Business Briefs

Reported by Star-Bulletin staff & wire

Monday, January 25, 1999

Isle company gets satellite approvals

Columbia Communications Corp., a Honolulu-based business that sells telecommunications slots on orbiting satellites, said it has received Federal Communications Commission approval to operate two new satellites.

One will serve an area from Asia to the U.S. West Coast. The other will serve the Americas, Europe, Eastern Europe and Western Africa.

Ross buys inventory from Trader Jack's

Ross Discount Appliances & Furniture has purchased about $50,000 of inventory from Trader Jack's Furniture & Appliances, which closed Tuesday.

Trader Jack's sold reconditioned furniture and appliances. Officials at Trader Jack's were unavailable for comment.

National gas prices fall to record low

CAMARILLO, Calif. -- Motorist cutbacks on winter travel and a worldwide supply glut helped push gasoline prices to an all-time low, an industry analyst said. The average weighted retail price for all grades was $1.0235 per gallon on Friday -- .65 of a cent below the record inflation-adjusted low of $1.03 recorded two weeks ago, according to the Lundberg Survey. The average at self-service stations for regular unleaded was 96.26 cents a gallon.

In other news . . .

Microsoft Corp. said it will split its stock 2-for-1 in March . . . Online broker Ameritrade Holding Corp. also said it will split its shares 2-for-1 . . . International Business Machines Corp.'s directors may vote to split the company's shares at a board meeting tomorrow . . . Japan's global trade surplus climbed 40.1 percent to a record $121.8 billion in 1998 . . . Pfizer Inc.'s Viagra impotence pill won approval in Japan . . . Philippine Airlines' main creditors plan to take legal action against the carrier unless it makes payments on its $2.1 billion debt by the end of January, a government official said.

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