BUSINESS BRIEFS
ERS only bidder for golf courses

Advertiser Staff

The state Employees Retirement System was the only bidder for two Royal Ka'anapali golf courses at a foreclosure auction yesterday, using its $60 million mortgage on the property as a credit bid.

The 18-hole courses, at Ka'anapali Beach Resort on Maui, are being acquired from Amfac Hawai'i, which defaulted on pension fund loans secured by the property.

The pension fund is expected to take ownership of the property sometime in August or September. Pension fund representatives said the ERS will assess how the courses fit into its investment portfolio and will continue to operate both courses.

New Eagle Cafe reopens July 2

New Eagle Cafe, which closed in May expecting to move to a new site, instead will reopen Wednesday at its old-but-remodeled location at Nimitz Center near Costco and Home Depot.

The restaurant has been well-known as a family business since the Teruyas took charge of its downtown location in the 1960s.

Lingle pushes tech conference

Gov. Linda Lingle wants the Sony Corp. to help put together a technology conference in conjunction with the Sony Open golf tournament early next year.

Lingle told reporters yesterday that visiting Sony executives at their offices is one of her scheduled stops when she visits Japan for about a week at the beginning of July.

Talks have begun about such an event, she said. "It's a little premature to talk specifically about what the conference might look at," she said.