Reported by Star-Bulletin staff & wire
Thursday, June 4, 1998
Murata Creative hired to market Dole Cannery
Castle & Cooke Inc. has hired a Honolulu advertising firm to help market the struggling Dole Cannery retail center in Iwilei.Murata Creative Inc. was appointed to handle advertising and marketing for the 200,000-square-foot project, which has been hurt by tenant turnover and vacancies in a sluggish economy. Castle & Cooke earlier this year took over operations of the center from its developer, Horizon Group, and announced the 1999 openings of planned projects by Home Depot and Signature Theaters.
C&H union members ratify new contracts
Union members at California and Hawaiian Sugar Co.'s West Coast refinery have approved new five-year contracts.Members of Sugar Workers Union No. 1, AFL-CIO Seafarers International Union of North America and Local 6 of the International Longshore and Warehouse Union yesterday ratified the agreements.The previous contracts covering 376 union members at the Crockett, Calif., refinery expired May 31.
C&H is a subsidiary of A&B Hawaii Inc., one of two principal subsidiaries of Honolulu-based Alexander & Baldwin Inc.
30-year mortgage rates drop to 3-1/2-month low
WASHINGTON -- The average rate on 30-year, fixed-rate mortgages fell to a 31/2-month low of 7.05 percent this week, Freddie Mac, the mortgage company, said today. The decrease, from 7.07 percent last week, brought the average to the lowest level since mid-February.Fifteen-year mortgages fell to a 10-week low of 6.70 percent, from 6.72 percent last week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.68 percent, down from 5.70 percent last week.
French company buys DSC Communications
DALLAS -- European manufacturer Alcatel is acquiring a Texas-based telecommunications equipment maker, DSC Communications Corp., for about $4 billion in stock, the companies said today.The acquisition will expand the French company's presence in the U.S. telecommunications equipment market.
The announcement said Plano, Texas-based DSC's strong position in making telecommunications access and switching equipment will complement Alcatel's strength in transmission equipment.
Cleveland Indians stock hits the market today
CLEVELAND -- Shares of the Cleveland Indians were sold to the public for the first time today,giving fans of the baseball team a new statistic to watch: price swings.The sale made the Indians the first publicly traded Major League baseball team and raised $60 million for Richard Jacobs, the club owner. Four million shares of common stock in the Cleveland Indians Baseball Co. were priced at $15 a share. The stock, traded under the symbol CLEV, closed at $14.75 on the Nasdaq market.
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