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Business Briefs

For Saturday, October 23, 2010

By Star-Advertiser Staff and News Services


PBN editor files for Chapter 7

The editor of Pacific Business News, Kevin Bumgarner, filed for Chapter 7 bankruptcy debt liquidation this week, citing assets of $1 to $50,000 and debts of $50,000 to $100,000. Creditors included banks, credit card issuers, Ford Motor Credit, Sears and Wahiawa General Hospital, the filing said.

In a Chapter 7 bankruptcy, nonexempt assets are sold to repay creditors.

Bumgarner became editor of the weekly business journal in April. His family joined him later from Texas. Calls to his office were not returned yesterday.


25 investors sued in bankruptcy case

WAILUKU » The trustee in the Maui Industrial Finance Co. bankruptcy case has sued 25 investors in the company.

Trustee Dane Field is trying to recover money the investors received as interest over and above their original investment or deposit, The Maui News reported.

Field's attorney, Bradley Tamm, says the money wasn't really interest, but rather the fruits of a Ponzi scheme.

Tamm says Maui Industrial's owner, Lloyd Kimura, has acknowledged he used money from late investors to pay off early investors, without really generating income from operations. Tamm says that's the definition of a Ponzi scheme.

Maui News says it's unclear how much money went into the company.

Kimura's attorney, James Wagner, had no comment on Field's legal action.


Kaiser gets top quality rating for state

The National Committee for Quality Assurance has rated Kaiser Permanente Hawaii the top Medicare and Medicaid plan in the state.

In the NCQA's 2010-11 Health Insurance Plan Rankings, Kaiser Foundation Health Plan of Hawaii ranked No. 12 among 183 Medicare plans nationwide and second among 104 Medicaid plans based on quality and member satisfaction.

"While others are just starting to move toward integrated, customized care, Kaiser Permanente is already successfully putting our patients first and leveraging technology to provide them with the highest quality of care and most convenient experience," Kaiser President Janet Liang said.

The rankings are based on clinical quality, member satisfaction and NCQA Accreditation scores among all reporting Medicaid and Medicare plans in the nation.


State hospital facilities get $4.5M

Gov. Linda Lingle has released $4.5 million to the Hawaii Health Systems Corp. to upgrade state hospital facilities on Maui and Oahu.

Approximately $2.5 million will be used to design and build the patient monitoring system at Maui Memorial Medical Center. The project is expected to be completed in August.

Another $2 million will fund construction of a new parking lot at Maluhia Hospital, a long-term care and skilled nursing center on Oahu.


On the Move

» Hawaiian Tug & Barge/Young Bros. has promoted Michael MacDonald to manager of Regional Operations III Hawaii. MacDonald's experience includes work as harbor operations manager and manager of marine safety, quality and environmental protection for the company, and marine safety and quality specialist for the Marine Resources Group, HTB/YB's parent company.

» Bennet Group Strategic Communications has named Jenna Takenouchi as an account executive. She was previously working in the telecommunications industry.

» Chaminade University board of regents has welcomed its new chancellor, the Rev. Martin Solma, to the board. Board officers for this year include Gary E. Liebl, chair emeritus; Daniel L. Colin, first vice chair; Cori Ching Weston, second vice chair; and Jean Rolles, secretary. Newly appointed board members are David A. Bramlett, Daniel J. Curran, the Rev. Paul Marshall, the Rev. John A. McGrath and Dale Fryxell. In January Robert Kihune will also become a new regent.

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