Reported by Star-Bulletin staff & wire
Monday, August 24, 1998
Island Air to expand with two Kona flights
Island Air next month will begin daily direct service between Kona and Lanai and between Kona and Kapalua, West Maui.Starting Sept. 20, the routes will be serviced with 37-passenger de-Havilland Dash-8-100 aircraft. Neil Takekawa, president of the Aloha Airlines' affiliate, said the company is broadening its network to give residents and visitors more access to the "hidden Hawaii."
Island Air and Aloha Airlines are owned by privately held Aloha AirGroup Inc.
Business-aid group seeks isle volunteers
A volunteer organization that taps the expertise of retired business people to help new and growing small businesses has launched a statewide drive to recruit more volunteers.SCORE, the Service Corps of Retired Executives, operates with the support of the federal Small Business Administration. Jane Sawyer, SBA assistant director, said executives who are active in business but can spare some time to help others also are welcome to volunteer. For more information contact the SBA business information counseling center at 522-8130 or Sawyer at 541-2973.
Outrigger to manage historic Fiji hotel
Outrigger Hotels & Resorts has been selected to manage the historic Grand Pacific Hotel in Fiji. Opened in 1914, the hotel was the social and business center in Fiji's capital of Suva for decades. It 's been closed since 1992.The business is now owned by a joint venture of Nauru Phosphate Royalties Trust, which bought the hotel in 1988; Pacific Star Co., also of Nauru; and a group of U.S. investors called Pacific Hotel Partners. They said the hotel will undergo extensive renovations and open for business late next year. When it reopens, the hotel will have 136 rooms. Hawaii-based Outrigger, which has been expanding in the Pacific in recent years, will provide technical support during the renovations.
Northrop plans to drop another 2,100 jobs
LOS ANGELES -- Northrop Grumman Corp. said it will cut an additional 2,100 jobs by the end of the year 2000 as part of its plan to reduce annual operating costs by $300 million beginning in 2001.Los Angeles-based Northrop, the fourth-largest U.S. defense contractor, expects to take a charge of about $60 million this year for the job cuts as well as for realigning operating units and consolidating facilities, Bloomberg News reported. The job cuts come on top of 8,400 that were already planned by Northrop through the end of 2000 as the B-2 stealth bomber program winds down.
In other news . . .
WASHINGTON -- Merrill Lynch & Co. agreed today to pay $2 million to settle federal regulators' allegations of negligence arising from the 1994 bankruptcy of Orange County, Calif. Merrill, the nation's largest brokerage firm, neither admitted nor denied wrongdoing in the settlement with the Securities and Exchange Commission. Orange County sought federal bankruptcy protection in December 1994 after losing $1.64 billion from its investment pool.
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