Business briefs
Advertiser Staff
Verizon Hawaii deal reported
The Washington, D.C.-based Carlyle Group is nearing an agreement to acquire the Hawai'i telephone operations of Verizon Communications Inc. and could sign a deal as early as next week, The Wall Street Journal reported. Analysts and bankers have speculated that the 715,000 land lines around Hawai'i could be valued at about $1.5 billion.
Order against Jackie's holds
Federal Judge David Ezra extended a temporary restraining order against Jackie's, the travel company that canceled thousands of charter tickets to Las Vegas, for another 10 days, said Ronald Au, attorney for Jackie's.
The restraining order freezes the company's client trust account except to pay for refund checks and operational expenses. World Airways Inc. said Jackie's owes it $2.7 million for chartered services from March 4 through May 2. Jackie's disputes the amount.
Gas workers ratify contract
Teamsters at The Gas Company voted to ratify a four-year-contract yesterday that gives the unionized workers a 50-cent-per-hour raise for the next four years.
Barnwell earnings up
Barnwell Industries Inc. yesterday said second quarter earnings improved to $3.74 million, or $2.83 a share, versus a profit of $300,000, or 23 cents a share in the year-ago quarter.
The Honolulu-based company, which develops property on the Big Island and invests in Canadian oil production, said the improved results came on increased earnings from its land investment business.
Waipahu mill site bought
The 15-acre site of the former Waipahu Sugar Mill has been purchased for $5.3 million by a newly formed Honolulu company called Sugar Mill Glen LLC, which has not yet decided what to do with the property.
Airline allowed to withhold data
A bankruptcy judge ruled yesterday that Hawaiian Airlines needn't provide additional information at this time to Corporate Recovery Group LLC, a Wyoming-based company bidding to take the airline out of bankruptcy.
Trustee Josh Gotbaum said he is pleased with the court's decision because it will "safeguard propriety information, while maintaining a fair competition that doesn't favor one party or another."
