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POSTED: Saturday, August 29, 2009

Mesa Air to countersue Delta Air

Mesa Air Group Inc. said it will fight Delta Air Lines Inc.'s attempt to end its contract with its regional airline subsidiary Freedom Airlines Inc.

Delta filed suit Aug. 19 seeking to end the Delta Connection agreement with Mesa and Freedom, claiming Freedom breached the contract.

But in the filing yesterday with the U.S. Securities and Exchange Commission, Mesa said it “;vehemently denies”; there is any basis for Delta's request.

Mesa, the parent of interisland carrier go!, said it “;intends to vigorously defend its rights”; and expects to countersue Delta. It accuses the world's biggest airline operator of “;bad faith actions”; and breaches of contract.

Mesa said Freedom's alleged contract breach relates to Delta's efforts to cut costs at Freedom.

 

Watts Constructors gets $22.3M pact

Watts Constructors has been awarded a $22.3 million contract by the U.S. Army Corps of Engineers to build a Combined Arms Collective Training Facility in Kahuku.

The facility will include multiple range training buildings along with additional administrative and training areas.

Watts will be responsible for site and grading, roadways and parking, utility infrastructure, environmental mitigation/compliance, foundations, single and multistory concrete masonry units and steel construction.

The company, which is based in Honolulu, has more than $410 million in federal contracts under construction in Hawaii, including the $32 million replacement of the USS Arizona Memorial Visitor Center.

 

Sun loses $147M as Oracle deal nears

SAN FRANCISCO » Sun Microsystems Inc. recorded a $147 million loss while sales eroded 31 percent in the April-June period — likely the server and software maker's last full quarter as an independent company.

Sun's latest numbers, reported yesterday in a regulatory filing without the usual news release and conference call with analysts, highlight the uneven financial performance that forced the Santa Clara, Calif.-based company to put itself up for sale.

In April Oracle Corp. outbid IBM Corp. and agreed to buy Sun in a $7.4 billion deal. It is due to wrap up this summer but still needs approval from European regulators.

Bank failures swell to 84 in 2009

WASHINGTON » Regulators shut down small banks in California, Maryland and Minnesota yesterday, pushing to 84 the number of bank failures this year.

The Federal Deposit Insurance Corp. took over Baltimore-based Bradford Bank, with about $452 million in assets and $383 million in deposits. It also seized Mainstreet Bank, based in Forest Lake, Minn., with assets of $459 million and deposits of $434 million.

 

ON THE MOVE

;  Hawthorne Cat has promoted Mike Carcioppolo to corporate manager of rental services. He has worked for the company for more than 20 years and held positions including parts/rental counter person, branch manager, product support sales representative, rental developer and heavy rents manager.

» The Hawaii chapter of the Chartered Property Casualty Underwriters Society recently installed 2009-2010 officers: president, Tyler Tokioka of Island Insurance; vice president, Young Park of State Farm Insurance; treasurer, Russell Henna of State Farm Insurance; and secretary, Shaun Nelson of First Insurance.