Honolulu Star-Bulletin Business /2005/02/23/

[ FAST FACTS HAWAII ]

90 Ko Olina Kai units put on the market

The home developer at Ko Olina Kai Golf Estates yesterday put 78 condominium villas and 12 single-family homes up for sale, following the sellout of the project's 150-unit first phase in 10 days.

The second phase of homes will be ready to be lived in by the first quarter of next year, said the developer, Centex Destination Properties.

When finished, Ko Olina Kai will have 60 single-family homes and 264 condo villas on 34 acres.

Home Depot profit increases 9.5%

Home Depot Inc. said fourth-quarter earnings rose 9.5 percent, the smallest gain in almost two years, as appliance sales increased. Home Depot shares fell 4.1 percent, the biggest drop in 17 months.

Net income at the world's largest home-improvement retailer climbed to $1.04 billion, or 47 cents a share, from $951 million, or 42 cents, a year earlier. Sales gained 11 percent to $16.8 billion, Atlanta-based Home Depot said in a statement yesterday.

Home Depot Chief Executive Bob Nardelli has spent $1 billion to remodel older stores and is adding higher-priced items such as Maytag appliances. Nardelli is preparing for slowing U.S. sales by adding stores in Canada and Mexico.

Anti-piracy rules 'crossed the line'

WASHINGTON » A U.S. appeals panel yesterday challenged new federal rules requiring certain video devices to have technology to prevent copying digital television programs and distributing them over the Internet.

U.S. Circuit Judge Harry T. Edwards told the Federal Communications Commission it "crossed the line" requiring the new anti-piracy technology in next-generation television devices. But another appeals judge on the panel questioned whether consumers can challenge the FCC's rules in the courtroom.

The technology, known as the broadcast flag, will be required after July 1 for televisions equipped to receive new digital signals, many personal computers and VCR-type recording devices. It would permit entertainment companies to designate, or flag, programs to prevent viewers from copying shows or distributing them over the Internet.

Suit targets S.F. airport security

SAN FRANCISCO » A former worker at San Francisco International Airport has sued the company responsible for security, alleging breaches that included allowing unchecked passengers to board aircraft, failing to detect weapons and alerting checkpoint managers about the presence of supposedly "covert" inspectors.

Gerry Berry, president of Covenant Aviation Security, the Illinois-based company that provides security at SFO, called the allegations "unsubstantiated" and the product of a "disgruntled employee."

In the suit filed Friday in San Francisco Superior Court, Gene Bencomo alleged that Covenant ignored a series of security breaches at the airport beginning in December 2003. The lawsuit seeks unspecified damages.

Among the most serious allegations by Bencomo was that Covenant developed an elaborate system to notify security checkpoint managers when inspectors, who are dressed like other passengers and known as "decoys," were in the airport.

[ HAWAII INC. ]

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NEW JOBS

» Hawaii Forest & Trail has hired Carol Fields as operations manager. She will be responsible for overseeing day-to-day operations for the company, including all aspects of tour operations and customer service for the company's eight nature adventure tours. She previously served as Polynesian Adventure Tours' Hawaii Island manager.

» First Insurance Company of Hawaii has hired Robert Schuessler as controller. He has over 20 years of financial and operational experience in the insurance industry. He previously served as CNA Insurance's (Illinois) risk management director of operations.

>> Sub-Zero/Wolf, a luxury appliance company, has hired William "Buddy" Moore as a territory manager. He will be responsible for overseeing retail sales on all islands. He previously served as operations director for one of Hawaii's largest publishing companies.

ON THE BOARD

» The Institute of Real Estate Management's Hawaii Chapter has installed its 2005 board of directors and officers: Jody Nako has been appointed president, Michelle Wong has been appointed president-elect, Naomi Iha Suto has been appointed treasurer, Corinne Sakazaki has been appointed secretary, Daisy Yamada has been appointed immediate past president, Phyllis Okada Kacher and Ralph Shumway have been appointed vice presidents of ARM, JoAnn Mau and Ralph Foulger have been appointed vice presidents of education, Clarice Johnson and Michelle Wong have been appointed presidents of legislation, Paula Orr and Anna Palla have been appointed vice presidents of membership, Corinne Sakazaki and Bobbie Lau have been appointed vice presidents of programs, and Marlene DeCosta has been appointed vice president of public relations.