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The Honolulu Advertiser
Posted on: Friday, May 24, 2002

Business briefs

Banker named to Fed post

Michael E. O'Neill, chairman, chief executive officer and president of Bank of Hawaii, has been selected by the directors of the Federal Reserve Bank of San Francisco to serve as the bank's member of the Federal Advisory Council in Washington, D.C., for 2002.

O'Neill succeeds Steven L. Scheid, formerly of Charles Schwab & Co. Inc.

The council, comprising a representative from each of the 12 Reserve Bank districts, meets quarterly with the Board of Governors of the Federal Reserve System.

Cable & Wireless to lay off 25

London-based Cable & Wireless said about 25 of the 60 employees at the former Digital Island facility in Honolulu will be laid off as part of a move to consolidate operations after Digital Island merged with Exodus, another Cable & Wireless subsidiary, earlier this year.

Cable & Wireless, which bought Digital Island in 2001, is eliminating the network operations center from the facility at 1132 Bishop St.

In an updated filing with the state Department of Labor and Industrial Relations yesterday, the company said the layoffs will take place between today and Sept. 15.