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IN HAWAII

Hawaiian Air trustee may be named today

Former United Airlines executive Christopher Bowers is expected to be officially named today as the new trustee at Hawaiian Airlines.

Bowers, 55, retired Monday as United's senior vice president of sales and reservations following a 30-year career with the airline. He also has extensive experience in marketing.

The appointment of Bowers by U.S. Trustee Steven Katzman would end a weeklong search that began after former Liberty House executive John Monahan resigned June 24 as Hawaiian's trustee after just 22 days on the job. Monahan cited personal reasons for stepping down. Sources have said it was due to health issues.

Katzman had hoped to appoint Bowers on Friday, but his selection was held up because of a noncompete cause he had with United. Bowers was still trying to clear various issues late yesterday, a source close to the situation said.

"We're very close," Katzman said. "If everything goes according to plan, I anticipate the selection will be made public (today)."

Zippy's next stop -- Maui

A Zippy's Restaurant will be built on Maui in 2005, according to a statement by parent company FCH Enterprises Inc.

Citing popular demand by Valley Isle residents, the company is scouting locations in Kahului. When completed, the company's only neighbor island eatery will include a quick service counter, dine-in restaurant and a Napoleon's Bakery retail operation. It is expected to be as big as 7,000 square feet with a seating capacity of 224.

The company plans to begin recruiting management staff this month and will expect those hired to stay on Oahu for training.

Zippy's first neighbor island restaurant, on Kauai, was closed following Hurricane Iniki in 1992. There are 23 locations on Oahu; all are company owned and operated.

ON THE MAINLAND

Judge tosses suits against Merrill

NEW YORK >> A federal judge has tossed out lawsuits by investors who claim Merrill Lynch & Co. was responsible for the money they lost on two companies whose stock prices plummeted after the Internet bubble burst.

U.S. District Judge Milton Pollack said the two lawsuits were filed by investors who were no more than "high-risk speculators" who never would have sued had they made money during the dot-com crash rather than lost it.

Federal securities laws were not meant to "underwrite, subsidize and encourage their rash speculation in joining a freewheeling casino that lured thousands with the fantasy of Olympian riches," the judge wrote.

The suits claimed former star analyst Henry Blodget and others at Merrill Lynch misled investors by hyping stocks in their research reports to lure investment banking business.

GM, Chrysler say sales grow

General Motors Corp. and DaimlerChrysler AG's Chrysler Group said yesterday their sales grew in June, while Ford Motor Co.'s volume was off slightly. Yet all the American automakers painted an optimistic picture for the rest of the year.

GM, the world's largest automaker, saw its light truck sales rise 10 percent, while car sales, excluding its Saab brand, were down 9 percent compared with results recorded in June 2002.

Verizon to take charges of up to $3 billion

NEW YORK >> Verizon Communications Inc. is taking charges of up to $3 billion, but the huge telecommunications company said yesterday the charges will not affect its full-year forecast for adjusted earnings and revenue growth.

Verizon said the largest charge, of $1.6 billion, or 59 cents per share, is due to accounting changes that aim to recognize revenue from its phone book publication unit over a yearlong period rather than as the directories are distributed.

The change, retroactive to Jan. 1, reduces its previously reported first-quarter earnings per share from $1.41 to 87 cents.

Boeing lands contract for AirTran Airways

ATLANTA >> Aerospace giant Boeing was able to fend off a challenge from rival Airbus, winning a multibillion dollar contract to supply AirTran Airways with up to 110 jets.

AirTran announced yesterday that it will order 50 Boeing 737s with an option to buy 50 more, and said it placed an additional order for 10 Boeing 717s. The entire contract is worth up to $4 billion, an AirTran source said, speaking on condition of anonymity.

In other news ...

>> With its accounting practices still under investigation, Qwest Communications International said yesterday it has been given until Sept. 30 to release its audited 2002 annual report and first-quarter information for 2003.

>> French media giant Vivendi Universal winnowed a list of bidders for its U.S. entertainment assets yesterday, striking tycoon Marvin Davis from the candidates for the coveted film, television and theme park businesses, sources close to the company's board said.