Reported by Star-Bulletin staff & wire
Wednesday, March 18, 1998
Garuda Indonesia will suspend Hawaii flights
The Indonesian airline Garuda Indonesia will suspend its Indonesia-Honolulu-Los Angeles service for the months of April and May.Clayton Iseke, manager of the airline's Honolulu office, said a commercial decision was made at Garuda headquarters to suspend the service and resume it in June.
Garuda flies 300-passenger MD-11 aircraft three times a week in the service. The flights start in Jakarta and go direct to Los Angeles and return in a Los Angeles-Honolulu-Bali-Jakarta link.
Gov. tells businesses: Don't rely on government
LIHUE -- Hawaii needs to stop depending on government "when times get rough," Gov. Ben Cayetano told a group of Kauai business leaders."We don't think about competing globally. We're too provincial, too inward looking," Cayetano said yesterday at a gathering of Kauai's top 75 employers hosted by Inside Kauai magazine.
The governor stressed his administration's efforts to reduce government growth, streamline its operations and cut taxes.
He cited increasing interest by mainland retail, telecommunications and health industries as bright spots in Hawaii's economic future.
Hawaiian Airlines named marketer of year
Hawaiian Airlines Inc. will be honored at a luncheon April 16 as the 1997 Marketer of the Year for Hawaii.The Honolulu chapter of the American Marketing Association said it chose Hawaiian because of its financial turnaround and its achievement of a significant market share in the mainland-Hawaii airline business.
For more information about the $42 per person luncheon at the Hilton Hawaiian Village, call Gail Caveney of the American Marketing Association at 262-6719.
Takeover rumors boost Merrill Lynch shares
NEW YORK -- Merrill Lynch & Co. shares surged as much as 6.5 percent on speculation that Chase Manhattan Corp., the nation's largest bank, would make a takeover bid for the biggest U.S. securities firm, traders said.Merrill shares rose as high as $84.933/4 on heavy volume after CNBC reported that Chase may buy Merrill for $100 a share.
"It would be a conquest for Chase," said John Keefe, an independent securities analyst, who said he doesn't believe the takeover will happen. "But Merrill doesn't get much out of it."
The speculation comes amid a wave of mergers in the securities industry.
A Merrill spokesman declined to comment, and Chase officials also declined to comment.