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Business Briefs

Reported by Star-Bulletin staff & wire

Monday, March 5, 2001

Strong February in Hawaii stores

Hawaii kept up its retail recovery in February, with purchases paid for by check running 5.7 percent above the dollar volume in the same stores in the previous February, check-clearing agency TeleCheck Services Inc. said today. That was by far the biggest year-over-year increase in the nation.

The national increase was 2.6 percent and only Louisiana, boosted by Mardi Gras celebrations, came close to Hawaii's increase with a 4.8 percent rise, TeleCheck said.

Local construction contracts on rise

Hawaii construction appears headed for an increase as the value of contracts written for future jobs rose 76 percent in January, according to an industry monitor, the F.W. Dodge division of McGraw-Hill Cos. Contracts signed in January were worth $166.6 million, up 76 percent from $94.6 million in January 2000.

The biggest amount was $73.5 million for infrastructure construction, up 207 percent from $23.9 million in the year-earlier month. Residential contracts worth $48.4 million were up 16 percent from $41.7 million. Nonresidential contract dollars, for such jobs as commercial buildings and schools, were up 53 percent at $44.6 million, from $29.1 million in January 2000.

Rumored Amazon, Wal-Mart deal a hit

Shares of Amazon.com ended up 26.3 percent today after a published report said the online retailer was forming a strategic alliance with Wal-Mart Stores Inc.

Britain's Sunday Times said that under the deal, expected to be announced in six weeks, Amazon would handle Wal-Mart's online strategy. In return, Amazon would gain presence in Wal-Mart's stores.

In other news . . .

Honolulu-headquartered Barnwell Industries Inc. said today it will pay a dividend of 20 cents a share March 30, a one-third increase from its last dividend, paid Dec. 12. Barnwell, which has oil and gas operations in Canada and resort developments on the Big Island, does not post regular dividends but pays them when it makes money.