Business Briefs


POSTED: Tuesday, June 02, 2009

Young Bros. to credit freight charges

Young Bros. will be crediting customers' freight charges after determining that its fuel-price adjustment beginning today will be a negative number, minus 1.01 percent.

The negative adjustment is in response to decreased average fuel costs over the last three-month period and increased fuel efficiency.

State bankruptcies up 42% in 2009

Hawaii bankruptcies rose 62.3 percent in May from the year-earlier period and through the first five months of 2009 were up 42 percent, according to final data released yesterday by U.S. Bankruptcy Court. There were 250 filings last month, up from 154 in May 2008.

Theater company selling bonds

Wallace Theater Holdings Inc., which does business as Hollywood Theaters and Wallace Theaters in Hawaii, 17 other states, Guam, American Samoa and Saipan, plans to sell $150 million of notes due 2013.

“;We're raising capital to deal with company issues, and it's just a capital-raising situation,”; said Scott Wallace, chairman and chief executive officer.

The notes will offer interest rates in excess of CD rates.

Box-office revenue is up 15 percent in the first four months of this year versus last year, he said.

Waiakamilo McDonald's to be rebuilt

McDonald's of Waiakamilo closed yesterday to undergo a complete rebuild that will include a contemporary new look and design for both the interior and exterior, modifications to the drive-through and a special coating on the roof that reflects the sun and helps reduce the amount of electricity spent on cooling. The restaurant will reopen in the fall.

Clean Energy Day set for Saturday

The University of Hawaii at Manoa is hosting Hawaii Clean Energy Day on campus from 9 a.m. to 4 p.m. Saturday.

Besides free lectures on sustainability and renewables, there will be environmental family-friendly films and green workshops for the business, home and garden.

The keynote speaker will be Christine Ervin, the first president and chief executive of the U.S. Green Building Council.

Advance registration is required. Go to http://www.outreach. hawaii.edu/summer/hced/default.asp. Cost is $25 for general admission and $15 for students and seniors.

On the move

Central Pacific Bank has announced the following promotions and hires:

» Lisa L.H. Nillos to vice president and senior underwriter from assistant vice president and senior underwriter. She has 10 years of banking experience, including management associate, small business relationship officer and commercial banking associate at another financial institution.

» Ida Ferris as vice president and commercial branch manager of Central Pacific Bank's Kahala Branch in East Oahu region. She has 27 years' banking experience, including branch manager and manager of priority banking wealth offices in various locations of Union Bank of California.

» Jason Martinson as vice president and commercial branch manager of Central Pacific Bank's Pearl Highlands Branch in the West Oahu region. He has more than 10 years' experience in the financial industry, including account executive for Countrywide Home Loans, senior loan officer for Central Pacific HomeLoans and assistant vice president and branch manager for Bank of Hawaii.