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Servco divests golf equipment biz

The Hawaii distributorship for Bridgestone Sports Co., a Japan-based supplier of golf merchandise, will change hands Dec. 1, but the same man who has headed the local business will continue to represent the brand. Del-Marc Fujita handled Bridgestone for Servco Pacific Inc.'s Rex Tire Group subsidiary.

Fujita set up his own company, Del-Marc Fujita Enterprises, earlier this month. Servco took on the distributorship in 1988 and Fujita has run the sports division since 1991. Mark Fukunaga, Servco chairman and chief executive officer, said Bridgestone approached Servco earlier this year to suggest the transfer and Servco agreed Oct. 1.

Fukunaga said the brand, which represents less than 1 percent of Toyota-dealer Servco's consolidated revenues, will be better served by an independent small-business entrepreneur.

Stock option seminar offered

Star-Bulletin Dwight Melton, a participant during the past two years in the Honolulu Star-Bulletin's local stock experts' survey of best investment ideas, will conduct a stock option picks seminar Oct. 25 from 9 a.m. to noon at 1311 Kapiolani Blvd. in the second-floor board room.

Melton is president of the Patience & Discipline Investment Club and a director of the National Association of Investors Corp. Aloha Hawaii Chapter.

The event, sponsored by African American Commercial Council Hawaii, costs $25 for members and $35 for nonmembers. Reservations are required as soon as possible by calling 597-1341.

Checks are payable to AACCH, 1311 Kapiolani Blvd., Suite 203, Honolulu, HI 96814.

Cyanotech VP leaves company

Cyanotech Corp., attempting to return to profitability after several years of losses, said yesterday that one of its executives has left the company.

The Kona company, which makes natural products from microalgae, said Shane Rohan, vice president of production, has departed. No reason was given.

Rohan joined Cyanotech in November 1992 and served as culture biologist and production manager before assuming the position of production vice president.

Gerald Cysewski, chairman, president and chief executive of Cyanotech, said he will now oversee the team of executives and managers who formerly reported to Rohan.

Newspaper ad revenue lifts Gannett's net 5%

McLEAN, Va. >> Gannett Co., the biggest U.S. newspaper publisher and the owner of the Honolulu Advertiser, said third- quarter earnings rose 5 percent as higher ad sales at USA Today and other papers offset a decline in television-commercial income.

Net income rose to $279 million, or $1.03 a share, from $265.6 million, or 99 cents, a year ago. Revenue gained 3.9 percent to $1.63 billion from $1.57 billion.

Gannett said ad spending tied to travel, telecommunications and retail helped boost USA Today's ad sales 5 percent. Advertising by department stores and local businesses didn't match that pace and classified ads may not continue gains they made in September, Chief Executive Douglas McCorkindale said.

Freedom media group to stay family owned

LOS ANGELES >> Freedom Communications Inc., one of the nation's last family-owned media companies, has agreed to form a partnership with two private equity firms, enabling family members to retain control, the company announced yesterday.

The agreement satisfies competing concerns of family members who had sought to sell their shares in the privately held company with those who wanted to keep family control. Freedom operates The Orange County Register and 27 other daily news- papers, 37 weeklies and eight television stations. Other media companies had offered bids for Freedom, including Gannett.

Instead, Freedom's board decided to enter a partnership with Blackstone Communications Partners and Providence Equity Partners. The investment firms will buy out disgruntled shareholders but agreed to allow remaining family members to operate the company. Financial terms were not disclosed.

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[Hawaii Inc.]

New jobs

>> CB Richard Ellis Hawaii Inc. has named Kenneth Sandefur client advisory services vice president. He will oversee several portfolios, manage clients' real estate transactions and handle consulting and brokerage business. Prior to joining the company, he was vice president of AT&T Hawaii and managed more than 600 employees and a revenue budget exceeding $200 million.

>> The Plaza at Punchbowl, a retirement community complex slated to open in January, has hired Eleni Davis as marketing director. She comes to the company with more than 15 years of advertising and marketing experience. She previously served Hawaii Pacific University as advertising coordinator for the past five years.

>> Richard M. "Rik" Papa has been hired as the project engineer for Stanford Carr Development's Peninsula at Hawaii Kai. He most recently worked at Hawaiian Dredging Construction Co. on a Starwood Vacation Ownership time-share construction project. Before that, he worked for J.J. DeLuca Co., a private construction management company in Pennsylvania.

Promotions

>> Haidee O. Kanakanui has been promoted to vice president at D. Buyers Enterprises. She joined the company in 2001 after being transferred from C. Brewer and Co. She served there in the executive and accounting divisions and as assistant vice president and treasurer to D. Buyers Enterprises.