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Business Briefs
Reported by Star-Bulletin staff & wire

Friday, July 13, 2001



Hawaii's romantic appeal strong for honeymooners

This year, 16 percent of the 2.4 million couples who marry in the U.S. will honeymoon in Hawaii, according to a national survey done by Bride's magazine. The study revealed that couples not only stay longer in Hawaii compared to other honeymoon destinations, but also spend more money here.

Honeymooners visiting Hawaii stay an average of 10 days, longer than the average honeymoon stay of 7.8 days. They spend an average of $5,028 while here, 35 percent more than the average honeymooner at $3,719. The reasons cited by honeymooners for choosing Hawaii included: Breathtaking scenery (81 percent) and world-class beaches (76 percent).

General Growth takes $65 million charge

Chicago >> General Growth Properties Inc., owner of Ala Moana Center, will take a pretax second-quarter charge of $62 million to $65 million to end a venture selling Internet services to retailers.

The venture, called Network Services, was designed to sell Internet-based services to mall tenants to support their operations, online sales and network services, said David Keating, a spokesman for the Chicago-based company, which is the second-largest shopping-mall owner in the United States

The charge is the largest to date as real estate companies write down technology ventures after finding tenants unwilling to buy the services being offered.

Boyd's Vacations Hawaii posts 4% gain in revenue

Honolulu travel agency Vacations Hawaii reported a 4 percent revenue increase in the second quarter, to $11.46 million, according to parent company Boyd Gaming Corp. For the first half of the year, Vacations Hawaii revenue has increased 5.9 percent, to $21.9 million, Boyd reported.

Overall, the Las Vegas casino company reported earnings before interest, taxes, depreciation, amortization and pre- opening expenses of $57.6 million, a 7 percent increase from the same quarter of 2000. Earnings came to 14 cents per diluted share in the second quarter, a penny higher than the prior year, also excluding preopening expenses. Net income for the quarter rose 26.4 percent for a year earlier, to $8.4 million.

Regulators seek fast track for case with Microsoft

Washington >> Government antitrust enforcers asked a U.S. appeals court to put the Microsoft Corp. case on a fast track, hinting they may seek changes in the next version of the Windows operating system.

The public interest demands a "prompt" and "effective remedy" for the software giant's illegal conduct, the Justice Department and 18 states said in a legal brief. The request may lead to a courtroom battle over whether the software giant can bundle new features into Windows XP, due on the market Oct. 25. State officials have said they are concerned Microsoft will tighten its grip on the market for personal computer operating systems by including new software in Windows XP.

[TAKING NOTICE]

New Jobs

>> Laura K.M. Colbert has been named president at Lanakila Rehabilitation Center Inc. She had been previously employed as executive vice president at Child and Family Service.

>> Kamehameha Schools has hired Sanford Murata as director of its endowment group commercial assets division. He will manage 45 commercial properties in Hawaii. Murata has 35 years of experience in real estate and was a founding principal of Graham Murata Russell.

On The Board

>> Clyde Eugenio has been reappointed a commissioner of the Honolulu Liquor Commission through 2003. He has served at the post since 1995. Eugenio also is financial secretary-treasurer and business manager at Ironworkers Union Local 625.





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