Reported by Star-Bulletin staff & wire
Monday, July 6, 1998
State offers more help for recycling businesses
Business owners and operators can now get one-on-one consultation and expert advice on how to gain from recycling, under an expanded state program.The state's Clean Hawaii Center is offering businesses help in such areas as developing new products, strategic planning, marketing recycled products in Hawaii and elsewhere, and the use of information technology.
Over the past two years, the center has provided $250,000 to help develop new products from recycled materials, expand the capacity of businesses and create jobs. There is another $150,000 available for qualified applicants, according to the state Department of Business, Economic Development & Tourism, which runs the center. For more information contact the Center at 587-2778.
Longs Drug buys chains in Pacific Northwest
Longs Drug Stores Corp. said today it has signed a definitive agreement to buy a chain of drug stores in the Pacific Northwest.Longs, which has stores in California, Hawaii, Nevada and Colorado, will gain 18 stores in Western Washington and two in Oregon with the purchase of Western Drug Distributors Inc., owner of the Drug Emporium chain. The purchase price was not disclosed.
Walnut Creek, Calif.-based Longs has 32 stores in Hawaii.
Lycos Inc. announces 2-for-1 stock split
NEW YORK -- The stock of online service provider Lycos Inc. rose 25 percent after the company said it will split its shares 2-for-1.After the split, Lycos will have about 38 million shares outstanding. The new shares will be payable to shareholders of record as of Aug. 14. Lycos, based in Waltham, Mass., lost $2.4 million, excluding extraordinary items, on revenue of $15.1 million in the quarter ended April 30.
Hashimoto backtracks on permanent tax cut
TOKYO -- Top government officials, including the Japanese prime minister, appear to have backed off earlier indications that the government was planning a permanent income tax cut.Speaking yesterday on national television, Prime Minister Ryutaro Hashimoto said that while his government would debate permanent reforms to Japan's income tax system, it was not certain there would be any net reduction in taxes. "I don't think the result of the debate will be a tax rise . . . but it's possible the result will be neutral" in terms of the tax burden, he said.
The comments came one week before upper house elections for Parliament and days after Hashimoto said he hoped Japan would have "not temporary tax cuts, but so-called permanent tax reforms."
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