Podiatric meeting to boost isle economy

More than 2,000 podiatrists and medical specialists are expected to attend the American Podiatric Medical Association’s annual scientific meeting this week at the Hawai‘i Convention Center.

The conference is expected to generate an estimated $9.4 million in visitor spending, $916,000 in state tax revenue and more than 16,000 booked room nights.

The convention from Thursday through Sunday will offer new research and clinical knowledge in podiatric medicine. The organization last held its conference in Hawaii in 2008.

This year’s schedule will include sessions on the impact of marathon running, use of stem cells to treat diabetic wounds, general pediatric and sports medicine, and a luau reception at the Great Lawn of the Hilton Hawaiian Village Waikiki Beach Resort.

The group comprises more than 12,000 podiatrists.

New Lanai health center gets state funds

Gov. Neil Abercrombie has released $500,000 in capital improvement grant funds to the Lana‘i Community Health Center to build a new facility to meet the needs of the rural island population.

The center serves 1,190 patients, approximately 40 percent of the Lanai’s estimated population of 3,100 residents.

The new facility in the heart of Lanai City will be nearly five times larger than the existing clinic. It will include nine exam rooms (compared with the existing three), a procedure room, dental X-ray, general lab facilities and conference and administrative offices, as well as a community activity room.

The nonprofit center provides medical and dental services for low- to moderate-income residents and the uninsured.

Investor expands Hualalai Resort acreage

An unnamed private investor and developer has added 6.6 acres to the five previously purchased lots at Hualalai Resort, a luxury Hawaii island resort area, paving the way for construction of 17 more luxury homes. The investor and developer, a member of Hualalai Resort, was not identified in the company statement announcing the transaction.

Separately, another investor, Vancouver, British Columbia-based Ecoasis, already has begun construction on the first four lots it purchased in Hualalai. The total of 21 planned homes will be priced from $5 million to $9 million, with sales expected to begin later this year, according to officials with Hualalai Resort and Hualalai Realty.

Sales of residential estates in Hualalai have exceeded $101 million in the first six months of the year, with an average price of $9.7 million, $2 million higher than in 2013.

Rethink Swiss move, Walgreen is urged

Illinois Sen. Dick Durbin on Tuesday urged Walgreen Co. to reconsider a possible move of its headquarters to Switzerland to lower its U.S. tax bill. In a letter to Walgreen Chief Executive Greg­ory Wasson, Durbin said the company could face a backlash from its customers.

"I believe you will find that your customers are deeply patriotic and will not support Walgreen’s decision to turn its back on the United States," Durbin wrote. "Nearly all of your $2.5 billion in profits earned last year were from sales to U.S. taxpaying customers."

The senator ended his letter with a twist on Walgreen’s advertising campaign: "Is ‘the corner of happy and healthy’ somewhere in the Swiss Alps?"

The letter increases political pressure on the company as it contemplates leaving Illinois as part of its plan to buy the rest of Alliance Boots, which operates a drugstore chain in the United Kingdom and is based in Switzerland. The controversial move, known as an inversion, could save the company millions of dollars a year in income taxes because Switzerland’s tax rates are lower than U.S. rates.

Walgreen paid $1.4 billion in state and federal income taxes in its last fiscal year.

U.S. home sales rose 2.6 percent in June

WASHINGTON » Sales of previously owned homes rose in June for a third straight month, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.

The National Association of Realtors said Tuesday that sales of existing homes increased 2.6 percent to a seasonally adjusted annual rate of 5.04 million homes. It marked the first time since October that sales were above the 5 million mark.

ON THE MOVE

Hawaii Pacific University has announced: 

» Joachim P. Cox has been elected chairman of HPU’s board of trustees. He is a founding partner of Hono­lulu law firm Cox Fricke and has been a HPU trustee since 2011 as well as a member of the Oceanic Institute Board of Trustees. Cox is an experienced commercial litigator and was previously a partner at Goodsill Anderson Quinn & Stifel for 10 years.

» Karen Huffman has joined the university’s board of trustees. She is president of QSR Hawaii and former franchisee/owner-operator of the McDonald’s restaurants in Aina Haina, Kahala and Koko Marina. Huffman was named small-business person of the year by Small Business Hawaii, which recognized her community and charitable work as well her entrepreneurial success.

RADIO RATINGS

RATINGS GAME
Honolulu radio ratings for Spring 2014, based on a Nielsen Audio survey taken March 27 to June 18. Stations are ranked according to share. A share is the percent of the listening audience (ages 12 and older) tuned into that station. Honolulu is the No. 63 market in the U.S.