Business briefs
Advertiser Staff
HMSA increases losses for 2002
The Hawaii Medical Services Association's annual net operating loss for 2002 has been increased from $34.9 million to $40 million, HMSA officials said yesterday.
Steve Van Ribbink, HMSA senior vice president and CFO, announced the higher loss at yesterday's 65th annual membership meeting.
The $34.9 million figure HMSA reported in February was the worst annual loss ever for Hawai'i's largest health insurance company. Yesterday, HMSA officials said the $40 million figure was the result of changing the way HMSA reported an estimated tax credit — from $11.8 million to $6.2 million.
The important numbers remain unchanged from the February filing, said Cliff Cisco, HMSA senior vice president.
HMSA had a operating loss of $49.3 million for 2002 and investment income of $2.6 million.
Brewery to open O'ahu eatery
A growing brewery on the Big Island plans to expand to O'ahu with a restaurant at Koko Marina Shopping Center in Hawai'i Kai.
Kona Brewing Co., which was established in a warehouse in 1994 and operates a connected restaurant, said it will open a 275-seat restaurant at the East Honolulu center overlooking the Hawai'i Kai marina in late September.
The restaurant won't brew beer on site, but will carry the brewery's selection of about 10 beers, a few of which can be found at restaurants and retail outlets in Hawai'i, the Mainland and Japan.
"We took a long, hard look at the demographics of the Hawai'i Kai area, and we think it's right where we belong," said Mattson Davis, Kona Brewing manager partner.
Luxury retailer plans 3rd store
Luxury fashion retailer Hermes Paris will open a third store in Hawai'i as part of a worldwide expansion plan.
The store is scheduled to open June 4 on the main level 'ewa of the Ala Moana Center's center court near other luxury retailers in a 2,100-square-foot space once occupied by a Nordstrom men's shoe store.
The company operates stores at Royal Hawaiian Shopping Center and in the duty-free section of DFS-Hawai'i's Waikiki store.
