Reported by Star-Bulletin staff & wire
Friday, November 5, 1999
DFS Group taps former isle exec
DFS Group Ltd., parent company of duty free shops in Hawaii and throughout the world, has promoted former Hawaii executive Edward J. Brennan to president and chief executive officer, effective Nov. 19.Brennan, currently president of DFS Merchandising, joined DFS Group in May 1997 as executive vice president for merchandising and operations in Hawaii, after a 16 year-career at R.H. Macy & Co. and Federated Department Stores Inc. He later was promoted to president for the company's entire U.S. operations, and later to DFS' chief merchant last year. Brennan, 43, succeeds Brian E. Kendrick, who is leaving DFS Group to become president and CEO of Asbury Automotive Group, one of the three largest U.S. automobile dealers. San Francisco-based DFS Group Limited is majority owned by Paris-based luxury goods maker LVMH Moet Hennessy Louis Vuitton.
Navy seminar looks at e-commerce
The Navy League will sponsor a one-day seminar Wednesday on opportunities for electronic commerce with the Navy. Participants will be shown how to make bids by computer. The program also will include an update on the Navy's multimillion-dollar Ford Island development plan, involving 450 acres in the middle of Pearl Harbor. The fee for the seminar, at the Pearl Harbor Naval Base Banyans Club, is $40 including materials, continental breakfast and lunch. Call 422-9404 or fax 423-0749 for reservations.
Mortgage rates slip to 7.84 percent
WASHINGTON -- The average interest rate on 30-year fixed-rate mortgages fell to 7.84 percent this week, the lowest level since early October, and down from 7.96 percent last week, according to a survey released by Freddie Mac, the mortgage company. Fifteen-year mortgages averaged 7.45 percent this week, also down from 7.57 percent last week, Freddie Mac said yesterday. One-year adjustable-rate mortgages averaged an initial rate of 6.34 percent this week, down from 6.35 percent.