Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, April 14, 1999

Hawaiian Air hires operations chief

Hawaiian Airlines Inc. today announced the appointment of a new head of operations, Michael R. Schwab, 53, who had years in senior management at US Airways Group Inc. and 14 years in similar posts at United Airlines.

Schwab is responsible for the daily operations and administration of flight operations, inflight services and catering, maintenance and engineering, airport services and systems control.

Each of those sections has been reporting directly to Paul J. Casey, president and chief executive officer. Now they report to Schwab who reports to Casey. Hawaiian said the appointment is interim while the airline seeks Schwab's advice on the best management setup to handle its growth.

GTE leader to get windfall in deal

WASHINGTON -- GTE Corp. Chairman and Chief Executive Charles Lee stands to receive $24.9 million if he completes his company's sale to Bell Atlantic Corp. and stays on as chairman and co-CEO of the combined company. His counterpart, Bell Atlantic Chairman and Chief Executive Ivan Seidenberg, can expect $13.9 million for his part if Bell Atlantic completes the $80.1 billion purchase and he becomes co-CEO with Lee, according to the company's joint proxy statement filed with the U.S. Securities and Exchange Commission.

Apple's earnings top expectations

SAN JOSE, Calif. -- Apple Computer Inc. more than doubled its quarterly profit and beat Wall Street expectations in a strong recovery fueled by demand for the company's new iMac personal computers. It was the company's sixth straight quarterly profit.

Apple Computer, which had suffered nearly two years of red ink, reported late yesterday it earned $135 million, or 84 cents a share in its fiscal second quarter, which ended March 27. That was up from a profit of $55 million, or 38 cents a share, in the same quarter a year ago. Excluding one-time gains, Apple would have earned 60 cents a share, beating the 57 cents a share predicted by analysts.

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