Honolulu Star-Bulletin Business /2005/03/16/

[ FAST FACTS HAWAII ]

Software blocks spam before it gets sent

Titan Key Software, a Honolulu startup founded by local techie Peter Kay, said it has received a patent for an e-mail spam blocker that rejects unwanted messages before someone can send them.

Titan Key has developed blacklisting software that can perform a background check on a sender before they can send their spam. That keeps the messages from tying up other people's computer servers. Regular antispam technology receives a message first, then filters it.

Titan Key said the software has been in production for more than a year in places including India and Nicaragua.

Shop for Hawaiian fares online

Hawaiian Airlines has improved its Web site to include a new booking feature that finds its lowest airfares for customers.

Called Hawaiian FareShopper, the booking system displays an array of prices and availability over seven days, allowing customers to shop for the best fares.

The system accounts for the points accrued by members of HawaiianMiles, the carrier's frequent-flyer program, which people can join online at HawaiianAirlines.com.

Bank sells $64.3M in shares

Central Pacific Financial Corp. said yesterday it raised $64.3 million from a public stock offering of just more than 2 million shares.

The bank holding company, which last month merged City Bank into Central Pacific Bank, has said the proceeds will be used for general corporate purposes and to pursue additional loan production.

Central Pacific priced the offering at $34 a share.

S&P rates local hospital bonds

A new series of revenue bonds issued by the state for local hospital operator Hawaii Pacific Health has been rated BBB+ by Standard & Poor's Ratings Services.

The credit analysis company said the rating of the $128.5 million bonds reflects Hawaii Pacific Health's position as the largest Hawaii-based health system and improved operating results in fiscal 2004 after several years of losses.

Hawaii Pacific Health oversees Kapiolani Medical Center for Women & Children, Kapiolani Medical Center at Pali Momi and Straub Clinic & Hospital, all on Oahu, and Wilcox Memorial Hospital on Kauai.

One in three companies to hire

One-third of Honolulu companies said they plan to hire more employees between April and June, while only 3 percent will cut back, according to a Manpower Employment Outlook Survey released yesterday.

Better Business Bureau bestows ethics awards

The Better Business Bureau of Hawaii yesterday named three winners of its 2005 Torch Awards for Business Ethics.

Financial services company Finance Factors Ltd. won the award in the large business category; telecommunications firm Pacific LightNet Communications in the small business category; and Todd Oshiro of Always Flowers in the individual category.

The three will receive their awards at a ceremony next Wednesday at Hilton Hawaiian Village following a luncheon celebration of the bureau's 60th anniversary in Hawaii.

Tickets to the luncheon are $60 for bureau members and $75 nonmembers. For more information, call 536-6956, ext. 320, or visit the bureau's Web site at www.hawaii.bbb.org .

Panel recommends more funding for IRS

WASHINGTON » An independent board recommended yesterday a 14 percent boost to the Internal Revenue Service budget, concerned that less money would mean erosion in customer service or tax law enforcement.

However, IRS Commissioner Mark Everson said he's satisfied with the budget requested by the White House, which would deliver a boost of 4 percent if accepted by lawmakers.

"I'm a strong supporter of the president's request. I'd like to get every nickel that we have requested. I'm not asking for a penny more, though," Everson said. "That's actually good practice for an agency head."

The IRS Oversight Board, a panel of private-sector advisers, said the tax agency's budget should increase to $11.6 billion in 2006 to pay for more tax law enforcement and computer modernization.

[Hawaii Inc.]

Promotions

» Morton's Steakhouse has promoted Bill Nickerson to general manager/maitre'd. He will be responsible for day-to-day operations, sales and marketing, development and training and financial accountability. He has more than 25 years of restaurant management experience. The restaurant also has promoted David Martin to regional manager. He will be responsible for overseeing the company's restaurant management teams in Honolulu, Hong Kong, Singapore, Vancouver, Portland and Seattle. He joined the company in 1999.

» Hyatt Regency Maui Resort & Spa has appointed Brent Lausterer its Midwest region group sales manager. He will be responsible for creating solicitation strategies and securing group business in the meetings and incentive market segments from the as well as developing and leading sales team projects. He previously served as the group sales manager for the Hyatt Regency Waikiki Resort & Spa.

» Title Guaranty has promoted Richard Phan to marketing manager. He most recently served the company's marketing supervisor.

» Avalon Development Co. has promoted Collin Miyamoto to real estate services manager. He will be responsible for supervising financial and market feasibility analyses activities, client development and client relations. He previously served as a real estate analyst for the company.