Friday, January 26, 2001
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Posted on: Friday, January 26, 2001

Business Briefs
World gymnasts coming to O'ahu

Advertiser Staff

Honolulu has won rights to be the host city for a nationally televised gymnastics competition March 30-31 involving the national teams of China, Romania, Japan and the United States. The Hawai
i Tourism Authority said the Islands beat out New York City, Houston and Milwaukee to stage the USA Gymnastics Pontiac American Team Cup at the Neil Blaisdell Center.

The tourism authority will pay a $70,000 fee, but will gain about 10 times that amount in media exposure, including vignettes of local scenery, said Tom Kiely, president of sports marketing consultant Team Unlimited of Honolulu. NBC Sports is scheduled to broadcast a total of four hours of taped programs from the competition on April 7 and 14.

A&B to buy back more shares

Alexander & Baldwin’s board of directors yesterday approved the continuation of the company’s share repurchase program, authorizing the purchase of as much as a million shares of the company’s common stock.

In December 1996, the board authorized the repurchase of 3 million shares. As of early 1999, the company had acquired nearly 2.4 million shares under the program when it authorized the repurchase of another 2 million. A&B’s share price dropped 45 cents yesterday to close at $27.48.

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