Business Briefs
Reported by Star-Bulletin staff & wire

Sunday, January 13, 2002

Taking Notice


>> Loomis Inc. has named Arkie Koehl president and chief executive officer. He replaces agency founder Jim Loomis, who will continue as a consultant to the agency. Koehl has more than 30 years of marketing and advertising experience, including time on Madison Avenue with Ogilvy & Mather and the former Lintas agency. He spent a decade overseas with McCann-Erickson in Mexico City and Tokyo.

>> The Ke Alii Pauahi Foundation, a support organization of the Kamehameha Schools, has named Ko Miyataki director of development. Miyataki will be responsible for directing the fundraising strategy and implementation necessary to increase educational opportuni- ties for Native Hawaiians. She most recently served as president of Rehabilitation Hospital of the Pacific Foundation.

>> Kuakini Health System has named Lynette Tsukamoto manager of its human resources department. She will oversee daily operations of the department, as well as assist other departments with preparations for the Joint Commission on Accreditation of Healthcare Organizations survey. Tsukamoto joins Kuakini Heath System after managing human resources at the Hawaiian Regent Hotel.

>> Sabine Glissmann has been named director of food and beverage at the Halekulani. She most recently served as director of food and beverage at The Park Hyatt in Hamburg, Germany.

>> Jon Donlin has been named work force development services director at Lanakila Rehabilitation Center Inc. He previously served in management positions at Goldfinger Hawaii and Consolidated Amusement Company Ltd.


>> McInerny President and CEO Michael Windsor will head a new management committee responsible for the overall direction and strategy of the retailer's 18 stores. Windsor will serve as general Manager and controller of the committee. Other members are Art Eberhardt, Julie Plant and Ann Yamaguchi. Yamaguchi also has been promoted to merchandise manager. Formerly a swimwear buyer, she has been with McInerny since 1989. Eberhardt is operations manager and has nearly 20 years of McInerny experience. Plant joined McInerny in 1998 as an assistant store manager, was subsequently promoted to Galleria store manager and then to manager of all 18 stores.

>> The Maui Marriott Resort & Ocean Club has promoted Alex Ahluwalia from food and beverage director to director of operations. He will oversee all operations of this oceanfront resort, which features a combination of hotel and vacation ownership villas. Ahluwalia has more than 13 years of operations experience, previously working at the Renaissance Wailea Beach Resort, Renaissance Denver Hotel and the Renaissance Los Angeles Hotel.

>> First Hawaiian Bank has promoted the following individuals to senior vice president: Adolph F. Chang, media finance division; Robert S. Harrison, Kapiolani Banking Center; Katharine P. Lloyd, trust and investments division; and Lance A. Mizumoto, Main Banking Center.


>> Carol Pregill has been named president of the 2002 Aloha Festivals board of directors for the 2002 celebration. Pregill, executive director of the Retail Merchants of Hawaii, has volunteered with Aloha Festivals for the past 10 years. She will announce the theme and unveil the logo for this year's festival during installation ceremonies for the 44 board of directors members Friday at the Hilton Hawaiian Village. Other executive board members are: Valery O'Brien, Kamehameha Investment Co.; Mark Polivka, Monarch Insurance Inc.; Don Takaki, Island Movers; Leolani Kini, Colwell Banker Commercial Pacific Properties; Patrick Leonard, Star 101.9 FM; Murray Towill, Hawaii Hotel Association; and Gilbert Butson, Reinwald O'Connor and Playdon Law Corp.


>> Junior Achievement of Hawaii has named six new Laureates who will be inducted into the Hawaii Business Hall of Fame on March 14. The honorees include: Jeffrey Bloom, executive director of Computer Training Academy/Network Resource Center; Lloyd Jones and Jon Martin, chief executive officer and president, respectively, of Martin & MacArthur; and Kitty Lagareta, chairman and chief executive officer of Communications-Pacific Inc. Two Legacy Laureates are: the late Richard S. Miyashiro, founder of Café 100 Inc.; and the late Roswell M. Towill, founder and chairman of the board emeritus, R.M. Towill Corp. Forty-three individuals have been selected for the Hawaii Business Hall of Fame since it was established in 1990. The new Laureates will be honored at an awards dinner March 14 at the Sheraton Waikiki. Tickets for the dinner are $75. Call 545-1777, ext. 15, for reservations and more information.

>> The Hawaii Business Education Association has named Derek Kurisu the recipient of its Distinguished Service Award for Outstanding Contribution to Business Education for 2002. Kurisu is executive vice president of perishable operations at KTA Super Stores in Hilo. He developed milk vending machines programs at Waiakae High, Hilo High and Honokaa High School; worked with students to develop "real time" business experiences; and created television advertising for students to air on the "Living in Paradise" program. Other winners are: Sheri Kojima, teacher for the marketing program at Waiakea High School, Secondary Educator of the Year Award; Ellen Nagaue, a professor at the University of Hawaii Employment Training Center for 28 years, Post-Secondary Educator of the Year Award; Geraldine Kabei, professor and coordinator for continuing education and training at UH Employment Training Center, Distinguished Service Award for Outstanding Contribution to Business Education by an Administrator; and Douglas Dykstra, acting dean of instruction at Leeward Community College, Distinguished Service Award for Outstanding Contribution to Business Education by an Administrator. They will be honored at the Hawaii Business Education Association 32nd Annual State Conference Jan. 26 at the Radisson Waikiki Prince Kuhio Hotel. For ticket or more information, call 455-042, e-mail or visit

Daiei's rating cut to 'CCC-pi' by S&P

KOBE, Japan >> Daiei Inc.'s credit rating was cut by Standard & Poor's, which described support for Japan's No. 2 retailer being discussed with its biggest lenders as a "form of selective default."

The U.S. rating agency cut the rating of Daiei two notches to "CCC-pi" from "CCC+pi," saying "debt forgiveness or any form of capital restructuring" is a "form of selective default, even if the issuer continues to make timely payment on its other obligations."

S&P also said it may lower the rating to "CCpi," should the retailer and its major creditors reach an agreement.

Japan's Takenaka says yen near fundamentals

LONDON >> Japan's Economics Minister, predicting his country's economy could see further downside in the next three to six months, said last week he believed the embattled yen was close to the level justified by fundamentals.

Heizo Takenaka was speaking during a visit to London in a week that has seen the yen tumble to a three-year low against the dollar, prompting words of caution from other Japanese officials that the pace of its decline may have been too rapid. "Exchange rates are decided by the markets. We don't have any intention to intervene (in) that," he said.

Japan, South Korea and China talk economics

TOKYO >> Japan, China and South Korea will hold economic talks among their senior officials Wednesday in Tokyo to reinforce trilateral cooperation on the international stage.

The participants are expected to trade views on international economic issues, including those involving the World Trade Organization and the Asia-Pacific Economic Cooperation forum, the Japanese Foreign Ministry said.

Trade policy experts will represent each country at the one-day talks.

Dairy Queen offers Mavericks owner a job

MINNEAPOLIS >> Dairy Queen has an offer for Dallas Mavericks basketball team owner Mark Cuban -- you try running one of its ice cream restaurants.

The response came after the self-made billionaire invoked the chain's name in criticizing National Basketball Association director of officiating Ed Rush, Reuters news service reported.

"Ed Rush may have been a great ref, but I wouldn't hire him to manage a Dairy Queen," Cuban told the Dallas Morning News, part of a comment that earned him a record $500,000 fine from the league.

Dairy Queen issued a press release saying it liked the publicity Cuban generated for the chain, which is owned by Warren Buffett's Berkshire Hathaway Inc. But director of communications Dean Peters made him an offer.

"Mr. Cuban may be surprised to find out how much it takes to manage a Dairy Queen," Peters said "We invite Mr. Cuban in to manage a Dairy Queen for a day."

Morgan Stanley CEO may sell $11.3 million in stock

WASHINGTON >> The chief executive of Morgan Stanley has indicated he may sell about $11.3 million in stock of the investment bank, a U.S. regulatory filing showed.

Philip Purcell, who is also chairman of the New York firm, planned to sell 200,000 shares of common stock, according to a filing made with the U.S. Securities and Exchange Commission.

The shares were acquired after exercising options granted in June 1997, the SEC document, which was filed Jan. 3, showed.

ABC Entertainment co-chief resigns

LOS ANGELES >> Walt Disney Co.'s ABC Entertainment co-Chairman Stuart Bloomberg, who helped bring "Who Wants to Be a Millionaire" to the television network, resigned after audience ratings fell 17 percent in the past year, Bloomberg News reported.

Susan Lyne, former executive vice president of movies and miniseries at ABC, was named president of ABC Entertainment.

The unit's co-chairman, Lloyd Braun, will become chairman, ABC said in a statement.

Disney Chief Executive Michael Eisner has said that reversing ABC's lagging ratings is a top priority.

Since Bloomberg was named chairman in 1997, ABC has fallen from second to fourth place in the ratings among viewers aged 18 to 49, a group highly valued by most advertisers.

Bloomberg, along with Braun, scheduled the popular TV quiz show "Millionaire" four nights a week last year, hurting ABC's advertising sales by driving away younger viewers.

French economy grows 0.5 percent in quarter

PARIS >> The French economy grew at a relatively robust 0.5 percent in the third quarter of 2001, helped by an increase in household consumption.

The increase in third-quarter gross domestic product was fueled largely by a 1.1-percent quarterly rise in household consumption, said government statistics institute INSEE.

Last month, INSEE said it expected economic growth in France to slow nearly to a standstill in the fourth quarter, projecting growth of 0.1 percent. The institute also expects 0.1 percent growth in the first quarter of 2002.

Crossair ticket money seized by French court

BASEL, Switzerland >> A court in Paris has ordered the seizure of $1.2 million belonging to Swiss airline Crossair. Crossair spokesman Markus Baumgartner said the confiscated money came from ticket sales by French travel agents. The seizure is part of a dispute between Crossair and French carrier Air Lib, which last month sued the Swiss company, claiming $404 million in damages.

Air Lib -- created out of French airlines AOM and Air Liberte -- says Crossair is liable for losses it suffered after the collapse of Swissair, the former parent of both airlines.

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