Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, October 6, 1999

HVCB wants bids for marketing jobs

The Hawaii Visitors & Convention Bureau wants bids from companies to provide the bureau with public relations and communications services for three years starting Jan. 1.

A request for proposals issued yesterday calls for bids in two categories -- general public relations and communications, mostly in North America, and market-based public relations and communications to support its integrated marketing projects. No budget was set for the first category but for the second the HVCB said it has $410,000 a year to spend. The deadline to submit proposals is Oct. 18 and an announcement will be made in November, the HVCB said. The same firm could get both contracts or they could go to separate bidders. The HVCB recently won a three-year contract to do strategic marketing for the Hawaii Tourism Authority, with a budget approaching $40 million a year.

Yahoo! blows past earnings forecasts

SANTA CLARA, Calif. -- Yahoo! Inc., the No. 1 Internet directory, said after the market closed today that its third-quarter revenue more than doubled as its audience increased and advertising sales rose. Yahoo reported net income of $14.9 million, or 5 cents a share, compared to net income of $4.25 million, or 1 cent, a year ago. Earnings per share excluding costs from its acquisition of Inc. came to 14 cents a share, higher than the 9-cent average estimate by analysts and above the unofficial "whisper" estimate of 12 cents. Yahoo was up $2.44 today to $175.75.

Phelps Dodge wins another acquisition

PHOENIX -- Asarco Inc. has accepted a sweetened buyout offer from Phelps Dodge Corp., setting up a three-way, $2.9 billion deal that will make Phelps Dodge the world's top copper producer. Cyprus Amax Minerals Co. accepted a similar offer last week, breaking away from what had been the Englewood, Colo.-based firm's plan to merge with New York-based Asarco. With Asarco's acceptance yesterday, the deal merges three of the four largest U.S. copper firms.

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