxley Enterprises, owned by Ken and Teresa Baxley, have acquired Neat Feet, a Greensboro children's shoe store at 425-B W. Meadowview Drive.
Alexander Motors of Greensboro has acquired Sun Master Awning and Canvas Works, a High Point firm specializing in fabrication of awnings and frames . Relocations
American Industrial Contractors has relocated its office and manufacturing operations to the Century Park Properties Industrial Center, 518 Corliss St., Greensboro.
Paul A. Albertson Jr, vice president and general production manager of Thomasville Furniture Industries, has been named to First Citizen Bank's local board of directors in Thomasville.
Kevin E. Herron, previously an account vice president in the firm's McLean, Va., office, has been named vice president and manager of PaineWebber's Greensboro office.
Guilford Mills has named Jeff Enfield director of materials management for the company's Warp Knit Apparel and Home Furnishings Business Unit.
James Stonick has been named president of HAG Inc., Greensboro manufacturer of task chairs.