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Leading economic indicators up
Hawaii's index of Leading Economic Indicators rose in July for the sixth straight month as the state's economy continued to rebound from the post-Sept. 11 slowdown.The index, which measures 10 economic indicators on the state, national and international levels, showed improvement in seven categories compared with six in the preceding month, according to the report released by the state's Department of Business, Economic Development and Tourism.
The index is designed to gauge the likely performance of Hawaii's economy five to 10 months in advance.
Among the LEI's Hawaii-based indicators, an increase in the value of new building permits provided the largest contribution to the index's rise.
A decline in unemployment claims and an increase in Oahu real estate prices also moderately affected the index's increase.
Also helping boost the index were an increase in the purchasing power of foreign currencies relative to the U.S. dollar, growth in the earnings of Japanese households, the moving average of the U.S. leading index, and the index of consumer confidence in the Pacific states.
The three negative indicators were Oahu real estate transactions, average work hours, and the interest-rate environment.
CPB employees get extra holiday
Central Pacific Bank, celebrating its assets topping the $2 billion mark, announced to its employees today that it is marking the occasion by granting each of them an additional floating holiday."We wanted to make sure that they know how much we appreciate their hard work and commitment to service our community," said Clint Arnoldus, chairman, president and chief executive officer of the bank.
The bank's holding company, CPB Inc., is Hawaii's third-largest commercial bank with 23 branches statewide.
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[Hawaii Inc.]
NEW JOBS
>> Castle & Cooke Homes Hawaii Inc. recently hired Jon Shimizu as a senior project coordinator. He is responsible for overseeing the planning and engineering of residential neighborhoods in Mililani Mauka, as well as coordinating governmental and community relations. Shimizu has 18 years of experience in architecture.>> Outrigger Wailea Resort has added Chef de Cuisine Vincent Logan, Hotel Manager Steven Tabiola, Hula Moons Restaurant Manager Carlo Antiado and his assistant manager, Albert Domingo. Logan will develop menus and train staff. He has more than 15 years of culinary experience in Maui and Nevada. Tabiola will share responsibility for overseeing all front office operations. He spent nearly 13 years at the Halekulani Hotel. Antiado will guide the operations and development of Hula Moons with the assistance of Domingo. Antiado was most recently with the Westin Kaanapali and Domingo with Tony Roma's Restaurant in Kihei.
RECOGNITION
>> George Mavrothalassitis, owner of Chef Mavro, was named Gourmet Magazine's 2002 Personal Favorite in Honolulu in its annual "Guide to America's Best Restaurants." Other Honolulu winners were: La Mer for business; Alan Wong's for "buzz"; and Roy's, Izakaya Nonbei, Sam Choy's Breakfast Lunch & Crab, and Side Street Inn for neighborhood gems.
