BUSINESS BRIEFS
HEI carrying fewer notes
Advertiser Staff
Hawaiian Electric Industries Inc., the state's largest utility, said it sold $100 million of 6.141 percent medium-term notes on Tuesday, primarily to reduce the amount of commercial paper it has outstanding. In April Hawaiian Electric used commercial paper to refinance $100 million of 7.56 percent notes that matured, the company said in a filing at the U.S. Securities and Exchange Commission.
JACK IN THE BOX RESTAURANTS SOLD
Jack in the Box Inc said it is selling its 25 Hawai'i restaurants to local fast-food executive Chris Scanlan.
The San Diego-based restaurant chain said the restaurants will continue to operate under the Jack in the Box name under a franchise agreement. The sale price was not disclosed.
MACY'S OWNER RAISES FORECAST
CINCINNATI — Federated Department Stores Inc. reported better-than-expected second-quarter results yesterday and raised its forecast for the second half of the year as it converts more stores to the Macy's nameplate.
The company reported net income of $317 million, or 57 cents a share, for the quarter ended July 29, compared with $148 million, or 42 cents a share, a year ago.
STOCK OPTION SCHEME ALLEGED
NEW YORK — Three former top executives at Comverse Technology Inc., a leading maker of voicemail software, contrived to pocket millions of dollars by secretly manipulating stock options, authorities charged yesterday.
A criminal complaint unsealed in federal court in Brooklyn alleges that former chief executive Kobi Alexander, former finance chief David Kreinberg and former senior general counsel William Sorin conspired to falsify dates on which the options were granted.
