BUSINESS BRIEFS
Filing fees to be lowered
Advertiser Staff and News Services
The Department of Commerce and Consumer Affairs' Business Registration Division announced a one-time- only reduction of securities and franchise filing fees expected to result in a total savings of more than $2 million dollars for Hawai'i businesses.
The reduction is possible because the department is expected to run a budget surplus in fiscal year 2006, thanks in part to Hawai'i's robust economy. The filings fees will be lowered by 50 percent for application and renewal fees for securities dealers and their salespeople, investment advisers and their representatives, the initial notice filing and renewal fees for investment company securities and the application, amendment and renewal fees for franchise filings.
The reduction is only for one year. The fees will automatically readjust to the statutory fee on Nov. 1, 2006.
PEARLRIDGE TO ADD NEW STORES
Pearlridge Center plans to add a host of new stores in the former space of J.C. Penney Co., including Starbucks, Local Motion, Price Busters, Up and Riding, Mobi Wireless, Fantastic Sams, Kay Jewelers, Cingular and Inspecs.
Hawai'i's second-largest mall also recently welcomed Borders Books & Music to the Penney space vacated in early 2003.
The additions are expected to help the mall increase sales, which rose 9 percent during the first half of this year.
HILTON HOTELS SEES PROFIT JUMP
LOS ANGELES — Hilton Hotels Corp. said third-quarter profit rose 46 percent on higher room rates and property sales.
Net income increased to $89 million, or 22 cents a share, from $61 million, or 15 cents, a year earlier. Revenue rose 6.7 percent to $1.1 billion a year ago, the Beverly Hills, Calif.-based company said yesterday in a statement.
Hilton lifted rates an average of 8.9 percent at owned hotels in markets including New York and Hawai'i as business and leisure travel rose.
