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Wahiawa hospital nixes nurses' proposal

Wahiawa General Hospital rejected the latest proposal from the union representing its striking nurses last night after talks with a federal mediator.

No new talks are scheduled.

The hospital has offered nurses up to a 19 percent pay raise over three years, but would increase payments for health care, which nurses say undermines the wage increase.

Nurses also want access to retiree health benefits and have asked for increased pay to reward long-time employees. They also want the hospital to eliminate situations where a single registered nurse would be left alone to care for patients, according to the Hawaii Nurses Association.

More than 60 nurses from the hospital went on strike May 5.

Nurses say the hospital's failure to offer a package competitive with area hospitals will eventually lead to resignations.

So far, three Wahiawa nurses have resigned while a larger number have taken on part-time work elsewhere in the community, the union said.

The HNA said today that picketing would continue, but on a reduced schedule as nurses report for jobs away from Wahiawa General.

Richard Aea, the hospital's manager of Human Resources, said yesterday that operations continue normally at the facility using nursing supervisors and personnel from ancillary services to care for patients.

Personal bankruptcies jump 7.4%

WASHINGTON >> The record-setting pace of new personal bankruptcies continued this year, with their number rising 7.4 percent in the 12 months ended March 31, according to data released today.

The upward trend had been expected to continue this year in the sluggish economy and as effects still linger from the consumer spending binge of the 1990s.

"There is still a big slug of individuals with problem debt still working their way through the (bankruptcy court) system," said Samuel Gerdano, executive director of the American Bankruptcy Institute, a group of bankruptcy judges, lawyers and experts.

As is normally the case, most bankruptcy filings were by individuals.

The data compiled by the Administrative Office of the U.S. Courts show that new bankruptcy filings by individuals totaled 1.6 million in the 12-month period -- a new record -- up from 1.5 million in the 12 months ending March 31, 2002.

Wholesale prices plunge

WASHINGTON >> Wholesale prices plunged by a record 1.9 percent in April as the end of the Iraq war removed pressures on energy costs, which posted their largest drop in nearly 17 years. Operating capacity at big industry nosedived to the lowest ebb since 1983.

The big drop in the Producer Price Index, which measures the prices of goods before they reach store shelves, marked an about-face from March when higher energy prices helped to catapult wholesales prices up by a hefty 1.5 percent, the Labor Department reported.

Today's report might intensify fears about whether the United States is heading toward destabilizing fall in prices.

In addition, the Federal Reserve reported that production at the nation's factories, mines and utilities fell by 0.5 percent in April for the second month in a row, a fresh sign that manufacturing is the weakest link in the economy's ability to get back to full economic speed.

AMR eyes bankruptcy despite creditor deals

CHICAGO >> American Airlines said today it may still have to file for bankruptcy, even after reaching deals with more than 100 suppliers, aircraft lessors and other creditors that will save it more than $175 million a year.

The world's largest airline, a unit of AMR Corp., narrowly averted bankruptcy three times last month and has been scrambling to restructure its costs out of court.

The airline said it expects the latest agreements to generate cumulative savings of more than $1 billion.

Target profit up, other chains results mixed

NEW YORK >> Target Corp. posted a modest increase in first-quarter earnings today, while several youth-oriented clothing chains rang up mixed results.

Target, the No. 2 discount chain behind Wal-Mart Stores Inc., earned $349 million, or 38 cents per share, in the first quarter ended May 3, falling short of Wall Street expectations. A year earlier, it earned $345 million, or 38 cents per share.

American Eagle Outfitters Inc. and Children's Place Retail Stores Inc. both said first-quarter profit fell, but earnings at Urban Outfitters Inc. rose sharply.

In other news ...

>> HealthSouth Corp. said is cutting 80 more office jobs and paring its aircraft fleet because of an accounting scandal that has put the medical giant in danger of bankruptcy.

>> U.S. initial jobless claims fell for a third straight week, the longest streak in a year, suggesting the rate of firings may be slowing. But the number of people still on jobless benefit rolls rose in the week that ended May 3 by 120,000 to 3.77 million, the highest since Nov. 17, 2001.