A&B campaign aids hundreds of nonprofits
Alexander & Baldwin Inc. said its Kokua Giving Program donated $1.3 million to the charitable and community causes of 365 organizations across Hawaii from the time of its separation from Matson Inc. in July 2012 through December 2013.
The Kokua Giving Program was established to carry forward the charitable legacy of the Alexander & Baldwin Foundation and to ensure A&B remains grounded in the commitment to philanthropy instilled by its founders.
The $1.3 million encompasses both direct corporate giving and corporate matches of employee gifts, including $420,000 for health and human services programs, $300,000 for education throughout the state, $250,000 for community and civic programs, and $200,000 for culture and arts.
Island Air thanks troops with special deals
Island Air is launching a new military appreciation program Thursday in honor of National Military Appreciation Month that offers special benefits to active-duty service members.
When showing a military ID upon check-in, Island Air will offer the service member priority boarding when in uniform, up to two free checked bags when traveling on orders, and one free checked bag when traveling on leisure for the active military member and family traveling with him or her (maximum of up to four bags).
Cardax loss widened to $4.4M in 2013
Honolulu-based biotech firm Cardax Pharmaceuticals, which went public in February, saw its loss nearly double in 2013 to $4.4 million from $2.5 million in 2012, according to a recent filing with the Securities and Exchange Commission.
Since its inception on March 23, 2006, the company has lost $32.9 million. Cardax had no revenue last year compared with just $10,000 in revenue the year before. It has $92.9 million in revenue since its founding.
Cardax, which went public after completing a reverse merger with Houston-based Koffee Korner, opened as a public company at a stock split-adjusted 69 cents on Feb. 10. Its shares closed down 8 cents at $1.03 Tuesday on the over-the-counter market.
The company said it is devoting substantially all of its efforts to developing nutraceutical and pharmaceutical technologies for products that provide the anti-inflammatory benefits of steroids or nonsteroidal anti-inflammatory drugs.
Local surf apparel company turns 50
Jams World is celebrating its 50th anniversary this year.
The company was founded in 1964 by Dave Rochlen, who established surf shop Surf Line Hawaii after his arrival in Hawaii in 1962. The first Jams were modified, short pajama pants with a sewn-shut fly that Rochlen’s wife, Keanuenue, made at his request, using brightly colored fabric he had purchased. The surf short design was featured in LIFE magazine and became a well-known brand.
Jams evolved into Jams World, a brand of casual wear for men and women with six retail stores on Oahu, Maui and Hawaii island. The brand also is available in retail stores in 33 U.S. states and more than half a dozen countries around the world.
The company is conducting a gift card giveaway on its Facebook page through Sept. 30.
Criminal charges loom for major banks
Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, including First Hawaiian Bank parent BNP Paribas, according to lawyers briefed on the matter. The development could produce the first guilty plea from a major bank in more than two decades, and in doing so, prosecutors are confronting the popular belief that Wall Street institutions have grown so important to the economy that they cannot be charged.
Addressing those concerns, prosecutors in Washington and New York have met with regulators about how to criminally punish banks without putting them out of business and damaging the economy, interviews with lawyers and records reviewed by The New York Times show. The new strategy underpins the decision to seek guilty pleas in two of the most advanced investigations: one into Credit Suisse for offering tax shelters to Americans, and the other against France’s largest bank, BNP Paribas, over doing business with countries like Sudan that the U.S. has blacklisted.
ON THE MOVE
Group 70 International has named Charles Kaneshiro president and chief operating officer. He replaces Linda Miki, who will join the firm’s board as vice chair. Kaneshiro is AIA and LEED AP certified with nearly 15 years’ experience with the firm.
Kaiser Permanente Hawaii has awarded $90,000 to the Age Friendly City Initiative planned by the City and County of Honolulu and AARP Hawaii. The program is designed to implement accommodations for Honolulu’s aging population by 2018 in the areas of outdoor spaces, transportation, housing, communication and social environment, civic participation and employment, and community support and health services.
The Queen’s Medical Center has been awarded the Hospital Safety Score of "A" by The Leapfrog Group. The score is based on the hospital’s overall patient safety from accidents, errors, injuries and infections.
