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Business Briefs
Star-Bulletin staff
and wire services
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HAWAII
Insurer offers hurricane coverage
Stonington Insurance Co. will be offering a hurricane coverage option for Hawaii residents along with homeowner and condominium owner insurance coverage, state Insurance Commissioner J.P. Schmidt said yesterday.
NATION
United doubles second-bag fee
United Airlines, the No. 2 U.S. carrier, is doubling the fee for checking a second bag on domestic flights to $50 each way, blaming higher jet-fuel costs. The increase applies to tickets bought starting today for travel Nov. 10 or later, the airline said. First- and business-class customers and United's frequent fliers don't have to pay the new charge. The Chicago-based carrier, a unit of
UAL Corp., said one in seven passengers will be affected by the higher fee.
United's increase extends steps taken by U.S. carriers to counter fuel prices that have climbed 45 percent in the past year. United said its added changes, including the bag fees, will produce $700 million in revenue next year.
Wendy's, Triarc OK takeover deal
NEW YORK » Shareholders of Wendy's and Triarc approved a $2.34 billion deal yesterday that will make the nation's No. 3 hamburger chain a part of billionaire investor Nelson Peltz's empire.
Atlanta-based Triarc Cos. Inc. operates the Arby's fast food chain and is owned by Peltz. Triarc said in April it would buy Wendy's International Inc. for $26.78 per share in an all-stock deal, after the chain known for its square hamburgers and the Frosty dessert rejected at least two earlier offers by Peltz.
ASSOCIATED PRESS
HP CUTTING JOBS: Hewlett-Packard Co. said yesterday it plans to slash 24,600 jobs over the next three years or nearly 8 percent of its work force, as it combines operations with Electronic Data Systems Corp. Above, HP Chief Executive Mark Hurd at the Oracle Open World Conference in San Francisco in 2007.
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Best Buy to purchase Napster
Best Buy Co., the largest U.S. electronics retailer, agreed to buy
Napster Inc., the pioneer of digital-music downloading, for $121 million as it tries to move music sales online to counter waning demand for compact discs. Napster shareholders will get $2.65 a share, almost double the Los Angeles-based company's price on Sept. 12, Best Buy said yesterday. Napster has about 700,000 subscribers and half of the market for digital-music subscription services.
Best Buy, based in Richfield, Minn., is using its clout as the dominant chain in home electronics to expand its services while Circuit City Stores Inc. and RadioShack Corp. struggle to increase sales.
Promotions / new hires
» Mauna Lani Bay Hotel & Bungalows has named
Rodney Lau as director of sales and marketing. His 20 years of experience include Kauai Marriott Resort and Beach Club, Princeville Resort, The Fairmont Orchid at Mauna Lani, Ritz-Carlton Mauna Lani, Hyatt Regency Waikoloa and Hyatt Regency Waikiki.
» Castle & Cook Homes Hawaii has promoted Lisa Souza to Homeowner Service Center manager from Design Center manager. She joined the company in 1988 as junior host and has also served as a receptionist, mortgage clerk and senior administrative assistant prior to the Design Center's opening in 2000.
> Halekulani Corp. has promoted Gerald Glennon to general manager of Halekulani effective Sept. 1. He joined the company in 2001 as executive assistant manager and replaces Janis Clapoff.
» Hilton Waikiki/Prince Kuhio has named Leatrice Grantham as director of restaurants. Her 25 years of industry experience include general manager of Taormina Sicilian Cuisine, president of Social Planners of Hawaii, restaurant general manager at Halekulani, general manager at Ghirardelli Chocolates, assistant operations manager at California Pizza Kitchen and food and beverage manager at Hilton Hawaiian Village.
» Outrigger Enterprises Group has announced the following new associate general counsels:
* Damian Clowes has 19 years of international legal experience including country manager for Rouse & Co. International in Dubai, United Arab Emirates, partner-in-charge of PricewaterhouseCoopers Legal in Vietnam and in-house counsel for the Trust Company of Australia.
* Blane Yokota has 21 years of experience including assistant general counsel and executive director of labor relations at Hawaiian Telcom, senior counsel to Enterprise Sales Group and working for local law firm Cades Schutte.
BUSINESS PULSE
