Advertisement - Click to support our sponsors.
Reported by Star-Bulletin staff & wire
Wednesday, January 24, 2001
Beverage firm buys Gentry property
Paradise Beverages Inc., one of Hawaii's largest wholesale beverage distributors, has bought the three-acre parcel of vacant industrial land next door to its Waipio-Gentry distribution center for $5.5 million.The company completed the fee-simple purchase of the Gentry Business Park parcel from landowner Gentry Properties last week, according to documents filed with the state Bureau of Conveyances.
Paradise Beverages owns a two-story, 130,534-square-foot distribution center on the 4.6-acre parcel next door on Moaniani Street. The company would not comment on its plans. Last year, the company agreed to buy Lion Coffee and Hawaii Coffee Co., a unit of C. Brewer & Co. Owned by Los Angeles-based Topa Equities Ltd., Paradise Beverages also has has facilities on Maui, the Big Island and Kauai.
AOL cuts 2,000 jobs; may unload stores
NEW YORK -- AOL Time Warner Inc., the world's largest media and Internet company, has cut about 2,000 jobs. The layoffs, announced yesterday, had been expected, as AOL seeks to reduce costs and meet 2001 profit goals, analysts said. The company also said yesterday that it plans to shut down or sell its 130 Warner Bros. retail stores, possibly eliminating another 3,800 jobs. The company has a Warner Bros. store in Ala Moana Center. A second Oahu outlet, on Kalakaua Avenue, closed last year.
In other news . . .
J.C. Penney Co.'s plans to close 50 stores nationwide will not affect the company's four stores in Hawaii, a company spokesman said yesterday afternoon. The Plano, Texas-based company announced the closures yesterday but did not list the stores. The company closed its Windward Mall store in 1998.