BUSINESS BRIEFS
General Growth borrowing $375M
Advertiser Staff
| |||
 |
|
||
General Growth Properties Inc. said it will pay a $15 million fee to William Ackman's Pershing Square Capital Management LP under an agreement for a $375 million bankruptcy loan.
The loan is to fund General Growth's operations during bankruptcy as well as to pay off about $210 million in existing debt owed to Goldman Sachs Group Inc., according to court papers. General Growth, whose properties include Ala Moana Center and Ward Centers in Hawai'i, filed for bankruptcy protection on Thursday.
Ackman is a hedge fund investor who owns a 7.4 percent stake in General Growth. It is expected he will join General Growth's board of directors once the loan is approved by the bankruptcy court, the SEC filing said.
25% OFF FOR ONLINE LICENSE RENEWAL
More than 25,000 Hawai'i nurses, acupuncturists and plumbers can renew their licenses online — and the state Department of Commerce and Consumer Affairs is encouraging them to do so.The department offers a 25 percent customer appreciation credit on the renewal fee for all licenses renewed online at http://pvl.ehawaii.gov/renewals.
Those professionals able to renew online include acupuncturists, registered nurses, licensed practical nurses, advanced practice registered nurse recognition, journeyman plumbers and master plumbers.
Online renewals will be accepted until midnight on June 30.
ISLE WORKFORCE DRUG USE UP A BIT
Except for opiates, drug use was up slightly in the first quarter of 2009, according to statistics for workforce drug testing released by Diagnostic Laboratory Services Inc."There is an uptick from last quarter. However, the numbers are still down about an average of 20 percent" from the first quarter of last year, said Carl Linden, DLS' scientific director of toxicology.
"Marijuana use, although up a bit, has remained relatively stable for about a year now," he said.
DLS' quarterly sample size typically includes between 5,000 and 10,000 drug tests.
OPPORTUNITY FOR LOCAL BUSINESSES
The Defense Commissary Agency is seeking local businesses to participate in the 12th annual American Logistics Association Hawaii Show.The show is a chance for the businesses to get their products on commissary shelves around the world.
The cost to schedule a booth at the show is $425 and registrations will be accepted until July 1. The show is Aug. 20 at the Hawaii Prince Hotel in Waikiki. For more information contact Sharon Zambo-Fan at sharonzambofan@hawaii.rr.com or Mark Honda at markhonda@hawnsun.com.
