Reported by Star-Bulletin staff & wire
Thursday, April 17, 1997
The U.S. Small Business Administration's small business person of the year is Jon De Mello, chief executive of Mountain Apple Co. Inc., a recording company that has led the resurgence of Hawaiian music and expanded into an international entertainment company distributing audio and video recordings. SBA honors
Mountain Apple's De MelloThe SBA announced awards that will be presented at a luncheon May 22 leading up to Small Business Week June 1-7.
Top small business representatives from the individual counties are: Oahu, Randal M. Hiraki, Commercial Plumbing Inc.; Hawaii, David L. Palmer, restaurateur; Maui, David and Patricia Chevalier, owners of Blue Hawaiian Helicopters; Kauai, Gary Baldwin, owner of National Car Rental and Baskin Robbins franchises and Da Crusty Gecko Bakery.
Hawaii exporter of the year is Kent Untermann, owner of Pictures Plus, and Robert Iwamoto Jr., president of Robert's Hawaii, won the award for entrepreneurial success.
Awards went to John C. Lee, owner of the JIJI Inc. retail business, young entrepreneur of the year.
Signe Godfrey of Olsen Staffing, Gail Walker of Hamakua Health Center and Linda Herman of Cardservices International won as women business advocates.
The minority small business person of the year is Derek Kurisu of KTA Superstores on the Big Island.
WASHINGTON -- Home mortgage rates were little changed this week as signs that inflation remains under control kept interest rates steady, the Federal Home Loan Mortgage Corp. said today. Thirty-year mortgages
up to 8.16 percentThirty-year fixed rate mortgage rates edged up to 8.16 percent this week from 8.15 percent last week, according to a national survey by Freddie Mac.
Fifteen-year mortgages inched upward to 7.71 percent from 7.67 percent. One-year adjustable mortgages dipped to an average 5.89 percent from 5.91 percent.
A year ago, the 30-year rate averaged 7.95 percent, the 15-year 7.48 percent and the adjustable loan 5.75 percent.
WASHINGTON -- America's trade deficit narrowed slightly to $11.6 billion as increased demand for civilian aircraft and chemicals helped push U.S. exports to a record high, offsetting a continued flood of imports. The deficits with Japan and China both declined slightly. U.S. trade deficit fell
slightly in FebruaryThe Commerce Department said today the February imbalance was 8.5 percent lower than January's deficit of $12.7 billion. That figure had been the highest on record since the government switched to a new system of tracking the monthly flows of both goods and services.
Even with the slight improvement, the deficit for the year was running at an annual rate of $145.6 billion, a sharp deterioration from an imbalance of $114.3 billion for all of 1996.
The 1996 deficit was the worst in eight years and economists are predicting it will widen this year with growing demand for imports and as the strong dollar dampens sales of exports.
REDMOND -- Microsoft Corp. reported fiscal third-quarter earnings far above Wall Street estimates, powered by demand for its Office 97 software. Net income surged 85 percent to $1.04 billion, or 79 cents a share, from $562 million, or 44 cents, in the year-earlier period. Revenue rose 45 percent to $3.21 billion for the quarter ended March 31, up from $2.21 billion. Microsoft earnings beat
estimates; stock jumpsWall Street expected earnings of 63 cents a share, based on the average estimate of 22 analysts from IBES International Inc.
Microsoft shares rose as much as $4.875, or 5 percent, to $103 in after-hours trading.