Business briefs


POSTED: Friday, December 11, 2009

Hawaiian, union OK tentative pact

Hawaiian Airlines has reached a tentative four-year contract with its largest work group.

The pact would cover the 1,245 members of the International Association of Machinists and Aerospace Workers-Clerical Division.

Randy Kauhane, IAM assistant general chairman, District Lodge 141, said yesterday that the union's negotiating committee recommends that union members ratify the contract.

Terms of the pact were not disclosed.

The company said the agreement provides increased compensation for the workers and operational improvements for the company.

Hawaiian has reached similar agreements with its flight attendants dispatchers unions but still is trying to come to terms with its machinists and pilots unions.


Airline offering mainland fare sale

Hawaiian Airlines is offering discounted round-trip airfares for nonstop travel starting in January between Hawaii and 10 mainland destinations.

The fares represent as much as 25 percent off regular prices and are for travel between Jan. 5 and June 10, excluding March 12 through April 5.

Round-trip fares are $288 for travel from Honolulu or Kahului to Portland, Ore., or Honolulu to Seattle; $318 from Honolulu to Phoenix, or Kahului to Seattle; $358 from Honolulu to San Jose, Calif.; $368 from Honolulu to Los Angeles, San Francisco, San Diego or Oakland, Calif., $388 from Honolulu to Sacramento, Calif.; and $418 from Honolulu to Las Vegas.

In order to qualify for the fares, tickets must be purchased by Wednesday.


Mortgage rates still below 5 percent

McLEAN, VA. » Mortgage rates rose this week but remained below 5 percent, Freddie Mac said yesterday.

The average fixed rate on 30-year mortgages was 4.81 percent, up from a record-low 4.71 percent last week.

The average rate on a 15-year fixed mortgage rose to 4.32 percent, from a record low of 4.27 percent last week.

Rates on one-year, adjustable-rate mortgages were 4.24 percent, down from 4.25 percent.


Costco earnings are virtually flat

PORTLAND, Ore. » Costco Wholesale Corp. says shoppers continued to flock to its stores in its first quarter and sales rose, but lower gas and food prices hampered the warehouse club operator's profit.

Costco reported yesterday nearly flat earnings for the quarter that ended Nov. 22. The company earned $266 million compared with $263 million a year earlier. Revenue rose 6 percent to $17.3 billion.


Newspaper trade publication closing

NEW YORK » The Nielsen Co. is selling some of its most prominent trade journals—including The Hollywood Reporter and Billboard—and shutting down Editor & Publisher, which has chronicled the newspaper business for more than 100 years. Nielsen is selling eight titles to e5 Global Media LLC, a new company formed by private equity firm Pluribus Capital Management and Guggenheim Partners, a financial services company.


On the Move

» Cadinha & Co. has hired Daniel McInerny as a registered investment adviser representative. He was previously a director of sales for It's All About Kids as well as a teacher at Punahou and Kalani High School. The company also hired Matthew W. Rodrigue as a registered investment adviser representative. He was previously a business sales executive at Pitney Bowes in Los Angeles.

» The First Hawaiian Bank Foundation has given a grant of $10,000 to Camp Mokuleia. The grant will be used to assist with the camp's renovation project.

» Hawaii Employers Council Board of Governors has announced the following board members: Newly elected are Richard Rosenblum, John Schapperle, Anne Oishi and Michael Kaleikini. Re-elected are Wade Wakayama and Brian Nishida.

» The 2009 Emma Kauikeolani Wilcox Award went to Joyce Wong, a registered nurse at the Pediatric Ambulatory Unit at Kapiolani Medical Center for Women & Children. The award is presented annually to a Kapiolani employee who exemplifies the founder's mission of caring for Hawaii's children.