Taekwondo grandmasters from Europe and the Mainland were on hand for the grand opening last week of the Traditional Taekwondo Center in the Puck's Alley shopping center in Mo'ili'ili.

The school is run by taekwondo master David Ippen, who first came to Hawai'i in 2003 to study a style of bodywork based upon the Hawaiian martial art lua with Kahu Abraham Kawai'i. Ippen later moved to Hawai'i to continue his studies and to teach traditional taekwondo.

For more information on the school, go to www.taekwondohonolulu.com.

MOODY'S LOWERS BLACK PRESS RATING

Moody's Investors Service has downgraded the corporate family rating and another debt rating for Black Press Ltd., the parent company of the Honolulu Star-Bulletin and newspapers on the Mainland and in Canada.

Moody's said the downgrade reflects a recent deterioration in Black Press' revenue and earnings. It said Black Press' U.S. operations, which represent one-fourth of its revenues, experienced a 12 percent drop in fourth quarter revenues.

Moody's downgraded the rating to B1 from Ba3. Both Moody's and Standard & Poor's Ratings Services have a negative outlook for the company.

SBA OFFERS FREE CONSULTATIONS

The Small Business Administration will offer free consultations in June in Honolulu and Hilo for business owners coping with the economic downturn.

The event will provide information on the SBA's guaranteed loan programs, government contracting certifications and other sources for training, business counseling, planning, and technical assistance.

The Honolulu event will run from 9 a.m. to 3 p.m. June 3 at the First Hawaiian Bank branch in Kaimuki. In Hilo, sessions will be held from 9 a.m. to 2 p.m. June 17 at the Bank of Hawaii on Pauahi Street. Registration is available at www.sba.gov/hi, or by calling 541-2990.