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Business Briefs
Reported by Star-Bulletin staff & wire



[Taking Notice]

New Jobs

>> Summit Lending of Hawaii has opened a commercial lending division under the supervision of John Hamilton IV as vice president. He will also serve as manager of Summit Lending's information technology division. Hamilton was previously employed by Seattle- based Credit Pro.

>> Paige Cabacungan has been named travel industry sales manager at the Kona Village Resort. She was most recently special projects manager at Panache Destinations Management.

Promotions

>> Tammy Sumida and Su Shin have been promoted at Joan Bennet and Associates Inc. Sumida will serve as vice president. She joined the company in 1999. Shin, who joined Joan Bennet last year, was promoted to account supervisor.

>> Lisa K.O. Toma has been promoted from supervisor to audit division manager at Nishihama and Kishida CPAs Inc. She specializes in audit and management consulting services to nonprofit, commercial and government clients.

State's attorneys to hold briefing on gas suit

Hawaii Attorney General Earl Anzai and the state's lead counsel in the recently settled antitrust lawsuit against several oil companies were scheduled to hold an informational briefing on the case at 2 p.m. today at the state Capitol auditorium.

Anzai was to make a formal presentation, along with San Francisco attorney Spencer Hosie, on topics including the profitability of the oil companies, and legislative recommendations for dealing with Hawaii's high gas prices. Public testimony was not scheduled.

State bond sale to save $1.9 million in interest

The state Department of Transportation has sold approximately $24.4 million in Harbor System revenue bonds.

The bond sale is a refinancing of bonds issued in 1992. With an interest rate of 5.38 percent, the sale is estimated save the state about $1.9 million.

Proceeds will be used to refund outstanding Harbor System revenue bonds.

100,000 beach chairs recalled due to instability

WASHINGTON >> A California company is recalling about 100,000 folding mini beach chairs because they can collapse, potentially crushing or amputating fingers and toes.

Intercon Merchandising Source Inc., of City of Industry, has received reports of one incident in which a collapsing chair cut off the tip of a 3-year-old girl's finger, the Consumer Product Safety Commission said yesterday.

The recalled mini beach chairs, which can be used by children and adults, were given as free gifts with the purchase of a Time Out cosmetic product at Sears stores. The chairs are white aluminum with a blue canvas seat and back. "Time Out" is printed on the backrest.

Sears stores distributed the mini beach chairs with the purchase of $20 worth of Time Out cosmetics from June 2000 through August 2000. The government said consumers should stop using these chairs and contact Intercon for a free repair by calling toll-free at (800) 634-0469 between 9 a.m. and 5 p.m. PST Monday through Friday.

Gemstar-TV Guide stock rebounds after selloff

LOS ANGELES >> Gemstar-TV Guide's stock stabilized today after worries over the company's accounting practices sent its shares tumbling more than 37 percent yesterday.

In a filing with the Securities and Exchange Commission Monday, Gemstar said it recorded $107.6 million in revenue over the past 29 months from one company even though none of that money has been paid.

Gemstar said the revenue is owed by Scientific Atlanta, which makes cable television set-top boxes. The companies are locked in a patent dispute that is expected to drag on another three months. Shares, which fell $5.35 yesterday, gained 59 cents today to $9.60.





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