HEI chief Lau earned $5.6M in 2014

Hawaiian Electric Industries Inc. CEO Connie Lau’s total compensation jumped nearly 50 percent in 2014 over the previous year.

Lau’s total package was worth $5.6 million, up 49.2 percent over $3.8 million in 2013, according to an HEI filing Thursday with the U.S. Securities and Exchange Commission. Lau received a base salary of $815,000, stock awards of $1.9 million, nonequity incentive plan compensation of $984,442 and $2 million for a change in pension value and nonqualified deferred compensation earnings.

In 2014, Lau negotiated the sale of HEI, the parent company for the state’s three major utilities, to Florida-based NextEra Energy Inc. for $4.3 billion.

HEI and NextEra filed a joint application for the deal in January to the state Public Utilities Commission.

If the sale is approved by the PUC, Lau will be paid an estimated $10.66 million in compensation. Lau would be paid an estimated $6.85 million in cash, $3.03 million in stock, $591,000 toward a pension and $193,000 in benefits, according to NextEra’s SEC filing.

Kaiser computer glitch affects 500 members

Kaiser Permanente Hawaii said a computer glitch this month caused problems for 500 members enrolled in its automatic payment system for monthly premiums.

The state’s largest health maintenance organization said some of its members enrolled in autopay were not drafted as scheduled in January and February. The problem has been fixed, and payments will be drafted in February, the HMO said. Kaiser said it has contacted affected members, letting them know they also have the option to mail payment, pay online or via phone.

Pearlridge Center changes ownership

The owner of Pearlridge Center has entered a joint venture for ownership and operation of the mall.

WP Glimcher, owner of Pearlridge and four other U.S. shopping malls, announced its joint venture with O’Connor Mall Partners LP on Thursday.

In the deal valued at its $1.63 billion, Glimcher will retain 51 percent interest, while O’Connor will assume 49 percent interest in the malls including Pearlridge; The Mall at Johnson City in Johnson City, Tenn.; Polaris Fashion Place in Columbus, Ohio; Scottsdale Quarter in Scottsdale, Ariz.; and Town Center Plaza and the adjacent Town Center Crossing in Leawood, Kan.

Glimcher will continue to lease and manage the properties, according to an announcement.

UH forecasts no carbon footprint by 2050

The University of Hawaii announced Thursday it plans to have a net zero carbon footprint by 2050. The university set specific targets in five-year increments for reducing its energy use while increasing the use of renewable energy, with the overall goal of becoming carbon neutral by 2050.

Court OKs class action in tobacco lawsuit

The Arkansas Supreme Court says a lawsuit against tobacco giant Philip Morris USA can proceed under class-action status.

The lawsuit seeks refunds on every pack of Marlboro Lights sold in Arkansas from 1971 to 2010. The plaintiffs claim Philip Morris, which is part of the Altria Group, deceived smokers about health risks.

The justices’ 6-1 decision was released Thursday.

Philip Morris said courts elsewhere have rejected class-action status for similar claims.

The size of the class isn’t known, but Pulaski County Circuit Judge Tim Fox warned in 2013 that it could be in the millions.

On The Move

» The Professional Women’s Network has announced the following new officers and board of directors for 2015: Linda Virtudes, president; Maureen Shannon, vice president; Allyson Riter, secretary; and Karin Knudsen, treasurer. The directors are Audrey Hutton, arrangements; Misa Yew, membership; Michelle Ichikawa, networking events; Kamille Madeira, publicity/social media; Jeannie Shaw, scholarship; Amber Ricci, spa day; Sharon Mujtabaa, past-president advisor; and Carol Williams, executive director.

» The John A. Burns School of Medicine at the University of Hawaii has announced that Dr. Danny M. Takanishi Jr. has been appointed chairman of the Gross Anatomy and Embryology Test Material Development Committee of the United States Medical Licensing Examination Program, which conducts the national licensing test for people who want to be physicians. Takanishi is a tenured professor of surgery and program director for the General Surgery Residency Program at the John A. Burns School of Medicine at UH Manoa.

Ship Ahoy!

Today’s ship arrivals and departures: