HONOLULU (HawaiiNewsNow) - The estate of Lehman Brothers has filed foreclosure papers against the Ritz-Carlton Kapalua Resort. Its 300 rooms have been mostly full lately. But the owners, some guys from Miami, converted more than hundred rooms to condos, and the Wall Street Journal reports only about a third of them found buyers. Result: not enough revenue for debt payments.
Governor Lingle today gets a private tour of the Walt Disney Resort now under construction at Ko Olina. The tour guide will be Tom Staggs, the chairman of Disney Parks & Resorts.
A separate Disney division, broadcasting, has settled program fees with Time Warner, parent company of Oceanic, ending blackout threats. Disney owns ABC and ESPN, and is part-owner of A&E, which owns Lifetime and the History Channel.
Nissan has 50 orders for its Leaf electric car on Maui. Gas is 40 cents a gallon more on Maui than Oahu.
Shares are tumbling for Australia's Macquarrie on plunging profits. One of its few healthy divisions: the Gas Company here.
Taiwan's electronics giant Foxconn has cut its growth forecast in half. Falling computer sales offset rising demand for iPads and iPhones, which Foxconn makes. Foxconn also has a stranger problem: a rash of suicides at its factories in China.
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