BUSINESS BRIEFS
Pineapple lost ground in 2005
Advertiser Staff and News Services
PINEAPPLE LOST GROUND IN 2005
Hawai'i's pineapple production for 2005 declined 4 percent to 212,000 tons, according to preliminary figures from the U.S. Department of Agriculture.
The farm value of the 2005 crop is estimated at $79.3 million, or 5 percent lower than 2004's $83.1 million, according to the USDA.
Total sales of fresh pineapple in 2005 are estimated at 106,000 tons, for a 2 percent increase. But processed pineapple production is expected to show a drop of 9 percent to 106,000 tons.
The USDA noted last week's announcement that Del Monte Fresh Produce plans to plant its final Hawai'i crop on Feb. 19 but will continue to harvest and pack pineapples until it ceases Hawai'i operations at the end of 2008.
GAS CAP LIKELY TO DROP TO $1.94
The wholesale price of regular gasoline in Honolulu could dip about a dime to $1.94 a gallon on Monday, according to Advertiser calculations.
The state caps the price that wholesalers can charge for gasoline, but retail prices remain unregulated.
The cap prices are set once each week, based on Mainland prices, with adjustments for the cost of doing business in Hawai'i.
GM ANNOUNCES MORE COST CUTS
DETROIT — General Motors Corp., which says a return to profitability will require sacrifices from all involved, announced plans yesterday to rein in white-collar pension and healthcare expenses, slash the dividend and trim executive salaries — moves some analysts say suggest it might seek benefit cuts from union workers.
The cuts in health benefits for salaried retirees, planned changes to its pension plan for salaried U.S. workers and decision to cut in half GM's dividend all support the company's ongoing North American turnaround efforts, which already include plans to shed 30,000 hourly jobs and close 12 facilities by 2008.
The dividend cut alone will reduce GM's yearly cash payout by about $565 million.
