Reported by Star-Bulletin staff & wire
Wednesday, November 19, 1997
The New York investor group that bailed Hawaiian Airlines Inc. out of financial trouble nearly two years ago is setting out to save another airline, Western Pacific Airlines Inc. Hawaiian Air's savior helps Colorado airline
Colorado Springs, Colo.-based Western Pacific has asked a bankruptcy court to allow Smith Management Co., a closely held investment partnership, to provide up to $50 million in new financing to pull the airline out of a Chapter 11 reorganization. In return, Smith would get control of the reorganized airline.
Smith Management, through its affiliate Airline Investors Partnership, made a similar cash injection at Hawaiian Airlines and gained control. John W. Adams, Smith's president, is now chairman of Hawaiian's board.
Western Pacific serves 13 destinations from its Denver hub, with a fleet of 18 Boeing 737s.
Mauna Loa Macadamia Nut Corp. will be pushing its products on U.S. and overseas television through the holiday season, after an 11-year absence from TV. Hawaii mac nut company to resume TV ads
The company, a wholly owned subsidiary of C. Brewer & Co., said it has 10 commercials with a variety of macadamia themes, developed by an international advertising agency called com.com with local production help from a Kailua advertising agency, Hendrix Miyasaki Shin.
With a redesigned factory and visitor center operating near Hilo and increasing distribution networks in North America, Europe and Asia, it is time to do some brand-name promotion, said James Andrasick, Mauna Loa chief executive.
The Pennsylvania medical company that two years ago bought a major Hawaii dialysis treatment business is itself being acquired. Renal Treatment Centers Inc. said it has agreed to let Torrance, Calif.-based Total Renal Care Holdings Inc. acquire it in a deal worth $1.3 billion. Isle renal firm's parent selling for $1.3 billion
The combined company will operate 358 facilities and treat some 26,000 kidney patients in 32 states. Renal Treatment itself had been on an acquisition track when it bought Honolulu-based Intercontinental Medical Services Co. for an undisclosed amount in late 1995.
At the time, Intercontinental had four treatment centers on Oahu and provided dialysis treatment at five hospitals.