BUSINESS BRIEFS
Fraud settlement includes Hawaii
Advertiser Staff
Hawai'i is among the states that have signed on to a multistate settlement with MoneyGram International Inc., which was being investigated for allegations that bogus telemarketers and others were using the company's money transfer services for fraud.
Under the terms of the agreement announced yesterday by New Jersey Attorney General Anne Milgram, MoneyGram will pay $1.1 million toward a national consumer awareness program and take steps to boost its company anti-fraud programs.
The probe involving MoneyGram looked at the problem of fraud-induced transfers, or money that consumers wired to fraudulent telemarketers and other scam artists that among other things told consumers that they had won a large sum of money in a lottery but needed to pay taxes first to receive it.
KUAKINI BOND RATING IMPROVES
Standard & Poor's Ratings Services has raised its outlook to "stable" from "negative" on special purpose revenue bonds issued by the state on the behalf of the Kuakini Health System.
The ratings agency said the revised outlook reflects a reduction in Kuakini's operating losses.
"Although Kuakini's liquidity has declined, it has a light debt load, stable to growing volume statistics and improved operating performance for the year to date," said S&P Credit Analyst Geraldine Poon in a press statement.
S&P also affirmed its BBB1 long-term rating on the bonds.
'GLOBAL LINKS FORUM' ON MONDAY
The Department of Business, Economic Development and Tourism will hold a "Hawai'i Global Links Forum" from 9-10 a.m. Monday in the second-floor conference room of the State Office Tower, 235 S. Beretania St.
Curtis Chin, U.S. executive director to the Asian Development Bank, will be the featured speaker. Chin will offer an ADB perspective on business opportunities for Hawai'i companies.
The forum is presented in partnership with the Pacific Asian Affairs Council.
The event is free, but those planning to attend should call or e-mail Trinh Nguyen at 944-7784, or cc@paachawaii.org.
$100,000 GRANT FOR FAMILY SHELTER
The First Hawaiian Bank Foundation has awarded a $100,000 grant to Child & Family Services.
The grant will support CFS' emergency and transitional housing facility for families who become homeless due to an abusive relationship.
CFS is building a new facility in Leeward O'ahu that will be twice as large as the current shelter and will be able to accommodate 56 women and their children.
Last year, CFS' Leeward Domestic Abuse Shelter provided 5,298 nights of safety for 286 women and their children.
The foundation is the charitable arm of First Hawaiian Bank. In 2007, the foundation and bank contributed $3.5 million to more than 350 nonprofit organizations.
OIL-DEPENDENT HAWAI'I IN TROUBLE
Rising energy prices may help states producing oil, gas or coal, while hurting a wide range of other municipal bond issuers facing higher expenses and weakening collections of gas and sales taxes and fees, according to a Standard & Poor's report.
Hawai'i and Puerto Rico will be hit "particularly hard because they're dependent on imported oil" and "rising airfares may suppress their important tourism activity," the report said.
Wyoming, Alaska, Montana, Colorado, Texas, Louisiana and Utah will benefit from high prices for the oil, gas and coal they produce, the report said.
