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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 28, 2001
Page
3
The Federal Reserve began cutting rates on January and immediately lowered the prime lending rate by a quarter point to 6.75 percent, the lowest in seven years. Analysts view the move as a compromise between preventing a recession and avoiding higher future inflation, noting the Fed gave no explicit rationale for choosing a quarter-point over a half-point cut.
Bluefield Regional Medical Center reports nearly 2.9 million in revenues through May, a 4.8 million year over year gain, with admissions up almost 10 percent. The BRMC board approved ER salary boosts, CRNA benefit increases, and a 625,000 paving project ahead of winter.
Rep. Boucher argues a new energy bill offers a 10 percent tax credit to utilities building coal fired plants with Clean Air Act ready technology. He says 1,900 plants may be built in 20 years as energy demand grows 35 percent by 2021. A July 2 meeting in Abingdon will discuss coal plant plans with TVA and utility firms.
Local officials meet in Charleston to push the I-73 corridor from Detroit to Charleston. Mitchem says NC and VA planning continues while Michigan and Ohio delay environmental steps. Maps will be shown at fairs, including McDowell County. few houses in Mercer County may be affected. routing follows Indian Ridge to Crumpler. King Coal Highway will eventually connect with the Coalfields Expressway near Welch.
Cedar Bluff officials press ahead with a metes and bounds boundary adjustment after the May 15 2001 county vote, stating no discussion with Richlands is needed. The town inks a mapping contract with Draper Aden Associates at a substantial cost, while Richlands provides services to the disputed area.
Prices continue to drop with Virginia anchors such as Food City Bluefield and Green Valley KO noting regular unleaded near 1.25 to 1.37. National average last year was 1.659 with 36.6 million expected to travel this Fourth of July, 31.8 million by car. Local managers report prices down and staying low, aiding travel decisions.
A store spokesman said business surged after prices fell to 1249 dollars with strong sales while smaller outlets remained higher.
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