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Business Briefs

Reported by Star-Bulletin staff & wire

Monday, July 3, 2000

C. Brewer unit hires president

Hawaii's Own Corp., a Sumner, Wash.-based tropical-juice subsidiary of C. Brewer & Co., has hired Jon Reece as its president and chief executive officer.

The promotion of Reece, who joined Hawaii's Own in 1994 after marketing posts at Miller Brewing Co. and Northwest Bottling Co., became effective Saturday.

Hawaii's Own, a Brewer subsidiary since 1996, also recently hired a new chief financial officer, Raymond A. McLaughlin, who was chief financial officer of United Stars Aerospace Inc.

Construction starts on Hawaii cruise ship

Construction work has begun for the first of two 1,900-passenger cruise ships to be operated by American Classic Voyages Co. in Hawaii waters under the United States Lines name.

After a ceremonial "button-pushing" ceremony by "Uncle Sam" Friday, workers at Ingalls Shipbuilding in Pascagoula, Miss., began to cut steel for the ship, which is to be completed in early 2003.

A second ship is to be finished in 2004.

They will be the largest cruise ships ever built in the United States.

Oracle stock falls as No. 2 exec leaves

REDWOOD CITY, Calif. -- Oracle Corp. shares sank today after Friday's resignation of President and Chief Operating Officer Ray Lane, the No. 2 executive at the world's second-largest software maker.

The shares fell $3.87 to $80.19 after touching a low of $78.87. Oracle announced the resignation of Lane, 53, after the close of U.S. stock trading Friday.

Executives Gary Bloom, 38, Jeffrey Henley, 54, and Safra Catz, 38, will assume Lane's responsibilities, Chief Executive Larry Ellison told the New York Times. Lane's departure may temporarily disrupt the business, analysts said.