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36 Big Isle condos sell out in 4 hours

Centex Destination Properties said yesterday it sold 36 condominium villas worth $70 million at its Halii Kai at Waikoloa development on the Big Island in merely four hours.

The villas, which represent a first phase of sales at the project, will be ready for residents to move in by next summer. Centex expects to sell a second phase in February. The total project encompasses 192 villas on 29 acres in a gated oceanfront development.

Mortgage rates fall a second week

WASHINGTON » Rates on 30-year mortgages declined for a second straight week as low mortgages continued to fuel the country's housing boom.

Mortgage giant Freddie Mac reported yesterday that rates on 30-year, fixed-rate mortgages fell to a nationwide average of 5.77 percent this week, down from last week's 5.80 percent. Rates have fallen for two weeks after hitting a four-month high of 5.89 percent the week of Aug. 11.

Guidant takeover needs U.S. OK

BRUSSELS, Belgium » The European Commission cleared Johnson & Johnson's planned $25.4 billion takeover of the medical equipment maker Guidant after the companies agreed to sell some of their businesses, the commission said yesterday.

The approval eliminated one of the main regulatory obstacles facing the proposed deal, but the combination still faces an antitrust inquiry by the Federal Trade Commission in the United States, expected to be concluded in October, the companies said.

'Jethro' to partner in small casino

CARSON CITY, Nev. » Gambling regulators approved Max Baer Jr. -- "Jethro" in the old "Beverly Hillbillies" television series -- for a license yesterday to operate a small casino in North Las Vegas.

The state Gaming Commission unanimously endorsed Baer and business partner Roger Camras for a 10 percent interest in the Beverly Hillbillies Gambler Casino. Also approved for licensing at the 30-slot machine operation was John Karras, the 90 percent owner.

Kodak plans to kill 1,000 jobs

ROCHESTER, N.Y. » Eastman Kodak Co., battling a steep drop in demand for photographic film and paper, is scaling back film manufacturing in China and closing various businesses in Rochester and West Virginia, eliminating about 1,000 jobs.

Kodak, which is navigating a tough transition to digital photography, said yesterday it will consolidate North American color photographic paper manufacturing at factories in Windsor, Colo., and Harrow, England, by shutting down an operation in Rochester by the end of October.

It said manufacturing of consumer film products will be cut back in Xiamen, China.