Business Briefs

Reported by Star-Bulletin staff & wire

Monday, January 11, 1999

Investor buys more of Castle & Cooke

A New York investment group now owns 7.75 percent of the shares of Castle & Cooke Inc., the Los Angeles-based home builder that is one of Hawaii's largest landowners.

Tweedy, Browne & Co. raised its holdings from 3.99 percent by buying shares between Nov. 3 and Jan. 4 for prices ranging from $14 to $16 each, according to a disclosure filed at the Securities & Exchange Commission. Tweedy, Browne manages money for investors and pension funds as well as its own Tweedy Browne Global Value Fund, according to Bloomberg News.

Castle & Cooke closed down 6 cents at $14.31 today on the New York Stock Exchange. Chairman David H. Murdock is the biggest shareholder with about 23 percent.

Pleasant Hawaiian issues more passes

Pleasant Hawaii Holidays has expanded its AirPass program, issuing an additional 500 passes for $1,299 each, good for unlimited travel this year between Los Angeles or San Francisco and Honolulu or Maui.

The company has not disclosed how many passes it sold for 1999 travel. It sold about 6,000 for 1998.

The average 1998 user made about seven trips but one customer made 61 round trips, saving more than $26,000, the company said.

For information and reservations call 1-800-242-9244.

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