Reported by Star-Bulletin staff & wire
Thursday, July 16, 1998
Maritime authority made possible by law
Gov. Ben Cayetano today signed into law a measure that opens the way for creation of a state authority to oversee the development of Hawaii's $2.5 billion maritime industry.The measure creates a temporary commission that will make recommendations to next year's Legislature toward the creation of a permanent state Maritime Authority. It also will recommend how the new agency will take over the overlapping jurisdictions and sometimes conflicting roles of state agencies now involved in waterfront activities.
Hawaii tourism board candidates nominated
The group representing a broad cross-section of the tourist industry has sent Gov. Ben Cayetano its list of 30 favorite candidates for appointment to the new Hawaii Tourism Authority board, created by a law Cayetano signed last week.The Visitor Industry Coalition said it sifted through more than 50 names before picking its nominees. The authority board, which will direct the tourist industry in the years to come, will have 13 members, 11 of them voting and two nonvoting. Cayetano will choose 10 of the nonvoting members, two each from lists submitted by the House speaker and Senate president and the rest from the community.
Microsoft scores solid 28% gain in quarter
REDMOND, Wash. -- Microsoft Corp.'s fiscal fourth-quarter profit rose 28 percent, beating forecasts, as the top personal-computer software maker turned in strong sales of its Office and Windows NT programs and got a lift from its new Windows 98.Earnings climbed 28 percent to $1.36 billion, or 50 cents a diluted share, from $1.06 billion, or 40 cents, a year earlier, Bloomberg News reported. Analysts expected a profit of 48 cents for the quarter ended June 30, according to First Call Corp. Sales rose 26 percent to 4 billion from $3.18 billion."This was a solid quarter," said Andrew Brosseau, an analyst at SG Cowen & Co. "The drivers were the desktop," he said, referring to Office and Windows software.
30-year mortgage rates rise to 6.94 percent
WASHINGTON -- The average rate on a 30-year fixed-rate mortgage increased to 6.94 percent in this week, from last week's 6.91 percent, according to a weekly survey of mortgage rates from Freddie Mac. The latest report also showed that the average rate on an adjustable mortgage rose to 5.64 percent this week, up from 5.60 percent; the 15-year mortgage rate was unchanged at 6.60 percent.
See expanded coverage in today's Honolulu Star-Bulletin.
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