Target removes farmed salmon

MINNEAPOLIS » Target Corp., the nation's second-largest discounter after Wal-Mart Stores Inc., said yesterday that it pulled all farmed salmon from its stores as it looks to be more environmentally conscious.

The move affects national brands and the chain's own Archer Farms and Market Pantry brands. Target said sushi carried in its stores that currently use farm-raised salmon will switch to wild-caught salmon by year's end.

Companies have increasingly shifted away from farmed salmon due to pressure by consumers and environmentalists, who want wild-caught salmon used because it can help preserve salmon levels as well as species health.

Island Air names new CEO

Island Air has shuffled its top executives with Chief Operating Officer Bruce Wetsel stepping down and moving into a special-projects consulting role, and Chief Financial Officer Lesley Kaneshiro taking over as chief executive officer.

“;I have concluded that as a result of the continued slump in the economy, Island Air will remain very conservative this year by streamlining our operation to survive the long run,”; said Charles Willis, chairman of Island Air. “;In that respect, Bruce and I mutually agreed that in this economic climate he had accomplished what he set out to do at Island Air, and it was an appropriate time for his departure.”;

Aloha Air Cargo adds customer

Aloha Air Cargo has announced a new contract under its division dedicated to repair and maintenance of airframes and engines for other airline operators.

Dubbed Aloha Tech Ops, the division has signed a contract with Alaska Airlines to maintain its fleet of 737 aircraft in Hawaii starting next month. WestJet Airlines is another recent client.

Aloha Air Cargo is expected to hire a dozen employees skilled in Boeing 737 maintenance to accommodate the contract.

Home Depot to lay off 1,000

NEW YORK » Home Depot Inc., the largest U.S. home-improvement retailer, said yesterday it is laying off 1,000 staffers as it cuts three pilot programs and some support positions.

An internal memo sent to staffers by Chief Executive Officer Frank Blake said about 900 of the cuts stem from consolidating some support functions in its human resources, finance and other divisions. The Hawaii stores are not effected by these cuts, said Steve Holmes, Home Depot's senior manager of corporate communications.

The rest come from the company closing a small-format pilot store in Wilson, N.C.; a temporary hurricane recovery outlet in Waveland, Miss.; and a clearance outlet in Austell, Ga. Blake said in the memo there were no plans to close any full-size Home Depot stores.

The cuts are less than 1 percent of Home Depot's more than 300,000 workers.

Verizon to cut 13,000 jobs

Verizon reported a fourth-quarter loss of $653 million yesterday, mostly because of costs related to layoffs, despite a 10 percent increase in revenue.

The company also said it planned to cut an additional 13,000 jobs this year.

Verizon said it added 2.2 million wireless subscribers in the quarter, up substantially from the 1.2 million added a year earlier.

The quarterly loss came to 23 cents a share and contrasted with a profit of $1.24 billion, or 43 cents a share a year earlier. It took a charge of $3 billion, or 66 cents a share, related to severance expenses in the quarter.

Revenue rose to $27.1 billion, from $24.65 billion in the period a year earlier, much of it because of the acquisition of the Alltel Corp.

GM to sell Saab to Dutch firm

DETROIT » Saab got a new life yesterday as General Motors Co. agreed to sell the Swedish car brand to the small Dutch luxury carmaker Spyker Cars NV.

Under the deal, GM will get $74 million in cash plus $326 million worth of preferred shares in Saab. GM will get “;other considerations,”; which it did not specify.

ON THE MOVE

Larry Nagayama has been promoted to assistant vice president and manager of the airport branch of Hawaii National Bank, and Todd Inouye was promoted to senior credit analyst. Nagayama has been with Hawaii National Bank since 1990. Inouye will manage the credit analysis department and assist the senior credit officer.

Best Lawyers, a legal profession publication, has named Mary Jane Connell as “;Honolulu Best Lawyers Trusts and Estates Lawyer of the Year”; for 2010. She is a partner at Carlsmith Ball Honolulu.

Princeville Prince Golf Course has promoted Shaylyn Kimura to business development and marketing manager. Kimura will be responsible for all sales, marketing and promotion for the Prince Golf Course, as well as Princeville Health Club & Spa and Princeville Restaurant & Bar.