Ailing Hoku gets OK to borrow up to $10M

Cash-strapped Hoku Corp. said it has received approval to borrow up to $10 million from the Industrial and Commercial Bank of China to finish construction of its polysilicon plant in Idaho.

Hoku has until Thursday to borrow the funds, which must be paid back by January 2017 under the loan agreement.

Hoku is behind schedule and over budget on the $390 million Idaho plant. It also is in jeopardy of having its electricity cut off by Idaho Power, which says it is owed $1.9 million by Hoku.

On Monday, Hoku filed a complaint with the Idaho utility regulator accusing Idaho Power Co. of overcharging on its electric bills. Hoku executives say they have paid more than $11 million to Idaho Power since April 2011, even though the facility wasn’t even connected to the grid until November.

Nihipali named union builder of the year

Vincent Nihipali Sr. has been named 2012 Outstanding Union Builder of the Year by the Hawaii Regional Council of Carpenters. The award recognizes a union signatory contractor for exceptional contributions to union construction in Hawaii.

Nihipali is the owner of V & C Drywall Contractors Inc. but got his start in his father’s construction company, then joined the union in 1975 as a drywall apprentice. Seven years later he opened his own company.

Nihipali also serves as president of the Hawaii Wall & Ceiling Contractors of Hawaii Association, West regional director of the Association of the Wall & Ceiling Industry and co-chairman of the Hawaii Carpenters Apprenticeship and Training Trust Fund.

Ad professionals seek award nominations

Ad 2 Honolulu is accepting nominations for the 2012 Young Advertising Person of the Year.

Nominees need not be members of Ad 2, a nonprofit, professional enhancement organization for individuals in the advertising industry age 32 or younger, but they must have worked in the industry for at least three years. The club asks that submissions cite a nominee’s exceptional talents in ideas, writing, illustration, marketing, research, sales or other aspect of the profession. It is helpful if the nominee also dedicates time and service to nonprofit projects.

Past recipients include Tai Leong (2011), Tyson Yamada (2010) and Nicole Bonning (2009).

Nomination forms can be submitted via the club’s Facebook page or by contacting the club via email at ad2honolulu@ad2honolulu.org.

Mobi PCS forms alliance to speed up data

Honolulu-based wireless provider Mobi PCS said it has partnered with another local company to increase the speeds of its broadband data service.

Mobi will use patented technology developed by Bluestreak Broadband to boost speed and capacity available to Mobi’s smartphone and Hele Wireless Broadband customers, said Ed Kurzenski, Mobi PCS vice president and chief technical officer.

Mobi expects to implement Bluestreak’s Metro Ethernet service by mid-2012, Kurzenski said.

Bluestreak provides "ultra high-speed" networks to businesses, government agencies and telecommunications providers.

Home Depot to hire 70,000 for spring

ATLANTA » Home improvement retailer Home Depot Inc. said Thursday it will hire 70,000 seasonal workers for the spring, its biggest season.

The number is about the same as last year, company spokesman Stephen Holmes said.

Spring is the biggest season for home improvement projects, as homeowners work on projects for their homes, gardens and lawns. Last year about half of the seasonal workers were hired permanently as cashiers, sales, lot and garden staffers. Home Depot employs about 300,000 workers overall.

Home-goods sellers are facing cautious consumer spending and a prolonged weak housing market. They’ve had to adjust to fewer consumers making large-scale home renovations by cutting costs and improving services such as online shopping and customer service.

ON THE MOVE

New York Life Insurance Co. has hired:

» Cheyenne Handa, who spent four years as an educator.

» Jayna Matsukawa, who had been a catering manager at Carval Catering for six years.

» Preston Kala Patao, who worked as a Paradise Beverages sales representative for four years.

Alexander & Baldwin has appointed George M. Morvis Jr. as vice president of corporate development of the A&B Land Group.

First Hawaiian Bank Foundation has awarded a $70,000 grant to Hawaii Preparatory Academy. The grant will be used to purchase two buses, which will transport HPA students to off-campus activities.