Reported by Star-Bulletin staff & wire
Friday, October 22, 1999
Maui resort workers vote to join union
The Hotel Employees & Restaurant Employees Local 5 has won the right to represent workers at the Embassy Vacation Resorts on Maui.In a vote yesterday, 144 workers chose union representation while 68 voted against it. A total of 270 workers were eligible to vote. The union said it will begin working on a contract for the Embassy workers.
March of Dimes honors Bankoh
The Pacific chapter of the March of Dimes has presented Bank of Hawaii with the Franklin Delano Roosevelt National Award for distinguished community service. It was the first time the award went to a company and the first time it was presented in Hawaii.March of Dimes said the bank was recognized for its contributions to the community, including its Century Scholars program. The bank spent $5 million last year to help 100 ninth-graders go to college.
Heinz to acquire United Biscuit
PITTSBURGH -- H.J. Heinz & Co., the world's largest ketchup maker, agreed to buy the frozen-food unit of United Biscuits Holdings Plc for about $317 million in cash in a bid to boost its presence in Ireland and the United Kingdom.Edinburgh, Scotland-based United Biscuits' frozen-foods business had about $360 million in sales in 1998 and employs about 3,000 workers at plants in the United Kingdom and Spain. It makes frozen foods, including San Marco pizzas and Linda McCartney vegetarian foods.
Analyst's downgrade pummels Inktomi
FOSTER CITY, Calif. -- Shares of Inktomi Corp., a maker of software that speeds data flow on the Internet, tumbled 14.5 percent after Merrill Lynch & Co. analyst Henry Blodget cut his rating and projected wider losses.Inktomi closed down $17.44 to $103.06 in Nasdaq trading after earlier dropping as low as $101. The decline shaved nearly $900 million off Inktomi's market valuation.