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UH center gets grant to develop businesses

The Pacific Business Center Program at University of Hawaii at Manoa was awarded $250,000 to help develop and manage economic development programs in American Samoa, the Commonwealth of the Northern Mariana Islands, the Federated States of Micronesia, Guam, the Republics of Palau and the Marshall Islands and the U.S. Virgin Islands.

The award from the U.S. Department of the Interior's Office of Insular Affairs will help the federal agency with research, outreach and business development activities over the next year targeted at private sector partners for U.S. insular area-based economic development projects.

"By promoting an increase in the level of private sector-led economic development in the U.S. Insular Areas, and thereby increasing the diversity and sustainability of the industries in each area, the University of Hawaii hopes to create win-win situations for both the insular area island economies and for their U.S.-based private sector partners," said UH Interim President David McClain in a news release.

For more information about PBCP, visit www.hawaii.edu/pbcp

7-Eleven board rejects buyout offer

DALLAS » Directors of 7-Eleven Inc., the world's largest convenience-store chain, have recommended that shareholders reject a buyout offer from majority owner Seven-Eleven Japan Co., saying the offer isn't good enough.

The company said yesterday that a special committee of its board found the bid of $32.50 per share is "not in the best interests" of shareholders.

7-Eleven added that its advisers are discussing an increased offer with Seven-Eleven Japan Co. but couldn't promise that it would get a better proposal.

Seven-Eleven Japan Co. owns about 73 percent of the U.S. company's stock. It announced Sept. 1 it was making a $1.2 billion tender offer for the remaining shares.

Dallas-based 7-Eleven Inc. operates or franchises about 5,800 stores in the United States and Canada and licenses more than 22,000 worldwide.

California home sales expected to fall

LOS ANGELES » Record housing prices and a likely rise in mortgage interest rates will make it harder to afford a home in California next year, causing a slight decline in home sales and narrowing the rate of appreciation for many homeowners, real estate experts said.

The median price of a home in California will rise 10 percent to $575,500 next year, while sales will fall about 2 percent over this year, according to the California Association of Realtors' 2006 Housing Market Forecast.

Homes in the more pricey real estate markets in the state could see appreciation squeezed even further, the group said.

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[Hawaii Inc.]

NEW JOBS

» State Farm Insurance has appointed Colin Alos a new agent. He previously served as a district sales manager for the Coca Cola Bottling Co. of Hawaii.

» Turtle Bay Resort has appointed Robert Boyle resort manager. He most recently served as president of Mountain View Grand Resort & Spa in Whitefield, N.H. He has nearly 20 years of resort management experience.

» PacRim Marketing Group Inc. has hired Marcus Ito as sales and marketing vice president. He will be responsible for overseeing the company's integrated marketing services department. He previously served as Asia Pacific sales director for the Ritz Carlton in Kapalua.

PROMOTIONS

» Kaanapai Golf Courses has promoted Kendric Kimizuka to first assistant golf professional, responsible for scheduling the various operational and outside guest services staff and handling departmental payroll. He has worked for the course since December 2004.

» A & B Properties Inc. has hired James D. Hasenyager as Kauai development project manager, responsible for all aspects of managing development of real estate projects. He has more than 24 years of project management and construction engineering experience.

» Celebrity Cruises has appointed Ellen Taaffe as senior vice president of marketing. She will be responsible for all aspects of the company's marketing program. She previously served as PepsiCo vice president of marketing, health and wellness programming.