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Business Briefs

Reported by Star-Bulletin staff & wire

Tuesday, January 30, 2001

CitiFinancial to shut its Kalihi offices

CitiFinancial, a Baltimore-based consumer financial services company, is closing its Kalihi offices at 419 Waiakamilo Road, affecting 21 employees.

The branch will close March 31, according to a report filed today with the state Department of Labor & Industrial Relations. Company officials could not be reached for comment. In the filing, it said the employees would be laid off "or otherwise affected."

CitiFinancial, formerly known as Commercial Credit, is a subsidiary of Citigroup Inc. CitiFinancial has more than 2,100 offices in North America, including several throughout Hawaii, and provides credit card and lending services as well as credit-related insurance.

Grosvenor Center takes new name

The Grosvenor Center on Bishop Street has been renamed the Pacific Guardian Center, following last year's purchase of the building's full leasehold interest. Meijiseimei Realty (USA) Inc., a subsidiary of Japan's Meiji Life Insurance Co., in October bought the 50 percent interest in the 620,000-square-foot complex that it didn't already own.

Pacific Guardian is a local Meiji Life unit, and will manage the center's assets, which include two office towers.

Sia fails to get 2 counts dismissed

A federal judge has denied a motion by indicted businessman Sukamto Sia to dismiss two counts of making false statements during bankruptcy proceedings.

Sia believed the two counts were basically the same as another count, but U.S. District Judge Alan Ezra late yesterday afternoon denied the bankrupt financier's motion. Sia, former chairman of Bank of Honolulu, is scheduled to go to trial May 22 on charges of bankruptcy fraud and money laundering.

In other news . . .

SEATTLE -- Amazon.com Inc. today posted a reduced quarterly loss, just beating Wall Street estimates, but said it would cut 15 percent of its work force, or about 1,300 jobs.