Reported by Star-Bulletin staff & wire
Thursday, February 26, 1998
Carl's Jr. opens Waikiki restaurant
Hawaii's first full-service Carl's Jr. fast-food restaurant opened yesterday at 226 Lewers St. in Waikiki.Operated by a local partnership, Merrill of Waikiki, it is a franchise of Anaheim, Calif.-based CKE Restaurants Inc., which operates more than 700 Carl's Jr. outlets across the country. The partners plan to open 24 more Carl's Jr. outlets in the islands, two of them before the end of this year.
A smaller Carl's Jr. outlet was opened last year as part of a 76 Fastbreak gas station and convenience store at 2140 N. Nimitz Highway. That unit is run by Merrill Financial Corp.
A partner in the Merrill businesses is Pacific Restaurant Group which operates nine other restaurants in Hawaii, including the Yum Yum Tree and Jolly Roger brands.
30-year mortgages rise to 7.09 percent
WASHINGTON -- The average rate on the benchmark 30-year, fixed-rate mortgage increased to 7.09 percent this week compared with last week's 6.99 percent, according to a survey by the Federal Home Loan Mortgage Corp.The report also showed that the average rate on an adjustable mortgage rose to 5.65 percent from 5.59 percent last week. Fifteen-year mortgage rates, meanwhile, increased to 6.69 percent from 6.59 percent.
Milken pays $47 mil to settle SEC charges
NEW YORK -- Michael Milken, the former junk bond financier who served two years in prison for fraud, today settled for $47 million allegations by the Securities and Exchange Commission that he had violated a court order banning him from the securities industry.The SEC contended in a lawsuit filed in federal court in New York that the former Drexel Burnham Lambert Inc. executive's consulting work for News Corp. and MCI Communications Corp. represented an illegal attempt to re-enter the financial industry.
Milken agreed to settle the charges without admitting or denying wrong-doing.