Honolulu Star-Bulletin from Honolulu, Hawaii • 31

rates Basftd on 20 porcunt down, Owrif-occupj mortgages. Rates end term vary, ctock Iwteia for details. Today's rcsrkst N.Y.S.E.Up: 827 Stocks Down: 744 stocks Dow Jones At: 2.978.76 JJ Volume: 193,180,000 Chg. Wednesday; July 1 7 991 381.18 0.36 Section HAWAIIlGo 6onsumer Forking structure planned for a prime downtown lot Timi Intarert Points 30-year fixed 934 2 vS 15-yearfixed 938 2 1-year ARM 712 2 n.nki 30-year fixed 934 2 Hawal 15-yearfixed 938 2 "aWB" 1 -year ARM 712 2 Fimi 30-year fixed 934 2 Hawaii 15-yearfixed 933 2 1 -year ARM 712 2 wnntoH 30-year fixed 912 2 nink 15-yearfixed 914 2 pan 1-year ARM 712 2 FHAVA 30-year fixed 912 2 VMMHMMMMHMMHMHMBHHMMMMHHMRr prices mm (Til ShTiIIIoI Atoz plans parking structure Mil V4 lama Oahu 7 SouKW' CcMw Bunluw McCorm RmI EetAt. the first floor, Atoi development consultant Larry Fukunaga said yesterday.

The site, now vacant land totaling slightly more than 11,000 square feet in the heart of downtown, already is zoned for such use, Fukunaga said. Atoz, a Japanese-owned company, purchased the leasehold rights for the property in 1987, the same year the theater was razed. It has considered a number of office building projects, including Joint developments with other developers, but none turned out to be financially feasible, considering the size of the lot and length of the lease, Fukunaga said. With the downtown area sorely in need of more parking, however, a parking structure with retail outlets on the ground floor made sense, he said. "There's no magic in this.

It's a very small lot." The owners of the property, the Van Holt family of Kauai, has lr1 MONEY WATCH By Dan Dorman Atoz will build the facility where the King Theater stood By Rob Perez Star-Bulletin A real estate development company plans to build an eight-story parking structure on a prime downtown site where the King Theater once stood. After Atoz Inc. gets approvals from the landowner and govern-ment, it plans to develop the $4.5 million project on the King Street parcel between Pioneer Plaza and the McCandless Building, the former Honfed Bank headquarters. Seven of the eight floors would be devoted to parking, amounting to 192 stalls, while a mix of office and commercial space, including a take-out restaurant, would take up Falling energy costs help hold June's increase to 0.2 Housing starts increase a sharp 5.2 D-4 Associated Press WASHINGTON Declining energy costs offset a sharp rise in fruit and vegetable prices in June to produce a modest 02 percent increase in consumers' cost of living, the government said today. The report bolsters private analysts' view that inflation will not be a problem as the nation pulls out of a recession that began last July.

The seasonally adjusted gain in the Labor De given tentative approval for the project, according to Fukunaga. Once final approval comes, Atoz must get county authorization before it begins construction, which would take about 10 months to complete. Atoz has about 46 yean left on its lease. This would be the company's first commercial development in Hawaii. Atoz owns several local residential properties and the land under the Fronk Clinic on Bereta-nia Street, Fukunaga said.

i Consumer prico indox Percent change from prior month, seasonatty adjusted 4 'A i. (. 108 -4 1 partment consumer Price Index followed a 0.3 percent increase in May and an 0.2 percent rise in April For the first half of 1991, prices increased at an annual rate of 2.7 percent, well below the 6.1 percent advance for all of 1990, the worst in eight years. "We should see Inflation moderate through the end of this year and into 1992," said economist Mark Zandi of Regional Financial Associates in West Chester, Pa. The price I o.4r rr- FT ll'iyi 'i r.

i JL22u 1 A ODD MAM i IT: 1990 4 1W1 Mjiv '91 June "91 June '90 Source: Dftf. Labor ,1 i L. Associated Press ass 1 it 5 V4- Investment fiesta: restaurants, Mexico TJ ANT t0 transform yur portfolio Into an fl investment fiesta? Spice It up with a variety of restaurant and Mexican stocks. Your financial treat: appetizing stock gains of 30 percent to 60 percent over the next 12 months. Why? Juicy, way-above-average earnings growth of 20 percent to 30 percent a year over the next three to five years.

That's the word from hot money manager Bill Berger, 63, of Denver-based Berger Associates. And he sure knows how to spice up returns. His individual accounts (assets: $50 million) are up about 38 percent this year vs. a 15 percent rise In the Standard Poor's 500-stock index. "We're hungry for restaurants," says Berger, who tells me: "The siesta is over with Mexican stocks; it's time to buy 'em." His dining plays recommended as a four-course meal: Spaghetti Warehouse, Brink-er International (formerly Chile's), Buffets and Shoney's.

His Mexican plays: Phone kingpin Telefonos de Mexico, retail giant CIFRA and beverage biggie Fomento Economico Mexicano. All trade on U.S. exchanges as American Depository Receipts. Berger's craving for both groups is intensifying, given his view of an any-day-now economic rebound here and in Mexico. He sees U.S.

corporate Erofits up 16 percent to 18 percent in 1992's first alf vs. a 12 percent drop a year earlier. He also expects a 7 percent rise this half. Big pluses: lower inflation and interest rates. Now to the restaurants.

All win praise from Berger for being recession-resistant players with value menus. For example, the average main course at Spaghetti Warehouse runs less than $5. Another plus: The fast-growing aging population that likes to dine out inexpensively. Top pick: Spaghetti Warehouse (20). He sees hefty earnings growth of 30 percent a year for the 'next three to five years.

His earnings estimates: $1.23 a share for the fiscal year ending June 1993, up from $1 in 1992, and 80 cents in 1991. His 12-month price target: $30. His other restaurant plays: 1 Buffets (34 Vi). It has 78 buffet-style restaurants and plans to open 15 to 20 more a year over the next three to five years. Earnings estimates: $1.05 a share in 1991, $1.30 to $1.35 in 1992.

Twelve-month price target: 45. a Brinker's (40), which runs 165 Chile's restaurants offering Mexican entrees. Earnings estimates: $1.40 a share this year, $1.75 In 1992. Twelve-month price target: 60. Shoney's (I6V4X It has 1,600 units, including restaurants and seafood and chicken outlets.

Earnings estimates: 90 cents a share this year, $1.15 to $1.20 in 1992. Twelve-month price target: 26. Heading south of the border: Telefonos de Mexico (31), Mexico's longdistance phone service monopoly, which could reap big pluses from economic expansion. Berger's earnings estimates: $2.50 a share this year, $3.25 in 1992. His 12-month price target: 45.

CIFRA (IV4), which sells everything from fish to auto parts. It's a play on Mexico's emerging middle class, says Berger. Big plus: new joint venture with retail pro Wal-Mart Earnings estimates: 7 cents to 8 cents a share in 1991, 11 cents to 12 cents in 1992. Twelve-month price target 2. Fomento (5V4), the world's largest Coca-Cola franchisee and Mexico's No.

1 bottler-distributor of beer. Earnings estimates: 27 cents a share this year, 35 cents in 1992. Twelve-month price target: 6yi. Berger's tasty wrapup: If you think jalapeno peppers are hot, try these stocks. And they're unlikely, he says, to give you any lingering financial indigestion.

Dan Dorfman, a veteran of WaU Street, writes a weekly column that appears Wednesday in Hawaii Inc. His assistant, Jerilyn Klein, contributed to this article. Archiiects Hawoii Ltd. The eight-story structure on King street that Atoz plans to build is shown here in an artist's rendering. ECUAI-TV plans now facilities, more program swing from 1990 to 1991 is largely attributable to oil prices, which are falling steeply after skyrocketing following Iraq's invasion of Kuwait.

But, the Labor Department said that food prices and so-called core prices excluding food and energy also were both advancing at a slower rate this year than in 1990. It said the mild inflation combined with rising hourly wages and increasing hours worked per week to boost U.S. workers' inflation-adjusted earnings by 0.9 percent in June. That followed a 1 percent rise in May. In his semiannual report to Congress, Federal Reserve Board Chairman Alan Greenspan yesterday pointed to "promising signs of a slowing in inflation" and said monetary policy would be aimed at building on the progress.

In June, food prices rose 0.5 percent after no change in June. A 6.1 percent jump in fresh fruits and vegetables accounted for 95 percent of the advance. Energy prices fell 1 percent, with declines registered for gasoline, fuel oil and natural gas and electricity. In the first half of the year, petroleum-based energy costs have fallen at an annual rate of 30 percent after rising 35.4 percent in 1990. Excluding food and energy, prices rose 0.4 percent in June after an 0.2 percent gain in May.

Part of the acceleration was attributed to a 2.1 percent rise in tobacco prices, as wholesale increases were passed through to retailers, and an 0.8 percent rise in tuition and school fees. The department noted these details of June prices: Out-of-town lodging jumped 1 percent. New car prices edged up 0.2 percent and used car prices jumped 1.1 percent. They were somewhat offset by a 1.8 percent decline in automobile financing charges. Airline fares rose 0.6 percent after dropping 9.7 percent in the previous three-month period.

An 0.6 percent increase in women's and girls' clothing was offset by lower prices for jewelry, watches and footwear. a Medical care was up 0.6 percent, in line with the usually-steep increase in that area. Costs were 8.8 percent higher than a year ago. Japanese tourists and increased Japanese, Filipino and Korean programming. All of its Japanese programming, including the nightly Fuji News, carries English subtitles.

Metzger said the station also plans to air Japanese dramas in the afternoon starting next month. "The 1990 Census figures reveal that Oahu's Asian and Pacific Islander population has increased 15 percent in the past decade and now represents nearly two-thirds of the total population," said Metzger, who joined the station in November after launching a new station, KFVE, and periods with KHNL-TV and KQMQ radio. KHAI, whose new facilities are at 197 Sand Island Access Road, is owned by Intercontinental Television Group, which owns KSCI-TV in Southern California and the International Channel, a satellite-delivered multi-lingual cable station wil be broadcasting from a new transmitter and antenna on top of the Palehua Rudge in the Waianae Mountains, Metzger said. A new satellite dish for receiving programs from outside Hawaii will go into operation early in the fall, he said. The station broadcasts in the air on Channel 20, through Oceanic cable Channel 21 and Chronicle cable Channel 10.

It shares the cable with C-Span, which broadcasts earlier in the day. Metzger said the longer broadcast time will include 16 hours a week of additional Chinese language programming, which will kick off with "Monkey King," a 25-part Mandarin Chinese musical drama. Later this year, KHAI will broadcast "The Last Emperor," a 32-part series on Emperor Pu Yi. They will be shown with English subtitles. The station also will have a new locally produced show aimed at It will move into a new studio and broadcast 28 hours more each week Star-Bulletin staff KHAI-TV, a Honolulu television station that specializes in Japanese, Chinese and Filipino programs, plans to move into a new and bigger administration and studio building Aug.

1 and increase its air time by one-third. Don Metzger, vice president and general manager, said the additional 28 hours a week of broadcast time, bringing the station up to 92 hours a week, will begin Aug. 5. The station will broadcast from noon to midnight Monday through Friday, 9 a.m. to 1 a.m.

Saturday and 9 a.m. to midnight Sunday. By the end of this month, the EXECUTIVE PROFILE NEWSWATCH Pushing women's Issues Coasters for sale at $1.9 million LOOKING AHEAD Tomorrow: The Commerce Department will report on the trade deficit for May. Vi! A 4- I GOOD NEWS BAD NEWS By Henry Martin Coasters, the restaurant at the Hawaii Maritime Museum on Pier 7, is for sale and the owner is asking $1.9 million. That price, a mark-down from $2.5 million when it was first listed at the beginning of the year, is attracting some interest, according to Pat Choi, whose Patricia Choi Realty Inc.

has the listing. The restaurant, developed bv T. Carrick Jordan, opened in February 1989. It features dining open to the outdoors, with ships passing close by, and local entertainment Choi said Jordan, who has other business interests, including a four-year-old professional golf tour com peting with the Ben Hogan tour, intended from the start to develop the restaurant and sell it. Inquiries that are coming in are largely from investors who recognize the importance of the harbor-front location, she said.

However, uncertainties about future construction along the Honolulu waterfront, combined with a pull-back by Japanese investors, may have combined to make it harder to sell. -It cost Jordan about $1.5 million to build, Choi said. She said that the two-story restaurant has about 12 years to go on its 15-year sublease from the Maritime Museum. The pattern has been disturbing for many women. They've seen it happen in the nursing and teaching professions, and some data suggests the same is occurring in the communications industry as well.

"When women begin to dominate a field, the payscale goes down," said Dana Krucky, new president of the Women in Communications' Honolulu chapter. Pushing for equal pay is among a number of concerns the organization tackles on a national basis. Taking the cue from the national group. Name: Dana Krucky Age: 31 Position: Owner, Krucky and Co. first Job: Babysitting Favorite pastime: Tennis, hiking, spending time with husband closes down 5.14 but nsrs top losers Stock prices were mixed today, registering no clear-cut response to the latest data on inflation.

The Dow Jones average of 30 industrials, up more than 12 points in the early going, was down 5.14 points at 2,978.76 by the close. Advancing issues outnumbered declines by about a 10-to-9 margin, and volume was an estimated 193.18 million shares. The NYSE's composite index dipped 0.03 to 209.09. The Labor Department reported that the consumer price index rose 0.2 percent in June. Fcpslco to ccq-jlra 40 cf tig PcHsh confectioner Pepsico Inc.

will pay $25 million for a 40 percent interest in the Wedel candy company, Poland's largest confectioner, the government said today. The investment is the biggest yet by a foreign partner in a state-owned company being privatized, the Ministry for Privatization said. Wedel sold chocolate products and biscuits valued at $58 million in 1990. CF3 reports 10.1 rise la secend-qusrter profit CPB the parent of Central Pacific Bank, earned $3.1 million, or 62 cents a share, in its second quarter. That was an increase of 10.1 percent Second quarter net million, up 7.9 percent.

Loans of $762 million were up 23.2 percent from the equivalent period of 1990 and stockholders' equity of $84 million showed an increase of 12.8 percent Announcing the results yesterday, Yoshiharu Satoh, chairman, president and chief executive of cer, said the early recovery of the visitor industry, which was hit hard by the Persian Gulf war and the mainland recession, is having a positive effect on the Hawaii economy. From staff and wire reports Krucky said the Honolulu chapter has started working on such issues as protection of First Amendment rights. Krucky, owner of Krucky and a project management firm, recently began serving a one-year term as president She was elected in May. Krucky joined Women in Communications in 1979 when she was a student at Northwestern University, where she eventually graduated with a degree in journalism. Before recently starting her own company, Krucky was manager of a direct-mail venture at GTE Hawaiian TeL She was with the company for 4V4 years.

Rob Perez, Star-Bulletin from the net of $2.8 million, or 57 cents a share, in the year-earlier quarter. The company ended the quarter with assets of $1.1 billion, up 10.6 percent from last year, and million Year-earlier net 1A million ffcgn" ItanM "I want a style that says, 'MBA, Columbia Graduate School of Business, and ready to go deposits of $335.