Millions of cribs recalled over safety
WASHINGTON » More than 2 million cribs from Evenflo, Delta Enterprise Corp. and five other companies were recalled yesterday amid concerns that babies can suffocate, become trapped or fall from the cribs.
Most of the cribs were drop-sides, which have a side rail that moves up and down so parents can lift children from them more easily. That movable side, however, can malfunction or detach from the crib, creating a dangerous gap where babies’ heads can become trapped, leading to suffocation or strangulation.
The other companies involved in the recall were Child Craft, Jardine Enterprises, LaJobi, Million Dollar Baby and Simmons Juvenile Products.
The Consumer Product Safety Commission urged parents to stop using the cribs and contact the manufacturers for repair kits to immobilize the drop-side or information to make the cribs more secure.
Maui Land to repurchase notes
Maui Land & Pineapple Co. said it intends to pursue a rights offering for up to $40 million of its common stock in order to repurchase up to all of its outstanding senior secured convertible notes.
As of yesterday the company had agreed to purchase at least $27.5 million of the notes upon successful completion of the rights offering.
Shareholders will receive one nontransferable subscription right for each share of common stock owed as of the close of business on July 7. Each subscription right will entitle the shareholder to purchase a specified number of shares of common stock, which will be determined based upon the total number of outstanding shares of common stock on the record date.
A&B keeps dividend at 31.5 cents
Alexander & Baldwin Inc. said yesterday it was maintaining its quarterly dividend at 31.5 cents. It will be payable on Sept. 2 to shareholders of record as of the close of business on Aug. 5.
The payout equates to an annualized yield of 4 percent.
Mobi PCS expands to Kona
A new retail kiosk in Kona’s Lanihau Center marks the expansion of Mobi PCS to both sides of the Big Island. Its other retail location on the island is in Prince Kuhio Plaza.
The kiosk, fronting Longs Drugs, brings to 13 the number of company-owned retail locations in the state, though Mobi PCS is available at some 100 dealers statewide as well as 7-Eleven stores and full-service Longs Drugs locations.
Hawaii groups get grants to aid vets
Honolulu-based Network Enterprises Inc. has received a first-time $293,000 grant, and the Honolulu site of United States Veterans Initiative has been awarded $200,000 under the U.S. Department of Labor’s Homeless Veterans Reintegration Program.
Altogether, 97 grants totaling more than $24 million was awarded nationwide to provide about 14,000 veterans with job training to help them succeed in civilian careers.
"This administration is committed to ending homelessness," said U.S. Labor Secretary Hilda Solis. "Achieving that goal is crucial to restoring the strength of our economy and the right thing to do for our nation as a whole. These grants will help more than 14,000 homeless veterans across the country find meaningful employment, and they will help ensure that these remarkable individuals never face homelessness again."
ON THE MOVE
Verizon Wireless has promoted Bill Hozey to associate director of business sales from major account manager. He will lead the company’s sales teams and focus on business and government.
The American Diabetes Association has hired Leslie Lam as executive director. She was previously director of business development for Hawaii Life Flight, senior director for the American Heart Association as well as Mrs. America 2000.
Jeremy Sosner has returned to Ko Olina Resort and Marina as vice president of branding and marketing. He has 25 years of hospitality management experience and was previously vice president of marketing at Hualalai Resort as well as director of sales and marketing for Ihilani Resort & Spa and worked in executive positions at the Mauna Kea Resort, the Ritz-Carlton and Hyatt Regency Maui.
Prudential Locations has announced the top agent awards for May:
» Caroline Miller was presented "Newcomer of the Month" and "Salesperson of the Month."
» John Hayama, "Listor of the Month"
» Dolores Bediones, "Highest Producer of the Month"