HAWAII

Swap meet vendors to protest

The Aloha Stadium Swap Meet Vendors' Corp., commonly known as the Vendors' Association, plans to hold the first of several public demonstrations Saturday in protest of both the state-contracted swap meet management contractor, Centerplate, as well as the Stadium Authority and stadium management. The protest will be held prior to the University of Hawaii football team's game against the University of Nevada, Reno, and will start at 2:15 p.m. in front of the Aloha Stadium main gate.

The purpose of the demonstration is to bring awareness to the public about recent decisions and the immediate future of the swap meet, which brings in 60 percent of Aloha Stadium's annual revenue, according to Ashley Harding, vice president of the Vendors' Association. The vendors have been critical of new rules and regulations that they claim has resulted in lower sales.

“;We believe that the swap meet must reverse downward trends and adopt positive changes in order to support stadium repairs, all athletic events, concerts, special events and, of course, the unique shopping experience of the swap meet that we have all enjoyed for decades,”; Harding said.

Aloha Stadium spokeswoman Lois Manin referred calls to Centerplate's director of Hawaii operations, Roger Reeves, who was off island and didn't return a message.

Hawaiian Electric stock upgraded

Analyst James Bellessa Jr. of D.A. Davidson & Co. upgraded the stock yesterday of Hawaiian Electric Industries Inc. to “;neutral”; from “;underperform”; after noting that the company announced an agreement earlier this week with the state to expedite Hawaii's move to renewable energy. He also raised HEI's target price to $27 from $24.50.

Group 70 wins $7.5M Navy pact

The Naval Facilities Engineering Command Pacific has selected Hawaii-based Group 70 International Inc. as its prime consultant for a $7.5 million indefinite delivery/indefinite quantity architect/engineer contract for facilities and land-use planning studies, environmental impact documents, cultural resources management plans, natural resources management plans, and environmental studies and documents in the NAVFAC Pacific area of responsibility.

Tacone Grill opens in Waikiki

Tacone Flavor Grill has opened its first Hawaii location at Royal Hawaiian Center Paina Lanai food court.

The 649-square-foot takeout restaurant, which opened yesterday, is on the second level of Building C between Maui Tacos and Paradise Cafe. Tacone items include gourmet wraps and panini sandwiches. The restaurant is open daily from 10 a.m. to 10 p.m.

NATION

Wachovia loses $24 billion

NEW YORK » Wachovia Corp. reported yesterday a $24 billion loss as it took a goodwill impairment charge of nearly $19 billion ahead of its acquisition by Wells Fargo & Co.

The Charlotte, N.C.-based bank reported a loss after paying preferred dividends of $23.89 billion, or $11.18 a share, in the period ended Sept. 30, compared with earnings of $1.62 billion, or 85 cents a share, a year earlier. Excluding goodwill impairment of $18.7 billion and merger-related and restructuring expense of $414 million, the bank lost $4.76 billion, or $2.23 a share.

[ TAKING NOTICE ]

Promotions / New Hires

» CB Richard Ellis has hired Derek Worchel as real estate manager to its asset services team. His previous jobs include assistant property manager at PM Realty Group and mortgage agent at Clear Mortgage.

» Hawaiian Electric Co. has named Darcy Endo-Omoto vice president of government and community affairs. She replaces William Bonnet, who has retired after 23 years of service. She joined the company in 2004 as a public affairs specialist and has 17 years of legal, regulatory and government affairs experience including partner at Goodsill, Anderson Quinn & Stifel; deputy attorney general for the Hawaii Division of Consumer Advocacy; and litigation associate at Kobayashi, Sugita & Goda.