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IN HAWAII
Bankoh adds nonprofit job
Bank of Hawaii Corp. has created a community development officer position to focus on the financial servicing needs of the nonprofit market.Vice President Linda Lewis will serve as an adviser to the bank's nonprofit clients and will help assess their financial needs and coordinate delivery of bank services.
Nonprofit clients will have access to deposit, trust and investment, insurance and employee benefits services. In addition, special banking services have been developed for nonprofit organizations, including free merchant services set-up, a free Visa check card for business and free e-Bankoh for business. Bank of Hawaii also will be holding seminars for nonprofit organizations.
Bank of Hawaii said a 2002 study by the Hawaii Community Foundation found that nonprofit organizations in the state account for approximately $1 billion in total wages and employ approximately 41,000 full- and part-time workers.
S&P gives HIH America 'R' rating
HIH America Insurance Co. of Hawaii has received an "R" financial strength rating from Standard & Poor's Ratings Services.An insurer rated "R" is under regulatory supervision due to its financial condition. On May 30, state Insurance Commissioner Wayne Metcalf declared HIH Hawaii insolvent, resulting in the transfer of all claims to the Hawaii Insurance Guaranty Association.
HIH Hawaii, a workers' compensation insurance company was financially sound at the time of insolvency but became overburdened by high-risk investments made by its sister companies and partners in California. During regulatory supervision, regulators may have the power to favor one class of obligations over others or pay some obligations and not others
Hawaiian honored for philanthropy
Hawaiian Airlines has been honored as an "outstanding corporation" for its contributions to the community, in awards presented by the local chapter of the Association of Fundraising Professionals. Hawaiian was nominated by the Honolulu Symphony, where the airline is a prominent sponsor.The outstanding philanthropist this year was not an individual but "the people of Hawaii."
The president's award went to Masaru "Pundy" Yokouchi, chairman of the board of directors of the Maui Arts & Cultural Center. Others honored were volunteer fund-raiser Randolph "Randy" Moore, Valley Isle Motors as the outstanding small business fund-raiser and Kathryn Nelson as the outstanding professional. There was a memorial award to the late Myron "Pinky" Thompson.
MAINLAND
Raytheon, Motorola settle SEC cases
WASHINGTON >> Defense contractor Raytheon Co. has agreed to a settlement with federal regulators in one of the first cases involving alleged violations of a rule barring companies from revealing information to stock analysts before the general public.The Securities and Exchange Commission, which announced the settlement yesterday, also said it had investigated similar allegations against Motorola Inc. but closed the case without taking enforcement action because a company official had gotten legal advice before starting one-on-one conversations with analysts.
Under the settlement, Raytheon and its chief financial officer, Franklyn Caine, neither admitted to nor denied wrongdoing.
Kellogg to raise prices for snacks, crackers
NEW YORK >> Kellogg Co. plans to pass on higher costs for ingredients to its customers at the start of next year.Prices for Keebler cookies and crackers and for its snacks such as its NutriGrain cereal bars and Rice Krispies treats will be increased by 3 percent to 4 percent effective Dec. 30, a Kellogg spokeswoman said.
The move makes Battle Creek, Mich.-based Kellogg the second major food company to increase prices as the prices of wheat, cocoa, corn, and soyoil rise.
More than a week ago, Kraft Foods Inc., the largest U.S. food company, said it would raise prices on most of its Nabisco cookies and crackers by about 3 percent, also citing the higher commodity costs.
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[ HAWAII INC. ]
NEW JOBS
>> Summit Lending has hired SoYoung Lee as secondary marketing assistant in its secondary marketing division. She assists the secondary marketing team with accounting services as well as loan pricing, creating loan rate sheets and locking in loans with brokers and investors. Lee most recently worked for KPMG LLP as a senior tax specialist.>> Jay Jurick has joined Success Dynamics as a sales representative. He was previously a computer consultant. Success Dynamics provides sales training and employee motivation services.
>> The Orchid at Mauna Lani has added Public Relations Director Jessica Ferracane and Engineering Director Raymond Seaver to its staff. Ferracane was a contributing editor for Gayot's Best of Hawaii guidebook series and an award-winning freelance writer before joining the resort. Seaver previously worked as chief engineer for the Casa del Mar hotel in Santa Monica, Calif.
PROMOTIONS
>> Hospice Hawaii has promoted Brenda Laughhunn from nurse case manager to director of clinical operations. She will help administer patient care and work with health care professionals to promote quality end-of-life choices.
