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POSTED: Wednesday, April 29, 2009

Chrysler might avert bankruptcy

WASHINGTON » With just two days left before a government-imposed restructuring deadline, Chrysler LLC took a step away from the brink of bankruptcy yesterday when its biggest lenders reached a deal with the U.S. Treasury Department to slash the teetering automaker's debt.

Yet Chrysler's fate remains far from assured. If the company's smaller creditors don't get on board, a bankruptcy filing remains a possibility.

But now that Chrysler has a tentative agreement with the United Auto Workers and is closing in on a pact with Italian automaker Fiat Group SpA, Chrysler has cleared nearly all the hurdles ahead of tomorrow's deadline. That brings the automaker closer to securing another $6 billion in government aid, keeping it alive and preserving its remaining 54,000 jobs.

Detroit publisher to lead USA Today

McLEAN, Va. » Fresh off a Pulitzer Prize win for his newspaper, Detroit Free Press Publisher David Hunke was appointed yesterday to head the nation's largest newspaper, USA Today.

Hunke's first act as publisher was to name USA Today's acting editor, John Hillkirk, to the post on a permanent basis.

Hillkirk has been with the newspaper since it was founded in 1982, most recently as executive editor.

Hunke, 57, replaces Craig Moon, who retired this month, while Hillkirk, 53, replaces Ken Paulson, who left Feb. 1 for a nonprofit group that promotes free speech.

The Free Press won a Pulitzer for local reporting, uncovering a sex scandal that forced Detroit's mayor, Kwame Kilpatrick, from office.

Allure Waikiki offering discounts

Developers of the Allure Waikiki, an upscale condo tower under construction at 1837 Kalakaua Ave., are offering a 20 percent discount on the next 40 units sold, along with a 5.25 percent interest rate locked in by Chase.

Chicago-based Fifield Companies is developing the 35-story condo with 291 units.

Prices range from the $500,000s to $2 million, and include one-, two- and three-bedrooms.

The discount, combined with lower interest rate, is expected to reduce monthly payments significantly compared with six months ago.

Fifield broke ground on Allure in January 2008. It is expected to be completed by mid-2010.

'Green' firms, organizations honored

Ten Hawaii organizations were honored recently by the state and the Chamber of Commerce of Hawaii with “;Hawaii Green Business Recognition”; awards for their environmental practices.

Gov. Linda Lingle recognized the following companies and organizations:

The Maui Prince Hotel-Makena Resort & Golf Course, the Hyatt Regency Maui Resort & Spa, the Hyatt Regency Waikiki Resort & Spa, the Moana Surfrider, the Waikiki Beach Marriott Resort & Spa, Core Group One, Swinerton Builders, the U.S. Postal Service, the state Department of Accounting and General Services, and the state Department of Business, Economic Development and Tourism.

On the move

» Landmark Hotels Group has hired Thomas Pauly as general manager of the Kahala Hotel and Resort. He was previously the general manager in Mexico for Landmark Hotels and has more than 20 years' executive experience on several continents overseeing branded and independent resorts and corporate hotels.

» BlueWave Technology has promoted Alyssa Hostelley to vice president of product management from project and product manager. She has more than 10 years' experience in project management, product development, operations and finance.