Aloha Hawaii, Foreign Currency News and Oil!
U.S. Business
The
spotlights the 50th state today with a look at its new high-tech edge and its
bargain allure in the wake of Asian turmoil.
In other Aloha State news, the
Mauna Loa Macadamia Partners
(NUT)
had a "55.6% drop in fourth-quarter income and warned that the current drought on the Big Island could significantly reduce macadamia nut production this year." In the
.
The
Washington Post
reports that Indonesia's
President Suharto
TheStreet Recommends
has told
President Clinton
that the
International Monetary Fund
is failing to stem his country's financial crisis -- and that's why he needs to make drastic changes to Indonesia's monetary system. (wink, wink)
Japan's parliament enacted a bank stabilization bill, but a widening banking scandal could be problematic. Also in the
Washington Post
.
"You stay home. I go to work," Susan informed her younger sister, Carolyn, who had the role of
Ken
.
"But that's not fair!" wailed Carolyn.
"You got downsized, silly. Downsized means you lost your job."
"But I don't want to be downed," the younger child said.
"It's not downed. It's downsized," Susan said. "And there's nothing you can do about it. Anyway, that's what happened to Daddy, remember?"
Carolyn paused. "Is that why he's home more?"
"Yup, and it's why Mommy's going to get another car, and Daddy's in school sometimes, and why we get to play with him."
"Oh," brightened Carolyn. "OK."
The
looks at how
Barbie
and Ken may live in a Dream House, but reflect '90s reality.
It's not just for little girls anymore. The
reports on the big business of figure skating.
Business Abroad
The
Telegraph
reports that
Somerfield
and
Kwik Save
have disclosed that they are in merger talks.
They are Texans after all...
Texas Utilities
(TXU)
is trying to top
PacifiCorp's
(PPW)
offer for
The Energy Group
. Also in the
Telegraph
.
In other energy news, the
reports that
Shell
(RD)
and
Chevron
(CHV)
have "joined forces to develop their energy interests in the Caspian Sea region."
Norsk Hydro
(NHY)
, Norway's biggest quoted company, and
Statkraft
, the state-owned electricity transmission group, along with
National Grid
(NGGPY:Nasdaq ADR), are studying a the feasability of an electricity cable from Britain to Norway to either export or import power. In the
Telegraph
.
Personally, I am convinced that Norwegians can do anything after watching the
Discovery Channel's
Mega Machines:Skyscraper at Sea
, a documentary about the
Troll
, the world's largest oil rig. Check it out: Feb. 22 at 7 p.m. EST.
Ooh, the
Spice Girls
must really be a sore spot. The
reports that Mike Metcalf, chief executive of
Thorn
(
(THRNY)
THRNY ADR) since its ill-fated demerger from
EMI
, resigned yesterday as the company issued its third profits warning.
Who knew they had Hoyts in Australia? In other entertainment news, the
Sydney Morning Herald
reports that the success of
Titanic
has boosted
Hoyts Cinemas'
annual profit after it posted a 25.2% jump in net earnings for the December half.
Ye of Little Faith
The
reports that Helmut Hofer, 56, a German businessman condemned to death by stoning for allegedly making love to an Iranian medical student, might be spared if he can prove that he was a Muslim at the time. Herr Hofer's defense team argues that the Hamburg man had converted to Islam and that he is only guilty of kissing an unmarried 27-year-old woman.
First it's the
Queen
, now it's the Queen's religion! The
Sydney Morning Herald
reports that attendance at Anglican churches is at an all-time low and that Anglican priests are suffering from immense stress. But, it seems that the
Rev. Tony Galea
, former electrical contractor, rock musician and at one time aspiring Eastern Suburbs rugby league player, has found the answer and some divine inspiration by dressing as a clown and riding a bike down the aisle as an opening gambit for the children's talk.
