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Business Briefs
Reported by Star-Bulletin staff & wire

Friday, September 27, 2002



HAWAII

Longs Drugs shuffles management staff

Longs Drug Stores Corp., whose 32 Hawaii outlets represent the chain's second-largest market behind California, said yesterday it is restructuring management of its store operations.

Nancy Cockerham, spokeswoman for the Walnut Creek, Calif.-based company, said Hawaii is unaffected and all the changes involve individuals at Longs' corporate headquarters.

The realigned store organization, formerly under the direction of two regional managers, will be directed by a single senior vice president and will include four group vice presidents. Martin Bennett, currently senior vice president of supply chain operations, has been named senior vice president of stores. He will continue to oversee supply chain operations until an experienced logistics professional is selected to succeed him. Longs has begun identifying candidates for the group vice president positions.

As a result of these changes, senior vice presidents and regional managers Jim Famini and Ron Lovelady have left Longs. Longs also announced Brian Kilcourse, senior vice president and chief information officer, has left the company and it has begun looking for his successor.

Kawamoto suit moved from isles to California

Japanese billionaire Gensiro Kawamoto's federal lawsuit against property management firm CB Richard Ellis Inc. has been ordered to be moved to California from Honolulu.

Kawamoto sued CB Richard Ellis in May, alleging the firm mismanaged 642 rental units in California. Kawamoto previously settled a suit that accused him of keeping 149 Santa Rosa homes in disrepair. CB Richard Ellis filed a motion to transfer the case, and U.S. District Judge Susan Oki Mollway granted the motion last week. The judge said moving the case would avoid substantial costs and inconveniences since most of the potential witnesses are in California.

MAINLAND

Judge accepts $10 mil bail for Kozlowski

NEW YORK >> A judge accepted the $10 million cash bail of former Tyco chief L. Dennis Kozlowski today, rejecting government challenges that the money was proceeds from illegal activity.

Kozlowski and former Tyco chief financial officer Mark Swartz were charged two weeks ago with enterprise corruption and grand larceny for allegedly stealing some $600 million from the firm. The men face up to 25 years in prison on each charge if convicted.

Supreme Court Judge Michael Obus said he was satisfied the cash posted by Kozlowski's ex-wife, Angie, was part of their divorce settlement. He noted Kozlowski had significant assets apart from any he is accused of stealing.

The judge, however, rejected bond for Swartz, saying his lawyers had not proven the stocks Swartz intended to use for bail were unrelated to any criminal activity. He was given until Oct. 11 to offer more conclusive proof that the money is not tainted.

Enron asks judge for more time

HOUSTON >> Enron is again asking a bankruptcy judge for more time to sort out its tangled financial affairs.

The company filed papers yesterday to delay submission of its reorganization plan until Jan. 31, having already pushed the date back once since filing for bankruptcy last December.

And bankruptcy experts say that because Enron's proposed asset sale won't be completed until at least spring, this probably won't be the company's last request for an extension. Enron will now certainly miss its initial goal of emerging from Chapter 11 bankruptcy within a year.

A hearing is set for Oct. 24 for the extension request.


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Hawaii Inc.

NEW JOBS

>> Emi Espinda has been hired as golf sales manager for Waikoloa Beach Resort. The property is hosting the first Waikoloa Women's Golf Challenge Oct. 25-27.

>> Dateline Media Inc. has hired Paula Gillingham Bender as editor and Jaime Winpenny as a news abstractor . Both were previously free-lance writers. Dateline Media is a Hawaii-based broadcast news and Internet monitoring service and the Honolulu affiliate of News Data Service, a national news database.

>> Summit Lending has hired Dora Garcia as its newest loan closer. She will assist Summit's clients with all aspects of the mortgage loan closing process. A 20-year veteran of the industry, Garcia most recently worked for First Magnus Financial Corp as a loan closer. Summit Lending is a locally owned and operated full service mortgage bank.

>> Century 21 Kailua Beach Realty has hired Judy A. Kauaihilo and Joni Myers as Realtor associates. Myers has been a Realtor in Hawaii since 1974. Century 21 is a subsidiary of Cendant Corp.

ON THE BOARD

>> The Hawaii Theatre Center has re-elected Robert Midkiff as chairman. Other officers are vice chairmen Mary Weyand, Michael Pfeffer, Trish O'Neill and Al Tomonari; secretary, Gaye Glaser; and treasurer, Paul Schraff. New directors who accepted three-year terms are Kenwei Chong, Kit Dobelle, Koren Dreher, Sarah Fargo, Susan Kobayashi, Rick Fried, Donna Tanoue and Larry Rodrigues. Newly elected to the advisory board is Martin Anderson. Hawaii Theatre just completed its sixth year in the black with operating revenues exceeding expenses by more than $178,000 and bank debt reduced to $1.5 million. The organization also is in the midst of its $10.5 million "Light Up the Hawaii" capital campaign aimed at retiring debt and completing renovations to the theater's exterior and marquee.



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