Sunday, May 13, 2001
[WINNERS & LOSERS]
BancWest chief Walter Dods, who stands to make a beaucoup $20 million or so from stock holdings if French bank PNB Paribas is successful in buying the 55 percent of BancWest it doesn't own. BancWest shareholders, no matter their size, also stand to make out, since PNB is offering $35 a share, a 40 percent premium from the stock's closing price prior to the deal's announcement. [WINNERS]
The Asian Development Bank, which found Honolulu to have about 4,000 fewer protesters than the location of its last annual meeting, Chiang Mai, Thailand.
Kauai Coffee Co., which is getting help from above -- quite literally. The company is using a NASA-sponsored unmanned solar-powered aircraft to fly over its fields and use special optics to shoot color images that will help the company determine exactly which acres are prime for harvesting, all so we can have a better cup of java.
Hawaii small businesses, which will have to fork over 9 percent more for health insurance premiums with the Hawaii Medical Service Association. The premium hike is not unexpected. HMSA recently announced it lost $49 million last year, and rates have risen by 8 percent or more for three years in a row. [LOSERS]
American Classic Voyages, for a sinking quarter. The cruise ship company lost almost twice as much in the first quarter, $12.7 million, as it did a year ago. Its Hawaii operations haven't helped, with business on the S.S. Independence below water. And just as American Classic added the ms Patriot, demand slumped. The company also had to pull both ships out of service for repairs.
ML Macadamia Nut LP, which posted a quarterly loss of $416,000 from tiny prices for mac nuts and an ongoing contract dispute with its exclusive buyer, Mauna Loa Macadamia Nut Corp. In addition to low prices for the nuts, ML Macadamia is adding onto legal costs associated with pursing the case, which is scheduled to be in court May 18.
[TAKING NOTICE]
>> Caroline Ward Oda has been named head of school by St. Andrew's Priory. She had been serving as interim head of school since July 2000. Oda is the first Priory graduate to lead the school's administration. NEW JOBS
>> Gary W. Jutz has been named general manager of the Radisson Waikiki Prince Kuhio Hotel. He will oversee day-to-day operations, financial performance and an upcoming planned renovation at the hotel. Previously, Jutz was general manager of a Radisson property in Alexandria, Va.
>> Matthew Bittick has been named managing director of the office services group at Grubb & Ellis/CBI. Bittick will direct the company in landlord and tenant representation and will also handle investment sales
>> First Hawaiian Bank has promoted Carol M. Ono to vice president of the project engineering department. Ono joined First Hawaiian in 1988. Mark H. Murakami, who has been with the bank since 1990, was named assistant vice president of the Kapiolani banking center. And Winton D.C. Young was named employee benefits manager for the trust employee benefits department. Young was hired in 1994. PROMOTIONS
>> Jana Hall has been named executive director of the Kapiolani Health Research Institute. She was formerly executive director of Kapiolani's genetics program.
>> Lorraine H. Akiba and Rochelle Lee Gregson have been named at-large members of the Hawaii Medical Service Association Community Board. Akiba is a partner in the law firm McCorriston Miller Mukai MacKinnon LLP and Democratic Party chairwoman. Gregson is director of Programs for the Hawaii Community Foundation ON THE BOARD
>> Joseph Pelot, director of Sera-Tec Biologicals, has received Plasmapheresis Establishment Director certification from ABRA, the international authority for the source plasma collection industry. PED certification is awarded to individuals who demonstrate proficiency in knowledge of rules and regulations governing the blood plasma collection industry. RECOGNITION
>> A. Robert Iverson was presented the 2001 American Counseling Association's Arthur A. Hitchcock Distinguished Professional Service Award at its annual meeting last month in Texas. Iverson received the award for outstanding service in the counseling profession. Iverson was dean of students at the Academy of the Pacific and has been active in the Hawaii Counseling Association, among other groups.