honoluluadvertiser.com

Sponsored by:

Comment, blog & share photos

Log in | Become a member
The Honolulu Advertiser

Posted on: Friday, August 22, 2003

Campbell Estate to cut 32 positions

By Dan Nakaso
Advertiser Staff Writer

The Estate of James Campbell plans to eliminate approximately 32 of its 100 positions in October as part of its transition from a trust into a real estate operation company, according to a filing with the state Department of Labor.

The reorganization will begin on Oct. 24 or later, estate officials said in their filing.

The Campbell Estate is Hawai'i's second-wealthiest private trust, with 70,700 acres on O'ahu, Maui and the Big Island. But the estate will terminate in 2007 and the estate's heirs will divide $2.3 billion in assets.

"The estate of James Campbell is beginning the transition from a private trust to a real estate operating company when the trust terminates in 2007," estate officials said in a statement. "Part of the transition includes the elimination of a number of positions. This is a result of planned operational and structural changes to our organization as we prepare for the future and will enhance our ability to manage our assets and serve our tenants and the community at large."

In December, the state Probate Court approved a plan to establish a limited liability company called the James Campbell Co. LLC, which will carry on estate business beginning in January 2007.

"All leases and contracts with the estate will continue to be honored," the estate said in its statement.

The estate was founded in 1900 under the will of James Campbell, a Scottish carpenter who became one of the Islands' largest landowners, with much of the property centered around Kapolei.

Campbell arrived in Hawai'i aboard a whaling ship in 1850 at the age of 24 and 10 years later established the Pioneer Mill sugar company on Maui, which formed the basis for his fortune.

Campbell High School in 'Ewa Beach and Campbell Industrial Park in Kapolei bear his name.