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Reported by Star-Bulletin staff & wire
Monday, May 1, 2000
Bankoh parent boosts dividend
Directors of Pacific Century Financial Corp., parent of Bank of Hawaii, voted a 5.9 percent increase in the company's quarterly dividend, to 18 cents a share from 17 cents. The next dividend is payable June 14 to shareholders of record at the close of business May 26. On April 20, Pacific Century had a 12.4 percent increase in first-quarter earnings, beating analysts' estimates.
House Speaker Say joins bank's board
CB Bancshares Inc. has elected Calvin K.Y. Say, speaker of the state House of Representatives, to its board of directors.Say (D, Palolo Valley-Kaimuki) has been a state representative since 1976 and is also vice president and office manager of Kotake Shokai Inc., an importer and wholesaler. CB Bancshares is the parent of City Bank and International Savings & Loan.
Time Warner knocks ABC off its cable lines
A quarrel over transmission rights between Time Warner Inc. and the Walt Disney Co. left seven Disney-owned ABC stations off of local cable systems in seven major mainland markets. The only way for cable customers to see ABC programs would be to rig their TVs to get an ABC station the old-fashioned way, through an antenna. A total of 3.5 million homes were affected, according to Michael Luftman, spokesman for Time Warner. Cable customers were without ABC programming in New York City; Los Angeles; Houston; Raleigh-Durham, N.C.; Toledo, Ohio; and small parts of Time Warner systems in Fresno, Calif., and Philadelphia. Honolulu ABC affiliate KITV Channel 4 was not affected. Time Warner is the parent firm of Oceanic Cable, which carries KITV in Hawaii.
In other news . . .
NEW YORK -- Honolulu-based Cheap Tickets Inc., which sells discount airline tickets by phone and online, plans to spend more than $20 million this year to promote itself, said President Sam Galeotos. An advertising campaign in newspapers, TV and online that began in six major markets may be expanded, he said.