BUSINESS BRIEFS
Three radio permits to be auctioned
Advertiser Staff and News Services
Maui-based Visionary Related Entertainment LLC is one of 212 companies registered to participate in a Jan. 12 federal auction for 171 construction permits for new FM radio stations.
Three of the permits being auctioned off are in Hawai'i, one in Nanakuli and two on Maui.
WEAK DECEMBER FOR U.S. AUTOS
DETROIT — A lackluster December was expected to cap a dismal year for U.S. automakers, who saw Asian competitors eat away at their market share throughout 2005.
Analysts are forecasting a weaker month than December 2004, as the impact of traditional year-end deals was muted by deep discounts over the summer. However, the month's sales are likely to be vastly improved from the autumn slump that followed the end of the summer's promotions. Automakers are scheduled to report December results on Wednesday.
SAVINGS RISING FOR EDUCATION
NEW YORK — All those reports about the rising cost of a college education appear to be having an impact on the savings patterns of American families.
A survey finds that parents with children under age 18 are more concerned about saving for their children's educations than they are about saving for retirement. The study was commissioned by The Vanguard Group mutual fund company, which is based in Valley Forge, Pa., and Upromise Investments Inc. of Needham, Mass., which channels shopping rebates into educational savings accounts.
The survey found that 37 percent of the more than 1,100 parents who were interviewed said saving for college was of primary concern, compared with 34 percent who said retirement was their top financial concern.
4TH BLACKBERRY PATENT REJECTED
TORONTO — A fourth patent at the center of the dispute between Research in Motion Ltd., the maker of the BlackBerry e-mail device, and NTP Inc. was rejected yesterday in a non-final action by the U.S. Patent and Trademark Office.
The patent is one of the five at the center of the long-running dispute between NTP and RIM. The PTO has already rejected all five NTP patents in so-called first office actions. It has now rejected four in a second round and RIM is pinning its hopes on the PTO validating its rulings in final patent rulings. Shares of RIM closed yesterday down $1.09, or 1.6 percent, at $66.01.
MARRIOTT SELLS HOTEL LAND
BETHESDA, Md. — Marriott International Inc. said yesterday it has closed the sale of $246 million worth of land that underlies 75 Courtyard by Marriott hotels, creating a pretax gain of $17 million for the year.
Marriott, the world's largest hotel operator, completed the deal with CBM Land Joint Venture, a limited partnership that is majority-owned by Sarofim Realty Advisors. Marriott said it has also contributed the land of nine Courtyard hotels, worth $40 million, to CBM, giving it a 23 percent stake in the joint venture.
