Business briefs


POSTED: Monday, December 07, 2009

AOL, Time Warner to split in 2 days

SAN FRANCISCO » AOL, founded by former Hawaii resident Steve Case, is shaking loose from Time Warner Inc. and heading into the next decade the way it began this one, as an independent company.

Unlike the 1990s, though, when AOL got rich selling dial-up Internet access, it starts the 2010s as an underdog, trying to beef up its Web sites and grab more advertising revenue.

This week, investors will get a chance to place bets on AOL. On Wednesday, Time Warner shareholders as of Nov. 27 will get one share of AOL for every 11 of their Time Warner shares. The next morning, AOL CEO Tim Armstrong is set to ring the opening bell at the New York Stock Exchange, and AOL will begin trading under the ticker symbol of the same name.


Sprint 4G wireless service launches on Oahu and Maui

Kansas-based Sprint Nextel Corp. has initiated its 4G mobile broadband service throughout Honolulu and on Maui.

4G technology functions at times up to 10 times faster than 3G service, according to a company statement. Sprint's 4G service is carried on the Clearwire WiMAX network, as the company owns 51 percent of Clearwire.

Separately, Clearwire Communications LLC announced expansion of its sales operations in Honolulu and Maui. Clearwire service covers 1,759 square miles over Oahu, Maui and Lanai, according to a statement.


Kauai McDonald's restaurants get new owners

The five McDonald's restaurants on Kauai are under new ownership, according to an announcement by McDonald's Restaurants of Hawaii.

Frankie and Darlene Chung, who started out as crew members with the company some 30 years ago, bought the restaurants from the company for undisclosed terms.

Frankie was recently operations manager for the statewide company, while Darlene was an operations consultant. The couple has moved to Kauai to run the restaurants.


Get week's worth of plate lunches for adopting a pet

L&L Drive-Inn owner Eddie Flores is offering a week's worth of free plate lunches to the first 20 people to adopt a pet from the Hawaiian Humane Society at his Walmart eatery tomorrow.

The offer is limited to one plate lunch per day.

Both the Adoption Program and Holiday Pet Toy Drive will be held at the L&L Drive-Inn at 710 Keeaumoku St. from 10 a.m. to noon.


Auahi Street fitness center opens this afternoon

Strength and Conditioning Fitness Academy will celebrate its grand opening at 5 p.m. today.

The fitness-training center at 679 Auahi St. will offer membership specials at the event, and people are encouraged to dress appropriately to work out and participate in sample exercises. The owner, Brandyn Akamine, is a three-time state divisional champion in power lifting, a multiple-time bodybuilding competitor, a Special Olympics coach and a former mixed martial arts fighter.

For more information, call Akamine at 561-8723.


Coming up

» Today: Federal Reserve releases consumer credit data for October.

» Tomorrow: Labor Department releases job openings and labor turnover survey for October.

» Wednesday: Commerce Department releases wholesale trade inventories for October.

» Thursday: Labor Department releases weekly jobless claims.

» Friday: Commerce Department releases retail sales for November and business inventories for October.