Posted on: Saturday, January 22, 2005
BUSINESS BRIEFS
Halekulani parcel for sale
Advertiser Staff
A partial interest in a piece of land under the Halekulani Hotel is up for sale. Owned by a trust administered for the late Cenric Wodehouse, grandson of Victoria Ward, the interest equates to about 17 percent of a 27,000-square-foot parcel that is one of four under the luxury hotel.
The other three parcels are owned by hotel owner Halekulani Corp. The Wodehouse interest generated $235,000 last year in lease rent and does not have an asking price. The property lease runs until May 2013. Sofos Realty Corp. is handling the sale.
The state is registering vendors for a new electronic procurement system aimed at making purchasing practices more open and accessible.
Businesses that use the Hawaii Electronic Procurement System can bid to provide goods and services valued at less than $25,000 with the Department of Transportation and the Department of Accounting and General Services.
For more information or to register online go to www.hawaii.gov/spo.
Moody's Investors Service, upgraded its rating of Bank of Hawaii Corp. by one notch yesterday in response to the bank's "efforts in reducing the size of its largest single exposures, thus reducing a major credit concentration."
Bank of Hawaii long-term deposits, for example, were raised to A2 from A3. The A2 rating is six levels below the company's top rating of Aaa. Moody's said the "Bank of Hawaii's strategic focus will be centered in its home market where its competitive advantage lies."
New York Life Insurance Co. has scheduled a ceremony today commemorating the 125th anniversary of the opening of its Hawai'i general office.
"New York Life takes great pride in celebrating 125 years in the Honolulu business community," said Sandra C. Ngo, of the Honolulu office.
The office in Suite 1400 of the Davies Pacific Center, 841 Bishop St., houses more than 65 New York Life agents, five managers and seven support workers serving O'ahu and the Neighbor Islands. New York Life Insurance Co. is the largest mutual life insurance company in the United States
Web site lists state vendors
Bank of Hawaii rating upgraded
New York Life marks 125 years
