Reported by Star-Bulletin staff & wire
Tuesday, February 17, 1998
Isle travel agents fight Bankoh's coupon sales
The Hawaii Chapter of the American Society of Travel Agents has complained to the state Department of Commerce and Consumer Affairs, questioning the legality of Bank of Hawaii's proposed sales of Hawaiian Airlines' coupons via automated teller machines.An ASTA spokeswoman said travel agents are concerned because they are already struggling in the face of a poor economy and commission cuts by airlines.
The bank, which plans to start coupon sales via ATMs on March 1, said it will not be selling tickets or reservations, only coupons that must be converted before travel. A spokeswoman said Bank of Hawaii has determined that such sales are legal and the bank will be acting only as a payment facilitator for the airline, not as a travel agent.
Hawaiian Air flew fewer passengers last month
Hawaiian Airlines Inc.'s passenger traffic slipped last month from its level of January 1997. The airline today reported a 2.9 percent decline in the number of passengers carried systemwide, 400,120 last month compared with 412,216 in the year-earlier month.Revenue passenger miles also were down 2.9 percent, 311.8 million last month compared with 321.2 million in January 1997. A revenue passenger mile equals one passenger carried one mile.
Cargo business was up 0.5 percent at 4.25 million ton miles from 4.23 million ton miles.
Auto parts maker SPX gunning for rival Echlin
MUSKEGON, Mich. -- Auto parts maker SPX Corp. today announced a $2.9 billion hostile takeover bid for larger rival Echlin Inc. after being repeatedly rebuffed in attempts to negotiate a deal.Echlin shares soared 28 percent, exceeding SPX's offering price, on the New York Stock Exchange today. SPX shares dropped about 1 percent.
Muskegon-based SPX also said it will seek a special meeting of Echlin shareholders to remove the company's board of directors and replace it with supporters of the SPX takeover. A merger would mean 3,000 job cuts at Branford, Conn.-based Echlin, or 10 percent of its work force, SPX said.
Gates frees up schedule to appear before Senate
WASHINGTON -- Microsoft Corp. Chairman Bill Gates, whose company is battling the Justice Department over antitrust allegations, will testify before the Senate Judiciary Committee on March 3, officials said."Bill has rearranged his schedule so that he is able to participate in the hearing," said company spokesman Mark Murray. Senate Judiciary Committee Chairman Orrin Hatch invited Gates to testify before the panel about competition and the Internet.