HAWAII

HawTel case shifting to Hawaii

A Wilmington, Del., federal Bankruptcy Court judge approved the transfer yesterday of Hawaiian Telcom Communications Inc.'s Chapter 11 case to Hawaii.

The company filed for bankruptcy on Dec. 1 in Delaware because Hawaiian Telcom is incorporated under Delaware law and the court is close to the company's advisers involved in the case, which would assist in mitigating costs. But after discussions with various constituents, Hawaiian Telcom determined that the move to Honolulu was a positive step in the restructuring process.

The company said at the time of its bankruptcy filing that it was seeking financial protection due to increased competition and an economic downturn that prevented it from reaching an agreement with creditors over $25.6 million in interest payments.

Wendy's in Wahiawa shuts down

Wendy's restaurant abruptly shuttered its doors in Wahiawa on Saturday in yet another indication of how the economic recession is affecting Hawaii businesses.

While a spokesman for Wendy's Atlanta-based parent company didn't know the exact number of employees, the average restaurant typically has between 20 and 30 mostly part-time employees.

The company shut down the “;older”; location, the lease of which it acquired two years ago from a franchisee, because the building requires significant improvements and the restaurant hasn't been able to generate enough revenue, said Denny Lynch, senior vice president of communications.

“;We tried to make it work for about two years and were just not able to do so,”; he said. “;It's a sign of the times. We feel very sad to have to close the store, but at the same token you can't run the store if you're not able to run it profitably.”;

Lynch said workers received severance checks yesterday. The company, which has more than 6,600 restaurants worldwide, has no plans to close any of its remaining restaurants: five on Oahu and one on Maui and the Big Island. Wendy's owns about 20 percent of its restaurants, while the remainder are operated by franchisees. 

Central Pacific pares board size

Central Pacific Financial Corp. has reduced the size of its board to 12 from 14 directors.

The board amended its bylaws on Monday following the retirement of Chief Executive Clint Arnoldus earlier this year and the pending retirement of Clayton Honbo at the end of the month.

The 12 remaining board members are Richard Blangiardi, Christine Camp, Earl Fry, Jeannie Hedberg, Dennis Hirota, Paul Kosasa, Colbert Matsumoto, Chief Executive Ronald Migita, Crystal Rose, Mike Sayama, Maurice Yamasato and Dwight Yoshimura.

The change is effective Dec. 31.

New isle tourism group debuts

A local travel publication has established a new organization, Hawaii Tourism Association, in response to a recent survey on state tourism.

The organization will establish specific lobby groups that will cover airlines, tourism policies and communication and help the state gain exposure at more than 40 events worldwide that the publication is affiliated with.

Juergen Thomas Steinmetz, publisher and co-founder of the trade publication - eTurboNews - said there are at least 15,000 active members of the industry interested in issues pertaining to Hawaii as a tourism destination.

Due to the ongoing tourism slump expected to continue for the next few years, Hawaii Tourism Association said it has identified key markets interested in doing business with the organization, including the Middle East, the new European Union countries and India.