BUSINESS BRIEFS
KGMB9 will start day at 4:30 a.m.
Advertiser Staff
There will be more sunrise at KGMB9, starting Jan. 7.
The CBS affiliate, which launched "Sunrise on KGMB9" on Sept. 17 from 5 to 7 a.m., announced on-air this morning that it will expand to broadcast from 4:30 a.m. to 8 a.m. next year.
Roving reporter Ramsay Wharton will anchor from 4:30 a.m. to 5 a.m., with meteorologist Jeff Booth providing weather and traffic reports and Howard Dicus focusing on local and national business reports.
Current anchors Steve Uyehara and Grace Lee will preside from 5 a.m. to 8 a.m., with entertainment-feature reports from Billy V of 105 KINE and Hollywood news from Mike Evans.
GAS CO. PARENT POSTS $18M LOSS
Macquarie Infrastructure Co., an owner of businesses that include the Gas Co. in Honolulu, said its net loss widened to $18 million, or 41 cents a share, in the third quarter. A year earlier it reported a net loss of $10 million, or 37 cents.
The New York-based corporation said much of the loss was attributable to $17.7 million of refinancing-related expenses.
Macquarie said its gas production and distribution operations had a higher contribution margin during the quarter. It said utility revenue for the gas production and distribution business grew 16 percent while non-utility revenue rose 10 percent as the result of retail price increases.
The company also reported higher costs for LPG and transportation between islands.
ALA MOANA HOTEL WORKERS OK PACT
Employees at the Ala Moana Hotel have overwhelmingly approved a new four-year contract that calls for pay raises and increased benefits.
The deal covers 340 workers and was ratified during a vote Tuesday, according to UNITE HERE Local 5, which represents the employees. Hotel employees had been working without a contract since May 31, 2006.
The union said the new contract calls for similar health and pension benefits that workers at other major Waikiki hotels have. The deal calls for a reduction in workload for housekeepers from 16 to 15 rooms, the union said.
Non-tipped employees will receive an increase of $2.65, while tipped workers will see an additional 70 cents an hour increase, the union said. Tipped employees also will receive double-time pay while on sick leave, the union said.
NEW HAWAI'I CANCER CENTER OPENS
The Queen's Medical Center's new multi-disciplinary cancer treatment and research center opened yesterday.
The new cancer center concentrates in one area counseling, physicians, equipment and testing in one area of the hospital to make getting treatment easier for patients. The center also features patient "navigators" who help guide cancer patients through their treatment by answering questions, coordinating appointments and providing other help.
TYCOON SEEKS BIGGER TESORO STAKE
Kirk Kerkorian's Tracinda Corp. began a $1.4 billion tender offer to increase its stake in refiner Tesoro Corp. to 20 percent from 4 percent, Bloomberg News reported. Tesoro is the operator of oil refineries, including Hawai'i's largest.
The offer, for 21.9 million shares of San Antonio-based Tesoro at $64 each, will expire on Dec. 6 if it's not extended, Tracinda said today in a filing with the Securities and Exchange Commission. Bloomberg said. The price is 12 percent higher than Tesoro's last close before Tracinda announced plans for the offer on Oct. 26.
