Reported by Star-Bulletin staff & wire
Friday, November 20, 1998
Hawaii ranks 7th in traveler revenue
Hawaii ranks seventh among the 50 states and the District of Columbia in total spending by travelers, according to a study by the Travel Industry Association of America.The organization said tourists, business visitors and other travelers spent $14.1 billion in Hawaii in 1996. The state that saw the most traveler spending that year was California, at $62.6 billion. Unlike any other state, Hawaii got more than half its tourist money from international travelers, more than $7.3 billion vs. $6.7 billion in spending by U.S. travelers. Nationally, travelers spent $452.4 billion in 1996. The group said the numbers show the economic benefits of tourism.
Nordstrom seeks OK to open thrift
WASHINGTON -- Nordstrom Inc., the Seattle-based fashion retailer, has asked the U.S. Office of Thrift Supervision for permission to establish a unitary thrift charter bank in Scottsdale, Ariz. The thrift may offer such services as business credit card accounts, home equity lines of credit and money market checking, the company said.
Neiman net plunges 23% in 1st quarter
NEW YORK -- Upscale department store chain Neiman Marcus Group Inc. said first-quarter profits fell 23 percent to $25 million, but it easily beat Wall Street estimates and said cost-cutting and other measures should enhance performance throughout the fiscal year. Net income for the quarter ended Oct. 31 fell to 50 cents a share on revenues of $587.1 million from $32.6 million or 65 cents a share on revenues of $580.5 million a year ago.
FedEx pilots say no to holiday strike
MEMPHIS, Tenn. -- FDX Corp.'s Federal Express pilots said they won't strike during the busy holiday season and offered to restart negotiations toward a contract based on the company's last offer.Union leaders decided early this morning that a strike would do too much damage to the No. 1 overnight-delivery company, union spokesman Bob Clement said.
The union also said it will instruct pilots to resume working overtime and that it will delay a count of strike ballots scheduled for Dec. 3.
Pending stock split boosts Amazon.com
SEATTLE -- Amazon.com Inc. shares rose nearly 18 percent after the No. 1 online book and music retailer said it will split its soaring stock 3 for 1, the second split for the shares this year.Amazon.com rose $27.37 to $180.62 in late trading of 11 million shares, making it one of the most actively traded stock in U.S. markets.
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