The Honolulu Advertiser from Honolulu, Hawaii • 25

i-pfrmr t't t' rT''iy'ryTftyv'y'TyTt-'y't''r''T'r B8 The Honolulu Advertiser "Friday, November 22, 1996 Business Editor Jlene Aleshire, 525-8062 to of 112196 I Isli (Simple interest rates based on a deposit amount of I 8 $2,500.) All rates 2 5 are expressed as I 5 annual percentage v. yielijs. ir 2 i Ai-neman Savings 105 Jm 14S 4.70 Bank of Hawaii 2.53 3.45 4.34 4.40 First Hawaiian ton 253 lib" 4 First Hawaiian Creditcorp 3.05 3.25 4.75 5.25 First Federal 25Q" 175 4lfl Bank of America FSB 2.53 3.25 4.50 4.75 Bank of Honolulu A NA NA; Finance Factors 2.80 3.30 5.25 5.50 rites not available as of last night In) Outrigger chairman invests in casino Move comes ahead of summit ilS frr i Tinier Associated Press U.S. Trade Representative Charlene Barshefsky, left, has demanded that Japan implement its previous commitments to open up its insurance and car markets further. Meanwhile, a worker in the Philippines helps prepare for the APEC summit, which begins Monday.

1 ljy Jit-Yeon Kim Associated Press MANILA The United States yesterday pressed Japan to resolve trade disputes over cars and access to insurance markets, days before a Pacific Eim economic summit. Acting U.S. Trade Represen- tative Charlene Barshefsky and Japanese Trade Minister Shinji Sato held talks in Manila in advance of the 18-government Asia-Pacific Economic Coopera-1 tion summit beginning Monday at Subic Bay. The Philippines has deployed 26,000 soldiers, police and security agents to protect President Clinton and 17 other Pacific Rim leaders attending the summit. In yesterday's talks, Barshefsky demanded that Japan implement its previous commitments to open its insurance and car markets wider.

The countries agreed to work together to persuade APEC to cut tariffs on information technology products. APEC has set a goal of elimi nn nating trade barriers among its member countries by 2020, but Japan wants that to occur much more quickly, by 2000. The two ministers also agreed that their semiconductor industries should reach an accord soon to prevent the dumping of microchips, a Japanese official said on condition of anonymity. Barshefsky also spoke with Australian officials, but no details of those talks were available. The United States has asked the World Trade Organization to address its complaints that an Australian export-import policy discriminates against American companies.

Moving toward free trade is a slow, step-by-step process for APEC, complicated by its hugely differing economies that range from Papua New Guinea to the United States and Japan. Yesterday, 1,000 protesters, including priests and nuns, urged APEC not to forget the needs of Asia's poor. At least two marchers were arrested as 200 of them broke through a po- futtff wmmmimm im' lice cordon and held a brief rally several hundred yards from the presidential palace. The protesters, who carried effigies of Clinton and Philippine President Fidel Ramos, believe free trade will hurt poor farmers and small businesses by opening the door to powerful multinational firms. "We are not against regional development," said Liddy Alejandro of the Freedom from 41 ''J APEC pNESS Debt Coalition.

"But we want the APEC leaders to talk about how to uplift the majority of the poor people of the world from poverty." APEC consists of Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand and the United States. 7 herited the old hierarchy where rank equaled responsibility, and it doesn't work in today's world," Hesselbein said. "And so I think all of us are trying to find more fluid and flexible structures that release people to be creative and productive." Such open-ended thinking may seem antithetical to the buttoned-down concerns of many American corporations-producing profits for shareholders, no matter what the toll on workers. But Hesselbein said those organizations who ignore the needs of their workers will pay the consequences. Intimidate long enough and you're out of business," she said.

"The future is tenuous; it will be difficult for an awful lot of people. And we need to learn how to work with people and build a tA HAWAII I i Sheraton Maui ends. 2-year remodeling I A newly revitalized i Sheraton Maui held a reopening ceremony yesterday after a two-year, $150 million redevelopment. The hotel, the first built at the Kaanapali Resort, is considered almost new, given the extensive work done on it. The redevelopment project? included building five I structures and a complete renovation of the two I remaining older buildings.

Two restaurants have been along with more meeting facilities and expansion of the 518-room hotel's parking. Businesses offered new health package The Hawaii Medical Services Association is offering a new health care package to businesses and says the program will allow employers to save up to 18 percent on premiums. Called Choice Medical, the plan allows employers to offer three health plans to employees: Preferred Provider Plan, Health Plan Hawaii Plus and Queen'sHMSA Premier Plan. When employees choose either the Health Plan Hawaii Plus or Queen'sHMSA Premier, it I will reduce employer I contributions. Choosing this new plan will allow employers to consolidate billing and plan administration.

First Hawaiian increases dividend 1 First Hawaiian Inc. has increased its quarterly divided to 31 cents a share, payable Dec. 13 to stockholders of record as of I Nov. 29. The quarterly dividend previously was 29.5 cents a share.

The last time First Hawaiian raised its dividend was in the 1993 fourth quarter. NATION ft WORLD Japanese regulators close Hanwa Bank For the first time in 50 years, Japanese financial regulators ordered a commercial bank to close permanently, saying it was on the verge of collapsing under a heap of bad debt. Some analysts praised the closing of Hanwa Bank as a sign that Japanese authorities are taking a 3 more aggressive approach toward cleaning up the bad I loan problem dogging the nation's banking system. Regulators apparently moved to shut down Hanwa to avoid a run on deposits, IBM mainframe offers more for less IBM Corp. plans to unveil 1 next week a more powerful 1 mainframe computer that will allow businesses to process more information for a lot less money than existing older models, industry sources said.

i The new IBM computer is a heartier version of a 4 System 390 model introduced by IBM in September processing the same amount of information as much as 10 percent faster. The System 390 1 models are the third '3 generation in a redesigned series International Business 1 Machines Corp. launched in 1994. More briefs, Page B5 By Frank Cho Advertiser Staff Writer A 25-acre hotel and casino development in Mesquite, is moving forward again, thanks to Outrigger Enterprises Chairman Richard Kelley. The Hawaii-based hotel owner and operator personally provided about $5 million in bridge financing to Nevs-tar Gaming Corp.

of Las Vegas while the company prepares for a stock offering expected sometime in the first quarter of 1997. Nevstar Gaming hopes to raise about $10 million Kelley: Helps developers of Mesquite hotel to $12 million through the Initial Public Offering to help finance construction of a 200-room hotel and casino in this small town of 5,000 inhabitants 75 miles northeast of Las Vegas. Kelley said it was a personal investment and he does not own any part of the project. But he is negotiating options on the loan with the developers are planning similar projects around Nevada. The loan is secured by the 25-acre parcel that sits along U.S.

Highway 15, which runs from San Diego through Nevada and into Utah. "This is the kind of stuff that banks don't usually touch," Kelley said. Kelley said he is gaining valuable experience about the gaming industry through his involvement. That might come in handy if the state decides to allow casino gambling in Hawaii in the future. Outrigger Hotels Resorts, a division of Outrigger Enterprises, is the state's largest lodging and hospitality company and owns or manages 30 properties throughout Hawaii and Micronesia.

Outrigger Lodging Services, an Outrigger affiliate, manages nearly two dozen hotels and resorts on the Mainland. Mesquite is a small desert community founded by Mormons in late 1800s. A group led by entertainer and casino developer Merv Griffin just completed the Players Island hotel and casino development there. The area is being touted by developers as a resort community with its first 18-hole golf course, and as place for people to have the gaming experience of Las Vegas without the crime and panhandling. Called the Mesquite Star, the planned hotel will cater to locals and drive-by traffic on U.S.

Highway 15. "I think this is a niche market, what I call the Robert's Overnighter business," Kelley said, referring to a Honolulu company that sells weekend See Outrigger, Page B5 cohesive organization where they feel that their strengths and what they bring are very Important to the results." Favorite Hesselbein corporations are Hewlett-Packard and ServiceMaster; both are successful in large part because they hold their workers in high regard, she said. But other American companies have still not gotten that message. "I would say far too many (American companies) have not yet begun to think of their people as their greatest asset," she said. "When you have an energetic, highly motivated work force, performance and morale just soar.

You don't get magnificent performance from dispirited workers who feel they are not appreciated." Ship of SLICE vessel will be launched Tuesday for tests By TomKaser Advertiser Staff Writer 1 Honolulu shipyard next week will launch an experimental "ship of the future" with an unusual design intended to allow the vessel to slice through the water with less wave resistance, producing a smoother ride, requiring smaller engines and consuming less fuel. Called SLICE, the four-hulled, 180-ton ship will undergo several months of sea trials before it is ready for a variety of potential military and commercial uses, including operation as an interisland ferry ideal 4or Hawaii's choppy channels. The ship, built by Pacific Marine at its Honolulu Shipyard, will be launched Tuesday at Pier 41. Much of its $12.3 million development has been funded by the U.S. Office of Naval Research, given in the military's interest in the vessel.

The ship is similar to the twin-hulled Navatek I and Na-vatek II, also built by Pacific Marine and used in offshore cruises by Royal Hawaiian Cruises, a Pacific Marine The three ships are similar in that they are semi-submerged iwith hulls are below the wa- terjine. Their separate-but-. attached superstructures are above it. But each has a slightly different hull design that affects speed and stability differently, 4Jts? Cory LumThe Honolulu Advertiser Technicians prepare the SLICE water vehicle at Pier 41 for its test run Tuesday. The 180-ton ship, built by Pacific Marine, will undergo months of testing before it is ready for any commercial or military use.

"We mainly looked at whether there's a sufficient passenger market for an interisland ferry system that has three qualities: It's reliable, it's fast and it delivers a smooth ride." Steven Loui, Pacific Marine president Workplace expert tkrows out the totem pole says Pacific Marine President Steven Loui. The Navateks which are of the design called SWATH, for "small waterplane area twin hull" are like catamarans riding atop two underwater torpedoes. SLICE, which is 105 feet long and will carry at least 250 passengers, has four teardrop-shaped hulls that Loui says See SLICE, Page B5 Hesselbein, who rose to management fame by breathing life into the moribund Girl Scouts of the USA, is in Honolulu today to speak at the National Philan Hesselbein: Put top manager in the center thropy Day at the Sheraton Conference Waikiki Hotel. Later she will address members of the University of Hawaii's executive MBA program. Hesselbein retired from the Girl Scouts' executive suite in 1990.

She now is president and chief executive officer of the Peter F. Drucker Foundation By Susan Hooper Advertiser Staff Writer Forget about Dilbert, that dispirited cubicle dweller with the witless manager. Frances Hesselbein, a New York management guru, says the popular cartoon character does not represent most workers in today's corporate America. "I think here and there you find organizations or corporations where this probably prevails, but this has not been my experience," Hesselbein said in a telephone interview from her New York office this week. "I think today most organizations, whether public, private or nonprofit, are really trying to manage well.

They're trying to reduce the rigidity of the old for Nonprofit Management, and she writes and lectures widely on management and leadership. Hesselbein thinks organizations retain the old hierarchy of top-down management at their peril. She prefers "circular management," which places the leader in the center of the organizational chart and managers at various points along three concentric circles around that center. That way, she said, "People and functions move easily across the organization, and that's how you banish up and down from your vocabulary." What's the point of this new arrangement? It gives all members of the organization the freedom to do their best work, she said. "Almost every company in- t1 r.

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