Honolulu Star-Bulletin Local News
Business Briefs

Reported by Star-Bulletin staff & wire

Friday, October 4, 1996

HEI takes a charge for American Savings

Like other savings and loan institutions across the country, American Savings Bank will report a one-time charge in the quarter ended Sept. 30 as it pays a federally required assessment to help fill the coffers of the Savings Association Insurance Fund.

The Hawaiian Electric Industries Inc. subsidiary said the debit will be $8.8 million, or 27 cents per HEI share. HEI said it earlier put $9 million into American Savings in anticipation of the requirement.


Isle retailers honor top owners, managers

The Retail Merchants of Hawaii named the Slipper House chairman Kiyoto Uejio and president Glenn Uejio as Retailers of the Year.

Elton Tanaka, district manager of Sears, Roebuck & Co., won the Retail Manager of the Year, in the group's annual dinner and Ho'okela Awards ceremony Wednesday. The ceremony was attended by 600 people.


Dole shares slip on earnings caution

Dole Food Co.'s stock declined $2.87 1/2 to $40.12 1/2 at noon today on the New York Stock Exchange after the company said its third-quarter earnings will be in line with the low end of analysts' estimates but better than last year.

Thomas Pernice, a spokesman for the Westlake Village, Calif.-based company, said analysts have suggested earnings ranging from 38 cents a share to 50 cents a share, for an average of 46 cents.

Last year, Dole reported a third-quarter profit of $14.3 million, or 24 cents a share, on revenues of $1.05 billion.


For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.



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