BUSINESS BRIEFS
Shipper seeks another rate hike
Advertiser Staff and News Services
Interisland shipping company Young Brothers Ltd. is seeking a rate increase just two weeks after increasing fees by 5.5 percent.
The Honolulu-based company notified the state Public Utilities Commission of its request, but did not say how much of an increase it wants. Young Brothers plans to file an application in December and hopes to have the new rate increase approved around July.
Catherine Awakuni, executive director of the state Division of Consumer Advocacy, said she was not expecting a request by Young Brothers so soon after the 5.5 increase, which was approved by the state last month.
KEALOHA NAMED CEO OF BUREAU
The Better Business Bureau of Hawaii has named Dwight Kealoha as its chief executive.
Kealoha, a retired U.S. Air Force brigadier general, will assume the post Wednesday. He replaces interim CEO Bonnie Horibata, who will remain with the organization.
Kealoha, 62, previously was vice president at Kuhana Associates LLC, an information technology consulting firm, and Kuluku LLC, a construction firm.
NEW NAME, LOOK FOR KAUA'I RESORT
The Kauai Beach Hotel & Resort officially became the Hilton Kauai Beach Resort today after completing an $18 million renovation. The resort features 350 condominium hotel units and waterfalls and rockscapes surrounding four swimming pools. The Hilton Kauai Beach Resort is operated by Anekona Management LLC under a franchise license agreement with Hilton Inns Inc., a wholly owned subsidiary of Hilton Hotels Corp.
CHEVRON LOGS RECORD $5 BILLION PROFIT
SAN RAMON, Calif. — Chevron Corp.'s quarterly profit surpassed $5 billion for the first time, putting an exclamation point on the oil industry's latest earnings bonanza.
Topped off by record results released yesterday by Chevron, five of the world's largest oil companies produced a combined net income of $31.6 billion during the three months ended in September. None of the brethren grew faster than San Ramon-based Chevron, whose third-quarter profit rose 40 percent from last year.
TAURUS IS OUT, AS WELL AS 1,950 JOBS
HAPEVILLE, Ga. — The last Ford Taurus sedan rolled off the assembly line yesterday and 1,950 jobs went with it.
The Atlanta Assembly Plant, which had been producing cars since Harry S. Truman was president, was closed. The nation's second-biggest automaker announced 10 months ago it would close the plant as part of a reorganization plan to boost Ford Motor Co.'s profits.
