Honolulu Star-Bulletin Business /2005/04/29/

[ FAST FACTS HAWAII ]

Shares of Barnwell drop on profit-taking

Barnwell Industries Inc.'s stock dropped 11.7 percent yesterday as profit-takers moved in after a dizzying run that sent the shares up more than $12 over six consecutive trading sessions.

The Honolulu-based company, which has oil and gas operations in Alberta, Canada, and land holdings on the Big Island, fell $8.20 to close at $61.65. Despite the decline, the stock's year-to-date gain is still 66.3 percent.

Alexander Kinzler, president and chief operating officer of Barnwell, attributed the stock's decline to investors cashing in on the stock's recent rise.

"It had a significant run-up over the past number of days and I anticipated there would be some profit-taking," Kinzler said. "It's just typical of the volatile marketplace we're in."

NCL parent considers spinoff

Star Cruises Ltd., the world's third- largest cruise-line operator, said it's considering seeking a separate listing in the United States for its wholly owned NCL Corp. cruise-ship unit.

The company said in a statement that it hasn't decided whether to go ahead with the sale, and gave no further details.

Star Cruises shares surged in Hong Kong and Singapore on April 27 on speculation it may list NCL as early as the end of this year.

Daiei offers early retirement deal

Daiei Inc., a Japanese retailer undergoing a government-led bailout, said it would next month accept about 200 applications for early retirement, as part of a plan to reorganize its business.

Daiei will accept applications from employees aged between 45 and 58, the Kobe-based company said today in a statement released through the Tokyo Stock Exchange. The decision was made at a board meeting today, the company said.

Daiei applied in October for government-led rehabilitation of its more than $9 billion in debt. The Industrial Revitalization Corporation of Japan, the government's bailout agency, has said Daiei will close 53 of a total 245 stores, without giving a deadline.

[Hawaii Inc.]

NEW JOBS

>> PacificBasin Communications has appointed Faye Varias assistant editor of Hawaii Home & Remodeling Magazine. She previously worked for Hawaii Woman magazine and Guam Business.

» Octane Advertising has hired Rie T.M. Pang as an account executive. She will be responsible for the coordination and execution of all marketing, advertising, and promotional activities. She previously worked for KHNL and KITV.

» Kahala Nui has hired Huilan Kamita as business office director. She will be responsible for directing fund-management and accounting efforts and will oversee the nursing home's annual funding. She has over 10 years experience in accounting and fund management.

» First Insurance Company of Hawaii has hired Andrew Saranchock as product development manager. He will be responsible for product training, creating new products and markets and providing technical support to the company. He previously served as a Fairmont Specialty Group executive underwriter.

» The Children's Alliance of Hawaii Inc. has hired Alfred Joseph Herrera as president. He will be responsible for all aspects of nonprofit programs, financial activities and community development. He previously served as the Hawaii Nature Center's director of development and communications.