Posted at 1:23 p.m., Wednesday, March 29, 2006
BUSINESS BRIEFS
Gas cap unchanged next week
Advertiser Staff
The maximum wholesale price for gasoline will remain unchanged at $2.18 a gallon Monday for regular on O'ahu, according to the state Public Utilities Commission.That price excludes taxes and a retail markup. Hawai'i sets a ceiling on wholesale prices but does not regulate retail prices. State lawmakers are considering amending and repelling the controversial law. Under the proposed amendments to the cap, next week's wholesale price cap for regular on O'ahu would be $1.97 a gallon, or 21 cents a gallon lower than this week's cap, according to Advertiser calculations.
BancWest Corp. to no longer file with SEC
BancWest Corp., parent company of Bank of the West and First Hawaiian Bank, said the company will discontinue filing financial statements with the Securities and Exchange Commission after the filing of a 10-K report today.
BancWest ceased to be a publicly traded company in December 2001 after BNP Paribas acquired all outstanding shares of its common stock. BancWest continued as a voluntary reporter with the SEC, based upon outstanding trust preferred securities. Those securities were redeemed in full in December, 2005.
"Since BancWest has no outstanding public securities, our Board has determined to discontinue filing public reports with the Securities and Exchange Commission," said BancWest Chief Executive Officer Don McGrath. "While this will reduce the visibility of BancWest, our principal subsidiaries Bank of the West and First Hawaiian Bank will continue to announce operating results, and file regular financial reports with Bank regulatory agencies."