WASHINGTON >> President Donald Trump has reached an informal deal with Boeing to provide the next generation of presidential aircraft, the White House says.
Deputy press secretary Hogan Gidley said Tuesday that the president negotiated a $3.9 billion “fixed-price contract” for the new 747-800 planes, known as Air Force One when the president is on board. It follows years of negotiations between Boeing and the U.S. Air Force — and Trump’s personal intervention since his election.
In December 2016, Trump tweeted that costs for the program were “out of control, more than $4 billion.” He added, “Cancel order!”
Boeing CEO Dennis Muilenburg met multiple times with Trump to discuss the Air Force One contract, most recently last week.
Boeing, in a statement, said it is “proud to build the next generation of Air Force One, providing American presidents with a flying White House at outstanding value to taxpayers.”
“President Trump negotiated a good deal on behalf of the American people,” it said.
Gidley said the agreement would save taxpayers more than $1.4 billion, but it remains unclear exactly how that number was calculated.
Walmart launching new clothing brands
NEW YORK >> Walmart is launching new private-label clothing brands, a move its rivals Target and Amazon have made as well.
The world’s largest retailer is unveiling four new lines for women, men and children with items from $5 to $30 that will be available Thursday. It’s the most ambitious clothing launch in years for the Bentonville, Ark.-based company, which is trying to shed its just-basics image and become a destination for trendier products from food to home design.
Walmart says the move comes in response to its customers’ desire for more fashionable items like skinny jeans, ruffled clothes and bohemian looks.
Online leader Amazon and discount rival Target also have been building their own clothing brands, a move that helps boost profit margins because it eliminates the middleman and is exclusive to that retailer.
ON THE MOVE
Bank of Hawaii has announced the following new vice presidents:
>> Steve Araki has been promoted to vice president and director of IT infrastructure operations from assistant vice president and IT manager. He started as a computer programmer at Bank of Hawaii in 1993. Araki has served in various positions in the bank’s IT department.
>> Rochelle Ingano has joined Bank of Hawaii’s Enterprise Project Management Office as a vice president and project manager. Ingano has served in various positions for more than 30 years in the financial services industry, including working at First Federal Savings and American Savings Bank.
