Business briefs


POSTED: Tuesday, October 27, 2009


Kozuma re-elected as Teamsters boss

Ron Kozuma, president of the Hawaii Teamsters and Allied Workers Union Local 996, was re-elected to a second three-year term, the union announced yesterday.

Members of the Teamsters' current executive board were also re-elected to a second term.

The Teamsters represent more than 6,000 members statewide and on Guam. The ballots were counted and final results were confirmed by the League of Women Voters.

In addition to Kozuma, the other officers re-elected include Millie Downey, secretary-treasurer; Bernard Nunies, vice president; Anthony Badayos, recording secretary; and Mel Vendiola, Vidal Ranion and Elena Paongo, trustees.


Verizon net off 30% on restructuring

Verizon Communications Inc. reported a 30 percent drop in third-quarter earnings yesterday as it couldn't sign up enough new subscribers to offset higher costs from laying off workers and absorbing an acquisition.

The nation's second-largest phone company is evolving its business — managing the downturn of its land-line phone business and putting more emphasis on cell phones and its fiber-optic FiOS TV and Internet service. Verizon said it is halfway through cutting the jobs of more than 8,000 employees and contractors by year's end. Verizon earned $1.18 billion compared with $1.67 billion a year ago.


Newspaper circulation down 10.6%

NEW YORK » The decline in U.S. newspaper circulation is accelerating as the industry struggles with defections to the Internet and tumbling ad revenue.

Figures released yesterday by the Audit Bureau of Circulations show that average daily circulation dropped 10.6 percent in the April-September period from the same six-month span in 2008. That was greater than the 7.1 percent decline in the October 2008-March 2009 period and the 4.6 percent drop in the April-September period of 2008. Sunday circulation fell 7.5 percent in the latest six-month span.


ING to split itself, issue new shares

AMSTERDAM, Netherlands » European services giant ING Groep NV said yesterday it will split itself in two, spinning off its insurance arm to simplify its business and issuing 7.5 billion euro ($11.3 billion) in new shares to repay state bailout money. The dramatic change in strategy caps a year of cutting costs and selling operations since the financial crisis struck, when ING was kept afloat only with two major rounds of assistance from the Dutch state.


Ex-Aloha CEO buys POS Hawaii

POS Hawaii, a Honolulu-based point-of-sale system company, has been purchased by former Aloha Airlines Chief Executive Officer Maury Myers and Kent McConnell, a former IBM and ADP sales executive.

The company, which currently operates out of Kailua, will be relocated to the Leeward business district.

Myers previous ran Aloha from 1985 through 1993.

McConnell will take over as president of POS Hawaii, with Meyers serving as co-owner of the company.



;  RevoluSun has hired Kim Green as project developer. He has more than 30 years' construction experience and previously was a project coordinator for Homeworks Construction.

American Payroll Association, the Hawaii chapter, has announced its board members: Jason Daley, president; Leila Kagawa, vice president; Wallace Kam, treasurer pro tem; Jenny Pettingill, secretary; Shawn Woo, activities chair; Elaine Ishikawa and Julie Takushi, community services; Janice Nakamura, education; Julia Chang, historian; David Kaya, membership; Jane Inouye, neighbor island outreach; and Stephanie Kaumeheiwa, webmaster.