Honolulu Star-Bulletin Business Briefs /2005/06/03/

[ FAST FACTS HAWAII ]

[ HAWAII INC. ]

NEW JOBS

>> Hilton Waikoloa Village has appointed Lisa Acquaviva guest activities and special projects manager. She will be responsible for managing and coordinating all guest activities. She previously served as the Pacific Radio Group sales manager.

>> Communications Pacific has hired Bruce Coppa as senior vice president. He has also invested in the company. He has previously served executive director of the Pacific Resource Partnership.

>> American Savings Bank has hired Kenneth Newman as security vice president. He previously served as Deutsche Bank's global head of infrastructure security assurance.

>> Roberts Hawaii has appointed Ed Schwarzinger information technology director. He will be responsible for managing all technological aspects for each operating division.

>> Bedrock Brand Consultants has hired Dexter Suzuki. He will be responsible for business development, strategic and creative marketing and client management. He previously served as the Honolulu Advertiser's director of new media.

>> Pasha Hawaii Transport Lines has hired Brian L. Black as managing director. He will be responsible for the operations, customer service and sales activities of the company's offices in Honolulu; Kahului, Maui; Nawiliwili, Kauai; and Hilo on the Big Island. He has more than 35 years of experience in logistics, transportation, finance, marketing and port operations.

>> Martin & MacArthur has hired Laurel Partridge-Anderson as distribution center manager. She will be responsible for sales of picture framer's supplies sales and sourcing of koa wood.

>> Hawaiiana Management Co. has appointed My-Le Flores to management executive and operations specialist. She will be responsible for assisting the company's senior vice president with ongoing operations. She has five years experience in the property management field.

>> The Queen's Medical Center has appointed Patricia Avila women's health center medical director. She most recently owned a private preventive and family medicine practice in San Diego.

>> Hilton Waikoloa Village has appointed Wilhelm "Willy" Pirngruber food and beverage director. He will be responsible for directing and organizing the activities of the department. He joined the company in 1993 as executive chef.

>> Kamehameha Schools has hired former journalist Ann Botticelli as community relations and communications vice president. She will be responsible for overseeing the community relations and communications group, which handles public relations, advertising, media, design and production, and government and community relations. She has worked at Honolulu Advertiser, KHON and KITV.

HAWAII
Hawaiian Air's checks to creditors are in mail

It came a day later than expected, but Hawaiian Airlines is finally out of bankruptcy.

The company confirmed yesterday it has emerged from Chapter 11 after financing documentation delayed its exit on Wednesday.

Hawaiian, which filed for Chapter 11 on March 21, 2003, is now owned by RC Aviation LLC, a group of 11 hedge fund investors that is led by Larry Hershfield, chairman of Hawaiian Airlines parent Hawaiian Holdings Inc.

RC Aviation raised $135 million in financing, including $110 million in cash that became available yesterday and a $25 million line of credit that it can draw upon in the future. RC Aviation also said that all creditors were being paid yesterday.

Hawaiian also reported yesterday that it led carriers nationwide in April in on-time performance, baggage handling and having the fewest cancellations. The carrier was third in the nation for oversales of seats.

Bankoh appoints chief of risk

Bank of Hawaii Corp. is promoting Executive Vice President Mary Sellers to vice chairwoman and chief risk officer, effective July 1, to replace Bill Nelson, who is retiring.

Sellers, an 18-year bank employee, most recently served as Nelson's right-hand person in preparing for the new role, Bank of Hawaii said yesterday.

Separately, the company was downgraded to "hold" from "buy" by analyst Michael P. McMahon at Sandler O'Neill & Partners LP, with a 12-month target price of $53 a share.

The company's shares closed down 11 cents yesterday to $48.79, off a 52-week high of $51.10 on Dec. 30.

Analyst downgrades Maui Pine

Maui Land & Pineapple Co. was dropped yesterday to "strong sell" from "sell" by analyst Ivan Feinseth at Matrix USA.

Maui Pine's stock closed down 2 cents yesterday to $41.50, off from a 52-week high of $47.20 on Feb. 25.

NATION
New SEC chief may face questions

The pro-business record of Christopher Cox, President Bush's choice to lead the Securities and Exchange Commission, may set the stage for contentious Senate confirmation hearings, with Democrats primed to question him closely about his regulatory approach.

In his 16-year career as a congressman, the California Republican has backed reductions in the taxation of dividends and capital gains, rules making it harder for investors to sue public companies and legislation banning state taxes on purchases from online retailers.

Jim Manley, a spokesman for Senate Minority Leader Harry Reid, said the 52-year-old Cox can expect tough questions from Senate Democrats who will want to know whether he will be as strict a regulator as the chairman he was named to replace, William Donaldson.