Quantcast
StarBulletin.com

Business Briefs


By

POSTED: Tuesday, May 12, 2009

HawTel operating income falls 14.3%

Hawaiian Telcom's operating income fell 14.3 percent to $8.4 million in March from $9.8 million in February, according to the latest filing by the company in U.S. Bankruptcy Court.

The company also reported $34.7 million in operating revenue, just a little lower than the $34.9 million recorded in February. Operating expenses were $26.2 million in March, up from $25.1 million in the previous month.

HawTel's net loss, which includes reorganization items, was $15 million versus a net loss of $8.3 million in February.

The company ended March with $97 million in cash, up from $91.7 million in February.

Hawaiian Telcom filed for Chapter 11 bankruptcy reorganization in December, and is required to file detailed monthly financial statements with the court.

Hawaii Medical Center, Humana link up

Hawaii Medical Center will provide medical care to members of Humana's ChoicePPO Medicare Advantage Plan under a long-term participating hospital agreement.

Under terms of the agreement, members of Humana's ChoicePPO Medicare Advantage Plan will have access to all inpatient, outpatient and emergency services provided by the 240-bed HMC East at 2226 Liliha St. and the 102-bed HMC West Campus at 91-2141 Fort Weaver Road in Ewa Beach.

AT&T expanding wireless coverage

AT&T is planning to expand its Hawaii third-generation wireless broadband network this year by adding 10 new cell sites throughout the state.

The expansion builds coverage in areas such as Wheeler and Waikele on Oahu; Haiku on Maui; Kekaha and Kalepa-Wilcox Hospital on Kauai; and Orchid Land-Paradise Park, Hilo Hospital and Paauilo on the Big Island as well as adding 3G capacity throughout the state.

The company said yesterday its total capital investment in the state from 2006 through 2008 was $85 million. In 2008 a handful of new cell sites were added, and most existing sites throughout the state were upgraded to expand network coverage.

Additionally, infrastructure was added to increase network reliability in the event of a catastrophic occurrence.

AIG sells Japan headquarters for $1.2B

CHARLOTTE, N.C. » Embattled insurer American International Group Inc. said yesterday it is selling its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion in cash.

The transaction, which is among the biggest divestitures New York-based AIG has made to reimburse the U.S. government for its massive infusion of aid, is expected to close in the second quarter.

The 35-year-old building is 15 stories high and sits on prime real estate in central Tokyo, next to the Imperial Palace.

The property consists of about an acre of land, the company said.

On the move

» Bella Pietra has promoted Creighton Hartling to sales assistant and samples specialist. He was previously in the company's warehouse as well as having experience in installing and grouting stone, ceramic flooring and countertops for American Granite.

» Bank of Hawaii has announced the following promotions: Dorinda N. “;Doree”; Collier to vice president for Customer Relationship Center from assistant vice president—she was previously call center manager and sales and service supervisor for Royal State Financial Corp.; Marlene J.L. Pestana-Gualdarama to vice president of Bankoh Call Center from assistant vice president—she joined the bank in 1980 as an operations clerk; Calvin T. Yoza to vice president of Channel Management Group from assistant vice president—he joined the bank in 1992.