Reported by Star-Bulletin staff & wire
Tuesday, November 3, 1998
Tour wholesaler sold on mainland
One of the largest vacation businesses in the United States, Mark Travel Corp. in Milwaukee, has boosted its Hawaii tour business with the purchase of isle tour packager Blue Sky Tours Inc. The terms of the deal were not disclosed.Blue Sky, based in Albuquerque, N.M., and founded in 1981 by Jay and Dennis Odom, brings about 80,000 travelers to Hawaii each year. Bill La Macchia, president and chief executive of Mark Travel, said the acquisition will expand his company's Hawaii business, which already includes the recently purchased United Vacations and Starwood Vacations businesses.
Coca-Cola to enter bottled water biz
NEW YORK -- Coca-Cola Co. plans to take a piece of the $4 billion-a-year bottled water market by selling its own brand of purified water next year, The Wall Street Journal reported today.The soft-drink giant, which has sold mostly sugar water for the last 112 years, will introduce plain water in plastic bottles in selected markets early in 1999 and nationally later, said the Journal, citing people familiar with the company's plans.
SyQuest suspends its operations
FREMONT, Calif. -- SyQuest Technology Inc., which has been in red ink for three years, has suspended operations and may file for bankruptcy. Yesterday, the disk-drive maker asked Nasdaq to halt trading its stock, which was valued at just 34 cents, down from $4 a year ago. The company laid off 950 workers, half its work force, in August.
In other news . . .
MINNEAPOLIS -- K-tel International Inc. shares nearly doubled today after the music retailer said it will team up with Playboy Enterprises Inc. to form an online music store. K-tel, based in Minneapolis, closed up $6.37-1/2 at $13.25 in Nasdaq trading.
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