BUSINESS BRIEFS
Hawaiian Telcom bonuses OK'd
Advertiser Staff and News Services
Hawaiian Telcom Inc. received federal bankruptcy court approval to pay $6 million in bonuses to its employees.
U.S. District Judge Lloyd King yesterday authorized the plan, which was criticized by Gov. Linda Lingle.
About $5 million of the payout, or 83 percent, will be paid immediately while the remaining $1 million will be paid after the company emerges from bankruptcy. Nearly $3.6 million of the bonus money is intended for non-senior management employees.
Hawaiian Telcom, the state's largest phone company, filed Chapter 11 bankruptcy reorganization last year due to its heavy debt load and heated competition from wireless and other competitors.
GAS PRICE UP 1 CENT A GALLON
The average price of a gallon of gasoline statewide rose 1 cent this week to $2.46 a gallon, AAA Hawaii reported.In Honolulu, the average price was $2.37 a gallon, unchanged from last week, the AAA said in its Hawaii Weekend Gas Watch.
In Hilo, Hawai'i, the average price was $2.49 a gallon, down 9 cents from a week ago.
The average price in Wailuku, Maui, of $2.69 a gallon was up 3 cents from last week.
IKAIKA SOLD TO GEORGIA COMPANY
Ikaika Inc., a Waimanalo-based construction firm, has been acquired by Tyrone, Ga.-based Osmose Utilities Services.Osmose said the acquisition adds Ikaika's construction and installation services to its inspection and maintenance offerings locally.
Tony Gregory, who was the owner of Ikaika, will report directly to Phil Halsch, director of sales and operations for Osmose in Hawai'i, and continue to provide day-to-day leadership. Ikaika employs more than two dozen workers.
