Ex-Facebook exec to be MySpace CEO

NEW YORK » With MySpace falling behind Facebook as the world's largest online social network, MySpace tapped a former Facebook executive yesterday as its new chief executive.

Owen Van Natta, 39, replaces Chris DeWolfe, a co-founder of MySpace, who stepped down as chief executive Wednesday. News Corp., which owns MySpace, said Van Natta's new role begins immediately.

Van Natta faces the lofty task of reinvigorating MySpace at a time when Facebook is growing at a faster clip and Twitter, the short messaging site, is grabbing scores of headlines and celebrity attention. While MySpace is still the largest social network in the United States, it has only 130 million users worldwide, compared with more than 200 million for Facebook.

Maui hotel workers have new pact

Workers at the Kaanapali Beach Club on Maui have a new contract, according to UNITE HERE Local 5.

By a vote of 143 to 0, union workers at the Kaanapali Beach Club ratified a new two-year contract after months of negotiations.

Among the top priorities of the union workers were securing safe and reasonable working conditions, protection of bargaining-unit work from subcontracting, and the preservation of family medical coverage.

The new union contract, which expires in 2011, provides for a 3.5 percent wage increase, and would require any new employer to assume the existing contract in the event that the property is sold or transferred.

Hawaii Air Cargo expands service

Hawaii Air Cargo, a Honolulu-based freight forwarder, has enhanced its cargo service to Guam with door-to-door freight shipping from Hawaii and the mainland to any address in the U.S. territory.

The company previously offered airport-to-airport freight service from Honolulu to Guam.

The new service to Guam is in addition to the company's expanding freight-shipping options to and from the Far East. Hawaii Air Cargo provides regular freight service from many locations in Asia, including Japan, South Korea, China, Taiwan and Singapore.

Abe Lee Realty buys isle firm

Abe Lee Realty has formed a new multifamily property management division by acquiring Kuchler and Co. in a deal between two Hawaii firms. The acquired company was founded by Phillip “;Flip”; Kuchler in 1992.

“;This is an aggressive growth strategy in these uncertain financial times,”; Abe Lee said.