Business Briefs

Moana Surfrider zoning decision delayed

It’s been more than a year since an appeal challenged a city zoning variance that allows Kyo-ya Hotels & Resorts to build a new oceanfront hotel and condominium tower on part of its Moana Surfrider Hotel property in Waikiki, but the case still remains undecided.

A hearing on Thursday by the city Zoning Board of Appeals to decide the case was continued to Feb. 9.

The board said it needed more information to determine whether four environmental groups and an individual have the legal authority to appeal the variance granted in December 2010 by the city Department of Planning and Permitting.

Appealing the variance are Hawaii’s Thousand Friends, Surfrider Foundation, KAHEA-The Hawaiian-Environmental Alliance and Ka Iwi/Sandy Beach Coalition — and preservation advocate Michelle Matson.

Kyo-ya and the city are arguing that the appeal should be dismissed.

The variance allows the tower to encroach on ground- and airspace-setback areas established to provide open space along the beach.

Grant funds available to help firms export

The Hawaii Pacific Export Council will conduct a free export grant funds seminar at Hawaii Foreign Trade Zone No. 9 from 1 to 4 p.m. Feb. 10 to show interested companies how to qualify for new grant funds that have been made available by the Small Business Administration’s State Trade and Export Promotion and the U.S. Department of Agriculture.

The seminar will be followed by free consulting sessions to help businesses solidify their international strategy, get their export questions answered and complete registration documents. To register, email Kiah@hawaiiexportsupport.com or call 457-7100.

More seek jobless aid; bigger trend positive

WASHINGTON » The number of people seeking unemployment benefits rose last week to a seasonally adjusted 377,000, up from a nearly four-year low the previous week. But the longer-term trend is pointing to a healthier job market.

Applications have trended down over the past few months, and the four-week average is 377,500. When applications fall consistently below 375,000, it tends to signal that hiring is strong enough to lower the unemployment rate.

Some economists say the figures suggest further job gains ahead. The nation has added at least 100,000 jobs for six straight months. The unemployment rate has declined to 8.5 percent, its lowest level in almost three years.

Taco Bell enters crowded breakfast arena

LOUISVILLE, Ky. » Yo quiero Taco Bell breakfast burrito!

The Mexican-style fast-food chain that’s best remembered for a 1990s ad in which a Chihuahua proclaimed “I want Taco Bell” in Spanish, introduced a breakfast menu Thursday at nearly 800 restaurants in 14 states.

Hawaii is not included in the initial launch, but if all goes well, Taco Bell said it plans to sell breakfast burritos and hash browns along with its tacos and gorditas at all of its 5,600 locations nationwide by 2014.

Taco Bell, operated by Yum Brands Inc., is entering the mad scramble by fast-food heavyweights to compete for the morning on-the-go crowd. Breakfast has become the most important meal of the day for chain restaurants, accounting for virtually all of the industry’s growth in the past five years.

AT&T loses $6.7B after T-Mobile deal fails

NEW YORK » AT&T reported a $6.7 billion loss Thursday for the fourth quarter, largely stemming from the breakup fees incurred as a result of its failed acquisition of T-Mobile USA. During the same period a year earlier, the company reported a profit of $1.09 billion, or 18 cents a share. After discounting charges from the $4 billion breakup fee, AT&T’s profit was 42 cents a share, down from 55 cents a year ago.

But the company was able to ride a wave of momentum from record iPhone sales and an influx of new subscribers, which nudged revenue up 4 percent during the quarter, to $32.5 billion from $31.4 billion a year ago.

Mortgage rates up slightly but still below 4 percent

WASHINGTON » The average rate on a 30-year fixed mortgage rose this week, though it remained below 4 percent for the eighth straight week.

The low rates may be contributing to a slow turnaround in the depressed housing market. Still, many who can afford to buy or refinance a home have already done so.

Freddie Mac said Thursday the average rate on the 30-year fixed mortgage rose to 3.98 percent. That’s up from 3.88 percent the previous week, which was the lowest level on record.

The average on the 15-year fixed mortgage also rose, to 3.24 percent, from 3.17 percent the previous week. The 15-year mortgage hit a record low of 3.16 percent two weeks ago.

ON THE MOVE

KCAA Preschools of Hawaii has hired Coreen K. Lee as project manager of its new Center for Early Education and Development. Her experience in the early education industry includes serving as associate executive director of PATCH and manager of a statewide program.

The Board of Water Supply’s board of directors has appointed Ernest Y.W. Lau as its 10th manager and chief engineer. Lau is currently administrator of the Public Works Division.

Aloha Pacific Federal Credit Union has promoted Vince Otsuka to senior vice president of its lending department. He will continue to be president of CUSO of Hawaii Services, a subsidiary of Aloha Pacific FCU. Otsuka joined the credit union in 2002.