Business Briefs


POSTED: Thursday, February 25, 2010

HMC used some collateral, judge says

Hawaii Medical Center used at least $4.5 million of cash collateral that was meant for former owner St. Francis Healthcare System of Hawaii, according to a tentative decision filed yesterday in U.S. Bankruptcy Court.

Hawaii Medical Center had about $9 million in a bank account that has been tapped for operations of the two hospitals, whose owner is in Chapter 11. The center has conceded that $2.7 million belonged to St. Francis, while the former owner argues that all of the $9 million belonged to it.

In his tentative decision, which will be discussed in court today, Judge Robert Faris determined that $4.5 million belonged to St. Francis. Faris is expected to place a lien on HMC assets for St. Francis as a result. A lien already has been in place since last month in lieu of this decision.


Haiti relief tax deadline is Sunday

Taxpayers wishing to claim their Haiti relief donations on this season's tax return must make those donations by the end of this month. Individuals and corporations have until midnight Sunday to make cash contributions to charities providing earthquake relief in Haiti. These contributions can be made by text message, check, credit card or debit card. Taxpayers also have the option of claiming the deduction on their 2010 return, but not for both years.

To get a tax benefit, taxpayers must itemize their deductions on Schedule A. Those who claim the standard deduction, including all short-term filers, are not eligible.


Isle company acquires Texas center

The Gretzinger Corp., a Hawaii commercial real estate investment company, recently acquired the Burwood Commercial Center in San Antonio.

The $1 million purchase included two fully occupied industrial buildings adjacent to the San Antonio International Airport. The 35,000-square-foot complex has seven industrial tenants on two acres of land.


Whole Foods store opens on Maui

Whole Foods Market Kahului opened its doors to the public for the first time yesterday with the first 200 shoppers spending $50 or more receiving an exclusive reusable tote, with a fresh Maui Gold pineapple inside.

The store has planned a number of community events for local shoppers through March, including a value tour on Sunday and health consultations on March 5.


Smaller thrift industry fares better

WASHINGTON » America's thrifts posted a small profit last year after two years of losses, evidence the industry might be stabilizing amid the economic recovery.

But the industry also saw significant consolidation as several large thrifts were combined with their parent banks. As a result, the amount of new mortgage loans originated by thrifts dropped last year.

The Office of Thrift Supervision said yesterday that savings and loans earned $29 million in 2009, after reporting net losses of $15.9 billion in 2008 and $649 million in 2007.

That is the industry's first profit since 2006, though it is far short of the $15.8 billion profit earned that year.


On the Move

; » Hale Kipa has announced the following new hires:
Dana Barnum as development director. She has more than 20 years of manager and fundraiser experience and was previously a divisional development director for the Salvation Army.
Marco Sausa as director of training. He has more than 10 years of experience in the field of education and is recognized for conducting research with stigmatized and underserved communities, including homeless youth.
Brian J. Barnhart as Web/application developer. He has an extensive background in IT and business operations as well as graphic design, illustration and Web development.
Adrienne Suarez as education researcher. Her experience includes being a youth advocate who coordinated area middle school afternoon-tutoring programs. She also tutored and taught at at-risk schools.

» State Farm Insurance has announced the following appointments:
—Frelynn Kahalehili as State Farm agent. She has 21 years of experience with the company, including agency field specialist.
Shelli Toguchi as State Farm agent. She has four years' experience with the company, as well as having been a skills trainer for Hawaii Behavioral Health.