Lanihau Center to be expanded
Advertiser Staff and News Services
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The new owner of Lanihau Center on the Big Island, A&B Properties Inc., said it plans to triple the shopping center's size by developing a 238,000-square-foot addition on an adjacent 22-acre vacant parcel.
A&B said the addition should cost an estimated $85 million, and more than triple the size of the existing 88,000-square-foot center in Kona. The expansion, which A&B expects to develop with a partner, includes two office buildings and retail and restaurant space.
HTDC LINKS WITH SHANGHAI FIRM
The Hawaii Technology Development Corp. yesterday announced that it has signed an agreement with the Shanghai Pudong Productivity Center business incubator. Under the agreement, the two will provide each other with office space and on-site assistance. For example, a Chinese company will be able to launch a branch office in Hawai'i through HTDC's business incubator program.
HOME-BUILDING SLOWS A BIT MORE
WASHINGTON — Construction of new homes slipped for a second month in August, providing fresh evidence that the nation's housing boom may be cooling.
The Commerce Department reported that construction of new homes and apartments dropped 1.3 percent last month after a decline of 1.5 percent in July. Those were the first back-to-back declines in housing starts since early 2004.
N.Y. TIMES WILL CUT 500 JOBS
NEW YORK — The New York Times Co. and two Philadelphia newspapers announced major job cuts yesterday as the industry grapples with financial problems, including weak advertising and circulation declines.
The Times said it will cut about 500 jobs; the Philadelphia papers will eliminate a total of 100 jobs. The Times cuts represent about 4 percent of the company's work force and will include about 45 jobs in the Times newsroom and 35 at The Boston Globe.
