BUSINESS BRIEFS
Group to honor top retailers
Advertiser Staff and News Services
The Retail Merchants of Hawai'i will honor the state's outstanding retailers with its Ho'okela Awards at the RMH Annual Conference on Oct. 28 at the Hilton Hawaiian Village Coral Ballroom.
Categories include: Retailer of the Year, Retail Employee of the Year, Resort Retail Business of the Year, Neighborhood Retail Business of the Year, and Retail Business of the Year for the Big Island, Maui, Kaua'i and O'ahu.
In addition to the Ho'okela Awards, this year's conference also will incorporate the 19th Annual Governor's Fashion Awards as well as the Shopping Center of the Year Achievement Award, once separate events.
To register and receive information about the conference, call Sheryl Yee at (808) 592-4200, or e-mail info@RMHawaii.org.
TOURISM LIAISON AT NHCC LUNCH
Marsha Wienert, the state's tourism liaison, will be the featured speaker at the membership luncheon of The Native Hawaiian Chamber of Commerce on Oct. 21 at the Pacific Club.
Wienert's talk will cover "Native Hawaiians and Their Role in Tourism."
"Hawai'i's visitor industry is based on our host culture, its traditions, pageantry and heritage," said chamber President Warren Asing. "With tourism counts steadily increasing, impacting our visitor product and host culture, it is timely to hear how the state will incorporate input from Native Hawaiians into its plans," he said.
Chamber members are encouraged to bring a guest, and nonmembers are invited to attend. For more information, call Kimo Guequierre, NHCC program committee chair, at 540-4637 or e-mail jguequierre@watg.com.
CRUDE-OIL PRICE DROPS BELOW $63
Crude-oil futures fell below $63 a barrel yesterday, extending their losses amid signs of weak U.S. gasoline demand coupled with reports that more refineries in the U.S. Gulf were back on line after hurricanes Katrina and Rita.
Light, sweet crude for November delivery slipped 45 cents to settle at $62.63 a barrel on the New York Mercantile Exchange. Crude futures are down 10 percent from their record settlement price of $69.47 on Sept. 1.
REFCO LIKELY TO DEFAULT ON DEBT
NEW YORK — Weighed down by an accounting scandal, a former chief executive under indictment and the possibility of serious trouble with the Securities and Exchange Commission, commodities broker Refco Inc. appears to be struggling to hold on to as many customers — and as much cash — as possible.
There was more evidence yesterday that the $545 million accounting scandal in a Refco subsidiary that led to the arrest of ex-CEO Phillip Bennett was spilling out into the company's other businesses. Credit rating agency Standard & Poor's said the situation was getting so bad, the company was likely to default on its debt payments because of a lack of cash. Refco said it would begin "winding down" its stock, bond and credit portfolios within its Refco Securities LLC subsidiary, selling all its holdings to pay off its customers.
