BUSINESS BRIEFS
Ilikai planning about 170 layoffs
Advertiser Staff
The Ilikai hotel will lay off about 170 employees in September while its Yacht Harbor Tower undergoes renovation, owner Brian Anderson of Anekona Islander LLC told the state Labor Department in a letter this week.
Anderson told the department it is unclear how long the layoffs may last, and that there is no guarantee workers will be recalled. But he said he hopes to reopen before the end of the year.
Anderson bought the Ilikai's 703 hotel units and commercial areas this month and has said he planned to sell the 360-room Yacht Harbor Tower to an unidentified hotel operator.
LAWYERS LIKELY TO SPEND PLENTY
The American Bar Association's annual meeting, to be held in Honolulu next week, is expected to draw 10,700 participants who will spend about $38 million here.
Meeting delegates, organizers and exhibitors are projected to generate $3.7 million in tax revenues, according the Hawai'i Convention Center. The meeting will take place Aug. 3 to 9.
CENTRAL PACIFIC RAISING DIVIDEND
Central Pacific Financial Corp. said it will raise its dividend by 9.5 percent in the third quarter.
The company's board approved a 23-cent per share dividend for shareholders of record as of Aug. 18, 2006. The dividend, payable on Sept. 15, compares with 21 cent dividend in the second quarter.
For the first nine months this year, Central Pacific said, its dividend will be 65 cents, up 20.3 percent from a year earlier.
