Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, April 7, 1999

Big Island project receives zoning OK

Barnwell Industries Inc. said it has received final zoning approval from the Hawaii County Council for its proposed 1,000-acre golf, residential and commercial development at Kaupulehu, in the North Kona district.

Morton H. Kinzler, chairman and CEO of Honolulu-based Barnwell, said the approval allows the company to go ahead with final desing work. The development is subject to a legal challenge and also needs the approval of Big Island Mayor Stephen Yamashiro. But Kinzler called the council approval a major step forward after six years of work on the zoning. Barnwell, an oil and gas exploration company that mostly works in Canada, is the majority managing partner in Kaupulehu Developments.

Cadinha & Co. forms institutional unit

The Honolulu-based investment firm Cadinha & Co. has formed an institutional services division to assist institutional investors. Cadinha also advises individuals, families and businesses. The new division is headed by Victor A. Canto, chairman and found-er of La Economics in California. Cadinha, founded in 1979, has offices in Nash-ville, Tenn., and Phoenix.

Yahoo! earnings beat expectations

SANTA CLARA, Calif. -- Yahoo! Inc., the No. 1 Internet search directory, beatexpectations by reporting that first-quarter net income rose more than sevenfold, buoyed by higher advertising and e-commerce revenue. Yahoo! said net income rose to $25.1 million, or 11 cents a share, from $3.3 million, or 2 cents, a year ago. Per-share earnings exceeded the average estimate of 8 cents a share, Bloomberg News reported. Revenues almost tripled to $86.1 million from $30.6 million in 1998's first quarter.

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