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March 06, 2008
RULEY'S STILL DIALED IN
 | | RANK | PREVIOUS | COMPANY | | 1 | 1 | Tesoro Hawai`i | | 2 | 3 | Alexander & Baldwin | | 3 | 2 | Monsanto Hawai`i | | 4 | 4 | Maui Electric Co. | | 5 | 5 | Weinberg Foundation | | 6 | 6 | Maui Land & Pineapple Co. | | 7 | 7 | Wailuku Water Co. | | 8 | 9 | Goodfellow Brothers | | 9 | 8 | Dowling Co. | | 10 | 10 | Hawaiian Telecom |
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At Hawaiian Telcom (still owned by the Carlyle Group, one of the world's richest and most powerful private equity firms), even when you're out, you're apparently still in. That's right—according to the Feb. 28 Honolulu Advertiser, recently resigned company CEO Michael Ruley is still collecting an HT paycheck. And I'm not just talking his $1.3 million severance package: Ruley also gets a monthly $23,830 consulting fee. Forgive my naivet8E, but this seems odd to me. Ruley, you see, was not a very good CEO, and the Advertiser wasn't gentle about pointing that out: "During his [Ruley's] tenure at Hawaiian Telcom, the company lost thousands of customers and the state Public Utilities Commission opened an investigation into the company's poor customer service." Hey, new HT CEO Stephen Cooper: Ruley was out of the building. He quit. Are things so bad there that you actually require his consultation?
SHOUT-OUTS FROM TAVARES!
And A&B and Goodfellow Brothers—makers of fine South Maui traffic jams!—rise a notch each this week after Mayor Charmaine Tavares gave each (well, Goodfellow and A&B's subsidiary Hawaiian Commercial & Sugar) a shout-out during her Feb. 26 State of the County Address for their assistance regarding recent storm-related damage. She said these companies (and a couple others) represent "a true example of the heart and soul that our community has." MTW
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