Business Briefs


POSTED: Wednesday, April 22, 2009

Walgreens opens Waipahu pharmacy

Walgreens has opened a pharmacy-only site at Waipahu Medical Center, its first on Oahu and fifth in Hawaii.

The 1,188-square-foot pharmacy on Farrington Highway opened on Monday, offering full prescription services with a limited number of over-the-counter health items.

Walgreens opened its first pharmacy-only site in Hawaii in Lahaina in December, followed by a second one in Lahaina and two in Wailuku in January.

Walgreens also operates three full-service retail stores on Oahu — on Keeaumoku Street and in Kaneohe and Kalihi. A Walgreens is slated to open in Kailua in May.

Mesa completes China pullout

Mesa Air Group, parent of interisland carrier go!, has received $4.5 million from China joint-venture partner Shenzhen Airlines after completing a transaction in which Mesa divested its 49 percent indirect interest in China regional carrier Kunpeng Airlines and agreed to terminate lease agreements to five CRJ-200 aircraft that it was leasing to Kunpeng.

The $4.5 million was reduced by Mesa's return of $900,000 in security deposits.

Mesa said it would record a loss on equity method investment in the second quarter and that it expects the five aircraft to be returned to the company during the third quarter.

ING DIRECT to host financial fair

ING DIRECT will celebrate Financial Literacy Month by presenting a free Financial and Health Fitness Fair today in Honolulu.

The fair starts at 9 a.m. and will run until 6 p.m. at ING DIRECT's Hawaii Cafe, and will feature Lt. Gov. “;Duke”; Aiona as the keynote speaker.

More than 20 local financial and health experts will be on hand to offer advice on financial education, college savings and retirement planning.

For more information, go to ingdirect.com/seminars.

Honolulu Festival generated $10M

The 15th annual Honolulu Festival brought more than 5,200 visitors and more than $10 million in visitor spending, according to figures announced by the Honolulu Festival Foundation.

The festival, held March 13-15, is estimated to have brought in nearly $1 million in total tax revenue.

The next Honolulu Festival takes place March 12-14. For more information, visit www.honolulufestival.com.

Canada cuts interest rates

TORONTO » Canada's central bank cut its trend-setting interest rate yesterday by a quarter-point to a record-low 0.25 percent and took the unprecedented step of saying it likely will stay there through June 2010.

The Bank of Canada said the global recession has intensified and that it expects the recession in Canada will be deeper than anticipated.

The bank said it is conditional on inflation, but it expects the rate to remain at its current level until the end of the second quarter of 2010. It said it is appropriate to provide more explicit guidance than is usual regarding its future path so as to influence rates at longer maturities.

On the Move

» The Counselors of Real Estate, Hawaii chapter, has announced the following officers for the current fiscal year: David McCoy, chairman — he is a trustee of the Parker Ranch Foundation Trust and former chief executive officer the Estate of James E. Campbell; Christine Camp, vice chairwoman — she is president and chief executive officer of Avalon Development & Consulting; Glenn Kunihisa, secretary — he president of ACM Consultants Inc. of Maui; and Paul Cool, treasurer — he is vice president of John Child & Co.

» The U.S. Green Building Council awarded the LEED silver certificate to 40 South School Street offices. LEED is the council's leading rating system for designing and constructing the world's greenest, most energy-efficient and high-performing buildings.