BUSINESS BRIEFS
Macy's block goes on market
Advertiser Staff and News Services
An affiliate of the Campbell Estate is listing its downtown Honolulu block under Macy's for sale in an offering that could fetch the private trust an estimated $15 million to $40 million.
Local real-estate brokerage firm Colliers Monroe Friedlander recently began marketing the 1.8-acre site owned by Campbell Hawaii Investor LLC without an asking price.
The land bordered by Fort Street Mall and King, Bethel and Hotel streets includes three small office buildings, a parking garage and Macy's, which has a long-term lease. Potential future redevelopment could allow a tower up to 450 feet high for office, retail, residential or hotel use.
CYANOTECH HIRES FINANCE CHIEF
Cyanotech Corp., which produces high-value nutrition and health products from microalgae, has named William Maris chief financial officer and vice president of finance and administration, effective Jan. 1.
Maris was CFO, treasurer and secretary of Market Transport Ltd., a logistics and transportation provider based in Portland, Ore. Before that, he was CFO and vice president-operations of Wholesome and Hearty Foods in Portland.
FOUR NONPROFITS WIN CASH PRIZES
Chaminade University and the Bank of Hawaii awarded $35,000 in cash prizes and over 100 hours of business services to four nonprofit organizations today. Healthy Options — Heat & Eat won first prize of $15,000 and 40 hours of free services. Other winners included Laulima Hana Enterprises, Full Life Learning Center, and Domestic Violence Clearinghouse and Legal Hotline.
ICAHN TURNS UP HEAT ON CASE
NEW YORK — Carl Icahn, the billionaire financier who is agitating for change at Time Warner Inc., yesterday demanded that the media conglomerate disclose the minutes of board meetings where former director and AOL co-founder Steve Case advocated breaking up the company.
Case disclosed in a weekend essay in the Washington Post that he had proposed to Time Warner's board in July that the company split into four units, saying efforts to integrate after the AOL-Time Warner union in 2001 had not succeeded.
