(HawaiiNewsNow) - M Waikiki, the SanDiego investment hui that owns the former Waikiki Edition Hotel, filed for bankruptcy yesterday after Marriott, which it fired as management, won reinstatement in a temporary restraining order. The bankruptcy filing trumps the TRO, so Aqua Hotels remains in place as new management. The Aqua issued a statement accusing Marriott of actions to mislead and confuse employees.
One of the three bidders for Honolulu rail has written to the rapid transit board renouncing what the city said was a condition that got its bid disqualified. Breda won the contract, beating Sumitomo, after Bombardier was disqualified for making its bid conditional on a liability cap provision. Bombardier sent an eight-page letter to the transit board in which the most important five words are, 'Bombardier hereby waives the condition.'
Hawaiian Dredging has won a major contract. 54 million dollars for design-build work at Marine Corps Base Hawaii. The work at Kaneohe involves a new headquarters building, parking structure and enlisted quarters.
New this morning, US Weekly jobless claims are down, reflecting the end of the Verizon strike. Hawaii claims will be posted later today.
AT&T says, yes it will appeal the Justice department disapproval of it buying T-Mobile. The Federal thumbs down sent AT&T stock tumbling and Sprint rose. Whole Foods up 3%, Central Pacific down 8% and Hawaiian Airlines rebounds 2%.