HawTel’s lenders extend $30 million loan
Hawaiian Telcom has extended its $30 million revolving credit facility for another four years, the company said Thursday.
The agreement with its lenders allows Hawaiian Telcom to borrow funds at any time until Oct. 3, 2015.
“We are very pleased with the execution of this transaction as it extends the maturity profile of our revolver and strengthens the overall liquidity position of the company,” said Eric Yeaman, Hawaiian Telcom’s president and chief executive officer.
Hawaiian Telcom reported profits in the first two quarters of this year after emerging from bankruptcy protection last fall. The company is negotiating a contract with its union workers to replace a labor agreement originally set to expire last month. The contract has been extended while talks continue.
Hawaiian Airlines traffic up in September
Traffic on Hawaiian Airlines rose 5 percent in September, but there were more empty seats as capacity outstripped traffic growth.
Passengers flew about 837.2 million miles, up 19.4 percent from 701.1 million miles in the prior-year period. But capacity increased 21.6 percent to 994.6 million available seat miles from 818.2 million available seat miles.
A seat mile is one seat flying one mile. Airlines increase capacity by adding flights, using bigger planes or flying longer distances. Average occupancy fell to 84.2 percent from 85.7 percent in September.
For the year to date, traffic climbed 2.9 percent, capacity increased 19.3 percent and average occupancy declined to 84.4 percent from 85.4 percent.
Hawaiian Airlines is a division of Hawaiian Holdings Inc.
35 employers to exhibit at Kauai job fair
Kauai County and WorkWise Kauai will sponsor the 10th annual Kauai Job Fair on Thursday.
About 35 employers have reserved booths for the event, scheduled for 9:30 a.m. to 12:30 p.m. at the Lihue Civic Center. Workshops on résumé writing and interviewing tips will be offered.
Among the businesses attending the fair are Aston Hotels and Resorts, Avis, Enterprise, Grand Hyatt Resort and Spa, Hawaii Pacific Health, HMS Host, Kauai Community Federal Credit Union and Kauai Veterans Memorial Hospital.
Visit www.workwisekauai.com.
Isle-based firm to design APEC displays
Honolulu-based Jon Duarte Design Group Inc. has been selected by the APEC 2011 Hawaii Host Committee to fabricate and install physical displays to be used during the course of APEC Hawaii 2011 Leaders’ Week.
Duarte Design will design free-standing and mobile displays that incorporate the conference’s four initiatives, including clean energy; sky, ocean and earth sciences; health and life sciences; and conference, exhibition and incentive travel.
The displays will communicate investment opportunities available in Hawaii, with the goal of strengthening Hawaii’s image as a place for business, said Peter Ho, host committee chairman.
More jobless out of work for over a year
WASHINGTON » For more Americans, being out of work has become a nearly permanent condition.
Nearly one-third of the unemployed — about 4.5 million people — have had no job for a year or more. That’s a record high. Many are older workers who have found it especially hard to find jobs. And economists say their prospects won’t brighten much even after the economy starts to strengthen and hiring picks up. Even if they can find a job, it will likely pay far less than their old one did.
The outlook is unlikely to improve today, when the government issues its monthly jobs report. Economists predict it will show that employers added a net 56,000 jobs in September.
Retailers report solid gains for September
September offered the latest sign that Americans will shop, but only when they think they’re getting a deal.
The International Council of Shopping Centers said Thursday that revenue rose 5.5 percent in September, with several retailers including Target, Limited Brands and Kohl’s posting strong gains as consumers snagged discounted merchandise.
The revenue increases, which beat Wall Street estimates, leave uncertainty about whether retailers will have to offer more bargains to lure consumers during the holiday shopping season. Retailers can make up to 40 percent of their annual revenue in November and December.
SHIP AHOY!
Today’s ship arrivals and departures: HONOLULU HARBOR
| Agent |
Vessel |
From |
ETA |
ETD |
Berth |
Destination |
| TNC |
CSC Cyanite |
Off Port Anchorage |
1 a.m. |
– |
51A |
– |
| MNC |
Mahimahi |
– |
– |
1 p.m. |
52A |
Oakland, Calif. |
|
ON THE MOVE
Royal State Insurance has hired Lynne Miura as account manager. She was previously a health and welfare consultant at Mellon Consulting, Hawaii region sales representative at MetLife and assistant vice president of employee benefit sales at Pacific Guardian Life.
Eric N. Milstead has joined the East-West Center as a visiting research fellow and diplomat-in-residence for one year. He is an IT manager at the U.S. State Department and was previously a management officer at the U.S. Consulate in Ho Chi Minh City, Vietnam.
The Latin Business Hawaii board of directors will honor the following on Oct. 13: David and Mari Smith, businesspersons of the year; Carol Beresiwsky, educator of the year; Jerome Ramos, entertainer of the year; and Ray Cruz, media advocate of the year.
Hawaii Computer Training and Solutions has announced the following: » Noil Buscaglia has been promoted to services engineer from services intern and demonstrated problem-solving and natural IT skills. » Alvin Marquez has joined the company as a technical instructor. For the past 12 months, Marquez was an instructor for the company on a contract basis.
TD Food Group has promoted Nicholas Dean to restaurant general manager from assistant manager in charge. Dean has been with the company for 10 years.
