Honolulu Star-Bulletin Business /2005/01/14/

[ FAST FACTS HAWAII ]

Hawaiian Airlines offers discount

Hawaiian Airlines said yesterday it is offering a 10 percent online discount on interisland travel for its HawaiianMiles frequent-flier customers for flights through June 15.

Members can use the discount to book travel for themselves or family and friends. The deadline for bookings is Feb. 28. Enrollment is free and can be done online at HawaiianAirlines.com.

Kona Blue, STI win VC awards

Kona Blue Water Hawaii LLC and STI Industries have been selected to receive the Hawaii Venture Capital Association's annual Venture Capital Deal of the Year award.

The award will be presented Jan. 27 at the Plaza Club downtown.

Bill Spencer, the association's president, said STI was selected to receive the award because the company in May sold its 125-employee STI Government Systems to BAE Systems North America for $27 million, giving it capital to apply to other uses.

Spencer said STI is "a stellar example of a dual-use company," in that it did work for the military and then found civilian applications for the technology it developed.

Will Alameida, STI senior vice president, said yesterday that since the sale, STI and its three subsidiaries -- Science and Technology International, STI Medical Systems and STI research -- have doubled in size from 13 to 26 employees.

Spencer said HVCA selected Kona Blue Water Hawaii, founded in 2001 by Neil Sims and Dale Sarver, because "they had one of the largest venture capital investments last year ($4 million), from a mainland investor who's a part-time Hawaii resident (Tom McCloskey)."

As an innovator in aquaculture and ocean fish farming, Spencer said, the 16-employee Kona Blue Water is exploiting Hawaii's "great strategic advantage" of being in the middle of the Pacific.

Aloha Airlines committee forms

A committee comprising Aloha Airlines' largest unsecured creditors has been formed as the company's 2-week-old bankruptcy reorganization begins to take shape.

Representatives include Daniel Katz of the Air Line Pilots Association, Sharon Levine of the International Association of Machinists and Aerospace Workers, Peggy Gordon of the Association of Flight Attendants, George "Chip" Parker of information technology firm SITA, Nick Ng Pack of advertising and public relations firm Milici Valenti Ng Pack Inc and F. Scott Wilson of engine repair and maintenance company Pratt & Whitney, among others.

Michael Feeney of ALPA's Aloha unit was chosen as chairman.

Coors, Molson jack up dividend

Adolph Coors Co. and Molson Inc. yesterday upped the special dividend they are offering to Molson shareholders by $216 million in an effort to save their troubled merger.

Molson shareholders now will receive a special dividend of $532 million or $4.53 per share.

[ HAWAII INC. ]

PROMOTIONS

» MW Group Ltd. has promoted independent broker Jeff Gerard to general manager of the company's Maui properties. Formerly leasing manager for the properties, he will now be responsible for management and leasing. Gerard has worked with MW for more than three years.

» Atlas Insurance Agency Inc. has promoted Kathleen T. Kano to executive vice president. In addition to her previous responsibilities as senior vice president of commercial lines, client services division, she will provide direction and leadership to all operations except for the construction services division. She has more than 25 years in the insurance industry.

RECOGNITION

>>Hawaii CRB Chapter has awarded Berton Hamamoto the Certified Real Estate Brokerage Manager Pinnacle Award for 2004. Hamamoto holds the Certified Real Estate Brokerage manager designation and was recognized for his efforts and contributions to the Hawaii chapter and promotion of the designation in the industry. He opened a real estate company in 1992 and is the principal broker for Property Profiles Inc. in Aiea.

ON THE BOARD

» The Lawyers' Fund for Client Protection has appointed new officers for 2005: chairwoman, Evelyn J. Black, Esq.; vice chairman, Michael D. Miyahira; secretary, Magali V. Sunderland, Esq.; and treasurer, Curtis Y. Harada, CPA.