Former Honolulu broker gets SEC suspension

A former Honolulu securities broker has been suspended by the Securities & Exchange Commission for a year and has agreed to long-term trading restrictions because of charges that he defrauded two retired customers between November 1996 and February 1998.

Braxton G. Grizzard, a former registered representative for California-based broker-dealer Round Hill Securities Inc., is barred from handling discretionary accounts, trading on margin and trading in options and below investment-grade bonds, the SEC said yesterday. Grizzard had invested 99 percent of one customer's funds in a single below investment-grade bond, which lost value.

The commission did not impose a civil penalty. Its order found that Round Hill did not have adequate supervision to prevent violations of securities laws. Three other Round Hill employees on the mainland were sanctioned, according to the SEC.

D.R. Horton shares fall after 3-for-2 stock split

Home builder D.R. Horton Inc., which in February completed its acquisition of Honolulu-based Schuler Homes, split its stock 3-for-2 today.

Horton, which declared the split on March 4, fell 44 cents to $24.41 on the New York Stock Exchange.

The shares are up 12.8 percent this year and 71.5 percent over the past 52 weeks.

UH college of business receives national ranking

The University of Hawaii at Manoa has ranked 20th in the most recent U.S. News and World Report listing of Best Graduate Schools in International Business.

Thunderbird Graduate School in Arizona was No. 1.

Jim Wills, associate dean of the UH Manoa College of Business Administration, said the program has made great strides in recent years.

"It is a natural of us. We are very solid in international business, with an Asia-Pacific focus. We have just started a joint program with the Hanoi Business School so we are out there," he said.

"As well, there is the China- and Japan-focused MBA program that includes language studies" and finishes with an overseas internship, he said. And there are a whole host of institutes and study centers geared toward international business affiliated with the school.

PTC is seeking papers for June event in Canada

Honolulu-based Pacific Telecommunications Conference is looking for papers to be presented at its midyear meeting June 24-27 at the Delta Whistler resort in British Columbia, Canada.

The theme, "Building Strong Partnerships," will focus on North America and how communications providers can build and use partnerships during a period of economic instability and industry changes.

The event will also explore current trends and projections for the communication industries in Canada.

To participate, send presentation proposals for review -- including a brief abstract, title of the presentation, short biography and contact information -- to Lisa Char at lisa@ptc.org by April 30. For more information, call Char at 941-3789, Ext. 112 or visit ptc.org.

Dole may cancel venture with Snow Brand Milk

TOKYO >> Dole Food Co., the biggest producer of fresh fruit and vegetables, has asked scandal-tainted Snow Brand Milk Products Co. to cancel their alliance, Yomiuri newspaper reported, citing unnamed sources.

Snow Brand and Dole set up a 50-50 venture in 1989 to develop and market products such as cheese and ice cream for the Japanese market.

Dole called off the venture because Snow Brand's image has been damaged by a series of scandals, including a July 2000 recall of tainted milk and false labeling by its food subsidiary, the report said.