Reported by Star-Bulletin staff & wire
Tuesday, January 12, 1999
Investor gets more shares of isle firm
Hawaiian Natural Water Co., the bottler and marketer of spring water from under a Big Island volcano, has transferred 50,000 shares of its stock for $125,000 to its financial public relations adviser, 8607 Colonial Group Inc. The water company, which went public last May, yesterday said Colonial exercised options to buy the shares at the exercise price of $2.50 each. In raising its capital, Hawaiian Natural used Colonial to connect it with financial markets. In return, the company gave Colonial 100,000 shares and options to buy another 565,000 at prices ranging from $2.50 to $6.Hawaiian Natural has 4 million shares outstanding. Its water is sold in the Middle East and Asia as well as the United States. The company's shares closed unchanged today at $4.121/2 in Nasdaq trading.
BankAmerica plans to cut 18,000 jobs
SAN FRANCISCO -- The new BankAmerica Corp. plans to cut its global work force by about 18,000 jobs over the next three or four years, the San Francisco Chronicle reported today.Chairman and Chief Executive Officer Hugh McColl made the disclosure in a meeting with Chronicle editors and reporters yesterday. He said the cutbacks will equal about 10 percent of the work force and come through layoffs as well as attrition. The new Bank-America was created when McColl's NationsBank took over San Francisco's old BankAmerica in September.
In other news . , .
HOUSTON -- Compaq Computer Corp. has agreed to buy online retailer Shopping.com for $220 million in cash to expand the features of Compaq's AltaVista Internet site.
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