Business Briefs


POSTED: Wednesday, March 24, 2010

Nintendo plans 3-d hand-held

TOKYO » Looking for its next big hit, Nintendo said yesterday it would begin selling a 3-D version of its popular hand-held console within a year.

The “;Nintendo 3DS”; will feature a 3-D display without the need for glasses. The new portable gaming device will be compatible with software made for earlier DS models, the company said.

Nintendo revealed little else except to say that it would offer details in June. But the Kyoto-based company's announcement immediately lit up tech blogs and Twitter feeds. The company is also looking to expand on the DS' long-running success. Although the company's Wii is losing market share, demand for the DS remains solid more than five years after it was launched.

Avatar Reality lures $4.2M investment

Interactive entertainment company Avatar Reality Inc. has raised an additional $4.2 million in venture capital funding from Kolohala Ventures, video game magnate Henk Rogers, an Avatar officer, and others, bring total investments in the Honolulu-based company to $13 million.

The company said yesterday that it has also hired Trent Ward as vice president of design. Avatar Reality is the creator of the multiplayer online virtual world platform Blue Mars. “;Using Blue Mars, anyone can create games, meeting places and social media experiences that reward users, encourage community and really push what's possible online,”; Ward said.

Corzine to head brokerage company


NEW YORK » Former New Jersey Gov. Jon S. Corzine will take the helm of futures and options brokerage MF Global Holdings Ltd., returning to the private sector after nearly a decade in government.

Effective immediately, the 63-year-old takes over from Bernard W. Dan, who has resigned as CEO for personal reasons but will remain through May 16 to help with the transition. Alison J. Carnwath is stepping down as chairwoman in August, after completing her three-year commitment to the company.

A former chairman of Goldman Sachs Group Inc., Corzine served as a U.S. senator from 2001 to 2006 before becoming governor of New Jersey. He recently lost his bid for re-election to Republican Chris Christie and had been rumored to be a candidate to replace Ken Lewis as CEO of Bank of America Corp.

The news sent shares of MF Global up nearly 10 percent in aftermarket trading to $8.16. The company has faced a turbulent couple of years, after a 2008 scandal involving a rogue trader sent its stock plunging more than 80 percent, slashing hundreds of millions from MF's market value. CEO Kevin Davis stepped down later that year and was succeeded by Dan, a former president and CEO of the Chicago Board of Trade.

Lions Gate rejects Icahn bid again

SANTA MONICA, Calif. » Lions Gate Entertainment Inc. has rejected the latest bid by activist investor Carl Icahn for control of the film studio, calling the offer too low.

The company said yesterday its board voted unanimously against Icahn's offer to buy all of its outstanding shares for $6 each, which would value the deal at about $575 million.

Lions Gate had already rebuffed an offer of $6 per share by Icahn last month that would have raised his stake in the company to 30 percent from 19 percent. The company also rewrote its bylaws to make such a takeover attempt more difficult in the future, a move Icahn has said he will challenge in court.

Lions Gate said Icahn's offer is little changed except that he wants the whole company now. Vice Chairman Michael Burns said Icahn is “;trying to get complete control of Lions Gate without paying a premium.”;




The Board of Trustees at Hawaii Pacific University has elected James A. Ajello as the newest board member.

He is a senior financial vice president, treasurer and chief financial officer of Hawaiian Electric Industries.


The Cancer Research Center of Hawaii has named the following board members:

» Priscilla Growney, who helped found North Hawaii Hospice and served as a caregiver for numerous years;

» Jason Nagai, treasurer of the board and senior manager at Ernst & Young;

» Diane Ono, vice president/secretary, who rejoined the board. She is also an attorney at Galiher DeRobertis Ono.


The Hawaii Funeral & Cemetery Association has announced the following 2010 board of directors:

» Jerome Andrade, president; Mark Ballard, vice president; Beverly Dodo, secretary; and Alice Hahn, treasurer. Directors are Miles Okamura, Roberta Simpkins, David Morikami, Clifford Hosoi, Eadean Buffington, Derwin Tsutsui, Jay Morford and Claus Hansen.