Reported by Star-Bulletin staff & wire
Thursday, August 26, 1999
SBA conference to help isle women
The Small Business Administration is sponsoring a conference next month to help Hawaii women entrepreneurs start and grow their businesses.Beth Hughes, regional director of the National Association of Women Business Owners, will give the keynote speech. The conference is scheduled for Sept. 10 at the Hale Koa Hotel. Registration for the conference and a related trade show is $35 if done so by Wednesday. For information call 541-2990.
U.S. mortgage rates down to 7.8 percent
WASHINGTON -- The average interest rate on 30-year fixed-rate mortgages edged down to 7.80 percent this week from 7.93 percent last week, according to a national survey released today by Freddie Mac, the mortgage company.So far this year, average rates on a 30-year mortgage have hit a low of 6.74 percent set at the end of January and a high of 8.15 percent two weeks ago. Fifteen-year mortgages averaged 7.43 percent this week, down from the average of 7.53 percent last week. One-year adjustable-rate mortgages averaged initial rate of 6.22 percent this week, up from 6.18 percent.
MetLife buying smaller firm
ST. LOUIS -- Metropolitan Life Insurance Co. will acquire the troubled General American Life Insurance Co. and its subsidiaries in a deal worth $1.2 billion, the companies said today.MetLife, the nation's second-largest insurance company with $357 billion in assets, intends to keep General American's headquarters in St. Louis. The smaller firm's assets are roughly $30 billion. General, burdened by $6.8 billion in obligations, began seeking a buyer earlier this month after it couldn't pay 37 big institutional investors who tried to cash out on $5 billion invested in General contracts.
In other news . . .
Crazy Shirts has opened a store at Waikele Premium Outlets, the factory outlet center in West Oahu. The store opened Friday. Center officials said a Banana Republic store will be opening there soon.