BUSINESS BRIEFS
USA Funds awards Isle scholarships
Advertiser Staff
USA Funds, the nation's leading education loan guarantor, has awarded of $441,750 in scholarships to help 301 low-to-moderate-income Hawai'i residents pursue higher education in the 2008-2009 academic year.
"As the cost of college continues to rise, these awards can make a real difference in helping students pursue higher education," said Carl C. Dalstrom, USA Funds president and CEO.
To qualify for the scholarships, students must come from households with annual incomes of $35,000 or less. Full-time and half-time undergraduate students, as well as full-time graduate and professional students, are eligible for $1,500 scholarships.
For more information about the scholarship program, visit www.usafunds.org/scholarship.
STATE HOSTS AEROSPACE CONFERENCE
The state is sponsoring an all-day conference on Hawai'i's aerospace industry Aug. 21 at the state Capitol auditorium.
The conference will feature more than two dozen speakers and panelists from institutions including the Hawai'i Office of Aerospace Development, the University of Hawai'i and NASA. Private sector experts from companies such as Boeing and Rocketplane Global also are on the schedule.
The state Legislature last year approved a bill reviving the Hawai'i Office of Space Industry, renaming it the Hawai'i Office of Aerospace Development and giving it $500,000 to promote aerospace businesses industries in Hawai'i.
FITCH REAFFIRMS ITS RATINGS OF CVS
Fitch Ratings has affirmed its ratings on CVS Caremark Corp., the Rhode Island-based company that is buying Longs Drug Stores Corp.
CVS' long-term issuer default rating, and its senior unsecured bank facility rating from Fitch are both "BBB+."
Fitch's rating outlook is for CVS is stable. CVS had $9.4 billion in debt outstanding as of June 28, 2008.
CVS said it expects to fund its acquisition of Longs with a $1.5 billion bridge loan facility, existing cash and commercial paper borrowings.
Longs has 521 stores in four Western states, including 39 in Hawai'i.
FREE COMPUTER SECURITY WORKSHOP
A free workshop for small business owners on computer security will be held from 8:30 a.m. to 12:30 p.m. Aug. 28 at the Cupola Events Theatre, Honolulu Design Center.
The event is sponsored by the National Institute of Standards and Technology and the U.S. Small Business Administration. Richard Kissel, a senior information security analyst for the NIST, will lead the workshop.
Participants will learn to define information security (IS) for their organization, hear examples of common types of threats and learn to address these threats, and also hear of ways to be less vulnerable to information security threats.
Registration is limited to 100. For information, call 541-2990, ext. 209, or visit www.sba.gov/hi.
DOD AWARDS $84.8M PEARL CONTRACT
The U.S. Department of Defense said an $84.8 million contract was awarded to Watts-Healy Tibbitts for the construction of a new facility at Pearl Harbor.
The contractor is to build a submarine drive-in magnetic silencing facility at Beckoning Point, Pearl Harbor and to have the work completed by October 2010.
The Naval Facilities Engineering Command solicited 41 offers and received four proposals.
