Waitress reclaims $12,000 tip after dispute
MOORHEAD, Minn. >> Authorities have decided to return a $12,000 tip to a Minnesota waitress that police believed was drug money. Stacy Knutson of Moorhead says a customer told her she could keep a takeout container she left behind at the Fryn’ Pan restaurant. The box turned out to contain $12,000 in bills in various denominations.
Police initially told her she could keep the money if no one claimed it, but later said it was part of a drug investigation.
After the case drew national attention, Assistant Clay County Attorney Michelle Lawson said the money could not be tied to a criminal investigation, and that Knutson would get a check.
‘Iolani School teams win economics titles
Two high school teams from ‘Iolani School claimed division titles in the 2012 Island Insurance Companies Economics Challenge.
Reigning national champion Iolani claimed the Adam Smith division title for the 14th consecutive year. Iolani will represent Hawaii in a regional competition with regional winners moving on to the national finals May 19-20 in New York.
The winners of the Adam Smith division were ‘Iolani students Connor Buckland, Stratford Goto, Aaron Nojima, Kirsten Peterson and Steven Yee. Winners for the David Ricardo division were ‘Iolani students Jack Gregory, Kenneth Lee, Evan Lum, Shane Hayakawa and Ross Villiger.
The event was hosted Wednesday by the Hawaii Council on Economic Education at the University of Hawaii Campus Center Ballroom and featured nearly 175 students from Hawaii private and public high schools.
During initial rounds of the competition, students tackled written tests of their economic understanding and reasoning ability. The final rounds of the Economics Challenge involved a "first-to-the-buzzer" lightning-fast "Jeopardy Style" format as teams answered questions on complex economic concepts and theories involving micro- and macro-economics, international economics, and current events.
Free clinic offers tips on basic car care
The public is invited to register for a free car-care clinic by AAA Hawaii, Masaki’s Auto Repair and NAPA Auto Care from 8 a.m. to noon on April 28.
While free, registration is required by calling Masaki’s at 943-1550 or via email at fvision@hawaiiantel.net, before 5 p.m. April 21. The clinic will take place at Masaki’s at 2211 S. Beretania St. and will include demonstrations of oil changes, tire checks, battery tests and brake inspections to help motorists with basic car care. Event sponsors will provide refreshments and give away prizes.
Car and school loans drive borrowing boom
WASHINGTON » Americans took out more loans to buy cars and attend school in February but used their credit cards less frequently for the second straight month.
The Federal Reserve said Friday that consumers increased borrowing by $8.7 billion, the sixth straight monthly increase. The jump in borrowing was driven by a $11 billion increase in the category that mostly measures demand for auto and student loans. Borrowing on credit cards fell by $2 billion after a $3 billion decline in January.
Total consumer borrowing rose to seasonally adjusted $2.52 trillion. That’s nearly at pre-recession levels and up from a post-recession low point of $2.39 trillion reached in September 2010. Borrowing had tumbled for more than two years during and immediately after the recession.
A rise in borrowing could suggest that consumers are feeling more confident about the economy.
Bailed-out firm executives told to cut pay
WASHINGTON » Top executives at three companies bailed out by U.S. taxpayers during the 2008 financial crisis were ordered to take pay cuts by the federal government.
The Treasury Department says nearly 70 executives at American International Group Inc., Ally Financial Inc. and General Motors Co. had their annual compensation reduced by 10 percent. The CEOs of each company had their pay frozen at 2011 levels. All three companies have yet to repay what they received from the $700 billion bailout and therefore are subject to pay cuts.
Wendy’s CEO earned $4.6M in 4 months
NEW YORK » Wendy’s gave its new CEO a pay package worth $4.6 million for the last four months of 2011.
Emil Brolick was hired last September after Wendy’s ended its failed marriage with fellow fast-food chain Arby’s. The 63-year-old Brolick has been on a mission to reinvent Wendy’s as a higher-end burger chain by focusing on quality ingredients, top-tier employees and remodeled restaurants.
Brolick’s compensation for the last four months of 2011 included salary of $338,462, a bonus of $500,000, an incentive-based bonus of $533,026 and stock and option awards worth $3.2 million, according to a filing Friday with the Securities and Exchange Commission.
Kodak pursues OK for $13.5M in bonuses
BUFFALO, N.Y. » Eastman Kodak Co. is seeking permission to pay about 300 executives and other employees a total of $13.5 million in bonuses to persuade them to stay with the company as it reorganizes under bankruptcy protection.
The Rochester-based photography company said the targeted employees have knowledge and skills critical to help the business emerge from Chapter 11 and would be difficult to replace if they left to pursue other offers.
On the Move
The Queen’s Medical Center has announced Virginia Ahuna is 2011 Employee of the Year. She has been a Queen’s Medical Center nurse for 40 years and is currently an RN case manager with Queen’s Community Based Programs, Foster Family.
St. Francis Healthcare Foundation of Hawaii has received two one-year grants totaling $115,000 from the May Templeton Hopper Fund of the Hawaii Community Foundation. The funds will support St. Francis Health Services for Senior Citizens and the Sister Maureen Intergenerational Learning Environment, which provides assistance to older adults age 65 and older.
Aqua Hotels & Resorts has announced the following management appointments and promotions: Ron Kikumoto, general manager of Queen Kapiolani Hotel; Tim Clark, general manager of Aqua Aloha Surf Waikiki; May Cabauatan, general manager of Best Western Plus Coconut Waikiki; Kathy Gunderson to hotel manager from guest services manager at Aqua Waikiki Wave; Paul Dun to hotel manager at White Sands Hotel from guest services manager at the Aqua Island Colony; Kalei Lyman, manager of special projects for Aqua Hotel & Resorts; and Joshua Gahret, guest services manager for Aqua Lotus Honolulu.
