Big Island ad firms merge
Two Big Island advertising and marketing firms, What to Do Media and Hawaii Pacific Productions, merged on July 1. The new company will operate under the name What to Do Media
and have offices on the Big Island, in Honolulu and Vancouver, Canada.
What to Do Media offers services including print and broadcast advertising; media buying; publishing and graphic design. The company has a team of a dozen in-house staff and outside contractors.
Hawaii Pacific Productions is owned by John Kitchen, who started the firm in 1987 in Kona. What to Do Media was started on the Big Island by President Daniel Duval.
The new company will have a roster of about two dozen clients in Hawaii and the mainland.
Isle insurance firm top ranked
Island Insurance Co., Ltd.
, Hawaii's largest locally owned and managed property and casualty insurance carrier, has been named a top 50 property and casualty insurance company in the nation by the Ward Group and is the first Hawaii-based property and casualty insurance company to receive the distinction.
Ward Group is a consulting firm specializing in the insurance industry. Each year, the company analyzes the financial performance of more than 3,000 property and casualty insurance companies in the U.S.
Young Brothers barge arrives
Young Brothers Ltd.
, Hawaii's largest interisland cargo company, said yesterday its $12 million Makaala barge will arrive on Sunday.
It is the second of four new freight barges that will provide replacement capacity for the company's isle cargo market. The barge has a cargo capacity of 8,600 tons and will transport cargo between Honolulu and Kawaihae.
A Hawaiian blessing with employees will take place at 5 p.m. today.
PM Realty to market Galbraith land
PM Realty Group
has been retained to market about 2,100 acres of agricultural land owned by the George Galbraith Trust in central Oahu.
The firm will begin marketing the property July 28 locally and internationally.
PM Realty was selected by Bank of Hawaii, the trustee for the Galbraith Trust, whose lands are located between Lake Wilson (Wahiawa Reservoir), Schofield Barracks and Wahiawa, and includes a portion of the land beneath Lake Wilson.
The Galbraith Trust was created in 1904 for the benefit of Mr. Galbraith's heirs, but was terminated in April 2007. The trustee is responsible for trust assets until the sale of assets and distribution of proceeds are completed.
It's jackpot time for a nonprofit
One lucky nonprofit organization will receive up to $1 million worth of free advertising and marketing services from Ad2 Honolulu
, itself a nonprofit organization comprising young local advertising professionals.
Each year the organization selects a nonprofit to receive a year-long, pro bono public awareness campaign utilizing broadcast, print and online media.
Applications are available online at www.ad2honolulu.org or via e-mail from Tai Leong at firstname.lastname@example.org. The application deadline is Aug. 15.
30-year mortgage rates sink
WASHINGTON » Mortgage rates fell this week with 30-year mortgage rates dropping to the lowest level in six weeks as investors became less worried that the Federal Reserve would soon tighten credit policy to stall inflation.
Freddie Mac reported yesterday that 30-year fixed-rate mortgages averaged 6.26 percent this week. That was down from 6.37 percent last week. It marked only the second weekly decline in the past eight weeks and left the 30-year rate at the lowest point since it averaged 6.09 percent the week of June 5.
Rates on 15-year fixed-rate mortgages dipped to 5.78 percent, down from 5.91 percent last week.
Rates on five-year adjustable-rate mortgages fell to 5.80 percent, down slightly from 5.82 percent last week, while rates on one-year ARMs dropped to 5.10 percent, down from 5.17 percent last week.
Continental loses $3 million
DALLAS » Continental Airlines Inc.
said yesterday it swung to a second-quarter loss, hurt by record high fuel prices and weakening economic conditions.
For the quarter, Houston-based Continental said it lost $3 million, or 3 cents a share, compared with a profit of $228 million, or $2.03 a share, a year ago. Excluding $22 million in one-time gains, the carrier lost $25 million, or 25 cents a share, in the latest quarter. Revenue rose 9 percent to $4.04 billion.