BYUH winner swaps checks with runner-up

Sometimes, two winners are better than one.

Ben Howells, founder of Akin Clothing, proved that in Brigham Young University-Hawaii’s recent business plan competition.

Akin Clothing was named the $5,000 winner of the Social Entrepreneurship category for this year’s Empower Your Dreams event. Entraide Congo, created by Vulcain Yengo, took second place and the runner-up check of $3,500.

But after the awards were distributed, Howells decided to switch checks with Yengo because Howells already had the funding necessary to start his business and Yengo did not.

Howells, from Sheffield, England, is a senior studying international cultural studies and communications at BYUH. His business helps underprivileged children around the world receive an education by providing them with uniforms necessary to attend school.

Yengo, from Brazzaville, Congo, is a sophomore at BYUH studying supply chain management. His business consists of a plan to teach entrepreneurial skills through a simple education model to people in Yengo’s home country. The training is then followed up with mentoring to help establish individual businesses and other ventures.

"The main purpose of Empower Your Dreams is to build off each other in learning how to start new businesses, especially within the category of social entrepreneurship," Howells said in a university news release. "I know these guys (Entraide Congo) really well, and I really believe in what they are doing. I don’t see any ventures here as competition because what we want to do is empower people, and I feel like Entraide Congo had a plan to do that in a way that we couldn’t. We are just as happy to see them succeed as we are to see ourselves succeed."

SBA to celebrate award winners May 9

The 25th annual statewide Small Business Administration Small Business Awards Luncheon will salute outstanding small-business owners, exporters, advocates and entrepreneurs beginning at 11 a.m. May 9 at Hilton Hawaiian Village.

SCORE Hawaii, the local office of the Service Corps of Retired Executives, is hosting the event that will honor small- business owners Michael Tokunaga, president of S. Tokunaga Store in Hilo; Puna and Cricket Nam of Cinnamon’s in Kailua; Garrett Marrero of Maui Brewing Co.; Bill Dwyer of Kona Coffee Co. in Kailua-Kona; and Marie Cassals of Sweet Marie’s Hawaii in Lihue, among others.

The SBA also will recognize its top lenders and lending officers of the past year, as well as the top-performing government contractors in the state.

The "Winners Circle" expo that is concurrent with the luncheon allows winners to showcase their endeavors.

Tickets are $60 a person and can be purchased from the SCORE office via phone at 547-2700 or email at scorehawaii@scorehawaii.org.

Ala Moana Center mortgage refinanced

The owner of Ala Moana Center has refinanced its mortgage on Hawaii’s largest mall.

General Growth Properties Inc. arranged a new $1.4 billion mortgage with a 4.23 percent interest rate and interest-only payments through maturity in 2022. General Growth, which disclosed the refinancing in a Securities and Exchange Commission filing Tuesday, said the new loan repaid a less attractive $1.3 billion mortgage on the property that had a 5.59 percent interest rate and 2018 maturity.

HCDA defers harbor development vote

Board members of the Hawaii Community Development Authority deferred a vote Wednesday on whether to have a private developer improve and expand Kewalo Basin boat harbor under a long-term lease arrangement. The state agency is considering leasing the 143-slip harbor for 50 years to California-based marina operator Almar Management Inc. and a partner so they can finance an envisioned $18 million overhaul that includes adding 100 berth spaces.

Presently, the agency pays Almar to manage the harbor.

Agency directors were briefed in private about proposed lease terms and other details, but put off making a decision until a future meeting.

U.S. prescription spending barely budges

TRENTON, N.J. » Spending on prescription drugs in the U.S. was nearly flat in 2011 at $320 billion, held down by senior citizens and others reducing use of medicines and other health care and by greater use of cheaper generic pills.

Last year, spending on prescription drugs rose just 0.5 percent after adjusting for inflation and population growth, according to data firm IMS Health. Without those adjustments, spending increased 3.7 percent last year.

That continues a trend of restrained spending that began in 2007, when prescription spending dipped 0.2 percent.

ON THE MOVE

The Filipino Community Center has selected Rose Cruz Churma as its new president and chief executive officer. She heads her own architectural firm and DesignLab. Churma rejoins FilCom where she served as an executive director from 1998 to 2001.

Waimanalo Health Center has announced Mary Frances Oneha as its new executive director. She will be responsible for overseeing the operations of the health center, whose mission is to provide the highest level of primary and preventive health services. Oneha was previously the chief operating officer of the Waianae Coast Comprehensive Health Center.

Members of the East-West Center’s Board of Governors have elected R. Brian Tsujimura as the board’s new chairman. He is an attorney, land developer and lobbyist in Hono­lulu. His experience includes working as a deputy attorney general for the government, an assistant general counsel for AMFAC Inc. and president of AMFAC Property Development Corp.