Reported by Star-Bulletin staff & wire
Monday, March 17, 1997
Reported by Star-Bulletin staff & wire
Monday, March 17, 1997
Mauna Loa Macadamia Partners L.P. today announced a 50 percent increase it its quarterly distribution to shareholders. Mauna Loa Macadamia
hikes quarterly payoutMauna Loa, the world's largest grower of macadamia nuts, said it raised it quarterly payments to shareholders to 7.5 cents a unit, up from 5 cents previously.
The new distribution will be paid May 15 to shareholders of record on March 31.
Honolulu-based Mauna Loa, a partnership whose shares are traded publicly, owns or leases 4,027 acres of macadamia orchards on the Big Island.
SEATTLE -- Starbucks Coffee Co., a leading operator of specialty coffee stores, said it has raised prices to reflect the rise in worldwide coffee prices. Starbucks passing on
higher coffee pricesThe prices of most coffee beverages sold in its coffee shops rose 5 cents beginning Friday, while the price of whole beans rose 30 cents a pound, the company said.
"After carefully monitoring and evaluating coffee costs, we have made a decision to increase prices in order to reflect the higher cost of the green coffee we buy, roast and sell," Starbucks said in a statement. "We waited as long as we could to make this pricing decision, but coffee costs remained at a high level longer than expected."
Starbucks operates one store on Oahu, and plans to open two more on Oahu and Maui. All together more than 1,100 stores operate in North America, Japan, Singapore and Hawaii.
IRWINDALE, Calif. -- H.F. Ahmanson & Co. raised its hostile bid for rival thrift Great Western Financial Corp. to $6.66 billion, topping a friendly offer from Washington Mutual Inc. by $400 million, according to Bloomberg News. H.F. Ahmanson
raises hostile bid for thriftAhmanson said it would pay about $50 a share in its stock for each Great Western share, and the value of the offer would change based on the price Ahmanson stock. That compares with Washington Mutual's offer of about $45.34 a share, or $6.25 billion.
The higher bid, which was expected, is the latest volley in a fight for Chatsworth, Calif.-based Great Western that began when Irwindale, Calif.-based Ahmanson, the largest U.S. thrift, made its unsolicited offer on Feb. 17.
Great Western snubbed the offer from the start, criticizing Ahmanson's plans to fire thousands of employees and close 200 branches. Last week it signed a friendly merger agreement with Washington Mutual of Seattle.
NEW YORK -- Rockwell International Inc. plans to spin off its $3.1 billion automotive parts business to shareholders and concentrate on its semiconductor, automation and aviation businesses. Rockwell to spin off
auto parts divisionToday's move follows the December sale of Rockwell's aerospace and defense businesses to Boeing Co. for $3.2 billion and completes a transformation of Rockwell into an electronics business.
The automotive business, based in Troy, Mich., has about 16,000 employees worldwide.
LORAIN, Ohio -- Ford Motor Co. will stop building its Thunderbird and three other models in reaction to changing customer preferences, resulting in the elimination of as many as 2,500 jobs. Ford drops 4 models;
to eliminate 2,500 jobsFord said today that the T-Bird is expected to return in the future as a specialty sports coupe, drawing on the early years following its launch in 1954. The other models to be eliminated are the Mercury Cougar, the T-Bird's structural twin, and the Ford Probe and Aerostar.
WASHINGTON -- President Clinton today extended by two days the deadline for a mediator's report on the American Airlines labor dispute, hoping the extra time would lead to an agreement. Clinton extends
American Air deadlineA presidential emergency board, which had been scheduled to submit its recommendations for a settlement today, told Clinton the extension would "increase the likelihood of a successful outcome" in the talks between the airline and its pilots, White House spokesman Mike McCurry said.
The deadline was extended until Wednesday.
