Honolulu Star-Bulletin Local News
Business Briefs

Reported by Star-Bulletin staff & wire

Friday, October 25, 1996

Aloha Tower workers
to vote on unionizing

Maintenance and other blue-collar workers at Aloha Tower Marketplace are looking to form their own union.

Thirty-two employees of Aloha Tower Associates, developer and manager of the waterfront restaurant and retail complex, yesterday told the National Labor Relations Board that they want to organize under Laborers' International Union of North America Local 368.

"They're looking for their job security," said Randy Perez, an organizer for the union.

The employees, including engineers, maintenance workers and housekeepers, will vote Nov. 21 on the proposal to join the union, said Tom Cestare, the NLRB's local officer-in-charge.

30-year mortgages dip to 7.86 percent

WASHINGTON - Thirty-year, fixed-rate mortgages averaged 7.86 percent this week, down from 7.88 percent a week earlier, the Federal Home Loan Mortgage Corp. said in a national survey released yesterday.

On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.57 percent, down from 5.62 percent last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.37 percent this week, down from 7.39 percent a week earlier.

For more local, national and international business news,
see the Hawaii Inc. section in today's Honolulu Star-Bulletin.

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