Reported by Star-Bulletin staff & wire
Monday, April 21, 1997
Aston Hotels & Resorts will take over the management of the Poipu Kai Condominium Resort on Kauai on May 1. Aston to manage
Poipu Kai resortThe 110-acre resort in a beachfront garden setting has kitchen-equipped apartments ranging from one-bedroom units sleeping up to four at $160 a night to three-bedroom units sleeping up to eight for $360 a night.
The company said it has signed up about 50 of the more than 280 units in the resort to use as hotel accommodations and is negotiating for more. Aston also manages the nearby Embassy Vacation Resort, with some 210 units.
ST. LOUIS -- Trans World Airlines Inc.'s first-quarter loss widened because of higher maintenance and training costs and a decline in passenger traffic. TWA's quarterly loss
larger than expectedTWA reported a loss before charges of $70 million, or $1.51 a share, compared with a loss of $37.1 million, or $1.46, in the year-ago quarter.
The loss was greater than an average estimate of $1.06 a share from three analysts polled by IBES International. TWA shares rose 25 cents to $6.871/2 in afternoon trading.
Revenue fell 2.6 percent, to $762.3 million from $782.4 million. After a charge of $1.53 million, or 3 cents a share, TWA's final loss was $75.4 million, or 1.54 a share.
LONDON -- Cordiant Plc, the global advertising group that went through a stormy shakeup with the departure of founders Maurice and Charles Saatchi, said today it will split into three companies. Ad group Cordiant
to become 3 firmsThe ad agencies Saatchi & Saatchi and Bates Worldwide will operate independently with listings on both the London and New York stock markets. The third company, Zenith Media Worldwide, will be held 50-50 by Saatchi & Saatchi and Bates. Cordiant said the breakup will allow all of its various advertising offices and smaller subsidiaries, operating in 90 countries with some 10,400 employees, to become more efficient.
DALLAS -- Sterling Software Inc. has a definitive agreement to buy the Texas Instruments Software division of Texas Instruments Inc. for $165 million cash, the companies said today. The deal includes all Texas Instruments Software assets. In other news . . .