Business Briefs


POSTED: Friday, May 15, 2009

Time-share directors want jobs back

Independent directors of the Hanalei Bay Resort Vacation Owners Association who were removed from the board have filed suit seeking reinstatement and the removal of their replacement directors, who they allege have ties with current and former resort management.

The directors, who say that they represent 5,370 interval owners at the Kauai resort, filed their petition on May 7 in the 5th Circuit Court. Among their demands, they have asked that a court receiver be appointed.

According to the petition, the troubles started when Celebrity Resorts of Hanalei Management Co. assumed management of the resort last summer after purchasing it from Quintus Vacation Management. The petitioners allege that Celebrity Resorts refused to provide them with resort operating information, rented out the intervals of delinquent or defaulted time-share owners and retained the money rather than providing it to the Vacation Owners Association. Celebrity Resorts also paid property taxes for the VOA units late, failed to promptly send out maintenance fee bills and unilaterally changed VOA program rules, they said.

However, when the VOA questioned Celebrity about these practices, the new management challenged the legitimacy of the board and removed four independent directors and replaced them with senior officers and directors of Celebrity Resorts, the petition said.

Ka Makana townhomes snapped up

In the last two weeks, Hawaii buyers have purchased nearly three dozen resort residences at Ka Makana at Hoakalei in Ewa Beach, including single-family homes and the entire first phase of townhomes.

A series of townhomes called Lehua began sales on April 25. A second increment of townhomes is expected to be released later this month.

Upon completion, Ka Makana will be made up of approximately 890 single-family houses and townhouses scattered throughout a 140-acre private community. An Ernie Els-designed golf course opened earlier this year in the community.

Nike to cut about 1,750 jobs globally

Nike Inc., the world's largest athletic-shoe maker, will cut about 1,750 jobs around the world, more than it initially projected, to reduce management costs amid the recession. The cuts amount to 5 percent of Nike's work force of 35,000, the company said yesterday.

Meanwhile, the planned closure of Niketown at King Kalakaua Plaza in Waikiki has been delayed from the end of May to an undetermined date. Nike spokeswoman Mary Remuzzi confirmed that Nike still intends to close the store.

There will be 69 employees affected by the Waikiki closure, according to the state Department of Labor.

State to get $10.2M in jobless funding

Congresswoman Mazie K. Hirono (D-Hawaii) said yesterday that Hawaii will receive $10.2 million in U.S. Department of Labor funding for unemployment insurance modernization through the American Recovery and Reinvestment Act.

The state Labor Department can use the funds to pay unemployment benefits or, if appropriated by the state Legislature, for administering its unemployment insurance program or delivering employment services.

On the move

» Bank of Hawaii Corp. shareholders have elected the following to the company's board of directors: Peter Ho, president of the bank since April 2008, who also has served as vice chairman and chief banking officer since January 2006; and Mark Burak, a management consultant based in Honolulu.

» Ashford & Wriston LLP has announced that Michael Vieira and Kevin Herring have been designated as LEED (Leadership in Energy and Environmental Design) accredited professionals by the Green Building Certification Institute. Vieira and Herring are the first Hawaii attorneys to achieve this accreditation.