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Business Briefs

Reported by Star-Bulletin staff & wire

Thursday, February 1, 2001

TeraBiz lands state training contract

The state has contracted downtown computer training school TeraBiz LLC to upgrade the high-tech skills of state employees.

The classes will cover software including Microsoft's Windows, Word, Excel, Access, Power Point, Internet Explorer and other programs. The potentially lucrative deal is for one year, with the option to extend it another two years, TeraBiz said. Since the program is voluntary for state workers, the actual value of the contract won't be known until the end.

TeraBiz plans to add 115 classes over the next six months and hire several trainers to accommodate the additional business.

Seminar to spotlight military spending

The people who buy goods and services in Hawaii for the military will tell island businesses next week how to get a share of the $4.8 billion spent in the islands each year by the federal government. The Aloha Chapter of the National Contract Management Association will conduct its "2001 DoD Contracting in the Pacific Workshop" from 9 a.m. to 4 p.m. Wednesday at the Sunset Lanai Club at Camp H.M. Smith.

The object is to bring businesses the latest information on Department of Defense funds appropriated for Hawaii and the agencies that do the buying, organizers said. Fee for the workshop and lunch is $40 for NCMA members and $50 for nonmembers. For reservations contact Hector Venegas, 523-2391, or email hector@pixi.com.

30-year mortgages fall to 7.09 percent

WASHINGTON -- Mortgage rates dipped this week as the Federal Reserve cut interest rates by a half-point for the second time in January in an attempt to prevent the economy from sliding into a recession. The average interest rate on 30-year fixed-rate mortgages fell to 7.09 percent, down from 7.15 percent last week, according to mortgage company Freddie Mac. Fifteen-year mortgages slipped to 6.66 percent last week, down from 6.70 percent. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.54 percent, compared with 6.64 percent last week.

Verizon records slight net gain

NEW YORK -- Verizon Communications Inc. said fourth-quarter profit rose 1.3 percent as the biggest U.S. local-telephone company increased spending to add long-distance customers in New York and sell more data-transmission services.

Profit from operations rose to $2.11 billion, or 77 cents a share, from $2.08 billion, or 75 cents, in the year-earlier period. Sales climbed 6.7 percent to $16.9 billion from $15.8 billion, Verizon said. The New York-based parent of Verizon Hawaii was expected to earn 77 cents by analysts.