Business briefs


POSTED: Tuesday, October 20, 2009

Kahuku nurses OK 3-year contract

Kahuku Hospital nurses have ratified a three-year contract that includes increases in shift differentials for both evening and night shifts, an increase in on-call pay, one additional paid premium holiday and a doubling of life insurance to $20,000 from $10,000 at no cost to employees.

Eighty percent of those voting ratified the agreement.

“;The contract contains excellent provisions, and due to the hospital's emergence from bankruptcy, the (registered nurses) agreed to compensation stabilization for the first year, with compensation re-openers in the last two years of the contract,”; Hawaii Nurses' Association Executive Director Patt A. Gibbs said.

Kahuku Hospital also will absorb all health plan coverage premium increases from July 1, 2009, to June 30, 2010.


Philippines, Samoa wire fees waived

Central Pacific Bank said it is waiving fees for wire transfers to the Philippines and Samoa for its checking account customers until Nov. 30 in response to the recent devastating storms in those areas.

Wire fees normally range from $35 to $70, depending on the amount and country destination.


Firm offers 'Furlough Friday' offset

Longtime Hawaii business Title Guaranty of Hawaii will partially reimburse full-time employees who have to pay for child care on “;Furlough Fridays”; when public schools their children attend will be closed.

“;We are a family company, and at the root of our whole operation is family,”; said Michael A. Pietsch, chief executive officer. “;Our hope is that this program will alleviate some of the financial pressure our employees will face.”;

About 60 employees have children in public schools that will be affected by teacher furloughs.


Ko Olina Center signing on tenants

Just Tacos is the newest tenant to sign a lease at Ko Olina Center. The Beall Corp., which is leasing the project, says Just Tacos will be opening a 3,300-square-foot cantina sometime early next year.

Other tenants that also have signed leases include ABC Stores, which will open a 6,000-square-foot Gourmet Market, along with Wyland Grille, which will open a two-story, 10,000-square-foot seafood restaurant.

The Honu Group is developing Ko Olina Center and Ko Olina Station, two mixed-use commercial developments at Ko Olina Resort & Marina. The projects are expected to offer a total of about 56,000 square feet of retail and commercial space.


Icahn offers CIT Group $6B loan

NEW YORK » In another sign that CIT Group Inc. is struggling to restructure its debt, billionaire investor Carl Icahn offered the lender a $6 billion lifeline. In a letter yesterday to CIT's board of directors, Icahn said he would give the company the loan to replace a debt restructuring plan CIT has asked bondholders to approve.

Icahn, who is a CIT bondholder, said in his letter the $6 billion loan would save the company $150 million in fees.



;  Prudential Locations has hired Michele An as director of transaction management. She has 20 years executive level experience in operations, sales, marketing, escrow, title, finance and real estate law. Also, Joan Barlett was named sales manager at the Diamond Head office. She has more than 30 years real estate experience. Thaila Kaikana was named marketing specialist. She has more than 12 years experience in the marketing and travel industry.