Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, October 19, 1999

Castle to manage resort in Guam

Castle Hotels & Resorts will open the 200-room Royal Orchid Guam Hotel on Friday, under the fourth Pacific Islands management contract secured by the Hawaii-based company. The $43 million hotel, in an international retail complex at Tumon Bay, is owned by the Sui family of Taiwan. Room rates start at $195. Castle Hotels, the main operating unit of Castle Group Inc., manages hotels in Saipan and Truk and will open one in New Zealand later this year. The company also manages 19 hotels and resort condominium properties in Hawaii.

Coca-Cola earnings beat expectations

ATLANTA -- Coca-Cola Enterprises Inc., the world's largest soft-drink bottler, said third-quarter profit rose a better-than-expected 20 percent as it raised prices in the United States and as European sales rebounded following a recall.

Net income rose to $104 million, or 24 cents a share, from profit from operations of $87 million, or 21 cents, a year ago. Coca-Cola Enterprises was expected to earn 21 cents a share, the average estimate of analysts polled by First Call Corp., according to Blommberg News.

The company benefited as Coca-Cola Co. boosted prices. In Europe, Coca-Cola Enterprises' sales are "at or above levels achieved" before a recall in June after 250 Belgian and French consumers became ill, the company said.

GE must recall 3 million dishwashers

WASHINGTON -- General Electric Co. is recalling 3.1 million dishwashers that might catch fire because of a faulty switch. The Consumer Product Safety Commission said yesterday the recall includes GE and Hotpoint brand dishwashers with the model numbers GSD500D, GSD500G, GSD540, HDA467, HDA477 or HDA487. The recalled models also have a serial number that has a second letter of A, M, R, S, T, V or Z. The dishwashers were made between April 1983 and January 1989. For information about the recall, call 1-800-599-2929 or connect to the GE Web site at www.

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