HAWAIIAN EDVENTURES
WINS TOP HVCB AWARD
|
BACK TO TOP |
Kmart CEO Adamson to get $1 million a year and bonus
Former Hawaii resident James B. Adamson, the Kmart board chairman who became chief executive last month, received a $2.5 million signing bonus and will be paid at least $1 million a year to restructure the distressed retailer, according to documents filed with a U.S. bankruptcy court in Chicago late Wednesday.The documents, made public yesterday, also show that Adamson, a Damien High graduate, will receive another $4 million if Kmart emerges from bankruptcy by July 31 of next year. The company filed for Chapter 11 on Jan. 22, and has since announced plans to close more than 280 stores and lay off 22,000 employees.
WorldPoint countersues investor Teramachi
The Japanese investor who has sued to place WorldPoint Interactive Inc. into bankruptcy acted in bad faith and the suit should be dismissed, according to a countersuit filed by the company in U.S. Bankruptcy Court.Hiroshi Teramachi and two of his family members filed last month to force WorldPoint into involuntary Chapter 7 bankruptcy, claiming they are owed $4.9 million by the now-defunct high-tech firm. WorldPoint disputes the claim, in part because it was sued by one family, as opposed to three separate creditors, the company said in the Tuesday filing.
Tensions between Teramachi and WorldPoint started a couple years ago, and escalated when Teramachi evicted the company's leader Massimo Fuchs from a million-dollar residence in Aina Haina last year.
Low-income housing bond spurs rally in California
Renters across California rallied yesterday in support of a bill to issue $2.1 billion in bonds that would pay for low-income housing and demanding more protection for 4.9 million rental households.The California state Assembly voted to put the bond on the Nov. 5 ballot.
Rallies in the state's largest cities demanded 60-day eviction notices and other protections for 14 million Californians who rent. The rallies followed a February outcry over 30-day eviction notices mailed to 570 renter households in Sacramento and Santa Rosa.
Japanese billionaire real estate investor Gensiro Kawamoto later relented during a storm of criticism and offered more time.
At about the same time, Kawamoto also placed up for sale 80 of his 160 residential properties in Hawaii.
Labor to create guidelines to reduce job injuries
WASHINGTON >> As part of a new Labor Department policy, businesses will be encouraged but not forced to make workplace changes aimed at reducing repetitive-stress injuries.Labor unions had pushed to restore tougher Clinton-era regulations that Congress, then controlled by Republicans, repealed last year after a bitter legislative battle.
Today's announcement was a win for businesses that have lobbied hard against regulations, arguing there is not enough scientific evidence to justify government-imposed rules.
BACK TO TOP |
Taking Notice
NEW JOBS
>> The Grand Wailea Resort Hotel and Spa has named Darren K. Green director of sales and marketing. He will be responsible for oversight of all advertising, marketing and sales functions at the 780-room resort. Green most recently served as sales and marketing director at The Orchid at Mauna Lani.>> Verizon Wireless has named Kendra Sawyer business sales manager for its Honolulu market. She transferred to the Hawaii region with 16 years of sales experience, most recently holding the business sales manager position for Verizon Wireless in San Antonio.
RECOGNITION
>> Sherwin Sagucio has been named Employee of the Year at Keoki's Paradise Restaurant. He was selected over 11 other Employee of the Month winners from 2001 for demonstrating initiative, hospitality, commitment and the spirit of aloha. Sagucio will receive interisland airfare for two, a plaque and dining certificates for Keoki's Paradise and its sister restaurants on Maui and Oahu.>> The Hilton Waikoloa Village recently awarded its employees of the year awards to the following individuals: Mary A. Rubin, 2001 Front House Employee of the Year; Edwin Cayetano, Heart of House Employee of the Year and Overall Employee of the Year; and Terra R. Jenkins, Manager of the Year.