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Business Briefs

Reported by Star-Bulletin staff & wire

Monday, February 5, 2001

Kailua center to get new restaurant

Restaurateur Gene Gunn, owner of the Big Island Steak House outlets, plans to start a new eatery, Pinky's Bar & Grill, in the spot of the former Yum Yum Tree Pali Palms in Kailua.

The restaurant is scheduled to open in April and will occupy 6,200 square feet in the Pali Palms Plaza between Kawainui Channel and Aikaki Park Shopping Center. The Yum Yum Tree closed in September, leaving one remaining Yum Yum Tree at Ward Centre.

Gunn, president of Entertainment One Pacific Inc., also owns the Ocean Club nightclub at Restaurant Row. His two Big Island Steak Houses operate out of Aloha Tower Marketplace and the Kings' Shops on the Big Island.

The new eatery gets its name from Pinky's Broiler, a restaurant formerly located in the property's Pali Palms Hotel, which closed in 1980.

Pepsi's net soars on salty snack sales

PURCHASE, N.Y. -- PepsiCo Inc., whose Frito-Lay unit is the world's biggest salty-snack maker, said fourth-quarter profit rose 25 percent because the company sold more Ruffles, Doritos and Tostitos chips.

Net income rose to $611 million, or 41 cents a share, from $490 million, or 33 cents, a year earlier. Sales rose 13 percent to $6.4 billion from $5.68 billion, the company said. Frito-Lay introduced new snack varieties, such as Ruffles Flavor Rush chips, and put less chips in bags of Fritos, Cheetos and other brands to boost profit 10 percent in North America and 11 percent overseas.

Report: Continental may buy Delta

ATLANTA -- Delta Air Lines, the nation's third-largest carrier, and Continental Airlines reportedly have begun talks about a merger in which Continental would acquire the much larger Delta.

The discussions are "very informal" and "in the very early stage," an industry source told The Washington Post on condition of anonymity.

Neither Atlanta-based Delta nor Houston-based Continental, the fifth-largest carrier, would comment yesterday.

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