Anyone want to live in a yellow submarine?

Two 72-foot passenger submarines that had been operated off Waikiki by Voyager Submarines, are being sold to the highest bidder in a sealed-bid auction. A Scottsdale, Ariz., auction firm that normally deals in military surplus materials is handling the auction. Information about the subs and how to bid is on the firm's Web site, www.govliquidation.com under "view more events."

Voyager Submarines, a partnership that included Robert Iwamoto of the large Robert's Hawaii tour business, operated from 1996 until it went out of business in June last year.

The yellow submarines, which cost $3.8 million each, can carry 48 passengers and dive to 300 feet. For more information call Hunter Hoffman at (480) 609-3281.

Hawaiian Air board authorizes stock buyback

Hawaiian Airlines' board of directors has authorized the company to buy up to 5 million of its own shares in the open market or in private transactions from time to time, once it is clear that the proposed merger with Aloha Airlines will not take place.

Such stock repurchases reduce the amount of shares in circulation, a move that generally adds value to the issue.

Hawaiian's stock closed up 13 cents to $3.12 today on the American Stock Exchange.

Central Pacific parent declares 18-cent dividend

CPB Inc., parent of Central Pacific Bank, has declared a first-quarter dividend of 18 cents a share payable April 26 to shareholders of record as of March 29. The dividend mat- ches the amount declared in the previous quarter but marks a 12.5% gain over the 16-cents-a-share dividend declared during the same period last year.

Microsoft accuses Sun of misusing litigation

WASHINGTON >> Sun Microsystems saw Microsoft's decision to stop supporting Sun's Java programming language -- a subject of Microsoft's ongoing antitrust case and a private suit by Sun -- as an opportunity to highlight Microsoft's "hostile business practices."

The company's strategy was outlined in internal documents produced by Microsoft today during the second day of an antitrust trial in which nine states are seeking tough penalties against Microsoft.

Sun officials wrote about plans to "reinforce Java's benefits," "distribute through new channels" and "rally public opinion against Microsoft's hostile business practices."

In other news ...

Cincinnati >> Chiquita Brands International Inc., the world's biggest banana producer, said it emerged from bankruptcy protection and will begin trading its new shares tomorrow. The company plans to issue 40 million shares of stock and 13.3 million warrants for the purchase of new stock. The shares will trade on the New York Stock Exchange. The 132-year-old company, which has lost money for the past three years, sought Chapter 11 bankruptcy protection from creditors in November.