Reported by Star-Bulletin staff & wire
Wednesday, October 14, 1998
Isle auto executive buys Mike Salta dealership
Jack Jackson, a 30-year management veteran in Hawaii's automobile business, has acquired the Mike Salta Pontiac-Isuzu Lincoln Mercury dealership and renamed it Jackson Auto Group.Jackson, who did not disclose the acquisition terms, said he plans to expand the dealership at 2945 N. Nimitz Highway next year with additional franchises and a second working shift in its 48 service bays.
Jackson, whose most recent position was chief operating officer of the Tony Group, said he expects sales to increase and he hopes to add employees to the work force of 75 at the 135,000-square-foot dealership. Jackson Auto Group will continue to sell and service the Lincoln Mercury, Pontiac and Isuzu lines, he said.
Cultural center gives bonuses for bookings
The Polynesian Cultural Center has launched a program offering travel agents a 15 percent commission for every visitor they book directly with the center, rather than through tour packagers.Calling the program "PCC Direct," the visitor attraction said it will give travel agents around the world an added incentive to market the islands and increase the profit they get from making Hawaii bookings.
Agents who register to book direct will get a package of PCC materials so they can give their clients an advance look at the Laie facility with its collection of island villages, IMAX theater and dining and entertainment facilities.
PCC was founded in 1963.
Unisyn Technology sold to Seattle investor
Unisyn Technology, which processes agricultural and food wastes in Waimanalo and turns them into nutrient-rich compost, has been sold to a group headed by investor Greg Kemp.Called RM2, the investment group said no changes are to be made and Matt Lyum will continue as manager of the 24-employee business. Kemp maintains homes in Hawaii and Seattle and has other business interests in Hawaii and on the mainland, today's announcement said.
Unisyn, which uses an anaerobic system in closed containers to process organic waste, was controlled by another investment group headed by Barry Silverton. Silverton is no longer involved with Unisyn, Kemp's group said.
Daiei Inc. cuts forecast for profit by two-thirds
TOKYO -- Daiei Inc., Japan's biggest general store chain and the owner of Ala Moana Center, cut its profit forecast by two thirds to reflect declining sales.The Kobe-based retailer said it expects group net income in the year ending Feb. 28 to be 500 million yen ($4.2 million), compared with 1.5 billion yen ($12.6 million) initially expected.
Daiei's sales are declining because it has been slow to upgrade its stores and it's not selling the kind of goods people want, analysts said. The company's likely to struggle for years, because it's saddled with trillions of yen in debt that's preventing it from making the changes it needs, they said.
Daiei executives in Japan have said the company is considering selling all or part of Ala Moana Center, Hawaii's largest shopping center, to help pare its debt.
In other news . . .
DEARBORN, Mich. -- Ford Motor Co., the world's No. 2 automaker, said third-quarter earnings rose 11 percent as strong demand for its high-profit light trucks in North America overcame slumping worldwide sales.
See expanded coverage in today's Honolulu Star-Bulletin.
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