BUSINESS BRIEFS
Three ordered to stop selling securities
Advertiser Staff
State regulators have issued a cease-and-desist order against three men accused of selling unregistered securities in Hawai'i.
The three, Joseph W. Sullivan, Daryn K. Murai and Chad Morisato, are affiliated with a company called The Swiss Group Ltd., according to a news release from the Department of Commerce and Consumer Affairs.
In addition to ordering the three to stop selling unregistered securities, regulators are seeking an administrative penalty of $1 million collectively against the men. The preliminary order alleges the three "have solicited, offered, sold or transacted in unregistered securities while not duly registered as securities dealers, salespersons, investment advisers, and/or investment adviser representatives in the state of Hawai'i."
RECORD RENTS EXPECTED IN 2007
Honolulu is one of several commercial U.S. real estate markets where landlords are expected to fetch record rents in 2007, Colliers International predicted in its annual real estate forecast.
"To an extent, we will see a two-tier market in which prime strips and high-end centers will enjoy strong sales and healthy occupancies while more average properties will experience only modest growth. Tourism fueled retail markets such as midtown Manhattan, San Francisco, Los Angeles, Chicago, Las Vegas and Honolulu are expected to flourish with record rental rates achieved," the real estate company said in a news release.
$199 KAMA'AINA RATE AT EMBASSY
Hawai'i residents are eligible for a discounted kama'aina rate of $199 a night at the newly opened Embassy Suites-Waikiki Beach Walk hotel.
Regular room rates for the Embassy Suites-Waikiki Beach Walk start at $399 for a one-bedroom suite and $549 for a two-bedroom suite. The kama'aina rate applies to one-bedroom suites and is available throughout 2007 on a space-available basis. Children under the age of 18 can stay for free.
The Embassy Suites, which opened yesterday, is part of the Beach Walk renovation project at the makai end of Lewers Street. It is one of Waikiki's most extensive retail redevelopment projects in decades. About a dozen retailers and restaurants have already opened, and another 40 are slated to open between January and May.
