ON THE MAINLAND

Arthur Andersen fined $500,000 over Enron

HOUSTON >> Arthur Andersen LLP, once the world's fifth-biggest accounting firm, was ordered to pay the maximum $500,000 fine for obstructing the government's investigation into the demise of Enron Corp.

Since Andersen's indictment in March, the 89-year-old firm has dwindled from 85,000 employees worldwide to fewer than 3,000. Andersen's June 15 felony conviction in federal court in Houston ended the Chicago-based firm's bid to save its reputation and its ability to audit public companies.

U.S. District Judge Melinda Harmon today imposed the stiffest sentence available under federal law, Bloomberg News reported. Andersen was convicted of destroying Enron audit documents that may have been of interest to investigators.

"I believe a maximum fine is warranted to send a message," Harmon said. "The full impact of Andersen's conduct will never be known because many of the documents could not be recovered."

Microsoft reclaims spot as most valuable

NEW YORK >> Microsoft Corp. is once again the world's most valuable company.

The Redmond, Wash., software company sports a market capitalization of $264.3 billion based on Monday's close. That's less than half its peak value, but good enough to eclipse the sagging General Electric Co., whose market cap is $242.3 billion.

Market capitalization is computed by multiplying the current stock price by the number of shares outstanding. General Electric has about 9.95 billion shares outstanding; Microsoft has about 5.36 billion shares outstanding, according to recent company reports.

The two giants have jostled for the top spot for much of this year.

America Online to halt most pop-up ads

NEW YORK >> In a bid to make its customers happy, America Online Inc. is eliminating those annoying pop-up ads -- for the most part.

"This new policy will contribute to our most important goal -- a better member experience," said Jon Miller, America Online's chairman and chief executive. "By ending third-party pop-ups and merchandise sales we are giving our members what they want."

The announcement yesterday to no longer accept pop-up advertising coincided with the launch of the latest version of AOL software.

The new policy will take effect as the company works through the inventory of ads and merchandise promotions it is already committed to run.

Dell dude may stay around after all

AUSTIN, Texas >> Dude, you can relax.

Rumors aside, Dell Computer pitchman "Steven" -- "Dude, yer gettin' a Dell!" -- is going to be around for more Dell commercials, says the actor's agent.

"Dell loves him and he loves Dell," Bonnie Schumofsky, agent for 21-year-old actor Benjamin Curtis, said today. "The rumors that he was given a pink slip are untrue." She said "a very high authority" assured her Curtis' job was safe.

The Wall Street Journal reported today that Curtis was not sure if his contract was going to be renewed. It also quoted Dell group marketing manager Claire Bennett as saying all good things must eventually come to an end.

Dynegy ends trading business; COO resigns

HOUSTON >> Dynegy Inc., which once considered a rescue buyout of Enron Corp., announced today it is getting out of the energy trading business, its chief operating officer is resigning and significant layoffs are coming.

The company also said it is decentralizing its corporate structure, making business units in power generation, natural gas liquids, regulated energy delivery and communications more autonomous.

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[Hawaii Inc.]

NEW JOBS

>> Kimberlee S. Kihleng has been named executive director of the Hawaiian Mission Children's Society and Mission Houses Museum. She has a doctorate in anthropology with specialization is the people and culture of the Pacific Islands. Kihleng was most recently research administrator for the Hawaii Outcomes Institute at the University of Hawaii, John A. Burns School of Medicine.

>> Jonathan Y.S. Kwon has been named assistant vice president of Coldwell Banker Commercial Pacific Properties. He will be responsible for the leasing and sales of all areas of commercial real estate. Kwon has 14 years of commercial and residential real estate sales experience, most recently as an associate with Chaney, Brooks & Company Inc. specializing in industrial real estate sales and leasing. Coldwell Banker Commercial Pacific Properties is a Hawaii leasing agent and property manager.

PROMOTIONS

>> Bob Duren has recently been promoted to vice president of Success Dynamics. He was previously general manager of the Morning Report Division of the retail consulting company. Duren's responsibilities continue to include getting the Morning Report to clients daily. He supervises a team of seven "Morning Reporters" in Hawaii and Canada, who input sales data from clients.

>> Summit Lending has promoted Nora Yoshikane to vice president of finance and Charles Degala to loan manager. Yoshikane and her staff of four handle accounting services as well as loan pricing. She was previously Summit Lending's finance manager and has more than 10 years' experience in the mortgage industry.

Degala was a loan officer. Prior to joining Summit last year, he worked in the travel industry for 15 years.