Student stock game put on hold

The Hawaii Stock Market Simulation program, which is typically held twice a year, has been put on hold until the spring.

The Hawaii Council on Economic Education, which administers the program, said a contract with the state Department of Commerce & Consumer Affairs wasn’t going to be signed until after the scheduled start of the fall contest, which allows teams of two to four students to invest a hypothetical $100,000 in stocks, bonds and mutual funds over a 10-week period. The DCCA funds the program.

Sun Country bankruptcy plan OK’d

MINNEAPOLIS » Sun Country Airlines, a regional leisure carrier that flies to warm-weather destinations, said a bankruptcy judge approved its reorganization plan yesterday, putting it another step closer to emerging from Chapter 11 protection.

Creditors also have approved the plan.

Sun Country said in June it is looking into adding scheduled seasonal service from the Midwest to Honolulu during the winter season, with a layover in either Los Angeles or San Francisco.

The reorganization plan gives a majority stake to a court-appointed receiver managing the assets of Sun Country’s former owner, Tom Petters. Fraud allegations at Petters’ other businesses led to a 50-year prison sentence.

Nokia dumps CEO, taps Microsoft exec

HELSINKI » Nokia Corp. is replacing Chief Executive Officer Olli-Pekka Kallasvuo with Microsoft executive Stephen Elop as the world’s top maker of mobile phones aims to regain lost ground in the fiercely competitive smart phone market.

The choice of a North American executive to lead a Finnish company reflects the increasing dominance of U.S. and Canadian companies in the evolution of the phone business.

Apple Inc.’s iPhone has set the standard for today’s smart phones, while Research In Motion Ltd.’s BlackBerrys are the favorite of the corporate set. More recently, Google Inc.’s Android software has emerged as the choice for phone makers that want to challenge the iPhone.

New GM CEO pay package worth $9M

DETROIT » New General Motors Co. CEO Daniel Akerson will get up to $9 million in salary and stock, the same pay package granted to his predecessor, Ed Whitacre.

Akerson, a former telecommunications industry and private equity executive, will receive $1.7 million in annual salary, $5.3 million in short-term stock payable over the next three years, and another $2 million in stock that’s part of the company’s long-term executive compensation plan.

The automaker, which is 60.8 percent owned by the U.S. government, disclosed the pay package in a filing yesterday with the Securities and Exchange Commission. It is identical to what the company disclosed for Whitacre in February.

On the Move

» Coldwell Banker Pacific Properties has hired Wendy Dombrowski as human resources manager. She has 10 years of human resource and payroll experience, including as human resources coordinator for Expedia Local Expert.

» The Meetings and Conventions magazine has recognized the Hawaii Visitors and Convention Bureau with the 2010 Gold Service Award. HVCB is committed to ensure that meeting planners organize and execute "successful" events in Hawaii, which helped them to obtain the award.

» The Hawaii Convention Center has named the following:
Gary Matsumoto as its new banquet chef. He has more than 12 years experience in food production and food and beverage management, including general manager of Alan Wong’s Pineapple Room and sous chef at Alan Wong’s King Street restaurant.
Layne Okumura as information technology manager. He has more than 19 years’ experience in the information technology field, including the lead infrastructure technician for the Honolulu Advertiser.