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Business Briefs

Reported by Star-Bulletin staff & wire

Friday, July 14, 2000

Kailua business wins SBA backing

Coastline International Inc., a trading company in Kailua that exports men's and women's clothing, has received a $400,000 loan guarantee from the Small Business Administration to help finance its operations. Linwood E. Mitchell, president of Coastline, applied for the support through the SBA's export working capital program. Rep. Patsy Mink, who announced the loan guarantee, said the program was designed to encourage banks to make short-term loans to finance export operations.

Schuler to build homes in Wailuku

Schuler Homes Inc. will build 58 single-family homes in Wailuku on land within the Dunes championship golf course. The Honolulu-based company said prices will start at about $323,000 for the homes ranging in size from 1,507 square feet to 2,235 square feet. The company said the homes will be within a gated community called the Island of Mauna Lani. Sales were to start today and the first houses are expected to be done by the end of this year, Schuler said.

Senate declines to suspend gas tax

WASHINGTON -- The Senate voted overwhelmingly against suspending the federal gas tax through the November election, as some Senators called the measure an attempt to cozy up to voters at the expense of the nation's roads and highways. The amendment required that 60 senators vote to bypass the law governing the nation's budget. But it was defeated yesterday when only 40 senators agreed to waive the law. An additional 59 voted against waiving the budget law, including 15 Republicans. Despite cries from voters for relief from record-high gas prices, foes denounced the measure, saying it would suspend 18.3-cents-a-gallon of the federal gas tax for 150 days, or until after the November elections, and then re-institute it.

In other news . . .

Bullet MINNEAPOLIS -- Cereal maker General Mills Inc. offered $10.5 billion in cash and stock for Diageo Plc's Pillsbury unit, people familiar with the talks said.





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