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Aloha Tower board picks development plan
A plan for apartments, a boutique hotel, office space and a transit terminal got the nod today from the state Aloha Tower Development Corp.The proposal by Texas developer Ken Hughes to redevelop land next to Aloha Tower Marketplace was the only one discussed at a meeting this morning to decide on plans for piers 5 and 6. A second proposal from Baltimore based Sun-Land Group was not considered because it did not meet the corporation's requirements, officials said.
Hughes, described by consultant Bill Whitney as a hands-on developer, has built several urban projects involving transit stations, including Mockingbird Station in Dallas. His expertise and his financial backing are very strong, Whitney said. His specific proposal is vague so far, because a lot of infrastructure details still need to be worked out.
The proposal calls for loft-style urban residences, a 250-room hotel, 200,000 square feet of office space and some form of transportation connecting the waterfront with downtown Honolulu.
Next, ATDC staff are authorized to begin negotiations to iron out financial details before contracts are signed.
Machinists OK work concessions
Hawaiian Airlines' machinists union, which represents mechanics and clerical workers, "overwhelmingly" approved $3.8 million in concessions last night that the company had requested as part of a plan to reduce overall costs by $30 million, the union said.The International Association of Machinists District Lodge 141, which consists of about 1,400 customer service, reservation, ramp and office employees, voted in favor of $2.6 million in concessions.
IAM District Lodge 141M, which represents more than 300 line-service workers and cleaners, approved $1.2 million in concessions.
None of the concessions for either group involved wage cuts but came in such areas as holidays, sick leave and work rules. The union did not release a breakdown of the vote.
One of the other two major unions, the Air Line Pilots Association, has reached an agreement in principle but still needs to work out the contract language with the company. Representatives of the final major union, the Association of Flight Attendants, did not return telephone calls.
Hawaiian, which had set a deadline for today for unions to agree to concession requests, has been seeking $15 million in labor cost reductions from its employees and $15 million in leasing concessions, primarily from Boeing Co.
CB Bancshares sets dividend
City Bank parent CB Bancshares Inc. has declared a first-quarter cash dividend of 11 cents a share that will be payable March 31 to shareholders of record on March 17.
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