Bankrupt firm plans $11.6M in bonuses
General Growth Properties Inc. has asked for court permission to pay as much as $11.6 million in incentive bonuses to 12 executives, including chief executive Adam Metz and chief operating officer Thomas Nolan.
General Growth, which owns several shopping malls in Hawai'i, including Ala Moana Center and Ward Centers, is currently operating under bankruptcy protection.
The funds would come from an existing incentive plan the company wants to amend, as well as a new "key employee incentive plan," according to papers filed in U.S. Bankruptcy Court in New York .
General Growth said the committee representing unsecured creditors favors the incentives.
HAWAIIAN AIR HAS BEST ON-TIME RECORD
Hawaiian Airlines had the nation's best on-time record and fewest consumer complaints in August.
The U.S. Transportation Department said Hawaiian's on-time performance of 94.7 percent was 15 percentage points above the industry's average of 79.7 percent.
Hawaiian also earned the top ranking in the category of consumer complaints, with the DOT recording a perfect score of zero complaints received in August.
Hawaiian finished second in baggage handling, with an average of 2.11 mishandled baggage reports for every 1,000 passengers served.
HONOLULU, BIG ISLAND MAYORS IN TOKYO
Mayor Mufi Hannemann will join executives of Marriott International in Tokyo today and tomorrow for its Spirit of Aloha campaign to promote travel to Hawai'i.
Big Island Mayor Billy Kenoi is also part of today's Tokyo event.
On Thursday, following a visit to the American Embassy, Hannemann and Kenoi will take part in five "Happy Calls," meetings with wholesale travel companies that specialize in Hawai'i vacations. Sumo celebrity Konishiki will introduce the mayors and Marriott executive Ed Hubennette. Their presentations will be followed by a performance by dancers from the Polynesian Cultural Center.