Citigroup to pay $730 million to settle lawsuit
NEW YORK >> Citigroup has agreed to pay $730 million to settle a class-action lawsuit that claimed investors were misled by the bank’s disclosures when they purchased its debt and preferred stock.
The investors’ purchases were made from May 11, 2006, through Nov. 28, 2008.
Citigroup Inc. denied the allegations and said in a statement late Monday that it agreed to the settlement so it could get rid of further expenses and uncertainties that come along with drawn-out litigation.
Seattle native to head Kauai newspaper
Veteran journalist Bill Buley has been named editor-in-chief of The Garden Island, taking the reins of Kauai’s only daily newspaper, which recently came under new ownership.
Buley, a native of Seattle, has more than 25 years in community journalism, including the last 18 years as city editor of the Coeur d’Alene Press in Idaho.
"We are pleased to have someone with Bill’s extensive background and experience with community newspapers join The Garden Island," said Dennis Francis, president of Oahu Publications, which bought the Kauai newspaper from Lee Enterprises this year. "Bill’s dedication and passion for community news and developing local stories will serve the people of Kauai and The Garden Island very well."
The Garden Island, which publishes six days a week, has been serving Kauai since 1902.
"The Garden Island’s commitment to covering local news is admirable, and it is a true honor to have the opportunity to be part of a newspaper with such a long history," said Buley, who starts his new job April 8.
Oahu Publications also owns the Star-Advertiser, MidWeek, MidWeek Kauai, the Hawaii Army Weekly, Hawaii Marine, Ho‘okele, HILuxury and several community periodicals and in-room resort magazines.
Employers nominated for defense award
Seventeen Hawaii Guard and Reserve members nominated employers for the 2013 Secretary of Defense Employer Support Freedom Award.
The award is the Department of Defense’s highest recognition for employers of members of the Guard and Reserve.
Nominations were announced Tuesday by the Employer Support of the Guard and Reserve, a Department of Defense operational committee. The agency received 2,899 nominations nationwide and will give Freedom Awards to up to 15 employers this summer.
The Hawaii employers nominated are DS Information Systems Corp. of Aiea; Board of Water Supply of Honolulu; City and County of Honolulu, Department of Design and Construction, Civil Division, Construction Management Branch; FedEx of Honolulu; Hawaiian Lift Truck Inc.; Honolulu Police Department (multiple nominations); Kratos Defense & Security Solutions Inc.; Native Hawaiian Veterans LLC; Otis Elevator Co. of Honolulu; RCO Hawaii LLC; U.S. Postal Service; Defense Information Systems Agency Pacific, Joint Base Pearl Harbor-Hickam; Naval Facilities Engineering Command, Hawaii, Joint Base Pearl Harbor-Hickam; The Parker Group Inc. of Kekaha; and the Department of the Army, Schofield Barracks.
Honolulu Club manager plans new venture
The manager of the Honolulu Club, which is in a dispute with its landlord, sent a notice to members Monday giving details about a new club the manager plans to open in Kakaako soon.
"Many of you have seen the recent articles in the Honolulu Star-Advertiser, so you know that we have had some disagreement with the building owner," said Randy Otto, regional general manager for Los Angeles-based Meridian Sports Clubs California LLC.
The landlord, HNLC Inc., notified Honolulu Club members earlier this month that it intends to replace Meridian with a new manager when Meridian’s lease on the Ward Ave. club expires in May.
Otto told club members that Meridian will open a new club at the Koolani condominium in "late April or May." The Island Athletic Club & Spa will have a cafe and lounge area, steam rooms, saunas and Jacuzzis but no racquetball, tennis or swimming, Otto said.
Builders show confidence in recovery
WASHINGTON » U.S. builders started more homes in February and permits for future construction rose at the fastest pace in 41⁄2 years. The increases point to a housing recovery that is gaining strength.
The Commerce Department said Tuesday that builders broke ground on houses and apartments last month at a seasonally adjusted annual rate of 917,000. That’s up from 910,000 in January. And it’s the second-fastest pace since June 2008, behind December’s rate of 982,000.
Single-family home construction increased to an annual rate of 618,000, the most in 41⁄2 years. Apartment construction also ticked up, to 285,000.
On the Move
Compassion & Choices Hawaii has named:
>> Mary Steiner as campaign manager. She was previously a chief executive officer of the Outdoor Circle, where she worked from 1992 to 2012. Her experience includes working with the Center for Children and Families in New York and with Planned Parenthood in New Jersey.
>> Skye Morrison as volunteer coordinator and end-of-life clinical care coordinator. She was previously a medical social worker at Islands Hospice and the Queen’s Medical Center Emergency Department. Prior to working at Queen’s, Morrison was a child and family mental health therapist consultant to the state Department of Education and the Department of Health.
The Queen’s Medical Center has announced that Lois Han has been named 2012 Employee of the Year. She has been a nurse at Queen’s for 20 years and holds the title of charge nurse in the Surgical Intensive Care Unit in Queen Emma Tower 4-C. Han was chosen from 12 Employees of the Month out of a staff of more than 3,500.
