HAWAII

Maui family expands McDonald's empire

The Rosario family of Maui, which already owned five McDonald's restaurants, this week added another three. The new franchises in Lahaina, Whaler's Village and Kahana, are owned and operated by Linda Rosario and her son Grelyn.

Linda Rosario started work at McDonald's of Waiakamilo on Oahu in 1970 after she arrived at age 18 from the Philippines. In 1977 she became manager of the Waipahu outlet. Later she had corporate jobs at McDonald's of Hawaii and in 1990 she got her first franchise, McDonald's of Pukalani on Maui. Grelyn Rosario worked at McDonald's Moanalua in 1988 and went on to get an master's in business administration at Chaminade University.

In addition to Pukalani and the new three, the Rosarios own Maui McDonald's restaurants in the Kaahumanu Shopping Center, on Dairy Road and at Wal-Mart Kahului.

Professor helps secure engineers' convention

The American Society of Engineering Educators has booked the Hawaii Convention Center for its 2007 annual meeting, promising an estimated 3,200 attendees and a potential $9.2 million in visitor spending to the islands.

The decision was helped by a pledge by the University of Hawaii College of Engineering to host the opening reception, help with finding sponsors and exhibitors and provide logistical support, said the Hawaii Visitors & Convention Bureau.

Magdy Iskander, a UH electrical engineering professor, is a participant in the HVCB's Kuhina program, which encourages business and community leaders to push Hawaii conventions. The program has now helped HVCB book six technology-related meetings and conventions between 2003 and 2007.

MAINLAND

Martha Stewart resigns from NYSE

NEW YORK >> Martha Stewart, under investigation by the Justice Department for her sale of ImClone Systems Inc. stock, resigned today from the board of the New York Stock Exchange.

The announcement came a day after an assistant to Stewart's stockbroker pleaded guilty to a misdemeanor charge of receiving money and other valuables for keeping quiet about Stewart's sale of ImClone shares last December.

Stewart sent a letter of resignation to NYSE chairman and CEO Dick Grasso before the exchange's board meeting today.

"The rigors of my own very busy and demanding corporate life require my full attention at the present time," she said in the letter.

Shareholder urges Dole to reject buyout

WASHINGTON >> A large investor at Dole Food Co. urged a special board committee to reject Chairman David Murdock's offer to acquire the company's remaining shares outstanding.

Atlantic Investment Management Inc., a New York-based money manager that owns 6 percent of Dole's common shares, believes Murdock's offer of $29.50 a share in cash is "substantially below the fair value of the issuer," according to a Schedule 13D filed with the Securities and Exchange Commission.

Dole created a special committee last month to review the Murdock offer.

House committee OKs airline loan bill

WASHINGTON >> A key House panel approved a bill yesterday to help struggling airlines, but the effort may be too late to become law this year as Congress nears the end of its session and the Senate hasn't yet acted on a similar bill.

The House Transportation Committee's aviation panel endorsed a package of loan guarantees, terrorism insurance and new procedures to lighten some security costs that airlines say are devastating the industry.