Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, August 19, 1997

King Street parcel
on market for $8.1 million

The Malama Group is selling a 45,000-square-foot King Street parcel for $8.1 million.

Malama, a unit of Hawaiian Electric Industries Inc., put the largely vacant lot for sale about five weeks ago, said Dana Peiterson, vice president of investment properties at CB Commercial Real Estate Services Corp., which is the broker.

Peiterson said the sellers have received substantial interest but no formal offer.

The fee-simple property is located next to the under-construction One Archer Lane residential complex and extends to Cooke Street. The parcel has a mixed-use zoning, meaning that it can be used for housing, warehouses and retail development, he said.

Microsoft-Apple deal
draws federal scrutiny

WASHINGTON -- Microsoft Corp.'s $150 million investment in Apple Computer Inc. is being examined by Justice Department antitrust investigators, who have spent four years probing whether the world's biggest personal computer software company uses its market clout to diminish competition.

A Justice Department spokeswoman confirmed the antitrust division is seeking information about the investment and is also reviewing three Microsoft investments or acquisitions in companies involved in the developing market for transmitting high-quality video and sound over the Internet, Bloomberg News reported.

When Apple stunned the computer world earlier this month by disclosing that Microsoft would buy a nonvoting stake in its troubled rival, antitrust experts predicted the investment would draw notice from the government but probably wouldn't create significant antitrust problems.