Reported by Star-Bulletin staff & wire
State mission heading to Taiwan
The state Department of Business, Economic Development & Tourism is planning a trade mission next month to Taiwan to stimulate investment in the local real estate business.The trip, which is planned for Dec. 13-15 at the Taipei World Trade Center, has attracted more than 60 investors, bankers and immigration consultants in Taiwan. A seminar will include a presentation on "Real Estate Investment Opportunities in Hawaii."
"Since Taiwan investors have shown a great deal of interest in acquiring property in our state, we're trying to form partnerships with our Hawaii firms that are seeking a source of funding," said department Director Ted Liu.
"The state is particularly interested in presenting projects that involve agricultural land; that are a good 'fit' for a Taiwan investor, such as the start of an aquacultural farm; or provide an influx of capital to real estate construction companies."
The deadline for signing up for the trade mission is Nov. 19.
For more information, contact Alex Ho by phone at 587-2760 or by e-mail at alexho@dbedt.hawaii.gov.
United seeks more concessions
United Airlines, trying to restructure after nearly two years in bankruptcy protection, told its unions last night that it wanted to terminate its four pension plans and seek additional wage and benefit concessions, as part of a plan to cut another $2 billion a year in costs.The airline told its unions that it would seek contract concessions of about $700 million a year, on top of the $2.5 billion in annual wage and benefit cuts that unions granted the airline in 2003. The rest of the savings would come by ending the retirement plans, and by making cuts elsewhere in United's operations.
As part of the plan, the chief executive, Glenn F. Tilton, and seven other executives will take 15 percent pay cuts, said the airline, a unit of UAL.
United, the nation's second-biggest airline behind American, filed for bankruptcy protection in December 2002.
Maui Pineapple names finance executive
Dennis Okimoto has joined Maui Pineapple Co. as the new vice president of finance.Maui Pineapple Co. is a subsidiary of Maui Land & Pineapple Co.
Okimoto, who has more than 15 years of executive experience in finance, administrative and operating divisions, most recently was a consultant/certified public accountant in Roseville, Calif. Before that position, he was with the Wailea Golf Resort Inc. and Wailea Resort Co. in various positions, including president and chief operating officer.
