Several of Hawaii’s top business leaders will look at the state of jobs here and meaningful careers during this month’s Downtown Forum on Thursday at the Anthology Marketing Group Theatre.
The panel includes Mitch D’Olier, chairman of the Harold Castle Foundation, Kaneohe Ranch Management Ltd.; Jack Suyderhoud, director of the Shidler College of Business M.B.A. program and a professor of business economics at the University of Hawaii at Manoa; Richard Wacker, president and CEO of American Savings Bank; and Susan Yamada, executive director of Pacific Asian Center for Entrepreneurship (PACE), Shidler College of Business at the University of Hawaii at Manoa.
The event, at 1003 Bishop St. on the eighth floor, begins at 11:30 a.m. with registration. The lunch program is set for noon to 1:30 p.m. Registration, which includes lunch, is available online by visiting thinktechhawaii.com. The cost is $30 for individuals, $20 for students and $35 for walk-ins. Seating is limited.
Parking is available in the Bishop Square Garage, neighboring buildings, municipal lots and on the street. Parking will not be validated.
Holiday sales fail to meet expectations
NEW YORK >> Holiday shoppers did not make retailers merry during this critical season: Overall sales in November and December were disappointing.
Sales rose 3 percent to about $626.14 billion, according to The National Retail Federation. That’s below the 3.7 percent gain the group had expected.
The group blamed the shortfall on unusually warm weather that led to discounts on cold-weather items. It also pointed out that stores don’t have the ability to raise prices in a still tough spending environment.
Chinese firm buys GE appliance business
BEIJING >> China’s Haier Group, the world’s biggest home appliance maker, is buying General Electric Co.’s appliance business for $5.4 billion to expand its U.S. and global presence.
The acquisition announced Friday comes as Haier tries to transform itself into a premium brand. GE is shifting emphasis from traditional businesses such as appliances, in which it has been a prominent presence for more than a century, to higher-technology areas such as medical equipment and clean energy.
U.S. retail sales dipped in December
WASHINGTON >> Americans tapered off from shopping toward the end of the holiday season, while lower gasoline prices cut into overall retail sales in December.
The Commerce Department said Friday that retail sales dipped a seasonally adjusted 0.1 percent last month to $448.1 billion after having climbed a solid 0.4 percent in November.
The report shows consumer tastes shifting toward restaurants and online shopping. The extra savings from falling gas costs have yet to fuel large spending gains in other retail categories. Still, some economists viewed the sales data as a positive reflection of the 2.9 million jobs added in 2015.
Citigroup net up as legal expenses fall
NEW YORK >> Citigroup said Friday that its profits jumped sharply in the fourth quarter, helped by lower legal and regulatory costs that hammered the bank in the fourth quarter of 2014.
The New York-based financial conglomerate had a profit of $3.34 billion in the three-month period ending in December, or $1.02 a share. That’s compared with a profit of $344 million, or 6 cents a share. The 2014 quarter was when Citigroup incurred roughly $3.5 billion in legal costs tied to settling several high-profile investigations, including allegations of currency trading and interest rate manipulation.
On the Move
Prince Resorts Hawaii has announced Samantha Collins as director of leisure sales for all three properties: Hawaii Prince Hotel Waikiki, Mauna Kea Beach Hotel and Hapuna Beach Prince Hotel. She has more than 10 years of hospitality experience, including serving as a director of leisure sales at Fairmont Orchid, Hawaii.
Four Seasons Resort Lanai has announced the following appointments:
>> Gloria Ah Sam has been named spa director. She previously worked at Halekulani and Abhasa Spa at the Royal Hawaiian Hotel as well as Ojai Valley Inn and Spa.
>> Kemar Durfield has been appointed chef de cuisine. He has more than 20 years’ experience in the hospitality and restaurant industries, including serving as chef de cuisine at the Halekulani and at the Grand Del Mar’s Addison Restaurant.
