Reported by Star-Bulletin staff & wire
Thursday, January 29, 1998
Hard Rock Cafe plans Big Island restaurant
Kona will get a Hard Rock Cafe this fall, a 6,100-square-foot, two-level restaurant with seating for 111.Hard Rock Cafe Kona will be a free-standing wooden building in an old Hawaiian style, located in the new Coconut Grove Marketplace.
Designed with a view of the bay, the cafe will include a Hard Rock merchandise shop. The operator, Hard Rock Cafe International Inc., already has eateries in Honolulu and on Maui.
City Bank adds hours at 11 Oahu branches
Starting Monday, City Bank's 11 branches on Oahu will be open an extra hour and a half each day. The bank said the open-close hours will vary from branch to branch but all will be open 90 minutes longer.Customers will be notified of the new hours by mail, said Ronald K. Migita, chief executive officer of the bank, a subsidiary of CB Bancshares Inc. He said the decision was made after a 90-day test of longer hours at the Kalihi branch. The bank also will open its Kapolei branch on Saturdays from 9 a.m. to 1 p.m., Migita said. Currently, the Kalihi branch is the only one open on Saturdays.
30-year mortgages climb to 7.12 percent
WASHINGTON -- Mortgage interest rates rose sharply this week to the highest level in seven weeks. The average rate on 30-year fixed-rate mortgages increased to 7.12 percent this week from 6.99 percent last week, Freddie Mac, the mortgage company, said today.It was the largest weekly rise in nine months.
Fifteen-year mortgages averaged 6.70 percent this week, up from 6.56 percent last week. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.59 percent, up from 5.53 percent.
Compaq bumps IBM off Radio Shack shelves
Compaq Computer Corp., slighting IBM for a second time this week, has talked Radio Shack into replacing Big Blue personal computers with Compaq PCs in the nation's largest consumer electronics chain.The announcement yesterday came two days after Compaq agreed to buy Digital Equipment Corp. in a threat to another International Business Machines Corp. big business: Helping firms set up, run and service their computer networks. Radio Shack's 7,000 stores will start selling Compaq Presarios instead of IBM Aptivas in March.