---

BACK TO TOP
|

IN HAWAII

CPB to become CPF next month

CPB Inc. shareholders overwhelmingly approved changing the company's name to Central Pacific Financial Corp. last night at the company's annual shareholders meeting at Hilton Hawaiian Village.

The change, pending the filing of legal documents, is scheduled to take effect May 1. About 70 percent of the shareholders voted in favor of the change.

The parent of Central Pacific Bank opted for the name switch to better reflect the range of services the bank offers, to reflect the bank's name in the name of its parent and to align the company's name with its New York Stock Exchange ticker symbol, CPF.

CPB changed its ticker Dec. 31 when it moved to the NYSE from the Nasdaq National Market.

MacFarms selling to food group

HONOMALINO, Hawaii >> MacFarms of Hawaii, with nearly 4,000 acres of macadamia orchards in South Kona, is being sold to a business described as a "U.S. food group," the company announced yesterday.

The deal is expected to close in mid-June and the name of the buyer will not be disclosed until then, the company said.

The new company will operate as MacFarms LLC.

The company is currently owned by Blue Diamond Growers, a cooperative of California almond growers based in Sacramento.

The intended sale was announced to employees yesterday. The company has 45 regular employees and 140 seasonal hirees. Hiring of the seasonal workers will begin as usual in late June, the announcement said.

MacFarms president Rick Vidgen said he understands that there will be no significant changes in operation or employment at the company.

Factory operations will continue to buy nuts in shells from independent growers. Such purchases will remain important into the future, along with the present marketing and distribution system, the announcement said.

Vidgen said he expects to see an expansion of all business activities under the new ownership. Details will be announced after the deal is closed.

Hawaiian Electric keeps dividend

Hawaiian Electric Industries Inc., which Monday said its first-quarter earnings fell 9.5 percent, has declared a regular quarterly dividend of 62 cents a share. The payout, which represents $248 a year on 100 shares, will be distributed June 10 to shareholders of record at the close of business May 12. HEI's dividend currently yields 6.2 percent.

Meanwhile, analyst David Schanzer of Janny Montgomery Scott LLC lowered his price target today on HEI's stock to $49 from $54 but maintained his "buy" rating.

---

BACK TO TOP
|

[Hawaii Inc.]

NEW JOBS

>> Carlsmith Ball LLP has made Duane R. Miyashiro a partner concentrating his practice in litigation and dispute resolution. Gerald A. Sumida has returned to the law firm as of counsel after serving as the general counsel of the Asian Development Bank in Manila, Philippines. Also joining Carlsmith Ball as of council are J. Thomas Maloney Jr., formerly a partner with D'Amato Maloney & Lonborg; Eric S. T. Young, who will concentrate in estate law; and Ronald T. Michioka, formerly a partner with Puglisi & Michioka in New York City. And Melissa A. Hall has joined the firm as an associate concentrating in the areas of business and labor law.

>> Brigham Young University Hawaii has named S. Kimbrelyn Austin career networking and placement director. She will work to secure jobs for the university's graduates in their native countries. She taught business courses and did consulting work with local businesses and the government in China for four years.

>> Noah Bekofsky has been appointed executive chef of Maui's Kapalua Bay Hotel & Ocean Villas. He will oversee three restaurants, an oceanview lounge, and 24-hour room service. He most recently served as executive chef at the Westin Salishan Lodge and Golf Resort in Oregon.

>> Marriott and Renaissance Resorts Hawaii have named Sally Halm national accounts director. She will oversee markets in the southern and southeastern United States. She has more than 30 years of hospitality industry experience, and was most recently Castle & Cooke Resorts associate director of sales.

>> Marc Dixon has been named U.S. Postal Service communications specialist in Honolulu. He will handle media relations, publications and special event promotions for the state, as well as American Samoa, Guam and the Northern Mariana Islands. He was previously a Kuakini Health System public relations and media relations specialist and Honolulu Star-Bulletin sports clerk and freelance sportswriter.