Zippy’s scales back Waimalu operations

Zippy’s Restaurants has reopened its Waimalu location under a new business model and name, Zippy’s Express.

President Paul Yokota cited the “changing landscape of the area” as the reason behind the new concept, which serves top-selling Zippy’s dishes and a limited selection of Napoleon’s Bakery items.

“We want to test a concept that would take care of our customers’ tastes, and at the same time make service more efficient,” Yokota said in a statement.

Zippy’s Express in the Waimalu Shopping Center is open from 8 a.m. to 9 p.m. Sunday through Thursday, and from 8 a.m. to 10 p.m. Friday and Saturday.

BofA board under fire over CEO’s dual role

Momentum is building toward forcing Bank of America to undo its decision last year to name the bank’s chief executive, Brian T. Moynihan, as chairman as well.

Opposition to the board’s decision to once again combine the positions is coming from both big public pension funds and influential shareholder advisory firms that counsel investors on how to vote on corporate issues.

Institutional Shareholder Services on Friday became the second proxy advisory firm to recommend that shareholders vote against a board proposal that would let Moynihan, 55, keep the title of chairman. The recommendation was announced in a note.

The move by the board in October angered some shareholders, who have said the positions needed to remain separate to ensure better management. The chairman and chief executive jobs had been separate at the bank since 2009, until the board decided on its own initiative to combine them.

Miss America scholarship tally: $6 million

ATLANTIC CITY, N.J. >> The Miss America Organization says it handed out nearly $6 million in cash or free tuition to contestants last year in its scholarship awards program.

Figures released Friday represent a change in the way the pageant describes its scholarships.

In the past, the group said it made up to $45 million available in annual scholarships. But that figure didn’t represent money actually paid out or used by contestants.

Miss America and its state organizations gave more than $5.9 million in cash awards or tuition waivers to contestants across the country last year.

In 2014, more than 350 colleges and universities across the country awarded in-kind tuition waivers to Miss America contestants.

The revised reporting comes nearly a year after political commentator and comedian John Oliver questioned the group’s scholarship payout claims.

The Miss America Organization, which has long described itself as the nation’s largest provider of scholarships to young women, said that in 2014 it paid out $416,500 in national cash scholarships; $106,000 in awards for academic and community service achievements; $2.1 million in state cash scholarships; $651,952 in state tuition waivers; $1.9 million in local cash scholarships; and $677,898 in local tuition waivers.

BlackBerry will buy its onetime rival

OTTAWA, Ontario >> As part of its shift away from phones toward software, BlackBerry announced Friday that it would buy a rival, Good Technology, for $425 million.

Good was an early competitor to BlackBerry in the market for software used by corporations and governments to manage and increase security on employee smartphones. John S. Chen, BlackBerry’s chief executive, has made dominating that business a key component of rebuilding the company.

While the purchase will increase BlackBerry’s customer base, it also unites two companies with an unusually testy relationship. In 2004, Good Technology settled a lawsuit over wireless email patents by agreeing to pay licensing fees and an undisclosed lump sum to BlackBerry.

Since then, the two companies have repeatedly denigrated each other’s products in their marketing efforts.

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