Reported by Star-Bulletin staff & wire
Tuesday, December 30, 1997
Holiday sales by check up 3.2% in Hawaii
Hawaii retailers saw a bigger surge in business than their mainland counterparts, according to one measure of holiday sales.The dollar volume of checks written by Hawaii residents from Nov. 28 through yesterday was up 3.2 percent over the comparable period last year, according to TeleCheck Services Inc., a check authorization company.
Nationally, check purchases rose 2.2 percent, the Houston-based company said today. TeleCheck said shoppers nationwide accelerated their spending during the final three days before Christmas.
Report: IBM makes disk-drive breakthrough
NEW YORK -- IBM plans to announce today that it has broken the magnetic disk-drive storage barrier of 10 billion bits of data a square inch, the New York Times reported.The new technology would first appear in products in 2001, the newspaper reported International Business Machines Corp. as saying.
The new technology will first be used in 2.5 inch, nonremovable disk drives intended for use in portable computers, the newspaper said. At that size, a single platter disk drive will be able to hold 6.5 gigabytes of data, making possible ultraslim laptop computers that will nevertheless have vast storage capacity. A 3.5-inch platter will hold 12 to 13 gigabytes.
Nike changes slogan from 'Just Do It' to 'I Can'
PORTLAND, Ore. -- "Just Do It" isn't doing it any more for Nike Inc., which is getting a new slogan on New Year's Day.The new phrase is: "I Can."
The company will continue to use the "Just Do it" slogan, but not as often, spokeswoman Kathryn Reith said today.
The change is a gamble for Nike Inc., whose advertising consistently ranks among the most effective in the nation. Sales momentum has waned. Fashion trends have moved away from athletic shoes to a more traditional casual look. And professional sports -- to which Nike is inextricably linked -- has been shaken by a series of criminal assaults, gambling scandals and cases of substance abuse.
Viacom's stock climbs on reports of unit sale
NEW YORK -- Viacom Inc. stock hit a 1-1/2-year high today after a report said the media and entertainment conglomerate is considering the sale of all or part of its Simon & Schuster book publishing unit.The Wall Street Journal said Viacom might sell or spin off Simon & Schuster, which analysts value at about $4 billion. A Viacom spokeswoman said she would not comment on speculation.
The Journal report, which cited people with knowledge of the company's plans, echoed an article last week in the New York Post. That report, citing unidentified sources, also said Viacom was exploring a joint venture for Simon & Schuster. Both reports said a deal was not imminent.
Viacom shares, which have climbed recently on speculation about Simon & Schuster and the success of the film "Titanic," rose $1.81 to close at $41.69 on the American Stock Exchange.