[WINNERS & LOSERS]

[WINNERS]

Investors, who saw the Nasdaq come roaring back to life this week. Both the Nasdaq and the S&P 500 are approaching the same levels they had at the beginning of the year. The Dow hasn't fared as well.

Hawaii company Shamrock -- The Trinity Corp., which is taking large hotels into the ozone layer. The company sells very expensive -- try six figures -- systems to add ozone to water used for cleaning, replacing the need to heat the water. Large hotels, which clean mountains of towels, can then save a lot -- try six figures -- on electricity bills.

Members of Local 5 of the Hotel Employees & Restaurant Employees, AFL-CIO, which -- coincidentally or not -- are staging a one-day walkout tomorrow just as attention is focusing on Waikiki for the Asian Development Bank meeting. The union represents 5,000 members at several hotels in Waikiki, including those where participants at the ADB conference will be staying. Regardless of whether a contract is settled this weekend, union leaders say workers will stay away from work Monday. Conference attendees can just lug their own bags to their rooms.

[LOSERS]

Hawaii Visitors and Convention Bureau's "May Day is Lei Day" promotion did a wonderful job, distributing 34,000 lei in 17 cities around the world. Unfortunately, the PR stunt also did a fine job plugging Thailand -- the source of nearly half the lei.

University Health Alliance, a local health insurer caught with its hands in the reserves, which are mandated to be off-limits to insurance plans, in case they go belly up. UHA executives say the company will rebuild a $740,000 shortfall in the reserves, and indeed, the company was $600,000 ahead last quarter. Even so, state Insurance czar Wayne Metcalf is keeping an eye on UHA.

Reinforcing the bad week for insurance companies, Hawaii Medical Service Association reported a $49 million operating loss last year, leading the company to raise its rates. 2000 marked the third straight year of operating losses. The most recent shortfall was offset by investment income, the company said. However, the poor market so far this year may mean the end of that saving grace.

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[TAKING NOTICE]

NEW JOBS

>> Jeffrey Lunn, MD, has been named chief of anesthesiology at Straub Clinic & Hospital. Lunn is board certified in anesthesiology and critical care medicine. He joins Straub after 18 years at the Mayo Clinic in Rochester, Minn. and in Scottsdale, Ariz.

>> Brian Tamamoto has been named managing partner at Human Resources Solutions. He will be responsible for sales and marketing, training and business development. He will also serve as human resources consultant. Prior to joining Human Resources Solutions, Tamamoto was director of labor relations at Aloha Airlines.

>> Michele Nagamine has been named director of sports sales for Outrigger Hotels & Resorts. She will be responsible for increasing Outrigger's sports group business, with a focus on the company's OHANA brand. Nagamine was previously director of coaching development for the National Soccer Academy and a partner at local soccer retailer Soccerama. She is also the girls varsity soccer coach at Kamehameha Schools.

PROMOTIONS

>> Eric Leterc has been named executive chef of the Pacific Beach Hotel. He will oversee operations for all three of the hotel's restaurants: Neptune's Garden, Shogun Restaurant and the Oceanarium Restaurant.

>> Pericles (Peri) Manthos has been named vice president and manager of Carter & Burgess' Hawaii operations. He will be responsible for business and operations oversight at the company's Bishop Street offices. Manthos was previously based out of the company's Phoenix offices, where he led the pursuit of major transportation program and construction management assignments. He served as the Hawaii state highways administrator before joining Carter & Burgess.

ON THE BOARD

>> The following people have been named new members of The Hawaii Business Round-table: Steven Ai, president and CEO of City Mill Co.; Ronald Migita, president and CEO of City Bank; Jeffrey Watanabe, executive committee chairman of Watanabe Ing & Kawashima; John Monahan, president and CEO of Liberty House; and Harry Saunders, president of Castle & Cooke Hawaii.

>> CB Bancshares Inc. named the following people directors after its April 26 annual shareholders meeting: Duane K. Kurisu, partner with Kurisu & Fergus; Mike K. Sayama, vice president of health benefits management at the Hawaii Medical Services Association; and Tomio Fuchu, counselor at Kyokuto Securities Co., Ltd. Kurisu and Sayama are new directors. Fuchu was re-elected by shareholders.

RECOGNITION

>> Michael Pavkovic has been named a fellow of the International Napoleonic Society. Pavkovic, associate dean of arts and sciences and military studies coordinator at Hawaii Pacific University, was honored for his efforts to promote the study of the Napoleonic Era in accordance with proper academic standards.