HMC creditors want reorganization plan axed

Hawaii Medical Centers’ unsecured creditors committee has filed a motion seeking to overturn a reorganization plan that would return ownership of its two hospitals to St. Francis Healthcare System of Hawaii.

The committee claims the debtors are trying to circumvent a previous reorganization plan that contractually bound HMC to pay unsecured creditors in full over time, whereas a current plan “proposes to make no distributions” of general unsecured claims.

Hawaii Medical Center, the former St. Francis Medical Centers in Liliha and Ewa, filed for Chapter 11 bankruptcy in June, less than a year after emerging from bankruptcy.

As part of the Chapter 11 bankruptcy reorganization, HMC proposes to relinquish ownership of the hospitals to lender and former owner St. Francis Healthcare System of Hawaii.

Hawaii aquaculture sales fell in 2010

Aquaculture sales in Hawaii fell last year for a second consecutive year as trouble at two large open-ocean aquaculture farms depressed industry productivity.

The local field office of the National Agricultural Statistics Service reported that Hawaii aquaculture sales fell 7 percent last year to $30 million from $32 million the year before. The industry’s recent peak was $35 million in 2008, but last year’s total was still higher than 2007’s total of $25 million.

Decreases in the past two years stemmed largely from shrinking finfish production, which peaked in 2008 at 1.3 million pounds valued at $7 million before falling to 821,000 pounds valued at $4.4 million in 2009, then 211,000 pounds valued at $1 million last year.

Finfish production has historically been dominated by two companies, Kona Blue Water Farms on Hawaii island and Hukilau Foods on Oahu — both of which have encountered production difficulties and are not selling fish.

Production of algae has helped keep the industry somewhat stable, representing $16 million to $17 million in sales in each of the last three years.

Ward Centers to welcome new tenants

Five new stores and three seasonal stores are coming to Ward Warehouse and Ward Centre.

Ocean Queen, seller of yoga and meditation products, and Himalayan and Tibetan apparel and accessories; apparel and accessory retailer Chelsea, which also sells dog clothing; Hello Kitty-branded merchandise retailer CaraMia; and the Patisserie bakery and restaurant will open at Ward Warehouse in September and October.

Divalicious, a women’s apparel and accessory store, will open at Ward Centre in the first week of October.

Also, three temporary holiday stores will open at Ward Warehouse in September. Opening Sept. 1, Santa’s Pen will sell Hawaiian and traditional Christmas ornaments designed to be personalized. Beginning Sept. 15, Calendar Club will offer calendar items; and Go! Games will offer games for all ages, puzzles, plush toys and other novelty items.

Nature Conservancy gets $500,000 donation

Forest conservation on Hawaii island is getting a big boost from a commercial building developer who lives part time in Hawaii.

Edmund C. Olson, founder and chairman of A-American Storage Management Co. Inc., the seventh-largest self-storage company in the country, recently donated $500,000 to The Nature Conservancy to help protect native forests in Kau and South Kona.

Olson, 80, owns homes in Hilo and Pahala, and also is a partner in O.K. Farms LLC, a Hawaii County producer of coffee, macadamia nuts, honey, tropical fruits, avocados, citrus and hearts of palm. Olson also owns more than 13,000 acres on Hawaii island and almost 3,000 acres on Oahu largely in agriculture or preservation.

Martin & MacArthur to open ninth isle store

Martin & MacArthur will open its ninth store Friday at the Waikoloa Beach Resort on Hawaii island.

The 4,500-square-foot store at the Kings’ Shops will be the largest for the local retailer, which opened seven stores on four islands during the past two years.

The company, which has 100 workers, hired eight employees due to its retail expansion on Hawaii island. The new store will feature home accessories, artwork and jewelry made by more than 100 local artisans.

ON THE MOVE

Sunetric has hired the following:
» Bradley W. Heyen as a commercial project manager. He was previously a project manager for ERRG Inc. and BEA Systems Inc.
» Henry Antonio Marrugo as a commercial project manager. He has 13 years of project manager experience.

Sales and Marketing Executives International Honolulu Chapter has elected the following 2011-2012 board of directors: Lee Collins, president; Jaydence Goya, vice president; Jean Miura, secretary; Malia Lageman, treasurer, Joe Bock, Tim Deegan, Lihn DePledge, Jason Kama, Jim Myers, Clint Schroeder, Elizabeth Stevenson, Michael Troy and Mike Wiley, directors; David Hayter, Naomi Kanna, Donna Smith, Keali‘i Kane, David Livingston and Janet Scheffer, associate directors.

Coldwell Banker Pacific Properties has raised more than $33,000 for Aloha United Way’s 2011 Pacesetter Campaign, which has exceeded the company’s goal of $24,000 by more than 37 percent.