Honolulu bond issue could reach $925M
The City and County of Honolulu will soon issue up to $925 million in general obligation bonds to finance various capital improvements and refinance outstanding bonds for interest rate savings.
The city expects to give priority to individual Hawaii investors wanting to purchase the new bonds during a one-day retail order period on Oct. 24. An order period for institutional investors would follow the next day.
The bonds, authorized Wednesday by the City Council, will be rated by both Moody’s Investor Services and Fitch Ratings. The bonds will pay semiannual interest and will be sold in denominations of $5,000. The bonds will be exempt from Hawaii income taxes. However, selected series will be subject to federal income taxation.
Bank of America Merrill Lynch will serve as the lead underwriter on the transaction, with Piper Jaffray & Co. serving as a co-managing underwriter.
Hawaii Kai Towne Center has new manager
Jones Lang LaSalle announced Friday that it has taken over leasing and management of the Hawaii Kai Towne Center.
The 480,000-square-foot center at 333 Keahole St. is anchored by Costco Wholesale, Ross Dress for Less and City Mill Home Improvement Center.
Chicago-based Jones Lang LaSalle’s retail portfolio already includes Windward Mall and Kapalama Center on Oahu, Queen Kaahumanu Center on Maui and the Kings’ Shops on Hawaii island.
Hawaii Kai Towne Center, built in 1993, is currently 100 percent leased, the company said.
Job Quest fair includes employer briefings
Next week’s Job Quest job fair for the first time will include sessions where employers will brief job seekers about which industries need workers and what applicants need to obtain the necessary skills for those positions.
More than 180 employers will be recruiting at the event set for 10 a.m. to 3 p.m. Tuesday at the Neal Blaisdell Center.
"The fact is many of the jobs that went away with the recession will never come back," said Beth Busch, executive director of Job Quest. "But new jobs, companies and industries will. We need to prepare our workforce to take these jobs by teaching them how to transition their existing skills and gain new ones."
Job seekers are advised to bring copies of their résumés, dress professionally and research companies in which they may be interested. The event is sponsored by Altres Staffing, Bank of Hawaii, Hawaii Pacific Health and Oahu Worklinks. Admission is $3; students, military and seniors with ID will be admitted for $1. Visit www.successhi.com.
Mobi PCS promotes Woelfel to CFO
Mobi PCS has promoted Mark Woelfel to chief financial officer, the company announced Friday.
Woelfel joined the company in 2011 as director of financial planning and analysis. As CFO he will oversee all financial aspects of the company, including accounting, finance, forecasting, strategic planning, investor relations and financing.
Prior to joining Mobi PCS, he served as chief financial officer for the Sycuan Band of Kumeyaay Nation, a Native American tribe in California that owns a casino, hotels and other investments.
Woelfel holds a Bachelor of Science in accounting from Providence College.
Labor talks for Allegiant attendants stall
LAS VEGAS » Allegiant Air, which has announced 10 new mainland routes to Hawaii since entering the market in June, and a union representing 600 flight attendants say contract talks have stalled and the National Mediation Board is being asked to step in.
Transport Workers Union of America negotiator and flight attendant Debra Petersen-Barber said in a statement Friday that tentative agreements have been reached on several issues. But she says the two sides haven’t agreed on issues including pay, compensation for extended delays and union dues deductions.
Company spokeswoman Jessica Wheeler called mediation a standard part of negotiating. She says Las Vegas-based Allegiant is committed to balancing the interests of union members with interests of the business.
Allegiant pilots last month voted to be represented by the International Brotherhood of Teamsters.
Publicly traded Allegiant Travel Co. specializes in airline service between smaller cities and resort destinations.
AMR pilots appeal ruling to scrap contract
The Allied Pilots Association filed a notice that it will appeal a federal bankruptcy judge’s ruling allowing AMR Corp.’s American Airlines to throw out its labor agreement with pilots.
U.S. Bankruptcy Judge Sean Lane in Manhattan granted American’s request to reject the pilots’ contract on Sept. 4, saying proposed changes to the agreement are necessary for the airline’s restructuring.
The pilot’s group will ask a federal appeals court in New York to consider whether Lane’s reasoning was in error because the company made no effort to show that it couldn’t reorganize with lesser earnings, and concessions sought exceeded those needed for competitive pilot labor costs, according to a filing Friday.
On the Move
Michael Rodyniuk has been appointed executive vice chairman at Gavarnie Holding LLC, parent company of Island Air. He is a veteran airline executive, having served in executive positions at Swissair’s SR Technics, Air Canada’s Zip Air, WestJet and Winnipeg Airports Authority. Most recently he was chief operating officer of Exchange Income Corp.’s aviation segment.
ABC stores has promoted:
>> Carl Nakagawa to project coordinator from warehouse manager.
>> Mark Flores to warehouse manager of its Central Warehouse and Distribution Center.
Certified Hawaii has announced James Brese as its branch controller, responsible for providing financial and accounting services to Certified clients and the branch itself. Brese was previously manager of finance at APS Healthcare.
