Reported by Star-Bulletin staff & wire
Friday, March 6, 1998
Long-time isle eatery to close, laying off 65
Kelly's Restaurant & Pastry Shop, which has stood at the corner of Nimitz Highway and Puuloa Avenue since opening in 1951 as a drive-in, will close March 31, laying off 65 full-time employees.The restaurant was acquired late last year, along with the lease of its 100,000-square-foot site, by a retail development business, Honu Group Inc. Honu had wanted a Waikiki parcel held by the same owner, Nittaku Investment Inc., and Nittaku included the Mapunapuna site as part of the deal. Honu has said it is not interested in the restaurant business.
Nittaku acquired Kelly's and 23 other restaurants when it bought Spencecliff Corp. in 1986. Most of the restaurants have since closed.
Entrepreneurs get help qualifying for OHA loans
A series of evening workshops in the Office of Hawaiian Affairs "microenterprise" training and loan program will begin March 24 and run through the end of April.The 6 p.m.-9 p.m. classes in the third-floor conference room of First Hawaiian Tower are aimed at helping people prepare business or self-employment plans that can be used to apply for a micro loan ($10,000 or less) from the Native Hawaiian Revolving Loan Fund. For more information contact the coordinator, the consulting firm Grant Thornton LLP, at 536-0066, extension 289.
In other news . . .
NEW YORK -- Motorola Inc. stock fell sharply today after the company said its first-quarter profits will be at least 25 percent below Wall Street's expectations. The wireless-communications company blamed weak computer chip sales and Asian economic woes. Analysts polled by First Call Corp. had predicted earnings of 47 cents a share for the quarter.