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IN HAWAII
Japan package tours rebound
Japanese package-tour reservations for Hawaii trips are stronger in this year's holiday season than the year 2000 holiday season, according to a survey of five major tour wholesalers by the Japan Association of Travel Agents.Reservations are up 7.6 percent compared with 2000 and up 110.3 percent compared to 2001, the association said.
Japanese visits to Hawaii in the first half of this year were down 20 percent year-over-year, and the numbers have been improving.
But a good performance in December does not mean Japanese tourism has recovered, said Yujiro Kuwabara, a spokesman for JTB Hawaii, a unit of Japan's largest travel agency. So far, bookings for January, February and March are not looking as good as December, and are looking more like November, when bookings were 15 percent below 2000 levels, Kuwabara said. Making matters harder to predict, travelers are booking their trips at the last minute.
Hawaiian Airlines traffic increases
Hawaiian Airlines carried 431,997 passengers in November, 4.7 percent more than the 412,665 it carried in November 2001. With more seats available, however, the airline's flights averaged 71.3 percent full last month, down 6.5 percentage points from a load factor of 77.8 percent in November 2001.Hawaiian said it had 553.1 million available seat miles last month, up 31.4 percent from 420.9 million the previous November. A seat mile is one seat carried one mile. The airline flew 394.6 million revenue passenger miles in November, up 20.5 percent from 327.4 million in the year-earlier month. A revenue passenger mile is one paying passenger carried one mile.
The monthly figures include Hawaiian's mainland-Hawaii and Hawaii-South Pacific services as well as its interisland flights.
SBA provides record isle loans
The U.S. Small Business Administration Hawaii office reported that it provided a record level of loan assistance to Hawaii-based firms for the 2002 fiscal year.The organization reported it lent more than $39 million through 14 financial institutions. Of that amount, $29.8 million was provided through its primary 7(a) loan program. SBA's 504 fixed assets loan program accounted for a further $9.5 million over 34 loans to small businesses. The remainder of the financing of $186,800 covered 23 small loans.
SBA also said it helped small businesses secure more than $187 million in contracts with federal agencies, an increase of about $20 million from the previous fiscal year, the agency said.
2 join health insurance group
The Hawaii Management Alliance Association and University Health Alliance have joined the Hawaii Association of Health Plans, the trade group representing the state's health insurers.Other members include Hawaii Medical Service Association, AlohaCare and MDX Hawaii. The association was formed in 2000 to address community health and business issues.
MAINLAND
Yahoo to buy Inktomi for $235 million
SAN FRANCISCO >> Internet giant Yahoo Inc. yesterday said it will buy fast-fading software maker Inktomi Corp. for $235 million in a deal that sets the stage for a shake-up in online search engines.The $1.65-per-share acquisition, expected to close before April, punctuates a brutal fall for Inktomi, a former dot-com darling that had a market value of $25 billion in early 2000 when its stock price peaked at $231.63.
Inktomi's shares climbed 43 cents to close at $1.60 yesterday on the Nasdaq Stock Market. Yahoo's shares gained 65 cents to close at $17.73 on the Nasdaq.
While yesterday's deal closes the books on Inktomi, it appears to open new opportunities for Yahoo.
The company has been licensing Google's highly regarded search engine since mid-2000, but that relationship has become more shaky as Google's Web site became a more powerful online magnet, drawing traffic from Yahoo.
Buying Inktomi's expertise in online search puts Yahoo in a position to drop Google, said industry analyst Safa Rashtchy of U.S. Bancorp Piper Jaffray.
IRS gets passing grade from new report
WASHINGTON >> The Internal Revenue Service did a good job handling tax returns and refunds this year despite complications caused by tax law changes and the terrorist and anthrax attacks, a report commissioned by Congress finds.The IRS, which should begin mailing next year's tax forms early next month, met most of its goals to provide better assistance to taxpayers on the phone, online and at walk-in offices, the General Accounting Office said yesterday. The IRS processed about 131 million tax returns and about 99 million refunds for the 2002 filing season.
The GAO said extensive preparations included updated computer systems and better trained staff.
Qwest OK'd to resume long-distance service
DENVER >> Federal regulators voted yesterday to approve Qwest Communications International's application to re-enter the long distance telephone market in nine states.The Federal Communications Commission said its approval of Qwest's application should benefit consumers by increasing competition for telecommunications services.
The decision marks the culmination of a long battle by Qwest. The effort suffered a setback earlier this year amid questions about Qwest's accounting practices.
Denver-based Qwest was barred from offering long-distance service in its 14-state region when it acquired local phone provider U S West in 2000.
