Holland America bids $79.8 million to get Patriot

The cruise ship ms Patriot is going back to Carnival Corp. The company's Holland America Line unit bid $79.8 million for the 1,212-passenger liner at a federal auction today.

That was the amount HAL was still owed from American Classic Voyages Inc.'s $115 million purchase of the ship in 1999, so HAL will not have to pay any cash. U.S. marshals seized the ship Oct. 26, on HAL's behalf, after American Classic went into bankruptcy.

One other bidder, a Honolulu resident who declined to give his name, briefly topped HAL's initial bid of $1 million by offering $50,000 more, but dropped out as soon as HAL made its offer of nearly $80 million.

The sale is subject to court confirmation. Officials of HAL and Carnival had no immediate comment on what they plan to do with the ship, now that it is again theirs. The ship, which plied Hawaii's waters for nearly a year before American Classic's failure in October, is tied up at Pier 10.

Volunteers offer free tax help around Hawaii

Beginning in February, volunteers throughout Hawaii are offering free income tax prepara- tion through the Tax-Aide program. The program, which provides assistance to people who need but cannot obtain professional tax help, is sponsored by AARP Tax-Aide, the Hawaii Department of Taxation and the Internal Revenue Service.

Last year, more than 20,000 Hawaii taxpayers received help at Tax-Aide sites at libraries, churches, military bases and community centers.

Volunteers are trained by the AARP, Hawaii Department of Taxation and the IRS and can prepare basic tax returns including forms 1040EZ, 1040A and 1040 with a simple Schedule A for itemized deductions. For further information, times and locations, contact 888-227-7669 or the IRS at 800-829-1040.

Toys R Us to ax 1,900 jobs, close 64 U.S. stores

TRENTON, N.J. >> Toys R Us Inc. plans to eliminate 1,900 jobs, or about 3 percent of its permanent work force, close 64 U.S. stores and consolidate support services as part of a plan to cut costs and boost profits.

The moves come as the company's earnings have slumped due to the economic slowdown, extensive remodeling costs and fallout from the Sept. 11 terrorist attacks. Toys R Us said it will take a $213 million pretax restructuring charge in its fiscal fourth quarter, which ends Feb. 2. The company said the cuts would increase cash flow in 2002 and beyond and boost pretax earnings by about $25 million in 2002, and about $45 million annually beginning in 2003.

In other news . . .

CAMARILLO, Calif. >> Gas prices fell nearly 1 cent a gallon nationally in the past two weeks as the low demand typical of January met with ample supplies. Prices Friday at about 8,000 gas stations nationwide averaged $1.11 a gallon for self-serve regular, compared with $1.12 a gallon two weeks ago.