Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, February 10, 1999

Food Pantry buys Waikiki property

Food Pantry Corp., part of Foodland Super Market Ltd., has purchased a 6,000-square-foot property next to the Hilton Hawaiian Village for more than $1.7 million. Currently occupied by Budget Rent A Car, the property is at 1837 Ala Moana, next to the Kobe Steak House.

Food Pantry is making the investment in Waikiki because it knows there will be more hotel rooms and attractions in the densely populated area, said Andrew Friedlander, chief executive officer of the real estate brokerage that handled the transaction, Colliers Monroe Friedlander Inc. The seller was the University of Hawaii Foundation which received the property as a gift from the estate of Nadine Alexander Kahanamoku.

AOL signs deal with music seller

DULLES, Va. -- America Online Inc., the world's largest Internet service provider, today announced a multi-year deal with Columbia House to market the oldest record club in the industry for online and off-line promotions. Under the pact, Columbia House, with more than 13 million club members, will promote its music, video and DVD clubs in AOL's Shopping Channel, as well as on, CompuServe, Digital City and Entertainment Asylum. Columbia House is jointly owned by Sony Corp. and Time Warner Inc.'s Warner Music. Specific terms of the deal were not released.

Lower prices boost ownership of PCs

SAN JOSE, Calif. -- About half of U.S. households had a personal computer in 1998, up from 43 percent in 1997, reflecting the impact of lower-priced PCs on the U.S. consumer segment, according to a report by Dataquest.

Gartner Group Inc.'s Dataquest unit yesterday said that in 1995, a little more than one-quarter, or 27 percent of U.S. households had a PC. The research unit said there was evidence that buyers were coming from households in the lower socio-economic levels for the first time.

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