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Business Briefs

For Saturday, May 21, 2011

By Star-Advertiser Staff and News Services

POSTED:
LAST UPDATED: 11:35 p.m. HST, Aug 05, 2011


Loui tapped for Export-Import board

Honolulu businesswoman Patricia Loui has been nominated by President Barack Obama to serve as a member of the board of directors of the Export-Import Bank of the United States, Sens. Daniel Inouye and Daniel Akaka announced yesterday.

Loui's nomination now goes before the full Senate for approval. If confirmed, she will serve for a term expiring on Jan. 20, 2015.

Loui is the founder and chair of OmniTrak Group Inc., an international marketing and research consultancy focused on Hawaii and Asia. She has consulted on market growth strategies in East Asia, South Asia, and the Association of Southeast Asian Nations.

"Pat Loui is an accomplished international businesswoman who will bring extensive experience in banking and government to this new role," Inoyye said. "Her skill sets will be of great value to the Export-Import Bank of the United States and I am confident she will serve with great distinction. I urge my colleagues to swiftly confirm her nomination."

Formerly president of the East West Center Association, Loui previously served as vice president of marketing, planning, and development at the Bank of Hawaii and as a United Nations Development Programme and UNESCO development planner in Asia.

The Export-Import Bank of the United States is the official export credit agency of the United States. Ex-Im Bank's mission is to assist in financing the export of U.S. goods and services to international markets. Ex-Im Bank enables U.S. companies to turn export opportunities into sales that help to maintain and create U.S. jobs and contribute to a stronger national economy.

Fila takes swing at golf with Titleist buy

The company behind Fila shoes and clothing is taking a swing at golf, forming a foursome to purchase the maker of Titleist golf balls and FootJoy shoes from liquor company Fortune Brands Inc.

Korean investors led by athletic company Fila Korea Ltd. and Mirae Asset Private Equity plan to buy Fortune's golf giant Acushnet Co. for $1.2 billion. The purchasing group also includes the National Pension Service of Korea and Korea Development Bank.

Titleist is the top-selling golf ball and a leader in golf clubs, while the unit's FootJoy brand is the leader in golf shoes and also makes golf gloves and jackets, Fortune said.

The deal is a major step in Fortune's plan to transform itself into a stand-alone liquor company. The company plans to separate its Beam liquor business and its home and security businesses into two companies later this year.

Failed banks up to 43

WASHINGTON » Regulators shut two banks in Georgia and a smaller bank in Washington state yesterday, lifting to 43 the number of U.S. bank failures this year in the wake of a gutted economy and mounds of soured loans. The pace of closures has slowed, however, as the economy improves and banks work their way through the bad debt.

Lagarde gains support to lead IMF

PARIS » France's frank, hard-working and chic finance minister, Christine Lagarde, emerged yesterday as Europe's likely choice to lead the International Monetary Fund.

The IMF insists the departure of former chief Dominique Strauss-Kahn has not hurt its day-to-day operations, but it is clearly under pressure to find a successor quickly to lead an organization that provides billions in loans to stabilize the world economy. A new chief would also draw attention away from the scandal surrounding Strauss-Kahn, who quit this week to face charges in New York that he tried to rape a hotel maid.

ON THE MOVE

» Hawaii Western Management Group, one of the state's largest insurance management services companies and administrator for HMAA, has hired Ronald Christopher Scott as executive assistant for its Taft-Hartley division. He was previously a senior account executive with Pacific Administrators and an account executive for Honolulu's American Benefit Plan Administrators.

» CBI Polymers, the manufacturer of DeconGel nuclear decontaminant, has appointed Galen Ho as chief executive officer. He has more than 35 years of defense and aerospace experience.

» The First Nations Oweesta Corp., located in Longmont, Colo., has awarded a $400,000 investment to the Council for Native Hawaiian Advancement, which is a nonprofit that provides community development services. The investment is dedicated to CNHA's community loan fund to expand its renewable energy loan program in which solar water heating systems have been installed in 150 native Hawaiian homes across Hawaii.

» Haseko has donated $25,000 to Ewa Makai Middle School to be used for educational purposes. Haseko has also sponsored a time capsule for the school to purchase, which will be filled with a DVD player and disc filled with stories about the new campus. Notes written by EMMS students and staff about hopes for the future will also be put into the capsule, which will be displayed in the school library until it is opened in 2025.






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