Reported by Star-Bulletin staff & wire
Friday, February 7, 1997
Reported by Star-Bulletin staff & wire
Friday, February 7, 1997
Fletcher Pacific Construction has started to build the $8 million foundation for the three- Fletcher Pacific starts work
on Neiman Marcusstory, 160,000-square-foot Neiman Marcus department store at Ala Moana Center.
For the foundation contract, Fletcher is working for the center's owners, D/E Hawaii Joint Venture and the center manager, General Growth Management of Hawaii. Dallas-based Neiman-Marcus Group Inc. also chose Fletcher to build the store, which will be on the makai side of the center.
The schedule calls for the store to be open in time for the Christmas 1998 shopping season.
NEW YORK - Twelve major U.S. carriers, including Hawaiian Airlines, have agreed to lift the limit, on compensation for people killed or injured on international flights. Hawaiian, 11 airlines lift cap
on liability awardsToday's action, filed with the Department of Transportation, increases the maximum amount, to $139,000 from $75,000, that airlines can be required to pay to U.S. passengers who are injured or the families of those who die in airline accidents on international flights when the carrier isn't negligent.
The previous limit was $75,000 unless the victims could prove that the airline was guilty of willful misconduct leading to the accident. That led to costly legal battles for the victims and the airlines.
Aviation trade groups and government officials had been working for decades to update the restriction, which was set in 1929.
NEW YORK - America Online Inc. stock dropped sharply today after the company reported a $154.8 million loss that was largely the result of steep marketing costs and refunds to disgruntled customers. AOL's stock sinks
on report of big lossThe loss in the latest quarter was slightly worse than analysts' expectations, disappointing some investors even though AOL announced new steps to improve service amid widespread complaints from customers about busy signals.
On the New York Stock Exchange today, AOL's stock fell $2.12-1/2 a share to close at $36. It was the first trading since the financial results were released late yesterday.
AOL said it is spending $10 million to $15 million this quarter to lease 50,000 modems to speed online access - in addition to the $350 million it already has earmarked for upgrading its network. The company also disclosed yesterday that it was spending $24 million in refunds to compensate frustrated customers.
