BUSINESS BRIEFS
S&P cuts rating for HawaiianTel
Advertiser Staff and News Services
The rating of Hawaiian Telcom Communications Inc., formed in May 2005 when Carlyle Group bought the Hawaiian operations of Verizon Communications Inc., was cut one level, to B-, by Standard & Poor's.
The rating service cited Hawaiian Telcom's expenses and delays resulting from the need to build out back-office operations after the acquisition as reasons for the downgrade. Hawaiian Telcom has a "highly leveraged financial profile" whose "profitability significantly lags its peers," S&P said.
COLUMBIA INN AUCTION TODAY
Pots and pans, an 80-quart mixer, ice machine and booths from the Kaimuki Columbia Inn will be up for bid today when McClain Auctions sells off the inventory of the restaurant that suddenly closed on March 14.
The auction is set for 10 a.m. at the former eatery, 3221 Wai'alae Ave. Potential bidders can inspect the merchandise starting at 9 a.m., according to the auctioneer's Web site. The location was the last of the Columbia Inn chain of restaurants, the first of which opened more than 60 years ago.
CATHOLIC CHARITY GROUP GETS GRANT
Bank of Hawaii has awarded a $100,000 grant to Catholic Charities Hawai'i to support its capital campaign for a new facility.
"This grant will greatly impact the success of the capital campaign to establish a permanent home at the Makiki campus property," said Jerry Rauckhorst, Catholic Charities Hawai'i chief executive officer.
The move to one campus location is expected to help Catholic Charities Hawai'i to improve and expand services that it offers to the community regardless of faith.
WYLAND HOTEL SIGNS OUTRIGGER
Outrigger Enterprises Group this week announced it will manage the newly designed Wyland Waikiki Hotel at 400 Royal Hawaiian Ave.
The agreement is between Outrigger and WB-LCP Kuhio Owner LLC, an investment group led by Lodging Capital Partners LLC of Chicago.
JOB FAIR INCLUDES DIVERSITY FOCUS
The public is invited to a Work Works! Conference and Job Fair from 8 a.m. to noon Thursday at the Hawai'i Convention Center.
The fair will be held in conjunction with a state Department of Health Supported Employment conference April 3 to 5 that offers employers an opportunity to learn about and improve workplace diversity by hiring qualified persons with physical and/or mental disabilities.
Employers attending the job fair include ABC Stores, Bank of Hawaii, Cingular Wireless, Easter Seals, Enterprise Rent-A-Car, Hawaiian Electric Co., Home Depot, Kaiser Permanente, Macy's, Office Max, Safeway and Times Markets.
For more information, call 956-9823.
