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Economic council seeks isle members
The Pacific Basin Economic Council, whose board has been considering moving the association's headquarters to Asia, has formed a special chapter to help Hawaii companies improve their networking opportunities in the Asia-Pacific region.The new chapter, which will be called the PBEC International Hawaii Association, will allow PIHA members to pay regular member prices for attendance at all international conferences and regional events. The members will be invited to private PBEC meetings with visiting business and government leaders. They also will qualify for travel and advertising discounts. The annual membership fee is $2,000.
PBEC, the Asia-Pacific region's oldest independent business voice, was founded in 1967 and has been based in Honolulu since 1992. It has 1,000 members in 20 regional economies, representing 10 million workers with gross revenues of $4 trillion.
"If enough support is shown through a solid membership response (in Hawaii), that would weigh heavily in favor of us staying here," PBEC President Dalton Tanonaka said.
For information on membership, call PBEC member services member Rae Gee at 521-9044.
Search for cabinet continues
Gov.-elect Linda Lingle is reviewing four finalists for the new position of a cabinet-level tourism liaison, and will be conducting interviews up until her inauguration on Monday, Lingle said yesterday.A tourism search committee, headed by Marsha Wienert, submitted recommendations for final candidates. Lingle declined to disclose names of finalists. Lingle said she is also reviewing final candidates for the directors of the state agriculture and health departments, and she expects to make announcements next week.
Star banker faces tough questions
BOSTON >> In a newly released e-mail, Credit Suisse First Boston star banker Frank Quattrone posed a rather blunt question to a colleague about a software company on which CSFB had begun offering research."What have we extracted from them on banking side to get this coverage?" Quattrone wrote.
The Nov. 6, 2000 e-mail about Agile Software Corp. was obtained by Massachusetts securities regulators investigating whether CSFB tried to attract investment banking business by issuing rosy research about prospective clients.
Closed markets
U.S. banks and financial markets are closed today in observance of Thanksgiving. Foreign markets are open. Most U.S. markets will reopen tomorrow, but stock markets will close at 7 a.m. HST.
Napster remnants sold to software maker
SAN FRANCISCO >> Software maker Roxio bought the remaining intellectual property assets of the now defunct song-swap company Napster for just over $5 million in cash yesterday.The deal went through immediately following a Delaware bankruptcy court's approval.
Santa Clara-based Roxio, which specializes in CD-burning software, snapped up Napster's patents and brand name for the cash, plus $300,000 in warrants for shares of Roxio common stock. Roxio officials haven't announced what they'll do with the file-sharing company's leftovers, though earlier this month chief executive Chris Gorog said Napster's intellectual property "will expand our role in the digital media landscape and enhance our offerings to consumers."
Roxio is not assuming any of Napster's liabilities. And Napster's remaining hardware -- servers, routers, computers -- remains part of the company's bankruptcy proceeding and will be auctioned off Dec. 11.
Hormel Foods net drops on price hikes
AUSTIN, Minn. >> Hormel Foods Corp. said yesterday that its fourth-quarter earnings fell 1.2 percent, in part because it was paying higher prices for hogs.The maker of Spam and Dinty Moore beef stew earned $68 million, or 49 cents a share, in the quarter ended Oct. 26, down from $68.8 million, or 49 cents a share, a year earlier.
The results met the consensus estimate of analysts surveyed by Thomson First Call.
Sales for the quarter totaled $1.04 billion, down from $1.06 billion in last year's fourth quarter.
In other news ...
PHILADELPHIA >> Cigna HealthCare has agreed to pay doctors and other health care providers to settle a class-action lawsuit alleging the insurance giant underpaid them by the way it processed claims.BACK TO TOP
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[Hawaii Inc.]
NEW JOBS
>> Kris Nakasone has been named contract administrator at Xerox Hawaii. He will be responsible for providing assistance in managed service policies and procedures, as well as supporting Xerox Business Services accounts. Nakasone most recently worked as a professional assistant at Pricewaterhouse Coopers in California.>> Charter Funding of Hawaii has hired E. Rose Lalin as a loan consultant in its Kauai office. She most recently worked for Aloha Mortgage. Lalin will assist future homeowners in obtaining residential mortgage loans and create a client referral base. Charter Funding has six offices inn Hawaii, three on Oahu, one each on Maui and Kauai, and two on the Big Island.
RECOGNITION
>> The Aloha Chapter of the Association of Fund Raising Executives has awarded the certified fund-raising executive designation to Elizabeth Mastrantonio, Janice Nillias and Mathew Sgan. They have met professional standards including length of tenure, education, achievements and commitment to nonprofit organization service. The association is an independent organization whose aim is to set standards in philanthropy by certifying fundraising executives.>> American Express Financial Advisor Joanne Watanabe has won the company's President's Recognition Award. Watanabe was nominated by her peers for this honor, which recognizes advisors who consistently produce comprehensive financial plans exhibiting a thorough analysis of client needs and clear and suitable recommendations for client goals. She has been an advisor at the company's Ala Moana Pacific Center office for nine years.
