Oregon asks N.Y. court to block Enron legal aid
The Oregon attorney general's office has asked a New York bankruptcy court to block a request by Enron Corp. to advance up to $30 million in insurance money to its directors and officers to help them pay their fast-growing legal fees. Thirty-two other states, including Hawaii, are backing the fight.In a court document filed Friday, the Oregon attorney general argued shareholder litigation might ultimately find the directors and officers guilty of committing fraud for their role in the company's demise.
If directors and officers are found guilty of fraud, theoretically they are not entitled to assistance in paying for their defense, and must repay the company or insurance firm any money advanced. But in this case, it may be that the directors and officers do not have the ability to pay back any money advanced to them, Oregon argues in its filing. That could mean there would be less money available to pay creditors, if the cost of legal defense and damage awards topped the total of $350 million that Enron has in directors and officers liability insurance coverage.
Matson Intermodal starts online shipment tracking
Matson Intermodal System Inc. has introduced online shipment tracking capabilities at www.matson.com."Customers now have the choice of either contacting one of our customer service representatives to obtain up-to-the-minute shipment information or going online and accessing customized data via the Internet," said Ron Forest, president of Matson Intermodal.
Information available online includes last sighting date, last sighting time, last sighting inspection and status. Tracking data can also be downloaded and sorted with any spreadsheet software.
Matson Intermodal supplements Matson's ocean shipping through rail and motor carrier transportation services.
Modest gains expected in new hiring this spring
MILWAUKEE >> Some companies expect hiring will improve slightly this spring, but not enough to signal a recovery from recession levels, a new survey finds. Twenty-one percent of the companies interviewed said they planned to add jobs in April through June, while 10 percent said they anticipated cutting staff, according to Manpower Inc.'s quarterly survey of 16,000 businesses. The rest of the companies said they either expected to maintain their staffing levels or were uncertain about hiring activities in the second quarter.
Gas prices creep higher over the past 2 weeks
CAMARILLO, Calif. >> Gasoline prices rose less than a third of a cent per gallon over the past two weeks as abundant supply counterbalanced concerns about potential conflicts in the Middle East. Friday's weighted price per gallon for all grades and taxes was $1.15, up 0.31 of a cent per gallon from Feb. 8, according to the Lundberg survey of 8,000 stations nationwide. The price of self-serve regular averaged $1.12 a gallon, less than a pen- ny higher than two weeks ago, analyst Trilby Lundberg said.
[TAKING NOTICE]
NEW JOBS
>> Aulii Chung has joined the American Heart Association of Hawaii as a worksite director. She will oversee fundraising campaigns, coordinate educational services and organize health fairs. Chung was most recently director of communications at the W Honolulu Hotel and Diamond Head Grill.>> Marilynn Cullison has been named education services manager at Kuakini Medical Center. She will be responsible for planning and directing Kuakini Health System's educational services and programs. Cullison joins Kuakini after a 20-year career at Sharp Memorial Hospital in California.
>> First Hawaiian Bank has named Rachel J. Chang personal banking officer at its Pearlridge Branch. Also at the bank, Denise M. Hearn was hired as a trust real estate officer, Agenline K.L.M. Smith as a personal banking officer at the Kaneohe Bay Branch and Charla P. Vasconsellos as service manager at Kaimuki.
>> The Hawaiian Aquarium has named Vonnie Carter buyer for the Maui Ocean Center gift store. Carter has 15 years of experience in retail buying on Maui.
PROMOTIONS
>> Kristy Shibuya has been promoted to account executive at Stryker Weiner and Yokota Public Relations Inc. She will be responsible for coordinating and facilitating travel writer programs, promotions and national media relations. Shibuya previously served as the assistant account executive for the travel and promotions department prior to her promotion.