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Hawaiian, Island Air link up e-ticketing

Travelers with flight connections between Hawaiian Airlines and Island Air now need only one e-ticket and do not have to check in more than once, under a new agreement.

The deal extends Hawaiian Air's paperless ticketing to all six major Hawaiian islands. The e-tickets already are being issued by Hawaiian and Island Air, and are scheduled to be available through travel agencies by the end of the year.

Hawaiian Airlines previously reached e-ticketing agreements with Delta, Continental, United, American, Northwest and several other carriers.

Bank exec joins Actus Lend Lease

Bennette Evangelista, a former senior vice president and senior manager at Central Pacific Bank, has joined military housing contractor Actus Lend Lease LLC as its vice president and director of community relations.

Evangelista, a 16-year Hawaii bank executive, was one of four women honored in 2002 as a "Woman of Distinction" in the field of banking by the Girl Scouts Council of Hawaii.

AOL to get independent oversight

The Justice Department announced yesterday that it would defer bringing criminal securities fraud charges against the America Online unit of Time Warner as long as Time Warner adopted corrective measures and allowed an independent monitor to oversee AOL's financial operations for two years.

Separately, Time Warner announced that it had reached a tentative agreement with the enforcement division of the Securities and Exchange Commission to settle charges of accounting irregularities at AOL. The SEC's five commissioners still need to approve the proposed settlement from the enforcement division.

The two agreements will cost Time Warner a total of $510 million.

Wal-Mart fires 3 executives

Wal-Mart Stores Inc., the world's largest retailer, said it fired three executives and four other employees for violating company policy.

Jim H. Haworth, executive vice president of operations for the Wal-Mart Stores division, was fired, according to a report yesterday in the Benton County Daily Record, citing three people it didn't name. Wal-Mart spokeswoman Mona Williams declined to provide the employees' names or say what rules were broken.

Williams said the firings weren't related to ongoing litigation, criminal matters or the retirement next month of Vice Chairman Tom Coughlin.

"They failed to follow established company rules and were terminated," Williams said.

The terminations come as the Bentonville, Ark.-based company struggles with sluggish holiday sales, community opposition to the opening of stores in some cities, and a major sexual-discrimination class-action lawsuit.

Fannie Mae broke rules, SEC says

A review by the Securities and Exchange Commission has found that Fannie Mae violated accounting rules, buttressing earlier determinations by another federal regulator and amplifying the prospect of an earnings restatement by the mortgage giant.

SEC Chief Accountant Donald Nicolaisen yesterday disclosed the findings of the agency's review and said he had told the government-sponsored company to restate its earnings.