BUSINESS BRIEFS
Horizon increasing fuel surcharge
Advertiser Staff
Horizon Lines said yesterday it will raise its fuel surcharge from 24 percent to 29 percent effective Dec. 17.
The increase follows a similar hike announced last week by Matson Navigation Co. Both companies said they were forced to amend earlier surcharge increases because of soaring fuel costs.
Horizon said bunker fuel has increased more than 25 percent in the last four weeks.
"There is simply no way to avoid the impact that rapidly increasing fuel costs have had on our cost of operating," Horizon said in a statement. "We must adjust the fuel surcharge when cost trends demand an adjustment, and the magnitude seen over the past weeks requires this adjustment."
The higher shipping costs are expected to affect the prices Hawai'i residents pay for goods.
BARNES & NOBLE MAUI STORE TO OPEN
Barnes & Noble said its first Maui store will open Dec. 5 at the new Lahaina Gateway shopping center across the street from Lahaina Cannery Mall.
The book and music store will include a cafe serving Starbucks coffee and employ about 60 people. Store hours are 9 a.m. to 11 p.m. daily.
A preview event with music by Ahumanu is planned for Dec. 4 from 6 to 9 p.m., during which a portion of sales will benefit Lahainaluna High School. Other special events are planned for Dec. 8 and 9.
Barnes & Noble is one of the shopping center's anchor tenants. Another anchor, Office Max, plans to open a store early next year.
DOMINO'S CLOSES NU'UANU OUTLET
Domino's pizza closed its Nu'uanu Shopping Plaza store last month, but six other O'ahu locations remain open, according to the local office for franchise owner Posso Pizza Inc.
A spokesman said the Nu'uanu location was closed the week after Labor Day, but stores are still operating in Waikiki (off Kapahulu), 'Ewa Beach, Kailua, Nimitz Highway and Wahiawa.
The shopping center manager confirmed that the Domino's pizza store closed there but did not have the exact date.
FORUM FOR SMALL-BUSINESS OWNERS
A "Small Business Summit" to assist business owners on loan programs and other issues that affect businesses will be held from 9 a.m. to noon Dec. 5 at the Ala Moana Hotel.
The free event is sponsored by Meridian Financial Network and will feature experts on small business. Speakers will include Andrew Poepoe, district director of the Small Business Administration in Hawai'i; Jim Tollefson, chief executive officer of the Chamber of Commerce of Hawai'i; Keith Ogata, director of SCORE Hawaii; and J.P. Park, vice president of Nara Bank.
For reservations, call 942-2224, ext. 102, or e-mail neysa@mortgage2u.com.
MAUI PINE GETS REVOLVING CREDIT
Maui Land & Pineapple Inc. said it has entered into a $90 million secured revolving line of credit in a transaction led by Wells Fargo Bank.
Other lenders participating include MLP's longtime lender, American AgCredit, and American Savings Bank.
The $90 million will be used to fund working capital and development projects. The initial term runs through November 2009.
