IN HAWAII
Minority business center seeks nominees
The Minority Business Development Center of Honolulu is making a final call for nominations for its annual Hawaii Minority Enterprise Development Week awards. The deadline for nominations has been extended to July 15.The awards recognize leaders from minority businesses. Categories include minority retail, export, construction, manufacturer, supplier/distributor, technology, service and minority advocate of the year.
In order to qualify for an award, a business must be at least 51 percent minority-owned and nominees must be U.S. citizens and in business for five years. Companies may nominate themselves or be nominated by others.
For more information, call 521-6221.
Winners at Work conference next week
Winners at Work, a non-profit entity that provides training and employment support to individuals with barriers to employment, will hold its quarterly Inter-island videoconference next week.A representative from the National Alliance of the Mentally Ill will discuss the effects of mental illness for individuals and their families. The video exchange takes place July 17 from 12:30 to 1:30 p.m. For further information call 532-2100 in Honolulu and (877)465-6682 for neighbor island locations.
ON THE MAINLAND
Vegas gaming revenue fell 0.6% in May
LAS VEGAS >> Nevada's gambling revenue fell 0.6 percent in May, as casinos on the Las Vegas Strip won less than they did a year earlier from baccarat and other table games, the state said.Nevada casino winnings fell to $839 million from $844.1 million, the state's Gaming Control Board said. Along the Las Vegas Strip, home to the largest casinos such as Mandalay Bay, revenue fell 0.5 percent to $428.7 million, according to a Bloomberg News report.
But, the amount of money wagered on slot machines rose 0.5 percent to $3.3 billion in May in Las Vegas. That was the second straight monthly increase, and a sign that that the casino industry is bouncing back from a decline in tourism that followed Sept. 11, said Frank Streshley, senior gaming analyst for the state.
NYSE may suspend Kmart trading
TROY, Mich. >> Kmart Corp. said yesterday that it has been notified by the New York Stock Exchange that its common stock could be subject to a trading suspension and delisting within the next six months.The retailer, which is in Chapter 11 bankruptcy, said it received the notification because the average share price of its common stock for the past 30 days has been below $1.
The NYSE's criteria for continued listing include a requirement that a company's common stock trade at a minimum average share price of $1 over a 30-day period.
Kmart must return to compliance with the NYSE's criteria for continued listing within six months following receipt of the NYSE's notification. If the company does not meet that deadline, the common stock could be subject to the trading suspension and delisting.
$160 million offer for Dave & Buster's fails
DALLAS >> A $160 million tender offer to take restaurant operator Dave & Buster's Inc. private has expired after falling short of the necessary votes to seal the deal.The Dallas-based company, which has an eatery in Honolulu, said yesterday that the tender offer for $12 per share was accepted by about 46 percent of outstanding shares as of Tuesday's expiration.
The buyout group, led by the investment group Investcorp and including management, made its offer contingent on support of 80 percent of the 13.3 million outstanding shares.
[Hawaii Inc.]
New Jobs
>> The Hawaiian Eye Foundation has named John M. Corboy interim chief of eye surgical services for the Kingdom of Tonga. Corboy will provide medical and surgical eye care to Tonga for four years. He has been going to Tonga for 18 years on annual eye-charity missions. The Hawaiian Eye Foundation is a nonprofit agency that provides eye-care, research and education for Pacific people's.>> City Bank has hired Douglas Weld as chief credit officer and senior vice president of the bank's credit administration department. He comes from Tokai Bank of California, which was merged into United Bank of California, where he worked for 16 years as an executive vice president and chief credit officer.
>> Sandra Gima has been named local sales manager for KHNL-TV News 8 and KFVE-TV K5 The Home Team. She will be responsible for all local sales activities for both stations. She previously worked for 10 years in television sales at KGMB-TV and in pharmaceutical sales. Mike Perkins has been been promoted to the position of director of sports sales at K5. He has been in sales and marketing for 18 years at KHNL-TV and KFVE-TV.