Continental to cut Orange County-Maui flight

Continental Airlines is dropping its nonstop Orange County-Kahului service less than two years after it started.

The airline still flies between John Wayne Airport and Honolulu while American, Continental, Delta, Hawaiian and United airlines all offer nonstop daily service from nearby Los Angeles airport.

Julie King, spokeswoman for United Continental Holdings Inc., said the last flight will be Jan. 2. Continental is using a 124-seat Boeing 737-700 on the Orange County route.

"The demand in the market is not sufficient to sustain the service for the long term," she said. "We are contacting customers currently booked on our flights between Orange County and Maui and offering to either re-accommodate them on other flights or provide a refund."

Continental began Orange County-Maui service in March 2010, two years after Aloha Airlines shut down. Orange County had been a mainland hub for Aloha.

Seeking entries for ’10 Who Made a Difference’

The Honolulu Star-Advertiser invites you to nominate people who have made a difference in Hawaii during the past year. They can be people who fought controversial battles in public or worked behind the scenes in any field — community service, education, politics, law, labor, medicine, science, business, sports, entertainment, the arts. All that matters is that they had a devotion to their cause and made a profound impact on Hawaii.

To nominate someone, explain why you think the person should be honored. Deadline for nominations is Dec. 9.

Honorees will be selected by Star-Advertiser editors. We will publish the results starting Dec. 22.

Please include the following information: your name, your nomination and your work and home telephone numbers.

E-mail your nominations to difference@staradvertiser.com, or mail them to 10 Who Made a Difference, Honolulu Star-Advertiser, 7 Waterfront Plaza, Suite 210, 500 Ala Moana Blvd., Honolulu, HI 96813.

Facebook IPO could value firm at $100B

Facebook Inc. is considering raising about $10 billion in an initial public offering that would value the social-networking site at more than $100 billion, a person with knowledge of the matter said.

Facebook might file for an IPO before the end of the year, said the person, who asked not to be identified because the deliberations are private.

At $10 billion the offering would raise more money than any other technology IPO, a sign investors are eager to get a piece of the top social-networking company. The amount would dwarf that of the previous record holder, Infineon Technologies AG, which generated $5.23 billion in its 1999 debut. Agere Systems Inc. raised $4.14 billion in 2000, putting it second.

Facebook’s $100 billion valuation would be twice as high as it was in January, when the company announced a $1.5 billion investment from Goldman Sachs Group Inc. and other backers at a worth of $50 billion. Facebook is currently pegged at $66.6 billion on SharesPost Inc., which handles trading of closely held companies.

Court rejects SEC settlement with Citigroup

NEW YORK » A judge on Monday used unusually harsh language to strike down a $285 million settlement between Citigroup and the Securities and Exchange Commission over toxic mortgage securities, saying he could not tell whether the deal was fair and criticizing regulators for shielding the public from details of the firm’s wrongdoing.

U.S. District Judge Jed Rakoff said the public has a right to know what happens in cases that touch on "the transparency of financial markets whose gyrations have so depressed our economy and debilitated our lives."

In such cases the SEC has a responsibility to ensure that the truth emerges, he wrote. The SEC had accused the bank of betting against a complex mortgage investment in 2007 — making $160 million in the process — while investors lost millions.

European leaders race to quell debt crisis

BRUSSELS » Eurozone finance ministers are streaming into Brussels today in a desperate bid to save the 17-nation euro currency — and to protect Europe, the United States, Asia and the rest of the global economy from a debt-induced financial tsunami.

If the euro fails, bank lending would freeze, stock markets would likely crash, and Europe’s economies would crater. Nations in the eurozone could see their economic output fall temporarily by as much as 50 percent, according to UBS forecasters.

ON THE MOVE

Hawaii Credit Union League has made the following appointments:

» Elizabeth "Liz" Ott to education and meeting coordination officer from administrative assistant.

» Yolanda Rucker as its administrative assistant.

The Friends of the University of Hawaii Cancer Center raised nearly $100,000 through a fundraiser Nov. 18 at the home of Priscilla and Jim Growney. The money will benefit research and educational programs at the Cancer Center.

Frito-Lay’s new distribution facility on Oahu has earned the U.S. Green Building Council LEED Gold certification. The facility is Hawaii’s first industrial "new construction" gold site.

ABC Stores has announced the following promotions:

» Jonathan Inouye to store manager of ABC Store in the Waikiki Beach Walk Shopping Center. He started at ABC as a stock clerk.

» Bernadette Castillo to store manager of Hawaiian Casuals Store at 2476 Kalakaua Ave. She started as a management trainee.

» Darryl Chun to store manager of ABC Store at 2020 Kalakaua Ave. He joined ABC Stores as a management trainee.

» Jon Tamashiro to store manager of ABC Store No. 25, fronting the Pacific Beach Hotel in Waikiki.

» Alan Tonokawa to store manager of ABC Store No. 64 at 349 Royal Hawaiian Avenue in Waikiki.

» Robert Higuchi to store manager of ABC Store No. 83 at 1831 Ala Moana Blvd., fronting Hilton Hawaiian Village Resort.