Reported by Star-Bulletin staff & wire
Wednesday, February 5, 1997
Reported by Star-Bulletin staff & wire
Wednesday, February 5, 1997
Gov. Ben Cayetano has selected former state Sen. Rey Graulty as Hawaii's insurance commissioner. Cayetano picks Graulty
as insurance commissionerGraulty, who lost his senate seat in the November elections to political newcomer Norman Sakamoto, will replace former Insurance Commissioner Wayne Metcalf. Cayetano chose Metcalf to replace retiring Big Island Sen. Richard Matsuura, who has cancer. Graulty, 48, will assume the insurance commissioner's post on Feb. 12.
As a state lawmaker, Graulty served as chairman of the Senate Judiciary and the Human Services committees. As Judiciary chair, he played a key role in last year's heated debate over the controversial same-sex marriage issue.
Group 70 International Inc. will provide design consultation services for a convention center in Bandung, Indonesia. Group 70 to work
on Indonesian centerThe Honolulu-based architectural and design firm will work with the Indonesian architectural firm, Rekamatra. "This is a door-opening opportunity for us in Indonesia," said Sheryl B. Seaman, president of Group 70 International.
The 50,000-square-foot center will be located on a government mall patterned after the Washington D.C. mall. The Bandung development also will include a 300-room hotel, two restaurants, a pub, sidewalk cafe and retail space.
The Chamber of Commerce of Hawaii's president is urging state lawmakers to approve $20 million in emergency funds to market the state as a tourist destination. Hong: Double funds for
tourism marketingCiting a drop in tourism, Stanley Hong said in a news release yesterday that the Senate should double the amount of money in an emergency appropriation. Hong testified last week before the Senate Committee on Economic Development in support of a bill that would authorize $10 million for marketing by the Hawaii Visitors and Convention Bureau.
"While the Chamber of Commerce of Hawaii has supported the emergency appropriations bill as drafted, in these economic times we need to make a greater impact in attracting more visitors to the islands. And the quickest way to accomplish this is by investing more money into the worldwide marketing of Hawaii," Hong said in yesterday's news release.
WASHINGTON - The Federal Reserve decided today to hold interest rates steady for now with inflation still under control despite signs that wages are picking up. Federal Reserve
leaves interest rates unchangedThe central bank's decision, disclosed after a two-day meeting in Washington, had been widely expected. It left the federal funds rate that commercial banks charge each other for overnight loans unchanged at 5.25 percent and the discount rate that the Fed charges banks for money at 5 percent.
WASHINGTON - A Senate committee quickly approved a bill today to reinstate taxes on commercial airline tickets and fix a $1.2 billion accounting error to avoid a crisis in a fund for airport improvements. Senate panel OKs bill
to reinstate ticket taxIn a unanimous vote, the Finance Committee agreed to reinstate the taxes through Sept. 30.
The bill will revive a 10 percent tax on commercial airline tickets, a $6-per-ticket tax on international departures, a 6.25 percent tax on domestic air cargo and excise charges on noncommercial aviation fuel. These taxes flow into the Airport and Airway Trust Fund, which finances airport modernization. These taxes lapsed in January 1996 following the budget battle between President Clinton and the Republican Congress. They were reinstated from Aug. 27 through Dec. 31, when they lapsed again.
The accounting error and expiration of the taxes threaten to shut down airport improvement projects, such as replacement of old radar systems, if Congress fails to quickly act on the legislation, a top Treasury Department official said.
