Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, October 15, 1997

Business help offered to native Hawaiians

Native Hawaiians interested in starting their own businesses will be able to take a course of 11 three-hour classes starting Monday at the Kokokahi YWCA in Kaneohe.

The cost is $55. Working with mentors and professional consultants in the classes, the entrepreneurs will develop formal business plans and may be eligible for a startup loan from the Office of Hawaiian Affairs.

OHA hired the accounting and management firm, Grant Thornton, LLP, to run the classes.

For information on the Micro Enterprise Training Program, aimed at businesses requiring capital of $10,000 or less, call 536-0066, extension 289.

Intel's latest forecast disappoints investors

SAN JOSE, Calif. -- Intel Corp.'s latest results disappointed Wall Street, not so much with lackluster third-quarter profits but with its warning that the usually robust fourth quarter likely wouldn't be any rosier.

"The shocker here is Intel is basically indicating that we aren't going to see any upside this year," said Drew Peck, an analyst with Cowan & Co. in Boston.

The latest numbers sent Intel stock down nearly 7 percent this morning on the Nasdaq Stock Market.

Intel said yesterday that it earned $1.57 billion, or 88 cents a share, in the July-September quarter. That's a gain of 20 percent over profit of $1.31 billion, or 74 cents a share, a year ago.

Gaming industry faces more consolidation

LAS VEGAS -- A lack of new gaming jurisdictions and the saturation of smaller markets will lead to more consolidation in the industry, a top Hilton Hotels Corp. executive predicts.

"The bottom line is that there has been a slowdown in the emergence of new gaming jurisdictions, and where they are opening, unreasonable tax rates are making prospects unattractive," Stephen Bollenbach, Hilton president, told the World Gaming Congress & Expo yesterday.

Merger helps narrow Time Warner loss

NEW YORK -- Time Warner Inc. said today its third-quarter loss narrowed, benefiting from the addition of Turner Broadcasting, more advertising for its magazines and improved box-office returns.

The media conglomerate lost $35 million, or 20 cents a share, in the July-September quarter. In the same period last year, Time Warner lost $91 million, or 43 cents a share.

But excluding interest costs and other items not related to day-to-day operations, Time Warner's profits rose 32 percent to $1.27 billion.

See expanded coverage in today's Honolulu Star-Bulletin.
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