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Business Briefs
For Wednesday, September 24, 2008
POSTED: 01:30 a.m. HST, Sep 24, 2008
HAWAII
Fuel firm sentenced in tax case
Honolulu-based Fuelman Inc. has been charged with eight counts of failing to file its monthly fuel tax returns for various periods for tax years 2004 and 2005, the state Department of Taxation said yesterday.Michael Rossman, the company's president, was charged as the person responsible for failing to file the returns. Both Rossman and the company pled guilty to all counts and were sentenced in District Court.
Each defendant was granted a deferred acceptance of guilty plea with one-year deferrals and ordered to pay $12,000 each as well as court fees. A free standing order for restitution was issued for $20,159.25, and the company must remain tax compliant.
HawTel extends cable ruling
Hawaiian Telcom Communications Inc. has been granted another three-month extension before a final ruling by the state Cable Television Division on its application for a cable franchise.The extension delays consideration from Sept. 30 to Dec. 31. It is the 21st extension since the initial application in 2006, according to a letter from the state dated Sept. 12.
Outrigger Reef unveils new tower
The Outrigger Reef on the Beach in Waikiki has opened its new Pacific Tower, with 403 new guest rooms and 33 enlarged suites. The opening of the tower marks the beginning of the final phase of the hotel's $110 million renovation project."The Pacific Tower was gutted and completely rebuilt into larger guest rooms with beautiful new interiors and an array of modern amenities," said Bill Comstock, general manager.
The new rooms and suites come with 32-inch flat-panel LCD televisions, free long-distance telephone calls within Hawaii and to North America, and free high-speed Internet access.
Earlier, the hotel opened its renovated beachfront Ocean Tower, and in the coming months, the property will open several more shops, a new pool deck, and a casual poolside restaurant.
Dole Food to sell several divisions
Dole Food Co. said yesterday it has signed a binding letter of intent to sell its flowers division through two or three phases, with closing of at least the first phase expected to occur in the fourth quarter of this year.The fresh fruit and vegetable producer also said it has signed a definitive purchase and sale agreement to sell its JP Fresh subsidiary in England and its ripening and distribution business in France to Compagnie Financiere de Participations, a company in which Dole holds a non-controlling 40 percent stake, with closing expected to occur in the fourth quarter.
Net proceeds from the sales and some additional agricultural acreage in Hawaii, California and Mexico will be approximately $145 million, to be used to pay down Dole's senior secured credit facilities.
HR BioPetroleum to present in NYC
HR BioPetroleum Inc., a Hawaii-based renewable biofuels company, said yesterday that Martin Sabarsky, the company's chief financial officer, will present at the 2008 UBS Global Life Sciences Conference tomorrow at noon Eastern Daylight Time in New York.The audio webcast may be accessed by visiting the UBS Web site at www.ibb.ubs.com and clicking on the "Conferences" icon in the center right of the page. A replay of the audio webcast will be available beginning three hours after the live event until Oct. 25.
Longs won't start Walgreen talks
Walnut Creek, Calif.-based Longs Drug Stores Corp. yesterday repeated its refusal to enter buyout talks with Walgreen Co., or share information with its larger rival.Longs said Walgreen "has not presented a clear roadmap to completion" of a deal, and is not willing to assume any risk that the deal is rejected or delayed by antitrust regulators.
Longs will open its next new isle store at Kulamalu Town Center in Upcountry Maui next year. It will be Longs' fourth full-sized store on Maui and 40th store in Hawaii. Another store, under development in Pearl City, will be Longs' 41st store.
Walgreen has offered to buy Longs for $75 a share, or $2.8 billion. However, Longs has accepted CVS Caremark Corp.'s lower bid of $71.50 a share, or $2.7 billion.
NATION
Promotions / new hires
» Outrigger Enterprises Group has announced the following new hires to its interactive commerce department:* John McDonald as interactive commerce manager. His previous jobs include a systems analyst and an information technologies business lead for Hawaiian Airlines and a computer programmer for the State of Hawaii and Cybercomm Hawaii.
* Kim Steutermann Rogers as integrated marketing editor and writer. She worked as a freelance journalist and publisher and editor of Kauai Backstory.
» The Japanese Cultural Center of Hawaii has hired Marisa L. Takahashi as public relations/membership director. Her previous jobs include community and public relations program specialist at HMSA, news reporter and producer at KITV4/ABC News for four years and intern at the news departments of NBC11/KNTV News, KRON 4 and KTVU/Fox 2 in San Francisco.
» Easter Seals Hawaii has named Kathryn Harper director of development. She has 15 years of non-profit management, fundraising and marketing experience managing her own public relations and copywriting company Paradise Scribe and previously serving as director at Communications Pacific.
» Rider Levett Bucknall has named Nicole Franzen as marketing coordinator. She has four years of marketing and client development experience.
HAWAII
Fuel firm sentenced in tax case
Honolulu-based Fuelman Inc. has been charged with eight counts of failing to file its monthly fuel tax returns for various periods for tax years 2004 and 2005, the state Department of Taxation said yesterday.
Michael Rossman, the company's president, was charged as the person responsible for failing to file the returns. Both Rossman and the company pled guilty to all counts and were sentenced in District Court.
Each defendant was granted a deferred acceptance of guilty plea with one-year deferrals and ordered to pay $12,000 each as well as court fees. A free standing order for restitution was issued for $20,159.25, and the company must remain tax compliant.
HawTel extends cable ruling
Hawaiian Telcom Communications Inc. has been granted another three-month extension before a final ruling by the state Cable Television Division on its application for a cable franchise.The extension delays consideration from Sept. 30 to Dec. 31. It is the 21st extension since the initial application in 2006, according to a letter from the state dated Sept. 12.
Outrigger Reef unveils new tower
The Outrigger Reef on the Beach in Waikiki has opened its new Pacific Tower, with 403 new guest rooms and 33 enlarged suites. The opening of the tower marks the beginning of the final phase of the hotel's $110 million renovation project."The Pacific Tower was gutted and completely rebuilt into larger guest rooms with beautiful new interiors and an array of modern amenities," said Bill Comstock, general manager.
The new rooms and suites come with 32-inch flat-panel LCD televisions, free long-distance telephone calls within Hawaii and to North America, and free high-speed Internet access.
Earlier, the hotel opened its renovated beachfront Ocean Tower, and in the coming months, the property will open several more shops, a new pool deck, and a casual poolside restaurant.
Dole Food to sell several divisions
Dole Food Co. said yesterday it has signed a binding letter of intent to sell its flowers division through two or three phases, with closing of at least the first phase expected to occur in the fourth quarter of this year.The fresh fruit and vegetable producer also said it has signed a definitive purchase and sale agreement to sell its JP Fresh subsidiary in England and its ripening and distribution business in France to Compagnie Financiere de Participations, a company in which Dole holds a non-controlling 40 percent stake, with closing expected to occur in the fourth quarter.
Net proceeds from the sales and some additional agricultural acreage in Hawaii, California and Mexico will be approximately $145 million, to be used to pay down Dole's senior secured credit facilities.
HR BioPetroleum to present in NYC
HR BioPetroleum Inc., a Hawaii-based renewable biofuels company, said yesterday that Martin Sabarsky, the company's chief financial officer, will present at the 2008 UBS Global Life Sciences Conference tomorrow at noon Eastern Daylight Time in New York.The audio webcast may be accessed by visiting the UBS Web site at www.ibb.ubs.com and clicking on the "Conferences" icon in the center right of the page. A replay of the audio webcast will be available beginning three hours after the live event until Oct. 25.
Longs won't start Walgreen talks
Walnut Creek, Calif.-based Longs Drug Stores Corp. yesterday repeated its refusal to enter buyout talks with Walgreen Co., or share information with its larger rival.Longs said Walgreen "has not presented a clear roadmap to completion" of a deal, and is not willing to assume any risk that the deal is rejected or delayed by antitrust regulators.
Longs will open its next new isle store at Kulamalu Town Center in Upcountry Maui next year. It will be Longs' fourth full-sized store on Maui and 40th store in Hawaii. Another store, under development in Pearl City, will be Longs' 41st store.
Walgreen has offered to buy Longs for $75 a share, or $2.8 billion. However, Longs has accepted CVS Caremark Corp.'s lower bid of $71.50 a share, or $2.7 billion.
NATION
Promotions / new hires
» Outrigger Enterprises Group has announced the following new hires to its interactive commerce department:* John McDonald as interactive commerce manager. His previous jobs include a systems analyst and an information technologies business lead for Hawaiian Airlines and a computer programmer for the State of Hawaii and Cybercomm Hawaii.
* Kim Steutermann Rogers as integrated marketing editor and writer. She worked as a freelance journalist and publisher and editor of Kauai Backstory.
» The Japanese Cultural Center of Hawaii has hired Marisa L. Takahashi as public relations/membership director. Her previous jobs include community and public relations program specialist at HMSA, news reporter and producer at KITV4/ABC News for four years and intern at the news departments of NBC11/KNTV News, KRON 4 and KTVU/Fox 2 in San Francisco.
» Easter Seals Hawaii has named Kathryn Harper director of development. She has 15 years of non-profit management, fundraising and marketing experience managing her own public relations and copywriting company Paradise Scribe and previously serving as director at Communications Pacific.
» Rider Levett Bucknall has named Nicole Franzen as marketing coordinator. She has four years of marketing and client development experience.
Today’s Edition
- Damien celebrations draw to a close
- Calls for tax hike piling on reluctant lawmaker
- Retailers on guard as crooks ram vehicles into properties
- County pandemic plans to apply to overall state response strategy
- State welfare payouts drop as numbers of needy grow
- Earlier primary voting considered
- Whatever Happened To: Case of baby who died in Customs heads to trial after failure to settle
- Newswatch
- Police and Fire
- Shining Stars
- Vital Statistics
- What's open and closed on Veterans Day
- Trouble in Paradise
- Windfall is seen as bank bonuses are paid in stock
- Overweight Americans push back in the health care debate
- Handmade: Make your presence felt with 'Felties'
- Drawing attention
- Da Kine
- Scrivener's Sudoku: Army Community Hawaii
- Murakami's Calabash
- Warriors find winning formula
- Feeding frenzy for UH backs
- Porous run defense deflates Utah State
- Short snaps: UH vs. Utah State
- Further Review: Old-school running game keyed UH's feel-good win
- Amis out indefinitely with foot injury
- UH's Lee lifts Hawaii's spirit
- Farrington finds a way
- 'Iolani rolls Damien to prepare for states
- Hawaii Beat
- Scoreboard
- Television & Radio
- New kite business takes off
- Business briefs
- It's not too late to cut tax liability
- Hawaii Real Estate Sales
- Tracking Hawaii's student stock pickers
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