Reported by Star-Bulletin staff & wire
Tuesday, April 22, 1997
Young Brothers Ltd. has asked the Public Utilities Commission to approve an 8.2 percent increase on interisland ocean-freight rates to offset the effects of the state's poor economy and more competition. Young Brothers seeks
8.2% hike in ratesState Consumer Advocate Chuck Totto said Young Brothers doesn't deserve that much of an increase. He has filed a protest with the commission.
Totto said the interisland barge company has been granted rate increases totaling 24 percent over the past four years. He said that in itself can cause the company to lose revenues because fewer customers can afford to ship goods at the higher rates.
Young Brothers is a subsidiary of Hawaiian Tug & Barge Corp., a unit of Hawaiian Electric Industries Inc.
LAS VEGAS -- A judge has ruled ITT Corp. can delay its annual shareholders meeting through November, thwarting an effort by hostile bidder Hilton Hotels Corp. to force it to hold the gathering next month. Hilton loses a round
in fight for ITT Corp.Hilton wanted an earlier annual meeting to push its $6.5 billion bid for ITT, which owns Caesars World casinos as well as the Sheraton hotel chain.
TOKYO -- Nomura Securities Co., rocked by a scandal over shady stock deals allegedly made for racketeers, announced today that its president was resigning and 15 other senior executives would be demoted. Nomura President Masashi Suzuki will resign on May 1 as president, a post he assumed last month, but he will continue as chairman. In other news . . .