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Nanakuli industrial property sells for $8M
Pineridge Farms Inc.
, a Honolulu construction services company, has acquired 25 acres of industrial property in Nanakuli from Hawaiian Cement
for $8 million.
Located on Lualualei Naval Road, the land previously had been the original cement plant for Kaiser Cement, said Andrew Friedlander of Colliers Monroe Friedlander, who brokered the deal.
Pineridge provides transportation services for the building industries, carrying rocks, boulders, concrete and crushed rock to sites and hauling demolition material and contaminated soil to landfills. Company executives were not available for comment.
Delta threatens to force givebacks
ATLANTA » Delta Air Lines Inc.
, the nation's third-largest carrier, is prepared to use the bankruptcy court to achieve $325 million in cost concessions from its pilots if the company and union can't reach a deal on their own, Chief Executive Gerald Grinstein said yesterday.
Grinstein made the comment after an event at the Carter Center to announce the airline's plans to launch nonstop service from its Atlanta base to Tel Aviv in March.
30-year mortgages keep rising
WASHINGTON » Rates on 30-year mortgages rose for a fourth consecutive week, climbing to the highest level since late March, as financial markets continued to worry about inflation.
Mortgage giant Freddie Mac reported yesterday that the nationwide average for 30-year, fixed-rate mortgages rose this week to 5.98 percent, up from 5.91 percent last week. It was the highest level since rates rose the week of March 31 to 6.04 percent, which so far has been the highest nationwide average for the 30-year mortgage so far this year.
MCI shareholders OK takeover
's shareholders approved an $8.44 billion takeover by Verizon Communications Inc.
, ending attempts by hedge funds to quash the deal.
About 88 percent of the votes cast favored the purchase, Chairman Nicholas Katzenbach said yesterday at a special meeting at MCI's headquarters in Ashburn, Va.
Pension fund sues Seibu Railway
Japan's Government Pension Investment Fund said it filed a lawsuit against Seibu Railway Co., its parent company, Kokudo Corp.
, and former chairman Yoshiaki Tsutsumi, seeking compensation for damages resulting from a falsification of Seibu's shareholders' ownership.
The Government Pension Investment Fund, which held 11.28 million shares when Seibu admitted Kokudo and other biggest shareholder held more shares than allowed, is asking for $163 million from the two companies and Tsutsumi, the fund said on its Web site.
» KMH LLP
has announced the following promotions: Robin K. Freitas
has been promoted to assurance and advisory services supervisor; Gordon Tom
has been promoted to assurance and advisory services supervisor; Jenny Garcia-Quinones
has been promoted to senior in the assurance and advisory services practice; Koral Ha
has been promoted to senior in the assurance and advisory services; Kelly Hoevelkamp
has been promoted to business consulting division supervisor; Tanya Suapaia
has been promoted to the business consulting divison supervisor; Charise Asuncion
has been promoted to business consulting divison senior; Caroline Okihara
has been promoted to business consulting divison senior; Jasmin Mahal Ontalan
has been promoted to senior in the tax compliance and business advisory services.
» Central Pacific Bank has announced the following executive promotions and hirings: Clifford K. Fujiwara has been promoted to executive vice president, overseeing the bank's commercial real estate business in Hawaii; Julian C. Fong has been promoted to executive vice president, overseeing commercial real estate business on the mainland; Todd F. Jackson has been hired as vice president and senior loan officer in the real estate loan division; and Eric B. Yee has been hired as vice president and senior private banking officer.