Executive Chef opens store in Kailua
Executive Chef has opened its second store at the Kailua Town Center, soon to be anchored by Whole Foods Market.
The retailer is leasing 4,559 square feet of space in the project at the corner of Kailua Road and Hinano Way. The new store features cookware, cutlery and gadgets.
"The opening of Executive Chef launches what will be a vibrant mix of retailers at the third phase of Kailua Town Center," said Kimo Steinwascher, vice president of leasing and development for landowner Kaneohe Ranch.
The retail shops at Kailua Town Center Phase 3 occupy 32,000 square feet and include newly opened clothing boutique Fighting Eel. Whole Foods is expected to open next spring.
Burger King also charges for kids toys
SAN FRANCISCO » Burger King has joined McDonald’s in charging for kids meal toys to comply with San Francisco’s ban.
A new city law that took effect Thursday bans free toys with kids meals that are high in fat, sugar and salt. It’s designed to encourage nutritional fast food for youngsters.
McDonald’s and Burger King decided to charge a dime for the trinkets.
McDonald’s is using the toy money to build a Ronald McDonald House for families of young patients at the new University of California, San Francisco, Medical Center at Mission Bay.
Burger King spokeswoman Kristen Hauser told the San Francisco Chronicle that Burger King hasn’t decided what to do with the toy proceeds.
GM willing to buy back Volts from owners
NEW YORK » General Motors will buy back Chevrolet Volts from any owner who is afraid the electric cars will catch fire, the company’s CEO said Thursday.
In an interview with The Associated Press, CEO Dan Akerson insisted that the cars are safe, but said the company will purchase the Volts because it wants to keep customers happy. Three fires have started in Volts after side-impact crash tests done by the federal government.
Akerson said that if necessary, GM will recall the more than 6,000 Volts now on the road in the U.S. and repair them once the company and federal safety regulators figure out what caused the fires.
The fires happened seven days to three weeks after tests performed by the National Highway Traffic Safety Administration. GM has said there’s no threat of fires immediately after crashes.
Still, NHTSA has begun an investigation of the fires and has asked other companies that make electric cars for battery testing data. NHTSA said safety tests haven’t raised concerns about electric vehicles other than the Volt.
Massachusetts sues banks over foreclosures
NEW YORK » Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents, potentially undermining negotiations between lenders and state prosecutors across the nation over the same issue.
The lawsuit named Bank of America Corp., JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and GMAC. It was filed in Massachusetts by Attorney General Martha Coakley.
The lawsuit also named Mortgage Electronic Registration System Inc. and its parent company as defendants. The company, a mortgage registry database, has been accused of shoddy record-keeping in numerous foreclosure proceedings.
The complaint claims the banks violated Massachusetts law with "unlawful and deceptive" conduct including unlawful foreclosures, false documentation, robo-signing and deceptive practices related to loan modifications.
H&R Block loan claims jump to $483M
NEW YORK » A spike in claims related to bad loans written by its now-shuttered subprime mortgage unit shouldn’t create any new liability for H&R Block Inc., company executives said Thursday after releasing results that showed a wider loss for its fiscal second quarter.
The nation’s largest tax preparer said claims from investors in securities backed by those mortgages, and from insurers who covered those investments, shot up to $483 million during the quarter, from $21 million a year ago.
Block said it closed its previously announced sale of its RSM McGladrey business consulting unit on Wednesday. And it booked charges for the previously planned shutdown of its ExpressTax unit.
The resulting shifting of funds boosted Block’s loss to $141.7 million, or 47 cents a share, for the three months ended Oct. 31. A year ago it posted a loss of $109 million, or 36 cents a share. Block typically posts a second-quarter loss because most of its revenue comes during the U.S. tax season.
ON THE MOVE
Allied Builders System has hired Emet Domingo Jr. as executive project manager. He has 23 years of construction experience, including a term as director of construction for Castle & Cooke Homes Hawaii as well as employment with M.A. Mortenson Co. and the University of Hawaii.
The Howard Hughes Corp. has hired Douglas "Umi" Kai as associate general manager for Ward Centers. His experience includes working in commercial retail/build-out construction and commercial real estate lending.
Aqua Hotels & Resorts has announced the following:
» Brian "Kovy" Kovaloff has been named hotel manager of Pagoda Hotel. He has been with Aqua since 2008.
» Karen Yonemoto is now sales manager for Pagoda and White Sands hotels. Prior to joining Aqua, she was a sales manager at Aloha Holidays.
TruTag Technologies has announced the appointment of Kent Mansfield as president. His experience includes serving as an executive leader with U.K.-based Smart Holograms Ltd.
