Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, September 14, 1999

Polynesian center looks for new CEO

Les Moore, president and chief executive officer of the Polynesian Cultural Center since October 1991, is leaving the post to relocate to the mainland for family reasons. However, the move won't take place until mid-2000 or later, the Laie tourist attraction said.

PCC, which gets more visitors than any other admission-charging attraction in the islands, was founded by the Church of Jesus Christ of Latter-Day Saints and employs students from the adjacent BYU-Hawaii campus to help finance their schooling. PCC has begun a search for a new president, today's announcement said.

Hawaiian Air lifts service to Tahiti

Hawaiian Airlines Inc. said today it will double its Honolulu-Tahiti service in mid-December, going to two flights a week from one. It will be a midweek service, using one of the airline's 12 McDonnell-Douglas DC-10 jets, which have 304 seats. The existing Tahiti service is at weekends. Hawaiian said there is a resurgence of interest in Tahiti, boosted by Hawaiian's new Los Angeles-Tahiti nonstop charter flights in connection with Renaissance Cruises and the opening of the new Outrigger Tahiti Hotel.

CPB to buy back more of its shares

The directors of CPB Inc. have authorized the company to buy up to 5 percent of CPB's 9.7 million shares of common stock, or about 485,000 shares, whenever the market looks right. At today's price the purchases would be worth more than $11 million. The company, parent of Central Pacific Bank, last year initiated two stock repurchase programs for a total of 1.06 million shares, or 10 percent of the stock, and 971,000 shares were bought. CPB said stock repurchasing is a way of enhancing shareholder value.

In other news . . .

FORT WAYNE, Ind. -- North American Van Lines Inc. and Allied Van Lines are combining in a $450 million deal, creating one of the world's largest household movers. The new firm, which will based in Fort Wayne, will have locations in 36 countries and 1,100 agents in North America.

E-mail to Business Editor

Text Site Directory:
[News] [Business] [Features] [Sports] [Editorial] [Do It Electric!]
[Classified Ads] [Search] [Subscribe] [Info] [Letter to Editor]
[Stylebook] [Feedback]

© 1999 Honolulu Star-Bulletin