Chevron to sell 2 refineriesChevron Corp., currently the...

BUSINESS DIGEST

May 28, 1993

Chevron to sell 2 refineries

Chevron Corp., currently the nation's largest oil refiner, said yesterday that it would sell two refineries accounting for about 25 percent of its capacity. The move is a strategy to free and raise capital for expansion overseas.

The company, based in San Francisco, is also pulling out of several markets in the Middle Atlantic -- including Maryland, the Southeast and Midwest, disposing of hundreds of gasoline stations.

Allstate reverses policy for Florida

Sears, Roebuck and Co.'s Allstate Insurance Co. reversed itself yesterday, saying it will suspend plans to reduce the number of Florida customers it will insure through the 1993 hurricane season.

The insurer said it will not fail to renew the policies of Florida customers due to hurricane exposure during the 1993 season, starting June 1.

Prime moving to Pratt Street

The Prime Group Inc., a Chicago-based development firm, will move its Baltimore office to the 100 E. Pratt St. tower owned by IBM Corp. and T. Rowe Price Associates Inc., a real estate broker said yesterday.

Prime has signed a lease for 22,130 square feet of space at the 28-story building, and will occupy the 19th floor and part of the 18th.

Consultant firm says Toyota best

Vehicles made by Japan's Toyota Motor Corp. are the best on U.S. roads today, an influential automotive consulting firm said yesterday.

J. D. Power and Associates said the Lexus nameplate ranked highest, followed by Toyota, Nissan's Infiniti, and with Honda's Acura luxury division and Ford's Lincoln tied for fourth place.

Jewish Times names editor

Michael Davis, editor of the Sun Magazine since 1991, will become editor of the Baltimore Jewish Times on June 7, the 20,000-circulation weekly newspaper said. Mr. Davis, 41, replaces longtime Jewish Times Editor Gary Rosenblatt, who will become editor and publisher of Jewish Week, a publication of the Jewish Community Federation of New York.

A native of Newport, R.I., Mr. Davis joined The Evening Sun in 1984 as executive sports editor and was later named assistant managing editor for sports and news and then editor of the features section.

Washington Homes dividend 5 cents

The board of Washington Homes Inc. declared an initial cash dividend on the company's common stock of 5 cents a share. The dividend is payable June 25 to stockholders of record on June 10. The dividend represents the first by the company since its public offering on Feb. 25, 1993.

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