BUSINESS BRIEFS
General Growth seeks loan extension
Advertiser Staff
| |||
 |
|
||
Chances of a bankruptcy filing are looming larger for mall giant General Growth Properties Inc., the Wall Street Journal reported yesterday.
The company, whose Hawai'i holdings include Ala Moana Center and Ward Centers in Honolulu, must extend the payment deadlines of two debts that lenders could call due a few weeks from now: a $2.6 billion credit line and a $900 million mortgage on two Las Vegas malls.
At a meeting with lenders in New York on Monday, General Growth outlined separate scenarios of the firm operating under bankruptcy protection, people familiar with the matter told the Wall Street Journal.
The sources told the Journal a bankruptcy filing isn't imminent. Indeed, the company last month won an extension of both loans, giving it six to eight weeks of breathing room. On Monday, General Growth asked the lenders to extend their deadlines on the credit line and Las Vegas loans from Jan. 30 and Feb. 12, respectively, to March 15, the sources said.
KAISER GRANTS AIMED AT NONPROFITS
Kaiser Permanente Hawaii is inviting nonprofit organizations to apply for a $300,000 grant over three years to support programs and activities that reduce healthcare disparities.All "safety-net" organizations and coalitions of safety-net organizations designated as a 501(c) (3) charitable nonprofit by the federal government are invited to apply. Programs and activities under the grant must: improve access to health services; focus on patient-centered care through targeted, innovative approaches; and lead to systemic change through outcomes that can be documented and measured.
Letters of intent (five copies) must be mailed or hand-delivered to: Kaiser Permanente Hawaii, Executive Office, Community Benefit, 2828 Paa St., Honolulu, HI 96819. Application details are available at http://info.kp.org/communitybenefit /our_communities_6_a.html. For more information, call Pam Christoffel, 432-5777, ext. 1382.
HAWAIIAN IS NO. 1 FOR ON-TIME FLIGHTS
Hawaiian Airlines led the nation's carriers in on-time performance for November, with 89.6 percent of its flights arriving on time, the U.S. Department of Transportation reported.Hawaiian ranked fourth nationally for fewest misplaced bags in November, reporting 2.41 mishandled baggage reports for every 1,000 passengers. Hawai'i's largest carrier also ranked fourth for fewest consumer complaints, despite being the subject of only one complaint to the DOT.
Hawaiian is the largest provider of transpacific air service to Hawai'i from the western U.S., and is also the leading carrier for interisland service within Hawai'i.
