Reported by Star-Bulletin staff & wire
Tuesday, January 13, 1998
AIG Hawaii opens office in Royal Kunia Wal-Mart
AIG Hawaii Insurance Co. has opened a satellite office in the Royal Kunia Wal-Mart store to sell and service automobile insurance policies. The office also will help customers with homeowner and other types of policies.Robin Campaniano, AIG Hawaii president and chief executive officer, said the company plans to open offices in more Hawaii Wal-Mart stores. The Kunia office is open from 11 a.m. to 7 p.m. any day the Wal-Mart store is open.
Group to honor four Hawaii business leaders
Junior Achievement of Hawaii will honor four business leaders in its Hawaii Business Hall of Fame, recognizing their efforts to move Hawaii society in a "better and stronger direction."This year's honorees are Karen T. Nakamura, president, Wallpaper Hawaii Ltd.; Robert J. Pfeiffer, chairman emeritus, Alexander & Baldwin Inc.; Tony Taniguchi, founder of KTA Superstores (awarded posthumously); and Andre S. Tatibouet, chairman, Aston Hotels International.
The four will be honored at a luncheon Feb. 4 at the Hilton Hawaiian Village. Junior Achievement promotes economic education for students. For information about the luncheon, which costs $60 per person, call 524-2211.
Asian economic woes hurt Motorola earnings
SCHAUMBURG, Ill. - Motorola Inc. said fourth-quarter profit before charges rose 10 percent, less than analysts expected, amid declining pager sales and slowing orders of its cellular phone products and services in Asia.The world's largest maker of cellular phones said profit before charges rose to $393 million, or 65 cents a share, from $357 million, or 59 cents, in the year-earlier period. Sales rose 7.7 percent to $8.28 billion, Bloomberg News reported.
Motorola was expected to earn 68 cents a share, the average estimate of 28 analysts by First Call Corp.
Deteriorating economic conditions in Asian markets slowed the growth of sales, orders and profits, the company said. That's worrisome because strong growth rates in Asia had fueled sales in recent years and many technology companies had been relying on the region for future gains.
U.S. Office spinning off 4 units to shareholders
WASHINGTON - U.S. Office Products Co. said today it will spin off four units to shareholders, buy back up to $1 billion of its stock and sell a $270 million stake to a private equity firm.The company said it is attempting to increase shareholder value by spinning off operations that get little notice under the banner of U.S. Office Products. It will spin off its corporate travel services, education, print management and technology solutions divisions into four publicly traded companies.