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POSTED: Friday, December 18, 2009

 

Hawaii worst in earnings growth

Hawaii earned the dubious honor of having the lowest earnings growth in the nation during the third quarter of this year.

While third-quarter net earnings rose 0.4 percent for the nation as a whole, they fell 0.4 percent in Hawaii due to declines in state and local government, according to a report released yesterday by the U.S. Department of Commerce's Bureau of Economic Analysis.

Similarly, total earnings in the U.S. rose 0.26 percent; however, they fell 0.3 percent in Hawaii. And, when it came to personal income growth, the U.S. average increased 0.3 percent; however, Hawaii experienced a 0.14 percent decline.

 

Big Isle broadband firm gets infusion

One of 18 recipients of federal stimulus money to expand high-speed Internet networks is located in Hawaii.

Aloha Broadband Inc. is getting a $106,503 loan with matching funds of $87,405 to bring broadband services to an unserved area in the northern part of the Big Island where there are nearly 600 residents and businesses.

The 18 projects were announced yesterday in Georgia by Vice President Joe Biden.

They are receiving the first $182 million in a $7.2 billion plan to bring high-speed Internet connections to rural areas, poor neighborhoods and American Indian communities.

The administration plans to award $2 billion in grants and loans on a rolling basis over the next 75 days as it starts doling out the first round of stimulus funding for broadband.

 

Cyanotech expands product offerings

Cyanotech Corp., a Big Island producer of human nutritional products from microalgae, has launched new products for its Nutrex-Hawaii brand that target specific demographics and nutritional goals.

The 100 percent vegetarian products are based on the company's Hawaiian Spirulina Pacifica, a natural food source with more than 100 nutrients.

 

Fannie, Freddie suspend foreclosures

WASHINGTON » Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season.

The suspension, announced yesterday by the government-controlled companies, runs from tomorrow through Jan. 3.

Earlier yesterday, Citigroup Inc. announced a 30-day suspension of foreclosures and evictions, affecting about 4,000 borrowers. Fannie and Freddie did not estimate how many homeowners would get this grace period.

 

Court bars British Air workers strike

LONDON » Britain's High Court delivered an early Christmas present to around a million travelers yesterday by granting British Airways an emergency injunction to stop a 12-day strike by its cabin crews.

The strike, organized by the Unite labor union over pay cuts and reduced staffing levels, had been due to begin on Tuesday. It likely would have grounded the majority of BA's planes at a time the loss-making airline normally operates 650 flights and carries 90,000 passengers each day.

 

ON THE MOVE

;  The Hawai'i Convention Center has appointed Brian Reaver as regional director of accounts-Northeast, and he will be based in Philadelphia. He has 24 years' experience in the hospitality and meetings industry and was previously director of global sales for Wyndham Hotels and Resorts.

U.S. Green Building Council for Core & Shell and Commercial Interior has awarded Bowers + Kubota Consulting a dual Leadership in Energy and Environmental Design, Gold certification for a warehouse-plus-office in Waipahu. The warehouse and office is the first of its kind in Hawaii to receive a certificate under the LEED Core & Shell program.