Business Briefs

Reported by Star-Bulletin staff & wire

Wednesday, March 24, 1999

Investors snatch up Honolulu bonds

The City and County of Honolulu sold $495 million worth of general obligation bonds yesterday at an interest cost to the city of 4.88 percent. Demand was strong, with orders of more than $1.7 billion placed less than half an hour after the bonds went on the market, said the lead underwriter, Merrill Lynch & Co. The bonds will finance $100 million worth of new city projects and refinance $395 million of existing city debt.

Seminar set for isle entrepreneurs

Isle entrepreneurs interested in doing business with the government will get a chance next Wednesday to learn how to win government contracts. The local chapter of the National Contract Management Association is holding a daylong seminar called "Government Contracts 101."

The 8 a.m. to 3:30 p.m. conference will be directed by Marge Roberts, who handles contracting issues for the Air Force in the Pacific. The conference, at the Banyans, Navy All Hands Club, Pearl Harbor, will take participants step by step through the procedures for winning contracts.

For information, contact Hector Venegas at 523-2931. Cost for the seminar is $45.

IBM selling parts in $3 billion deal

ARMONK, New York -- International Business Machines Corp., the world's largest computer company, said it will sell computer parts to EMC Corp. over the next five years in an agreement valued at $3 billion.

In other news . . .

California Pizza Kitchen said it will close its Waikiki restaurant and relocate to Ala Moana Center, opening in late summer . . . Federal regulators ordered Kiwi International Air Lines to stop flying today, saying the Newark, N.J.-based discount carrier was "unable or unwilling" to fly with top safety standards. The carrier filed for bankruptcy yesterday . . . America Online Inc., which reportedly had been planning job cuts, said it will fire as many as 1,000 employees as a result of its acquisition of Netscape Communications Corp., and that it will take an undetermined charge against earnings in the current quarter.

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