Honolulu Star-Bulletin Business /2004/12/17/

[ FAST FACTS HAWAII ]

Kamehameha Schools sticks with trust firm

Kamehameha Schools has reappointed the Bank of New York Trust Co. as the custodian and securities lending agent for its $5.5 billion endowment fund.

The bank, which has provided custodial services to Kamehameha Schools since 1999, will also assist management with risk analysis and related services.

Kamehameha Schools is the largest private landowner in the state, and income generated from its properties and other investments funds the schools educational programs.

TS Restaurants executive retires

WAILUKU » TS Restaurants, which operates seven restaurants in the state, has announced the retirement of David Allaire, senior vice president of Hawaii operations.

Allaire, who is retiring effective Dec. 31, has been with the restaurant chain since its inception 28 years ago and was the manager who opened Kimo;s Restaurant in Lahaina in 1977.

TS, which also operates Duke's in Waikiki, has been ranked as the 82nd highest-grossing company in Hawaii for 2003.

ATA takes Southwest Airlines offer

INDIANAPOLIS » ATA Airlines said yesterday it has accepted a $117 million offer from Southwest Airlines that would forge close business ties between two of the nation's largest discount carriers.

The deal would increase Southwest's already dominant presence at Chicago's Midway International Airport and provide cash-strapped ATA the capital it needs to recreate itself as it emerges from Chapter 11 bankruptcy protection.

A federal bankruptcy judge in Indianapolis was expected to approve the bid on Tuesday, officials with both airlines said.

Southwest's bid, which beat a rival offer from AirTran Airways, includes the transfer of six gates of ATA's 14 gates at Chicago Midway Airport for $40 million and $47 million in financing.

Southwest would also invest $30 million in notes it could exchange later for about 27 percent of ATA stock once ATA emerges from bankruptcy.

Software consolidation continues

SAN FRANCISCO » The Symantec Corp., a leader in security software and one of Silicon Valley's oldest companies, announced early yesterday that it would acquire Veritas Software, a maker of data storage programs, to create the world's fourth-largest software company. The all-stock transaction was valued at $13.5 billion.

The deal, expected to close in the second quarter of next year, will give the combined company revenue of $5 billion next year. Only Microsoft, Oracle and SAP, a German-based competitor, would have greater software sales.

Capping a week that began with Oracle's acquisition of PeopleSoft, a maker of business software, Symantec's acquisition of Veritas is part of a larger consolidation trend in corporate software, driven by the need to cut costs and provide a bundle of products.

[Hawaii Inc.]

NEW JOBS

» Roberts Hawaii has appointed Donald Asam as general manager of Alii Kai Catamaran and Regency Culinary Services. He will be responsible for the operations, maintenance and entertainment coordination of the Alii Kai Catamaran and overseeing the Regency Culinary Services executive chef and staff. He most recently served as the Hawaii Prince Hotel food and beverage director.

ON THE BOARD

» The Visitor Aloha Society of Hawaii has elected Terence C. Wade chairman. He is a clinical psychologist who has more than 25 years of experience in the treatment of trauma.

» The Manoa Valley Theatre has appointed its new officers for 2004-2005. Sharon Billingsley is president. She is a KHON local sales representative. Janis Akuna is vice president. She is a Morgan Stanley financial advisor. Neil W. Field is secretary. He is a public-relations counselor. John F. Maughan is treasurer. He is a community volunteer.

» Elaine Yamashita, Maui Community College associate professor and human services program coordinator, has been elected to the National Association for the Education of Young Children governing board. The group is the nation's largest and most influential organization of early childhood educators.