Honolulu Star-Bulletin Business /2005/03/30/

[ FAST FACTS HAWAII ]

Ceatech files Chapter 11

Kauai aquaculture company Ceatech USA Inc., which had to kill 20 million of its shrimp last year after a contagious virus was discovered, filed for Chapter 11 bankruptcy protection from creditors last week.

The company estimates it owes creditors between $1 million and $10 million, and that its assets are worth less than $1 million. Ceatech filed for financial reorganization after its leadership agreed the company could not pay its debts.

Teaching kids about money

The state Department of Commerce and Consumer Affairs is teaming with Gov. Linda Lingle to kick off "Financial Literacy for Youth Month" on Friday, April 1.

Events that day will include financial literacy presentations, a financial literacy fair at Tamarind Park and a commendation ceremony hosted by Lingle to honor outstanding students who participated in two financial literacy programs co-sponsored by the department.

The theme for this year's events is "Teaching Kids How to Use Money Wisely."

CB Richard Ellis picks up Maui biz

A&B Properties Inc. has hired CB Richard Ellis Hawaii to manage 14 properties on Maui, including Maui Mall, Napili Plaza and Kahului Shopping Center.

CB Richard Ellis now manages more than 1.2 million square feet of commercial space on Maui.

Outrigger project to break ground

Hotel company Outrigger Enterprises Inc. will conduct a ground breaking and blessing Friday morning to its $460 million Waikiki Beach Walk redevelopment project.

Gov. Linda Lingle and Honolulu Mayor Mufi Hannemann will speak at the event. Five hotels and two smaller apartment hotel buildings will be torn down to make way for a new 90,000-square-foot retail entertainment complex. The development is expected to open late next year.

Deadline arrives for tax credits

Today is the deadline for submitting applications to be certified for state investment and research tax credits, including the controversial Act 221 credits.

Forms can be downloaded from www.state.hi.us/tax. Completed applications must be postmarked by today and mailed to the state Department of Taxation, PO Box 259, Honolulu, HI 96809.

Struggling Daiei gets new leader

Daiei Inc., a retailer that is getting government and corporate funds for a revival effort, said it named Yoshiaki Takahashi, 49, acting president as of today.

Shareholders approved the appointment at the Kobe-based company's annual investor's meeting, replacing 58-year-old Toshio Hasumi, who has held the position since October, Daiei said in a statement to the Tokyo Stock Exchange.

[Hawaii Inc.]

NEW JOBS

» Goodwill Industries has hired Rose Shin as its supporting employment empowerment program director. She will be responsible for directing the marketing and strategic planning of this new job-matching program. She previously served as the community and legislative liaison for the state Department of Health, State Council on Developmental Disabilities.

» Finance Factors has hired Peter Caravalho as the Kailua-Kona Mortgage Center residential loan officer. He will be responsible for generating and closing residential mortgage loan applications, increasing loan volume and providing quality customer service. He previously served as a William L. Wong CPA & Associates staff accountant.

» Hilton Hawaiian Village has appointed Christopher Reed its Alii Tower manager. He previously served as guest services manager of the Sheraton Moana Surfrider and the Princess Kaiulani Hotel.

» Aston Hotels & Resorts Hawaii has appointed Matt Bailey operations senior vice president. He will be responsible for overseeing the the company's 28 properties. He most recently co-founded Fandango Resorts.

» Olelo Community Tele- vision has appointed Gerry Silva as chief operating officer. He will be responsible for finance and administration, client services, community media centers, community development and creative services. He previously served as deputy director of the city's department of customer services.

PROMOTIONS

» Coldwell Banker Pacific Properties has promoted Linda S. Komatsu-Wong to vice president of business development. She will grow the company's business development through the Internet, corporate relationships and the use of brokers across the country. She has more than 25 years of sales and marketing experience.

» Central Pacific Bank has announced the following senior vice president promotions and new hires: Gwen S. Yamamoto Lau, promoted to senior vice president and sales and quality administrator; Patty B. Martin, hired as senior vice president and director of human resources; Calvin K. Kang, hired as business baking department vice president and business banking officer; Cedric I. Yamanaka, hired as assistant vice president and communications and publications officer.