Turtle Bay Resort forms foundation
Turtle Bay Resort has formed a charitable organization to channel contributions to community organizations.
The North Shore resort, which is pursuing a controversial expansion, announced Monday that it has created Turtle Bay Foundation to aggregate, enhance and oversee charitable contributions that it said totaled about $120,000 in 2011.
Fundraising events organized by the resort, which include the North Shore Turkey Trot, the Seafood Festival silent auction and Legends Charity Golf Tournament, will help support the foundation.
Toyota retakes global auto sales crown
DETROIT » Toyota has once again dethroned General Motors as the world’s top-selling automaker.
The Japanese company sold 9.7 million cars and trucks worldwide in 2012, and it’s still counting. GM sold 9.29 million. Both companies saw higher sales, but Toyota’s growth was far larger as it rolled out new versions of popular models like the Camry. GM executives promised sales growth this year, especially in the U.S. Both companies say publicly that they don’t care about who wins, but concede that the crown is an important morale booster for employees.
E-book reading on the rise among young
NEW YORK » E-books may finally be catching on with the toughest of customers: young people.
A report commissioned by children’s publisher Scholastic Inc. finds that 46 percent of respondents age 9-17 had read an e-book as of last year, compared with just 25 percent in 2010. And around half of those who have not read an e-book say they want to do so. But the appeal of paper remains: Around 80 percent of kids who read an e-book still read print books, according to Monday’s report.
While e-books are believed to comprise around 25 percent to 30 percent of total book sales, the number has been much lower among children.
Swatch in $1B deal for Harry Winston
GENEVA » Switzerland’s biggest watch maker, Swatch Group AG, will pay about $1 billion to buy Canada’s Harry Winston watch and jewelry brand, officials from both companies said Monday.
The Biel, Switzerland-based company agreed to pay $750 million to acquire the brand from Toronto-based Harry Winston Diamond Corp. and will also assume as much as $250 million in debt, a joint statement said.
The acquisition includes the Harry Winston production company in Geneva and more than 500 employees globally.
Oracle says it fixed flaw in Java software
LOS ANGELES » Oracle Corp. said Monday it has released a fix for the flaw in its Java software that raised an alarm from the U.S. Department of Homeland Security last week. Even after the patch was issued, the federal agency continued to recommend that users disable Java in their Web browsers.
"This and previous Java vulnerabilities have been widely targeted by attackers, and new Java vulnerabilities are likely to be discovered," DHS said Monday in an updated alert published on the website of its Computer Emergency Readiness Team. "To defend against this and future Java vulnerabilities, consider disabling Java in Web browsers until adequate updates are available."
The alert follows the department’s warning late Thursday. Java allows programs to run within websites and powers some advertising networks. Users who disable Java may not be able to see portions of websites that display real-time data such as stock prices, graphical menus, weather updates and ads.
Dell’s stock soars on report of buyout
ROUND ROCK, Texas » Dell’s stock soared 13 percent Monday on a report that the struggling personal computer maker is in talks to take the company private.
Citing unidentified people familiar with the situation, Bloomberg News said Dell has discussed a potential sale with at least two firms that specialize in buying companies that have fallen out of favor with investors. The report didn’t name the interested firms. Dell Inc., based in Round Rock, Texas, declined to comment.
JPMorgan told to fix oversight tied to loss
WASHINGTON » JPMorgan Chase & Co. has been ordered to take steps to correct poor risk management that led to a surprise trading loss last year of more than $6 billion.
Federal regulators also on Monday cited the bank for lapses in oversight that allowed the bank to be used for money laundering.
JPMorgan, the nation’s largest bank by assets, will not pay a fine under the agreements with the Federal Reserve and the U.S. Comptroller of the Currency, a Treasury Department agency. The bank promised to strengthen its policies and procedures to control risk and to screen customers to prevent money laundering.
Apple falls below $500
Apple shares fell below $500 intraday Monday for the first time since February. The drop came after The Wall Street Journal reported Apple cut its orders for iPhone 5 components due to weak demand.
The newspaper said first-quarter orders for iPhone 5 screens are half of what previously was planned. Apple’s stock ended off $18.55 to $501.75.
ON THE MOVE
Prudential Advantage Realty has announced the addition of Joseph Castaneda as Realtor associate. He was previously a data manager at L&V Enterprises. Castaneda’s experience includes working in finance, international business and customer service.
Bank of Hawaii has announced Nicholas Ondrejka is its senior vice president, applications manager. He has 16 years of experience in the financial service industry, including serving as a senior vice president and chief technology officer at Wells Fargo & Company in Salt Lake City, as well as working for JPMorgan Chase & Co.
The American Institute of Architects, Honolulu Chapter, has announced the following are members of its 2013 board of directors: Louis Fung, president; John Ida, vice president/president-elect; Geoffrey Paterson, secretary; and Carol Sakata, treasurer. At-large directors for 2013 are Mark Ayers, Phillip Camp, Wayne Goo, Chris Hong, Lorraine Minatoishi, Reid Mizue, Kristin Nakagawa and Cathi Schar. Shaun Roth will serve as Hawaii island section director, and Queenie Leung was elected as associate.
