Business Briefs


POSTED: Wednesday, May 26, 2010

Other isle banks take China cards

First Hawaiian Bank and Central Pacific Bank have been accepting China UnionPay credit and debit cards at ATMs and at merchant terminals for two years, but don't have the same formal marketing agreement with CUP that Bank of Hawaii announced Monday.

Spokesmen at First Hawaiian and Central Pacific said there are international surcharges when CUP cards are used at their terminals.

However, Bankoh said it is waiving the surcharge under its three-year agreement with CUP, which calls for Bankoh to offer the Chinese language on its ATMs and to engage in a cross-marketing program in each other's markets. Bankoh began accepting CUP cards with a surcharge in February 2009.

'Iolani team wins national title

The economics team from 'Iolani High School is the national champion after beating a Texas school in the National Economic Challenge.

The competition, which took place Monday in New York, quizzed students on historical and current economic events as well as computational questions. Bellaire High School from Bellaire, Texas, was beaten 14-7.

The 'Iolani team consisted of seniors Andrew Ellison, Jesse Franklin-Murdock, Sean Cockey and junior Mark Grozen-Smith. The seniors will be attending the University of Pennsylvania, George Washington University and MIT, respectively. Grozen-Smith will return to 'Iolani for his senior year.

HMC hearing postponed again

A hearing to confirm a reorganization plan for Hawaii Medical Center was delayed again yesterday to this morning.

Attorneys for CHA Hawaii, which owns the hospitals, and St. Francis Healthcare System of Hawaii, the largest creditor in the case, said they were able to reduce the number of problems in the plan but have more to iron out.

Both parties indicate they want to agree to a single plan. U.S. Bankruptcy Court Judge Robert Faris has to choose between two plans: CHA Hawaii's, which would turn the company into a nonprofit; or the plan by St. Francis, which seeks to regain ownership of the hospital. The confirmation hearing has been rescheduled for 9:30 a.m. today.

Hawaii Biotech, Maryland firm unite

Hawaii Biotech Inc. and Maryland-based Advanced BioScience Laboratories Inc. are partnering for pre-clinical development of a vaccine for dengue fever.

Hawaii Biotech will begin a human clinical study with a tetravalent dengue vaccine candidate later this year. The project will be funded with federal funds from the Department of Health and Human Services.

Advanced BioScience Laboratories will oversee the manufacturing, assembly and testing of supplies. The three-way collaboration could save Hawaii Biotech about $2 million.

U.S., China vow economic cooperation

BEIJING » The United States and China pledged closer cooperation on financial regulation and energy yesterday but made no breakthroughs on currency exchange rates in a high-level dialogue overshadowed by Korean tensions.

China agreed to modify a policy on promoting domestic technology development that Washington and others complain might hamper trade. U.S. officials said they still have concerns and that the two sides will hold more talks in coming months.

Disney, Burkle end Miramax talks

LOS ANGELES » The Walt Disney Co. has called off talks to sell its Miramax movie division to billionaire Ron Burkle for $625 million, a person familiar with the matter said yesterday.

The deal would have seen the label's founders, the Weinstein brothers, regain control of the Oscar-laden catalog.

The talks with Burkle, whose Yucaipa Cos. was the majority shareholder of Aloha Airlines, and the Weinsteins hit an impasse over how The Weinstein Co. would benefit from the arrangement and how Harvey and Bob Weinstein would spend their time managing two movie studios. Disney called off the talks late Monday, the person said.


; Hagadone Printing, Hawaii's largest printer, has named Clint Schroeder as president. He will replace Erwin Hudelist, who stepped down for health reasons. Schroeder was vice president for advertising for the Honolulu Advertiser.


Richard A. Heltzel, president of Healy Tibbitts Builders Inc. of Aiea, received the Small Business Administration's Dwight D. Eisenhower Award for Excellence, which recognizes large prime contractors that have excelled in using small businesses as suppliers and subcontractors.


Bank of Hawaii has named four Maui County nonprofits recipients of this year's Bank of Hawaii Mike Lyons Maui Community Award. The total donation of $20,000 were equally shared among Fun Day Foundation, a Keiki's Dream; Hale Makua Health Services; Maui County Salvation Army; and Maui Economic Concerns of the Community.


The Hawaii CCIM Chapter has awarded the Certified Commercial Investment Member designation from the CCIM Institute to Evgeny Dafner of Hawaii International Real Estate and Giorgio Caldarone of Kamehameha Schools.