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The Honolulu Advertiser
Posted on: Friday, July 8, 2005

Travel stocks plunge in Japan

Advertiser News Services


NATION WORLD

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Shares of Kinki Nippon Tourist Co., Japan's second-largest tour agency, plunged with other travel-related stocks in Asia, on concern tourists will scrap summer visits to Europe after yesterday's terrorist attack in London.

Shares of Kinki Nippon, which organizes package tours to Europe and Southeast Asia, plunged as much as 6 percent. Shares of Japan Airlines Corp., the country's largest carrier, fell as much as 1 percent. H.I.S. Co. Ltd., Japan's largest discount travel agent, fell as much as 1.9 percent.

"Japanese travelers may be scared to travel to the U.K. and other European nations," said Yoku Ihara, head of equity research at Retela Crea Securities Co. in Tokyo.


CARS.COM BUYS NEWCARS.COM

Cars.com, an online automotive marketplace, said yesterday it has acquired NewCars.com, which matches car shoppers with dealers. The company did not disclose the purchase price.

Cars.com is owned in part by the Gannett Co, publisher of The Advertiser.


EX-CEO TO GET $43.9M BONUS

Former Morgan Stanley Chairman and Chief Executive Phil Purcell, 61, will receive $43.9 million in bonus money, $250,000 per year for life, health benefits and even office help as part of his severance with the company he led for eight years.

Under the agreement filed with the Securities and Exchange Commission yesterday, all of the awards and perks are contingent on Purcell's staying away from Wall Street.


EX-WORKER WINS MCDONALD'S SUIT

A jury ruled yesterday that McDonald's Corp. discriminated against a restaurant manager who claimed he was forced out of his job after the company learned he had AIDS.

The jury awarded Russell Rich of Akron $490,000 in damages in the second trial on his claim against the fast-food chain. Rich, 41, won $5 million in a 2001 trial but that verdict was overturned on appeal, based on faulty jury instructions from the judge.