Reported by Star-Bulletin staff & wire
Tuesday, January 26, 1999
Sprint completes isle PrimeCo deal
Sprint Corp. has completed its acquisition of PrimeCo Hawaii's digital phone network and license for an undisclosed price. All PrimeCo employees have been offered positions with Sprint. The acquisition is expected to have little impact on existing customers' rates and services, the company said yesterday.
Burlington cutting 2,900 jobs, 7 plants
GREENSBORO, N.C. -- Textile manufacturer Burlington Industries Inc. is cutting 2,900 jobs, or 17 percent of its work force, and closing seven plants in an effort to streamline its apparel fabrics business. Company officials blamed the decision to reduce capacity on the surge of low-priced garment imports, primarily from Asia. The plants are in North Carolina, South Carolina and Virginia. Burlington has 29 plants overall and employs 17,400 people.
U.S. consumers more confident
NEW YORK -- Consumers' confidence in the economy edged up slightly in January to its highest level since August as a growing number of Americans believed there are more jobs available. But the survey of consumers released today by the Conference Board found that while Americans feel better about their current financial situation than they did a month ago, they are slightly less confident about the outlook for the next six months. The Conference Board reported its index of consumer confidence rose 0.9 point to 127.6 from a revised 126.7 in December.
In other news . . .
n Warner-Lambert Co. today announced a definitive pact to acquire Agouron Pharmaceuticals Inc. in a $2.1 billion stock deal.n Calling it a victory for consumers, the American Society of Travel Agents today said that Delta Air Lines Inc. has withdrawn its $1 surcharge -- implemented earlier this month -- on tickets purchased by means other than the Internet.
See expanded coverage in today's Honolulu Star-Bulletin.
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