Business Briefs
Reported by Star-Bulletin staff & wire


New jobs

>> Roxxane Okazaki has been named president at Lifestyle Kitchens. The company, formerly known as The Cabintree Design Studio, also named David Okazaki chief executive officer. He will be responsible for management of the Lifestyle Kitchens construction division.

>> Hui Noeau Visual Arts Center has named Martin Betz president and chief executive officer. He was most recently director of exhibitions and special programs at the Long Beach Museum of Art in California. Betz has a strong background in performing arts programming, exhibitions and education programs, as well as experience in renovation and expansion of facilities.

>> Matt Claybaugh was recently promoted to president and chief executive officer of Marimed Foundation. Claybaugh started at Marimed as a youth counselor and most recently held the position of program director. Marimed Foundation also appointed Frank Shivers as chief operating officer. Shivers will oversee financial operations, MIS functions and human resources for the foundation. Previously, Shivers was CFO of Pacific Gateway Center.

>> Benchmark Hospitality has named Andrew Christie, Alex Doyle and Elizabeth Fitzgerald to positions at the Turtle Bay Resort. Christie, who had served as interim director of food and beverage at the resort, will serve as director of food and beverage. Fitzgerald was named director of special events and public relations at Turtle Bay. She joins the resort after managing catering, meetings and conventions at the Hilton Waikoloa Village. Doyle will serve as director of sales and marketing at the resort.

>> Lori Ho has been promoted to director of rehabilitation services at the Rehabilitation Hospital of the Pacific. She has been with the hospital since 1992. In addition, Edward Ontai and Peter Rossi have joined the staff at Rehab. Ontai will assume the newly-created position of vice president of business development. Rossi will serve as a rehabilitation neurologist on Rehab's medical team.

>> Kamehameha Schools Press recently hired Lori Bodine as its new program administrator. Her duties are to assist in developing policies, procedures and systems to ensure the smooth operation of the newly expanded press division. She also is involved with the development of the Kamehameha Schools Press Web site and responsible for administrative, operational, fiscal and human resources matters. Bodine most recently worked as a controller at The Bess Press Inc. Also at the Kamehameha press, Lilinoe Andrews was hired as senior book editor. Her responsibilities include content and copy editing of educational, scholarly and literary books and journals. She most recently served as director of publications for Aha Punana Leo.

>> Etsuji Umezu has been named chef de cuisine at The Orchid at Mauna Lani Hotel. He will be be responsible for the menu at the hotel's Brown Beach House. Umezu was most recently sous chef at the Manele Bay Hotel on Lanai.

>> Kuakini Medical Center has named Dean Silva manager of environmental services. He will oversee all groundskeeping, housekeeping, linen, laundry, painting and transport functions at the hospital. Silva joins Kuakini under contract from Sodexho. He previously served as environmental services operation manager at Straub Clinic and Hospital.


>> Steve Zidek has been named director of finance for the Pacific Islands area of Marriott International. He will be responsible for providing financial oversight for a number of Marriott properties in Hawaii. Zidek, who has been with Marriott International for more than 18 years, previously served as assistant general manager and director of finance at JW Marriott Hong Kong.

>> Victoria Hasty has been promoted to assistant vice president and business banking officer at First Hawaiian Bank. Other newly appointed officers include: Ralph F. Harris, vice president of trust real estate services; Paul G. Alimbuyao, assistant vice president of the trust operations department; Elizabeth D. Clark, assistant vice president and analyst of the financial management group; Jennifer Bond, officer of FHB programming; Steven T. Kakazu, audit officer in the audit division; Jan K. Panerio, operations officer in the corporate and international banking division; and Roberta M. Vitelle, customer service officer in the bankcard customer service department.

Japan and South Korea sign investment pact

SEOUL >> Taking their first step towards an ambitious free trade agreement, Japan and South Korea signed an accord last week to boost mutual direct investment.

Japanese Prime Minister Junichiro Koizumi and South Korean President Kim Dae-jung signed the pact, at a time when Japan and its former colony are trying to smooth out often testy bilateral ties before co-hosting the World Cup finals in May and June.

The agreement, a first for Seoul, is expected to help South Korea attract huge investment from Japan and make it easier for Korean companies to enter Japanese markets.

Daewoo to sell U.S. $100 million in car parts

Seoul >> Daewoo International Corp., an overseas trading company that broke away from Daewoo Corp. last year, said it won an order to provide $100 million of auto parts to an unidentified U.S. company over five years.

The South Korean company will provide about 18 million small motors used to adjust car seats manufactured by Daewoo Precision Industries Co., it said in a statement.

Australia wineries aim to boost Japan sales

Tokyo >> Australia's winemakers aim to boost sales five-fold in Japan by selling new brands at cheaper prices to undercut rivals in Asia's biggest wine market, said BRL Hardy Ltd., the world's No. 5 exporter.

Capturing 15 percent of Japan's $2.8 billion wine market by 2007 would replicate the tripling of sales over six years in the U.K., where Australia has 17 percent of the market and is second only to France, said regulator Australian Wine & Brandy Corp.

Australia's winemakers hope to repeat their success in the $19 billion U.S. market, according to Bloomberg News.

Lockheed CEO received $3 million bonus for 2001

WASHINGTON >> Lockheed Martin Corp. awarded Chief Executive Vance Coffman an annual bonus more than twice his $1.4 million salary, according an annual shareholder proxy.

Coffman received a 2001 bonus of $3 million, up from a $2.5 million bonus the previous year, the leading maker of fighter jets and missile systems disclosed in the proxy.

His salary was 11 percent higher than the $1.26 million he was paid a year earlier, as part of his 2001 executive compensation provided for what the company called "outstanding financial and performance results."

Buffett's '01 salary stayed unchanged at $100,000

WASHINGTON >> Berkshire Hathaway Inc. Chairman and Chief Executive Warren E. Buffett took home $100,000 in salary and $256,400 in other pay in 2001. The figures are virtually unchanged from the previous year, the company said in a regulatory filing.

Buffett's salary was identical in 2000, and his other compensation was $255,600 in that year. Buffett's other compensation consists of directors' fees received in cash or deferred phantom equity interests from non-subsidiary companies in which Berkshire has significant investments, according to the Berkshire proxy statement filed with the Securities and Exchange Commission.

Berkshire's highest-paid executive is vice president and chief financial officer Marc D. Hamburg, who was paid a $412,500 salary in 2001, up $14 percent from $362,500 in 2000.

Buffett's annual salary has been unchanged for 21 years, the filing said.

HotJobs CEO Boylan to step down next week

SUNNYVALE, Calif. >> Ltd.'s president and chief executive officer is stepping down from his position, effective March 31, to pursue new business opportunities.

Dimitri Boylan, 41, was a co-founder, chief operating officer and then CEO of HotJobs, an online recruitment company owned by Yahoo Inc.

Yahoo said Boylan will work on a consulting basis until May 31 to assist with the current transition. The company is conducting an outside search for Boylan's replacement. In February, Yahoo acquired HotJobs, which it plans to integrate into Yahoo's listings business unit.

Rogue trader Rusnak labeled files 'fake docs'

DUBLIN, Ireland >> John Rusnak, the rogue trader who ran up $691 million losses at the U.S. arm of Allied Irish Banks, carried out currency trades on his home computer using files labeled "fake docs", a report into the scandal revealed.

The report also found that Rusnak had been courted by brokers and traders in the foreign exchange market, with meals, hotel stays, golf trips and tickets to the Superbowl.

The investigation, commissioned last month shortly after AIB's losses were first discovered, found that Rusnak had planned and implemented the fraud over a long period by falsifying key bank records and documents -- even creating confirmations of currency trades complete with counterfeit logos of other banks.

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