The developer of Ward Village plans to kick off construction of a condominium tower largely filled with million-dollar units along with a Whole Foods store a bit sooner than previously expected.
Howard Hughes Corp. has scheduled a Thursday groundbreaking ceremony for the 38-story tower named Ae‘o.
Hughes Corp. previously expected to break ground in March on the $390 million project with 466 condos.
The company said in November that it had sold 167 of the units since July. Ae‘o prices range from $405,016 for a studio with 409 square feet of living space to $2 million for a three-bedroom unit with 1,331 square feet of living space. The average is about $1 million and 836 square feet.
Ae‘o is being developed on a site previously occupied by Office Depot and Nordstrom Rack stores as part of a master plan than envisions up to 22 towers on 60 acres formerly known as Ward Centers and re-branded as Ward Village.
TV firms might delay streaming new shows
NEW YORK >> The Golden Age of Online Television may be in peril.
Streaming TV has gotten popular through online services such as Netflix and Hulu. But some television companies are now balking at giving them timely access to shows and are considering holding back certain shows.
The big worry: Making streaming TV too pleasant might encourage viewers to cut back or drop their cable service. Cable and satellite companies now pay TV networks billions of dollars a year to carry their channels. In turn, TV production companies make a lot from licensing fees paid by the networks.
Chipotle urges workers to stay home if sick
NEW YORK >> Chipotle kept all its U.S. locations shuttered early Monday as executives went over new food safety procedures.
The presentation for workers comes after Chipotle has been slammed by a series of food scares. Co-CEO Monty Moran noted two of the four incidents were the result of norovirus, which is typically caused by sick workers. He urged workers to stay home if they feel ill.
Chipotle Mexican Grill Inc. postponed opening its restaurants for four hours to 3 p.m. local time Monday.
Credit Suisse CEO proposes bonus cut
GENEVA >> The new CEO of Credit Suisse has proposed that its board make a “significant” cut in his bonus after the Swiss bank posted disappointing earnings last week and announced 4,000 job cuts.
The bank Monday confirmed that Tidjane Thiam proposed taking the biggest cut among the bank’s management team because he said he could not “demand sacrifices from others and not make any myself.”
The bank said it is “not giving numbers at the moment” about the size of the cut in the bonus.
Apollo Education going private in $1.1B deal
NEW YORK >> Apollo Education is being taken private in a $1.1 billion deal by a consortium led by private investment firm The Vistria Group.
The announcement comes about a month after the owner of the University of Phoenix and Western International University signaled that it may be looking for a buyer. Apollo Education has had several lackluster quarters as enrollments at its for-profit schools fell amid increased government scrutiny of the industry.
Shareholders of Apollo Education Group Inc. will receive $9.50 per share, a 37 percent premium to the Phoenix-based company’s $6.95 Friday closing price.
Fiat Chrysler shifters confusing, feds say
DETROIT >> Electronic gear shifters on some newer Fiat Chrysler SUVs and cars are so confusing that drivers have exited the vehicles with the engines running and while they are still in gear, causing crashes and serious injuries.
The National Highway Traffic Safety Administration has doubled the number of vehicles involved in an investigation of the problem, but it stopped short of seeking a recall. The agency found more than 100 crashes and over a dozen injuries, mostly in Jeep Grand Cherokees.
Quality control chief leaving Volkswagen
FRANKFURT, Germany >> Volkswagen says its quality control chief is leaving the company.
Frank Tuch is being replaced as the company deals with a scandal over diesel vehicles equipped to cheat on emissions testing. He is being succeeded by Hans-Joachim Rothenpieler, head of technical development at the company’s commercial vehicles brand.
A Volkswagen statement Monday says Tuch is “leaving the company at his own request.”
On the Move
Servco Automotive has hired David Bareng as assistant director of the Vehicle Processing Center, the pre-delivery prep department for Lexus, Toyota and Scion vehicles in Hawaii. Bareng has more than 20 years of operations management experience and was previously director of operations for Hawaii Stevedores.
Kaiser Permanente has hired physicians for the Kaiser Permanente Lihue Clinic on Kauai, which will open Thursday. The following two new doctors will provide primary care to adults and children on the Garden Island:
>> Dr. Kapua Medeiros currently serves as a Kauai representative for the Hawaii Academy of Family Physicians and a clinical faculty member at the University of Hawaii John A. Burns School of Medicine. Prior to joining Kaiser Permanente, she was a physician at Hoola Lahui Hawaii, Kauai Community Health Center.
>> Dr. Bridget Collins has practiced as a family medicine physician for more than 20 years and previously served as a medical director of long-term and acute care units at Samuel Mahelona Memorial Hospital since 2010.
