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Advertiser Staff and News Services
BANC WEST CORP., the parent of First Hawaiian Bank, said this morning it had completed its acquisition of 23 former First Security branches in New Mexico. Those branches will open tomorrow as branches of San Francisco-based Bank of the West, another BancWest subsidiary, the company said. The branches — 22 in Albuquerque and one in Las Cruces, N.M. — will add about $730 million in deposits and $130 million in loans to Bank of the West’s operations and represent the bank’s first foray into New Mexico. Bank of the West offered all 175 employees at the branches employment and created 30 new positions.
THE INTERNET WAS USED by more than half of the U.S. adult population last year, as some 16 million new users ventured online in the last six months, according to a study released yesterday. Nearly three-quarters of children ages 12 to 17 had Internet access, said the Pew Internet & American Life Project, which has been tracking Internet usage and habits since March. It said the online adult population has hit 56 percent, totaling 104 million adults.
PRESIDENT BUSH’S DECISION to roll back several government policies supported by organized labor — including one concerning union dues and politics — drew swift criticism on Friday from union officials who said they were never consulted. Bush is preparing four executive orders on separate aspects of labor policy, including one to make it easier for union workers to stop their dues from being used to pay for political activities. The others deal with union-management relations on government contracts and in the government’s own workplace.
WHOLESALE PRICES IN JANUARY TOOK their biggest leap in a decade, even as industrial production fell for a fourth month in a row. Natural gas prices soared at a record pace. Analysts said the figures portrayed an economy that was struggling but not in recession. Inflation has eased recently, they said, and a third report Friday showed housing construction flourishing. The reports come as Federal Reserve Chairman Alan Greenspan and his colleagues seek to stave off an economic downturn. While Friday’s mixed economic news could complicate matters for Fed policy-makers, economists continue to believe they will move to cut interest rates again next month.
INTERNET COMPANIES MAY BE SHEDDING employees by the thousands, but business has never been busier for e-recruiters. Last month, Monster.com had its biggest day ever the Monday after Super Bowl XXXV. Resumes are coming in at a 50 percent faster clip now than in December. CareerBuilder, HotJobs.com and Headhunter.net are all reporting record numbers of resumes. "The market is frenzied and getting crazier," said Monster.com chief executive officer Jeff Taylor. The reason: layoffs in the dot-com sector and growth in the number of "silent job seekers" who often look for better jobs while at work.
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