BUSINESS BRIEFS
MBA program receives grant
Advertiser Staff and News Services
Young Brothers Ltd. has given a $120,000 grant to the University of Hawai'i's College of Business to provide scholarships for students participating in the Executive Neighbor Island MBA program.
The grant will provide 10 scholarships every two semesters from this fall through the summer of 2008. Recipients must be Neighbor Island residents and will be selected based on grades and financial need. For more information, go to www.youngbrothers hawaii.com.
TIME VETERAN JOINS CARLYLE
NEW YORK — Norman Pearlstine, the former top editorial executive at magazine publisher Time Inc., is joining The Carlyle Group, a large and well-connected global private equity firm and owner of Hawaiian Telcom.
Pearlstine, 63, is joining Carlyle as a senior adviser. He was the editor in chief at Time Inc. for 11 years.
ECONOMY GROWS 11.3% IN CHINA
BEIJING — China's economic growth accelerated to a stunning 11.3 percent in the second quarter, but efforts to cool the rapid expansion are taking hold, the government said today.
While a rapid, sustained expansion usually would be expected to ignite inflation, China said its consumer prices rose just 1.3 percent in the first half of this year.
WAL-MART TURNS TO FORMER NUN
WASHINGTON — Wal-Mart has faith that a seasoned expert will help burnish its battered image: a former nun.
The company said yesterday Harriet Hentges, 65, will help the retailer reach out to activist groups critical of the company's sourcing, environmental, ethics and healthcare policies.
AIRLINE, UNION REACH ACCORD
MINNEAPOLIS — The last holdout union at Northwest Airlines Corp. tentatively agreed to deep pay cuts and work rule changes yesterday.
The agreement came on the same day Northwest could have imposed the contract rejected by 80 percent of flight attendants last month. The union had said it could consider a strike if that happened.
