Reported by Star-Bulletin staff & wire
Tuesday, May 27, 1997
Six of the top 10 golf resorts in the United States are in Hawaii and one of them, the Lodge at Koele, Lanai, is number one, according to a survey of 6,000 readers of Conde Nast Traveler magazine. The magazine's June issue, which details the survey results, shows 12 Hawaii resorts in its top 50. Lodge at Koele wins
travel magazine honorThe others, with rankings, are: The Orchid at Mauna Lani, 2; Manele Bay Hotel, 4; Mauna Lani Bay Hotel and Bungalows, 6; Ritz-Carlton Kapalua, 8; Mauna Kea Beach Hotel, 9; Four Seasons Resort Maui, 11; Grand Wailea Resort, Hotel & Spa, 14; Princeville Resort, 19; Maui Prince Hotel/Makena Resort, 27; Kapalua Bay Hotel, 28; and Hyatt Regency Kauai Resort and Spa, 31.
TOKYO -- Video-game maker Sega Enterprises Ltd. withdrew a $1 billion offer to buy Bandai Co., the world's third-largest toymaker, saying Bandai's employees opposed the merger. Sega withdraws offer
for toymaker BandaiThe decision ended five months of wrangling over a marriage proposal that investors and analysts judged a mismatch from early on because of differences in corporate culture and strategy.
The two companies said they will settle for a business alliance that links Sega's strength in video games like "Sonic the Hedgehog" with Bandai hit products such as the "tamagotch" virtual pet chicken.
TOKYO -- Japan's leading electronics makers unveiled lackluster annual earnings today as freefalling prices for computer memory chips cut sharply into their group profits. Japan computer firms
post lower earningsBut Toshiba Corp., Fujitsu Ltd. and Mitsubishi Electric Corp. all forecast an upturn in profits for the current business year, predicting that rapid growth in network computing and steady sales of personal computers will put their earnings back on track.
Stable chip prices will also help to support their bottom line, the companies said.
Mitsubishi posted profits of 8.5 billion yen ($73.2 million) in the year ended March 31, down sharply from 59.2 billion yen ($510 million) a year earlier.
Fujitsu group net profits fell 26.9 percent to 46.1 billion yen, while Toshiba posted group earnings of 67.08 billion yen ($578 million) in 1996/97, down 26 percent from a year earlier.
ATLANTA -- Coca-Cola Enterprises today announced an agreement in principle to purchase Coca-Cola Co.'s 48 percent ownership in Coca-Cola Beverages Ltd. of Canada and its 49 percent interest in Coca-Cola Bottling Co. of New York Inc. Coca-Cola Enterprises'
bottling empire growsOnce completed, the entire deal -- purchase price and acquired debt -- involving both companies will be approximately $1.66 billion, Coca-Cola Enterprises said.
Coca-Cola Enterprises agreed to pay the Canadian company $12.25 per share for the 19.6 million shares owned by the parent company.
It also intends to offer $14 per share for the remaining 52 percent held by the public.
Coca-Cola Enterprises, the world's largest soft-drink bottler, is 44 percent owned by Coca Cola Co. It first purchased 4 percent of the shares in the New York bottling company in 1994.