Reported by Star-Bulletin staff & wire
Monday, November 16, 1998
ERS' Siu joins financial manager
Stanley Siu, former administrator of the state Employees Retirement System, has joined Hanson Investment Management Co., a San Rafael, Calif.-based financial management company that is opening a Honolulu office.Siu, 62, retired in September as head of the $7.8 billion retirement system.
Hanson Investment today said that Siu will be a vice president and service Hanson's clients in Hawaii and help to expand the company's presence in the Pacific. The company manages more than $1 billion for public retirement funds, corporate pension plans and other clients.
Hawaiian carries more passengers
Hawaiian Airlines Inc. carried 4.8 percent more passengers last month than it did in October 1997, 431,184 compared with 411,518.In its monthly traffic report, Hawaiian said it flew 367.3 million revenue passenger miles (one paying passenger carried one mile) in October, up 12.3 percent from 327.1 million in October 1997. However, the number of seats the airline made available increased 14.3 percent, reducing the average occupancy of its aircraft -- or passenger load factor -- to 76.5 percent from 77.9 percent in October 1997.
Report suggests rate cut likely
U.S. industrial production fell in October for the fourth drop in the last five months, giving Federal Reserve policymakers leeway to cut interest rates for a third time.Industrial production unexpectedly declined 0.1 percent last month, reflecting falling production at utilities and mines, and a small rebound from the previous month's drop in factory output, Fed figures showed today. In September, industrial production fell 0.5 percent.
The Fed's policymakers meet tomorrow and many analysts expect a third quarter-point reduction in the overnight bank lending rate in two months.
See expanded coverage in today's Honolulu Star-Bulletin.
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