Business Briefs Star-Bulletin staff and wire services

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HAWAII

A&B will transfer to NYSE

Alexander & Baldwin Inc. said yesterday it will transfer the trading of its shares to the New York Stock Exchange from the Nasdaq on Oct. 1, subject to approval by the NYSE. The stock will trade under the new ticker symbol AXB.

A&B, the Honolulu-based parent company for ocean shipper Matson Navigation Co., will continue to trade on the Nasdaq until then.

The company said the move will help it be better positioned to meet the growing business demands of its transportation, agribusiness and real estate customers.

Hawaii Superferry lowering fares

Hawaii Superferry said yesterday it will lower adult fares by $10 starting Monday to $49 for one-way passenger travel through Oct. 31. One-way fares for seniors 62 and over, children 2 through 12 and retired and active military personnel and their dependents are $39 during this period. The fares are available on voyages sailing on Tuesdays, Wednesdays, Thursdays and Saturdays, as well as certain Friday and Sunday voyages.

Passengers who purchase an adult fare 14 days prior to sailing will receive a $5 discount. One-way vehicle fares will remain at $65.

Hawaiian Electric downgraded

Hawaiian Electric Industries Inc., the parent company of American Savings Bank and utilities Hawaiian Electric Co. on Oahu, Hawaii Electric Light Co. on the Big Island and Maui Electric Co. on Maui, Molokai and Lanai, has been downgraded to "neutral" from "outperform" by analyst David Parker at Robert W. Baird & Co. The price target is $28 a share.

$4.25M HDOT contract awarded

ICx Technologies, an Arlington, Va.-based technology and sensor company, said yesterday that its transportation unit has been awarded a $4.25 million contract by the Hawaii Department of Transportation.

Services will include Intelligent Transportation System planning, support for implementation, and system integration. The initial focus of the program includes traveler information, transportation management, emergency management and management support of the recently awarded Freeway Service Patrol Program.

Work on the program began in July and is expected to continue through 2012.

Seahawks to fly Hawaiian again

The Seattle Seahawks will fly a Hawaiian Airlines Boeing 767 aircraft to its road games for the second straight year, starting with its season opener on Sunday in Buffalo, N.Y. The Seahawks will travel 34,766 miles this season.

Also, Mark Dunkerley, president and chief executive officer of Hawaiian, will be presenting at the Calyon Airline Conference at 2 p.m. Eastern Standard Time Sept. 18 in New York City.

The presentation will be available on the investor relations section of www.hawaiianair.com.

CPB names marketing partners

Central Pacific Bank has announced new advertising and public relations contracts with Matsumoto & Clapperton Advertising LLC and Hastings & Pleadwell LLC, respectively. More than a dozen companies were reviewed before the choices were made, said Andrew Rosen, the bank's senior vice president and chief marketing officer, in a statement.

The agencies succeed Communications-Pacific Inc., which had represented the bank since 2006. Neither the duration nor the value of the contracts were disclosed.

NATION

30-year mortgages dip slightly

WASHINGTON » Rates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac, the mortgage company, reported yesterday that 30-year, fixed-rate mortgages dipped to 6.35 percent this week, down from 6.40 percent, the previous week. It marked the third consecutive decline and left rates at the lowest level since July 17 when they stood at 6.26 percent. Rates on 15-year, fixed-rate mortgages fell to 5.90 percent, down from 5.93 percent last week. One-year, adjustable-rate mortgages dropped to 5.15 percent, down from 5.33 percent last week.

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