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POSTED: Saturday, August 08, 2009

AIG posts its first profit since 2007

American International Group Inc. said it had its first profitable quarter since 2007—but warned that it still has plenty of repair work to do.

The troubled insurer said yesterday it earned $1.82 billion in the April-June quarter as some of its soured assets regained value. But its core insurance business deteriorated sharply amid the recession. And AIG cautioned that unwinding its $1.3 trillion worth of derivatives will take a long time and that future results will be volatile as it accounts for its restructuring.

AIG had a profit of $311 million, or $2.30 a share, compared with a loss of $5.4 billion, or $41.13 a share, a year ago. Revenue rose 48 percent to $29.53 billion from $19.93 billion. The government owns about 80 percent of the company because of the bailout.

Personal finance expo set for Blaisdell

The largest personal finance expo of its type will be held next Saturday and Sunday at the Blaisdell Exhibition Hall.

The event, organized by the Hawaii Council on Economic Education, will offer more than 80 exhibits and 50 seminars covering all age and economic demographics and needs. More than 16,000 people are expected to attend.

Mortgage modifications, reverse mortgages, budgeting and growing wealth are among the topics that will be discussed.

The event will be held from 10 a.m. to 6 p.m. on Saturday and 10 a.m. to 4 p.m. on Sunday. Admission is $5 for adults, or $2 with a coupon printed from www.MyMoneyHawaii.com. Children under 12 are free.

For a complete list of seminars and exhibits, go to www.MyMoneyHawaii.com.

Kai Market opens at Sheraton Waikiki

Kai Market, a new farm-to-table eatery at the Sheraton Waikiki, opened yesterday, offering breakfast and dinner menus. The restaurant is designed to give customers insight into the cultures of Hawaii, featuring three “;living walls”; of herbs and spices chefs can pick fresh for signature dishes.

Executive Chef Darren Demaya will prepare dishes using produce from local growers.

On “;Plantation Nights”; the restaurant will feature a “;Farmer's Dinner”; inspired by generations of Hawaii's multiethnic people and their roots.

Breakfast prices are $26 for adults; children 12 and under eat free with paying adult (one child per adult), with additional children at $13 per child.

The “;Plantation Night”; dinner is $49 for adults; children 12 and under eat free with paying adult (one child per adult), with additional children at $26 per child.

Breakfast will be served from 6 to 11 a.m. and dinner from 5:30 to 10 p.m.

Kai Market will be open seven days a week; complimentary self-parking will be available with validation. For more information, call the dining reservation desk at 921-4600.

On the move

Distributed Energy Partners has hired Garrett Miyake as project developer. He brings more than 25 years of sales management and sales experience to the company. Previously he was a project consultant at Sunetric.

;*;*;*

The Hawaii affiliate of the Susan G. Komen for the Cure announced its new and returning board of directors: Shelia Callum, executive director; Teresa Tyler, president; Donna Amrich, education; Darlena Chadwick, treasurer; Pam Christoffel, volunteer chairwoman; Sandy Diego, Kauai liaison; Lucy Farewell, grants; Anne P. Harpham, public relations; Cindy T. Kaneshiro, secretary; Rodney Kwock, development; Cynthia Pang, education; Rebecca Pang, public relations; Nina Rappeline, race chairwoman; Diane S. Thompson, education; and Paulette Williams, volunteer chairwoman.