Honolulu Star-Bulletin Business /2004/12/01/

[ FAST FACTS HAWAII ]

Holiday shopping sputters after Friday

NEW YORK » The first holiday shopping weekend of the year may have started with a bang, but it ended with a whimper, evidence from two groups that track sales showed yesterday.

The International Council of Shopping Centers, the leading shopping center organization, trimmed its sales forecast for November and released figures that confirmed a strong shopping surge on Friday fizzled over the Thanksgiving weekend.

The council said sales at stores open at least a year will be up from 2.5 percent to 3.0 percent for the month, versus the original forecast of 3 percent to 4 percent. About 0.75 percentage point of the revision was from Wal-Mart Stores Inc., which sharply reduced its November sales projection on Saturday, after the world's largest retailer suffered a disappointing week through Friday.

Meanwhile, ShopperTrak, which tallies sales results from 30,000 outlets, reported yesterday that sales rose a modest 2.9 percent for the three-day weekend, from a year ago. That was down from the robust 10.8 percent increase on Friday.

100 Delta Air pilots will retire

ATLANTA » At least 100 Delta Air Lines Inc. pilots are expected to retire effective today, the start date for a 32.5-percent pay cut agreed upon in a $1 billion concessions package aimed at saving the nation's third largest air carrier from bankruptcy.

The exact number and breakdown of early retirements versus normal retirements would not be known until today, said Karen Miller, spokeswoman for the pilots union. But she said she expected a total of at least 100 pilot retirements.

Those pilots who retire effective today will receive retirement benefits based on their salaries before the pay cuts, Miller said.

Plumbers union officials resign

WASHINGTON » The president and another top officer of the United Association of Plumbers and Pipe Fitters resigned yesterday amid allegations of financial mismanagement at the union, including questionable pension investments in a luxury Florida hotel.

The union's president, Martin Maddaloni, and its secretary-treasurer, Thomas Patchell, whose terms were to expire in 2006, were bought out of their contracts, which included salary, pension credits and leases on their cars in a deal approved by the executive board.

Bill Hite, assistant general president, is expected to be named president by the board, to serve out Maddaloni's term.

Maddaloni was paid a base salary of $264,177 in the 2003 financial year, plus $38,357 in allowances, according to the Labor Department. Patchell received $228,244, plus $45,000 in allowances.

LVMH expects profits to double

LVMH Moet Hennessy Louis Vuitton SA, the world's largest luxury-goods maker, expects to double profitability in the next five years, Chairman Bernard Arnault said.

Arnault, speaking at a luxury goods conference in Hong Kong today, also called on China to make a commitment to fight counterfeiting. The LVMH group has opened 13 Louis Vuitton stores in 10 Chinese cities to capitalize on rising incomes in the world's fastest-growing major economy.

[Hawaii Inc.]

New Jobs

>> M. Dyer & Sons has hired Darby Collado as a moving consultant. He will be responsible for assisting residential, commercial and military customers with their moving needs. He most recently worked at Consolidated Distributors.

» Kapalua Bay Hotel has appointed Kathy Dziedzic sales and marketing director. She will be responsible for generating domestic and local leisure sales and overseeing the property sales team. She is a 24-year veteran in the hospitality industry.

Recognition

» The Institute of Management Accountants and Robert Half International Inc. has awarded Eric Yeaman the regional winner of the 2004 Financial Executive of Year Award. He is a Hawaiian Electric Industries vice president, treasurer and chief financial officer. Amond other things, he is responsible for managing financial strategy and reporting, investor relations and tax strategy.

» The city has honored two workers as its top employees. Lyann Okada has been honored as 2004 Employee of the Year. She is a Civil Engineer V who is credited with envisioning and creating a more accessible and user-friendly Geographical Information System application for the water supply board. Honolulu Police Capt. Paul S. Epstein has been honored as the 2004 Manager of the Year. He is the HPD civil defense coordinator.