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POSTED: Friday, February 27, 2009

HAWAII

Hawaiian flight attendants reach deal

Hawaiian Airlines' 1,031 flight attendants, represented by the Association of Flight Attendants-CWA, reached a tentative agreement yesterday with management on a proposed contract.

“;We feel that this tentative agreement reflects the needs and concerns the flight attendants have expressed,”; Sharon Soper, AFA-CWA Hawaiian president, said in a statement. “;We are pleased that we could work collaboratively with Hawaiian's management team to quickly reach an agreement that provides stability for our members and our company during these turbulent times.”;

The proposed agreement would extend the current contract for two more years and includes improved wages and bonus compensation for flight attendants while providing some provisions. The tentative agreement will be sent out for membership review, and a voting schedule will be determined.

 

NATION

30-year mortgage rate up slightly

McLEAN, Va. » Rates on 30-year-fixed mortgages rose slightly this week amid sagging consumer confidence and lower sale prices for existing homes, Freddie Mac said yesterday.

The average rate on a 30-year fixed mortgage increased to 5.07 percent this week from 5.04 percent last week. A year ago, the 30-year, fixed-rate mortgage averaged 6.24 percent.

This week's average rate on a 15-year fixed-rate mortgage was 4.68 percent - unchanged from last week. Last year at this time, the 15-year rate averaged 5.72 percent.

 

Star-Bulletin owner contributes to loss

Torstar Corp., the publisher of Canada's largest newspaper, cut its dividend in half and announced the departure of Chief Executive Officer Robert Prichard after posting a fourth-quarter loss.

Torstar owns a nearly 19.4 percent stake in Black Press Ltd., owner of the Honolulu Star-Bulletin.

During Torstar's fourth quarter, Black Press determined that it would likely record an impairment loss related to intangible assets and reporting unit goodwill in its fiscal year ending this month.

Torstar has recorded $21.8 million in the fourth quarter of 2008 for the impairment loss and expects Black Press will finalize the determination of the impairment loss during Torstar's second quarter of 2009.

Excluding this estimated impairment charge Black Press contributed a loss of $4.5 million in 2008, down from income of $3.1 million in 2007.