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Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, May 18, 2000

A&B hires Andrasick, from C. Brewer & Co.

James S. Andrasick, former president and chief operating officer of C. Brewer & Co., will become senior vice president, chief financial officer and treasurer of Alexander & Baldwin Inc. on June 1.

Andrasick joined Brewer in 1974 and worked in increasingly senior posts. He earlier worked as a financial analyst at Ford Motor Co. and in the corporate development department of IU International, which was C. Brewer's parent until 1986. He was also chairman of Brewer Environmental Industries. At A&B, he will report to W. Allen Doane, president and chief executive, and oversee all the financial activities of A&B and its subsidiaries.

United Air parent declares dividend

CHICAGO -- UAL Corp., parent company of United Airlines, declared a 31.25 cent per share quarterly dividend today -- its first dividend since 1987. The dividend is payable June 15 to shareholders of record May 30.

Mortgage rates hit five-year highs

WASHINGTON -- Mortgages rates shot up again this week with 30-year and 15-year mortgages reaching their highest levels since early 1995. The average interest rate on 30-year fixed-rate mortgages climbed to 8.64 percent this week from 8.52 percent last week, according to a survey released today by mortgage company Freddie Mac. Fifteen-year mortgages also rose this week to 8.31 percent, up from 8.17 percent. One-year, adjustable-rate mortgages averaged an initial rate of 7.15 percent this week, up from 6.96 percent.

In other news . . .

Bullet NEW YORK -- Columbia/HCA Healthcare Corp., the nation's largest hospital chain, said today it has reached a tentative agreement to pay the federal government $745 million to settle a billing fraud investigation involving Medicare and other federal programs. The civil settlement with the Justice Department, which still needs to be approved by several other federal agencies, is far less than the $1 billion analysts had expected.

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