Business Briefs

Reported by Star-Bulletin staff & wire

Monday, May 3, 1999

Kmart to upgrade neighbor isle stores

Kmart Corp. plans to convert its three neighbor island stores to its new "Big Kmart" format, which includes a small grocery area to get shoppers to visit more often. The stores in Kahului, Lihue and Kailua-Kona will undergo renovations for the next 10 weeks. Alterations to the interior will be accompanied by new signs on the outside of the stores. The Troy, Mich-based company has not announced plans to change its Oahu stores, in Iwilei, Salt Lake and Waikele.

Building contracts rise 67% in Hawaii

Hawaii construction contracts issued in March for work to be done later were up 67 percent compared with March 1998, according to a construction work monitoring business, the F.W. Dodge division of the McGraw-Hill Cos. Dodge said $148.2 million worth of island contracts were written in March, compared with $89 million in the year-earlier month. Residential construction contracts showed the biggest increase, rising 68 percent to $51.3 million from $30.6 million a year ago.

In other news . . .

NEW YORK -- RSL Communications Ltd., which sells international long-distance, calling card and Internet services worldwide, said it will sell shares in its Delta Three Inc. Internet telephone subsidiary to the public in the third quarter.

Hamilton, Bermuda-based RSL plans to sell 20 percent of Delta Three's outstanding shares in an initial public offering and will file a registration statement with the SEC next month.

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