Reported by Star-Bulletin staff & wire
Thursday, February 25, 1999
Lex Brodie's cited for tank violations
Lex Brodie's Tire Co. in Waipahu was among eight sites around the state cited by government agencies for violations of rules governing underground fuel storage tanks. Lex Brodie's was fined $1,300, the most significant penalty issued for the violations, according to the U.S. Environmental Protection Agency, which conducted site inspections with the state Department of Health. The other site operators were not named.
American Air, pilots agree to mediation
FORT WORTH, Texas -- American Airlines and its pilots have agreed to mediation if two more bargaining sessions fail to break their stalemate over the airline's recent acquisition of Reno Air.
30-year mortgages increase to 6.89%
WASHINGTON -- The benchmark U.S. mortage rate rose to the highest level since early November, Freddie Mac said today.The average rate on a 30-year fixed-rate mortgage rose to 6.89 percent this week from 6.82 percent last week, Freddie Mac said.
The average for adjustable mortgages rose to 5.71 percent from 5.67 percent, while 15-year mortgages increased to 6.51 percent from 6.46 percent.
In other news . . .
Viacom Inc. said it would switch its stock listing to the New York Stock Exchange from the American Stock Exchange in the biggest transfer of market capitalization in NYSE history . . . Kmart Corp. will buy 11 stores for $75 million from Caldor Corp. . . . Amazon.com Inc. bought a 46 percent stake in drug-store.com, a new Web site selling pharmaceuticals and beauty aids . . . Reader's Digest Association Inc. says it will invest at least $100 million in new Internet sites.
Corporate earnings
Gap Inc.'s fourth-quarter earnings rose 46 percent . . . J.C. Penney Co. posted fourth-quarter profits of $207 million, up 3 percent.
See expanded coverage in today's Honolulu Star-Bulletin.
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