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Hawaii Guam branches
to get Bankoh name
Bank of Hawaii has received the final approval it needs to merge its First Savings and Loan Association subsidiary in Guam into the parent bank. The Federal Reserve Board approval came through yesterday.Bank of Hawaii bought Guam's First Savings and Loan Association in 1989. Now the six branches of the savings and loan will become Bank of Hawaii branches. Bank of Hawaii has three Guam branches and will have nine when the change is done, probably by the end of this month, said Stafford Kiguchi, a Bank of Hawaii spokesman.
He said the change will give Bank of Hawaii customers six more branches to go to and will allow the savings and loan account-holders access to the full range of Bank of Hawaii services.
Verizon grows Oahu DSL service
Verizon Online said it has spread its high-speed Internet service to 15 communities spanning Central and Windward Oahu, the North Shore and in Ewa.The towns where service is now available are Waianae, Makaha, Nanakuli, Makakilo, Kalaeloa, Ewa, Soda Creek, Capehart, Wahiawa, Waialua, Laie, Puuloa, Sunset Beach, Mokapu and Waimanalo.
The first 30 days of service are free to new customers. Customers who commit to a year pay $39.95 a month. For those who don't, the charge is $29.95 a month for five months, then $49.95 a month.
Verizon started offering its digital subscriber line, or DSL, service to Hawaii businesses and consumers in 1998. It competes with Oceanic Cable's Road Runner cable modem service.
Nextel opens on Maui
Nextel Partners Inc., which sells wireless-telephone service in smaller U.S. markets, will hold a grand opening for its second Hawaii retail store Sunday, a 1,400-square-foot unit in the Queen Kaahumanu Center in Kahului, Maui.The company opened a smaller store in June in the Westridge Center in Aiea.
Nextel says there is strong local demand for its "four-in-one" wireless service, which combines digital cellular, digital two-way radio, wireless Internet access and text/numeric messaging in one phone.
Advertiser breaks ground on plant
The Honolulu Advertiser officially launched construction yesterday for its new $82 million printing plant and distribution center in Kapolei.The Advertiser, which is owned by Arlington, Va.-based Gannett Co., announced plans for the new plant in March 2001, when it agreed to buy an 11.6-acre parcel from the Estate of James Campbell.The Advertiser plans to relocate about 400 printing and distribution jobs to Kapolei from 605 Kapiolani Blvd. and then renovate its building in Kakaako.
Tesoro closes sale of California outlets
SAN ANTONIO >> Tesoro Petroleum Corp. said yesterday it has closed the sale of 47 Northern California retail outlets for $44 million to USA Petroleum Corp. and Green Valley Gasoline LLC.Tesoro will use 50 percent of the proceeds to pay down debt.
The San Antonio-based company, which operates the largest refinery in Hawaii, said the two transactions involve a portion of the 70 retail stations it has posted for sale.
A third transaction with Nella Oil Co. and Flyers LLC for the remaining Northern California outlets is expected to close at the end of December. All three transactions are valued at $67 million, the company said in November. The sales are part of a plan to slash $500 million from its debt by cutting costs, selling assets and reducing spending. June 30, the company posted $2.06 billion in debt.
In September, Tesoro Hawaii began laying off 35 employees from its 700-member work force in companywide cost-cutting.
