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HAWAII

China travel execs to train in Hawaii

A delegation of managers from a major China-based travel agency is scheduled to visit the state March 1-8 for training at University of Hawaii's Travel Industry Management school.

Topics will include strategic travel marketing, travel information systems, global tourism trends and tourism product development. The travel agency, Shanghai Spring International Travel, is paying for the trip and for the instruction, according to the Hong Kong China Hawaii Chamber of Commerce, which is part of a collaborative effort to bring the group.

New publisher for Hilo newspaper

HILO >> Ted Dixon, publisher of The Daily World in Aberdeen, Wash., has been named publisher of the Hawaii Tribune-Herald, succeeding Jim Wilson, who is retiring.

Dixon, who has been publisher in Aberdeen for seven years, will become publisher of the Hilo paper on Jan. 1, 2004.

Wilson, born in Oklahoma, has been with the paper in Hilo for more than three decades, originally as ad director.

Sherman R. Frederick, president and chief executive officer of Stephens Media Group, made the announcement on Monday. The group, which changed its name from Donrey Media Group last year, owns both the Hawaii and Washington papers and also West Hawaii Today in Kailua-Kona.

The transition will begin in the next few weeks, Frederick said.

Stephens also co-owns hawaii.com in partnership with Gannett Co.

MAINLAND

Crude oil soars to 12-year high

New York >> Crude oil futures surged to the highest price since Iraq occupied Kuwait in 1990, after the Energy Department reported declines in U.S. inventories of oil, distillates fuels and gasoline.

Crude oil for April delivery rose $1.64, or 4.6 percent, to $37.70 a barrel on the New York Mercantile Exchange, the highest closing price since Oct. 16, 1990. Oil reached $37.93 during the session, a 12-year intraday high.

"These prices are alarming," said Don Reep, crude-oil supply manager at San Antonio-based Tesoro Petroleum Corp., the fourth-largest independent U.S. refiner. "Everyone is carrying low inventory but certainly at these levels you definitely don't want to be sitting on any more crude than you have to. It's an enormous cash drain."

Clear Channel returns to profit

SANANTONIO >> Clear Channel Communications Inc., the largest U.S. radio company, reported a fourth-quarter profit as sales at the company's three main businesses rose, Bloomberg News reported.

Net income was $183.9 million, or 30 cents a share, compared with a net loss of $365.6 million, or 61 cents, a year earlier, Clear Channel said.

In Hawaii, Clear Channel owns KSSK-AM 590/FM 92.3, KIKI-FM 93.9, KDNN-FM 98.5, KUCD-FM 101.9, KHVH-AM 830 and KHBZ-AM 990. The seven stations are the most the company can own in the Honolulu market.

Clear Channel sold more tickets to events such as concerts, boosting sales at its entertainment division 28 percent. The company also charged more for advertising at its radio stations and sold more ads for its billboards.

Sales rose 19 percent to $2.21 billion from $1.86 billion.

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