Oceanic Cable boosting standard rates 6.3%

Oceanic Cable is raising the monthly price of its standard service cable television package to $33.99, a 6.3 percent increase from $31.99, the company said.

The increase will take effect Nov. 1. Oceanic's standard service is a combination of its basic and value services. The price for basic service by itself is rising to $10.80 per month from $9.90, while the price for value service is going to $23.19 from $22.09. At the same time, Oceanic is adding as many as eight more channels to its value and standard services, including Bravo, Turner Classic Movies and WE: Women's Entertainment.

Meanwhile, Oceanic is cutting the price for its two digital cable packages to $9.96 each from $11. Both services combined are available for $12.96, a drop from $14. All installation and pay-per-view prices are staying the same, Oceanic said.

Ex-FDIC chair Tanoue tapped for Bankoh board

Former Federal Deposit Insurance Corp. Chairwoman Donna Tanoue has joined the board of Bank of Hawaii.

As head of the FDIC from May 1998 to July 2001, Tanoue was responsible for a 6,500-employee regulatory agency which oversees nearly 5,700 banks and insures $3 billion in deposits. In particular, Tanoue led the FDIC's initiative to overhaul the deposit insurance system. Prior to her appointment at the FDIC, Tanoue was a partner in the local law firm of Goodsill Anderson Quinn & Stifel. She also served as state commissioner of financial institutions.

"It's a pleasure to welcome Donna to our board," said Michael O'Neill, chairman and chief executive officer of Bank of Hawaii's parent, Pacific Century Financial Corp. "Her outstanding credentials and reputations, along with her knowledge and perspective of banking issues, will enhance and complement the expertise that exists on our board."

DBEDT reschedules trip to China for December

The state Department of Business, Economic Development & Tourism has reset its business development mission to mainland China for Dec. 2-14.

The Aloha China! Business mission -- which will travel to Beijing, Shanghai, Guangzhou and Hong Kong -- was to have taken place in September but was postponed due to the terrorist attacks in New York and Washington, D.C.

The mission aims to introduce Hawaii companies to opportunities from China's technology boom, the selection of Beijing as host for the 2008 Olympics and the nation's imminent entry into the World Trade Organization.

"We are very pleased to continue to build and expand partnerships in China," said department Director Seiji Naya. "We believe the recent developments in China continue to provide Hawaii companies with many new opportunities."

HMSA bonds receive vote of confidence

The national ratings firm Standard & Poor's yesterday affirmed its previous A-plus rating for Hawaii Medical Services Association, saying the financial outlook for Hawaii's biggest medical plan business is stable.

Among the positive factors cited were HMSA's leading market position, "excellent managed-care capabilities," strong capitalization and a strong earnings profile. HMSA, which is expected to maintain enrollment of about 620,000 members through 2002, is expected to show pre-tax income of between $5 million and $10 million this year.

Not counting income from investments, however, HMSA is likely to "continue to incur operating losses in the near term," S&P said. HMSA had an operating loss of $49 million last year.

Isle cruise parent lays off 35 reservations agents

American Classic Voyages Co., which has been cutting prices and reducing its number of cruises to spur business in a slowing economy, confirmed yesterday that it laid off 35 temporary service reservations agents Friday from its Weston, Fla., facility.

The company, which is in the process of relocating its headquarters to Sunrise, Fla., from Chicago, operates the 1,212-passenger ms Patriot out of Honolulu Harbor and the 860-passenger S.S. Independence out of Kahului, Maui. American Classic's stock, down 94.9 percent this year, rose 1 cent yesterday to close at 72 cents on the Nasdaq Stock Market.

Honolulu private planes cleared for takeoff

Private aircraft were allowed to start flying today in the area around Honolulu Airport, for the first time since the Sept. 11 terrorist hijackings on the mainland.

The Federal Aviation Administration opened up Honolulu and 14 other metropolitan-area airports across the country to private pilots. There are still some limits. For example, the planes must be fitted with radio transponders to let the FAA follow their actions, and the pilots were told to "fly normally and to avoid aerobatics, circling or loitering and unpredictable flight paths."

Commercial commuter airlines were able to begin limited service Sept. 14.