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HAWAII
A&B reorganizes its management

Stanley Kuriyama, vice chairman and chief executive of A&B Properties Inc., will take on the additional titles of president and CEO of a new organizational structure under a series of promotions that parent company Alexander & Baldwin Inc. announced yesterday.

Kuriyama, who has been with A&B since 1992, will head up the company's new Land Group and will oversee A&B's agribusinesses and real estate. The company said there will be improved oversight of A&B's land assets under Kuriyama.

G. Stephen Holaday will be president of Agribusiness and will oversee the company's sugar and coffee operations. Chief Financial Officer Christopher Benjamin will be promoted to senior vice president from vice president.

Nelson Chun will be promoted to senior vice president and chief legal officer. He had been vice president and general counsel.

In addition, the company's ocean shipper Matson Navigation Co. promoted Matthew Cox to executive vice president and chief operating officer to allow Matson President and CEO James Andrasick to focus on Matson's new Guam-China service and other matters. Cox had been senior vice president and chief financial officer of Matson.

David Hoppes will be promoted to senior vice president, ocean services, from vice president of the group.

A&B's board also maintained the company's third-quarter dividend at 22.5 cents. It is payable Sept. 1 to shareholders as of Aug. 4. A&B has kept its dividend, which yields 2 percent, at the same level for 31 straight quarters.

NATION
Greenspan slams tariffs on China

WASHINGTON » Federal Reserve Chairman Alan Greenspan warned Congress yesterday not to rush to impose punitive tariffs on imports from China, saying they would harm U.S. consumers and protect "few if any American jobs."

It marked Greenspan's most blunt assessment to date that currency-related legislation that has attracted support from two-thirds of the Senate would harm the U.S. economy by driving up prices for the Chinese products Americans crave.

He said a move toward protectionism in the world's largest economy could also unsettle global financial markets while doing little to protect jobs in this country.

Alcoa to cut 6,500 jobs globally

PITTSBURGH » Alcoa Inc., the world's largest aluminum producer, will cut about 6,500 jobs globally -- or 5 percent of its work force -- in the next year, most of them in its automotive businesses, as part of a restructuring aimed at saving the company $150 million a year.

The company said it plans to cut about 3,500 jobs in its automotive divisions. The cuts include previously announced plans to shutter its Hawesville, Ky., automotive plant, as well as cutting 2,500 jobs in its AFL automotive wire harness business.