Business Briefs

Reported by Star-Bulletin staff & wire

[Taking Notice]


New Jobs

>> Robert Bruhl has joined Schuler Homes as director of land acquisitions and forward planning. He will oversee the firm's long-range strategic planning and efforts to acquire land for community development. He was previously vice president of private equity fund The Cypress Group.

>> Hawaii Health Care Systems Corp. has appointed Stephen G. Chong to corporate quality and regional compliance officer and Sally Ishikawa to Oahu nursing director. Chong was previously the state Department of Health State Health Planning and Development Agency comprehensive health planning coordinator. Ishikawa will supervise nursing services at Leahi and Maluhia hospitals. She was previously coordinator for Oahu Care Facility.


>> Bank of Hawaii has promoted Phillip Rellinger to president of its subsidiary, Triad Insurance Agency Inc. He will oversee the strategic direction of the company and overall business development. Triad has also promoted Charleen Ganeku and Sherry Ishikawa to vice presidents and underwriting team managers. They will each supervise one of the company's two underwriting teams.

>> Communications Pacific has promoted Laurel Johnston to account supervisor and Scott Kawamura to director of design services in the company's advertising division. Johnston most recently served as senior legislative researcher in the state Senate Majority Office. Kawamura was previously owner of his own graphic design firm, Clutch Design.

On the Board

>> The Aloha Society of Association Executives has elected Cynthia Hayakawa president for 2004. Other new officers are Vice President and President-Elect Kathy Castillo, Secretary Barbara Kono, Treasurer Edward Thompson and Immediate Past President Mark Beede. Directors are Alison Powers, Roberta Cullen, Tim Lyons, Gail Glushenko and Carl Takamura.

>> The Hawaii State Bar Association has elected Dale W. Lee, a partner at Kobayashi Sugita & Goda, to 2004 president. Other officers are: Vice President and President Elect Richard Turbin, Treasurer Jodi L. Kimura and Secretary James C. McWhinnie. Directors whose terms expire Dec. 31 are: Steven J. T. Chow, Geraldine Hasegawa, Ronette M. Kawakami, Corianne W. Lau, Howard K. K. Luke, Linda N. Monden and Wayne D. Parsons. Directors through Dec. 31, 2005, are: Alfred B. Castillo Jr., Thomas E. Crowley, P. Gregory Frey, John P. Gillmor, Carol K. Muranaka, Trudy Burns Stone, Elizabeth A. Strance and Suzanne T. Terada.


Barking up the wrong tree

Much has been said about the proposal by Corporate Recovery Group LLC and Boeing Capital Corp. to reorganize Hawaiian Airlines except how insulting it is. Their notion that stock in the parent company, Hawaiian Holdings, has no value borders on ludicrous.

As an institutional broker, I have been closely involved with Hawaiian Airlines for several years. I have actively encouraged my customers to purchase the stock based on my belief that the market value did not accurately reflect the true intrinsic value of the shares. Now Boeing and the Wyoming investors have concocted a self-serving scheme to cancel the stock and leave thousands of people holding the bag. The victims will include many Hawaiian Airlines employees who collectively own more than $5 million dollars of their company's stock, and whose dedicated hard work has led to one of the most profitable years in Hawaiian's history.

Boeing's refusal to renegotiate leases on its airplanes shoved Hawaiian into bankruptcy, now it claims to have the magic formula to lead the company to the Promised Land. Boeing might be the big dog, but it should not be allowed to sit anywhere it wants.

Norm Caris
Anahola, Kauai


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