Business Briefs


POSTED: Saturday, January 31, 2009

Gas prices mixed throughout Hawaii

Gasoline prices increased slightly in Honolulu for the fourth week, but no change was recorded in Hilo, and Wailuku's fuel declined by a cent, according to AAA. Statewide, the gas price average rose by a penny during the past week at $2.35 a gallon.

Yesterday's average price in Honolulu was $2.28 a gallon for unleaded, up 1 cent from last week's price, 4 cents higher than last month, and $1.08 lower than last year. In Hilo, the average price was $2.45 a gallon, the same as last week, a penny less than last month, and $1.02 cents lower than last year. The average price in Wailuku was $2.48 a gallon, 1 cent below last week, down 7 cents from last month, and $1.37 lower than last year.

“;Prices seem to have leveled out and are still below $2.50 a gallon, which is good for motorists,”; AAA Hawaii Regional Manager Richard Velazquez said in a statement.


Ilikai hotel electricity to stay on

The lender of the Ilikai hotel paid yesterday to keep electricity on through Feb. 28.

IStar FM Loans LLC earlier said it would stop paying for ongoing hotel operations, which led a court-appointed receiver to file a motion to shut down the landmark Waikiki property on Feb. 8.

If payment wasn't received by the month's end, the Ilikai homeowners' association had threatened to shut off power tomorrow to 203 condominiums and 16 commercial units owned by troubled Big Island developer Brian Anderson, whose property is in foreclosure. The association is owed more than $1.1 million in back electricity and maintenance fees by Anderson's company, Anekona.

A hearing to approve the receiver's motion is set for Tuesday.


Grand Wailea finishes renovations

The Grand Wailea Resort Hotel & Spa on Maui, a member of the Waldorf Astoria collection, said earlier this week it has completed more than $50 million in upgrades and renovations, including its rooms and spa.


HGEA at contract impasse

The Hawaii Labor Relations Board will declare an impasse in contract negotiations between the Hawaii Government Employees Association and the state and counties tomorrow.

The current contracts for HGEA Units 2, 3, 4, 6, 8, 9 and 13 expire June 30.

“;As a result of the economic situation, contract negotiations between our seven bargaining units and the employers have been on hold,”; HGEA Executive Director Randy Perreira said in a statement yesterday. “;Our bargaining teams are keenly aware of the state's revenue situation, and as a result are not pressing the negotiations issue.”;

Perreira stressed that this action does not mean that HGEA is on a path to interest arbitration.


Central Pacific exec may get $1M

Central Pacific Bank's chief executive Ronald Migita has received a country club membership and a $1,000 monthly automobile allowance in addition to his $1 annual base salary, according to the bank's latest regulatory filing.

Migita, who became head of CPB on Aug. 1 after former CEO Clint Arnoldus retired, will continue to receive a $160,000 annual retainer as chairman of the board.

He also is eligible to receive up to $375,000 in cash and $562,500 in stock based on performance.


Women's roundtable launches

The Maui Women's Business Roundtable is launching on Tuesday to offer women help in discovering resources available from government agencies, business assistance providers, and seasoned business women.

The first in a series of quarterly sessions, “;Connecting the Dots,”; is scheduled for Tuesday from 4 p.m. - 5:30 p.m. at the Maui County Business Resource Center in the Maui Mall.

The free program will present a panel of women with experience as small business owners, educators, coaches and managers, and will be moderated by Anna Ribucan, Maui County's Small Business Advocate.

Reservations are required. Call the Maui County Business Resource Center at 873-8247.


Cyanotech ups product nutrition

Cyanotech Corp., a Kona-based nutritional products company, said yesterday it has released a Hawaiian Spirulina that exceeds any previously recorded naturally cultivated nutrient content.

Hawaiian Spirulina is a source of vitamins A, B12, K, potassium, manganese and iron.

Spirulina supports immune, eye and cellular health, promotes energy and its nutritional content includes: 167 percent more zeaxanthin, 200 percent more iron and 62 percent more vitamin B-12.