BUSINESS BRIEFS
Five cent increase expected in cap
Advertiser Staff and News Services
Hawai'i's cap on wholesale gasoline prices is expected to rise about 5 cents a gallon next week to $2.07 a gallon for regular on O'ahu, according to House Democrats.
That figure excludes taxes and a retail margin or mark-up. The state will disclose the official price cap levels for all islands today. Those prices will take effect Monday.
The law sets a maximum wholesale price, but retailers are free to charge whatever prices they choose.
MARRIOTT OFFICER GETS TRANSFER
Stan Brown, Marriott International's vice president for Pacific islands and Japan, has been promoted to Marriott's area vice president for China, Hong Kong, the Philippines, Vietnam, Malaysia and Korea.
Brown, who will move to Hong Kong in mid-March, will be replaced by Ed Hubennette, Marriott's area vice president for Southeast Asia.
Brown, a New Jersey native, came to Hawai'i in 1999 to oversee the regional operations of Marriott International and Marriott Vacation Club International.
DEAL GIVES CLOUT TO PIXAR'S JOBS
The Walt Disney Co. said yesterday it is buying longtime partner Pixar Animation Studios Inc. for $7.4 billion in stock in a deal that could restore Disney's clout in animation while vaulting Pixar CEO Steve Jobs into a powerful role at the media conglomerate.
Disney's purchase of the maker of the blockbuster films "Toy Story" and "Finding Nemo" would make Jobs the largest shareholder in Disney, with about a 7 percent stake. Jobs, who owns more than half of Pixar's shares and also heads Apple Computer Inc., becomes a Disney director.
NETFLIX SHARES RISE WITH PROFITS
Netflix Inc.'s fourth-quarter profit rose nearly sevenfold as the rapidly growing online DVD rental service continued to reshape the home entertainment market. The showing won rave reviews among investors yesterday as Netflix's stock price surged by more than 10 percent.
