Business briefs


POSTED: Wednesday, July 15, 2009

Territorial stock slips on second day

Territorial Bancorp Inc.'s stock slipped 16 cents, or 1.1 percent, to $14.83 on the Nasdaq yesterday, one day after rocketing 49.9 percent in its initial public offering.

The parent of Territorial Savings Bank also saw trading volume slow to 681,618 shares from nearly 4.6 million shares the day before.

Mokulele, United reach ticketing pact

Mokulele Airlines has reached an interline ticketing and baggage agreement with United Airlines that is available for flights between the islands and United's worldwide destinations. The agreement will enable passengers to book connecting travel on the two airlines and check luggage directly to its final destination.

Maui Electric taps GE for grid help

Maui Electric Co. and General Electric have embarked upon the Maui Smart Grid project, seeking to help manage grid operations. The project will help the utility control peak demand, maintain circuit voltage levels and integrate intermittent renewable energy resources.

Maui currently gets nearly 10 percent of its energy from wind, which fluctuates, but MECO and GE hope to increase the percentage of wind and solar power used on the island.

AlohaCare loses Medicaid appeal

AlohaCare, the state's nonprofit health plan, has lost its appeal of a U.S. District Court ruling dismissing its lawsuit that sought to overturn the awarding of a $1.5 billion Medicaid contract to two for-profit, mainland-based health plans.

AlohaCare had alleged that the state had violated the Medicaid Act.

In its ruling yesterday, the Ninth U.S. Circuit Court of Appeals affirmed the District Court's ruling made in June of last year.

Hawaii National moves Kihei branch

Hawaii National Bank has moved its Kihei branch and will open it to the public on Monday.

The bank has relocated the branch from 1325 S. Kihei Road to the South Maui Center office complex at 95 E. Lipoa St., Building B. The new branch will offer four teller windows and two account desks in its 2,894-square-foot building.

Hawaii National Bank has one other branch on Maui located in Kahului. The bank has 10 branches on Oahu and two on the Big Island.

Dell's pessimism affects share price

SEATTLE » Dell Inc. said yesterday that the U.S. personal computer market has reached its low point but that the timing of a global turnaround in the technology industry remains anyone's guess.

The pessimism sent Dell shares plummeting yesterday $1.05, or 8.1 percent, to $11.97.

At a meeting with Wall Street analysts, the world's No. 2 PC maker elaborated on guidance it issued Monday, when it said it expects slightly stronger sales in the current quarter than in the last one.

Despite these signs of improvement, Dell executives said yesterday that many of the conditions that hurt the PC industry over the last several quarters aren't easing.

On the move

» The Queen's Medical Center has named Valerie Heu its 2008 Employee of the Year. She is a medical assistant at the Queen Emma Clinic.

» The Hawaii Society of Certified Public Accountants elected new officers and directors for 2009-2010. They are Wendell Lee, president; Jason Yoshimi, president-elect; Terri Fujii, vice president; and Warren Wee, secretary-treasurer, and board members Catha Combs, Brenda Cutwright, Ronald Heller, Patrick Ing, Melanie King, Lorie Ishii, Ralph Kanetoku, Gary Kuba, Jodi Lam, Chris Mashiba, Ross Murakami, Patrick Oki, Edward Punua, Valerie Shintaku, Michael Tanaka, Craig Watanabe and Carl Williams.