Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, February 23, 1999

Castle & Cooke to go west

In a move reflecting changing times, Castle & Cooke Inc. is relocating its Honolulu headquarters out of the old Dole cannery complex in Iwilei and into the Mililani Technology Park, one of its developments in Central Oahu.

The March 1 move, into the VeriFone Building, will affect 45 employees and include subsidiaries Castle & Cooke Homes Hawaii; Castle & Cooke Properties Inc., and Castle & Cooke Land Co.

Castle & Cooke Inc. President Wally Miyahara said the move will consolidate operations in Central Oahu, where most of the company's property and developments are located.

"It will be easier and more efficient to administer and manage these properties with all of our personnel near to our operations," he said.

Los Angeles-based Castle & Cooke Inc. was spun off Dole Food Co. in 1995, taking over resorts on Lanai and residential developments in Hawaii and on the mainland. Dole, now based in Westlake Village, Calif. and a global producer of fresh fruit, vegetables and flowers, was founded in Hawaii in 1851.

Castle & Cooke Inc. developed the Mililani residential area and Town Center of Mililani. Its assets also include Dole Plantation and the Royal Kunia Phase I residential development.

U.S. consumers remain confident

NEW YORK -- Consumer confidence rose for a fourth-straight month in February as Americans enjoyed continued U.S. economic growth and felt especially secure about the current job market.

The Conference Board reported today its index of consumer confidence rose a better-than-expected 3.2 points to 132.1 in February from a revised 128.9 in January. The index dropped sharply in October and has since been making a steady recovery.

Consumer sentiment is an important economic indicator since consumer spending accounts for two-thirds of the nation's overall economic activity.

Microsoft's trial to be put on hold

WASHINGTON -- Microsoft Corp.'s landmark antitrust trial, which already has dragged on months longer than anyone expected, will recess during the entire month of March and part of April.

The judge announced the new schedule yesterday, citing a criminal trial he must attend and another case in Philadelphia being argued by the government's lead lawyer, David Boies.

U.S. District Judge Thomas Penfield Jackson said the Microsoft trial will resume no sooner than April 12, and possibly later if either of the other two trials continues past that date. The judge said yesterday he expected Microsoft's final four witnesses to finish testifying by Friday.

After the six-week break, Microsoft and the government will present for the judge their rebuttal arguments to sum up their cases, using three witnesses each. The trial began in late October.

In other news . . .

WESTLAKE VILLAGE, Calif. -- Pinkerton Inc., the American private detective firm whose agents guarded Abraham Lincoln and chased Jesse James, is being acquired by a Sweden's Securitas AB. The deal, announced yesterday, would create a global security company with $3.5 billion in annual sales.

See expanded coverage in today's Honolulu Star-Bulletin.
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