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HAWAII
Workers' comp hike rejected by state
The state Insurance Division has denied a 16 percent workers' compensation rate increase filed by the National Council on Compensation Insurance.State Insurance Commissioner Wayne Metcalf said yesterday that the request would have increased workers' comp rates in Hawaii by $24 million.
"The NCCI filing did not adequately take into account the fact that Hawaii workers' compensation claim experience has been more favorable than in other states," Metcalf said.
"The NCCI filing appears to be asking Hawaii businesses to help recoup the industry's losses on the mainland," he said. "This is not fair to Hawaii businesses."
NCCI is a workers' comp rating organization that submits filings for loss cost rates for all insurance companies in Hawaii. The organization will have to submit a new filing based to a greater extent upon Hawaii's loss experience, the Insurance Division said.
Castle & Cooke puts comps online
Hawaii homeowners who want to turn their contact information over to Castle & Cooke Realty Inc. can obtain a free estimate of the value of their home at its Web site, www.castlecookerealty.com.The evaluations, which are promised within three business days, are based on comparable area sales and the available listings in the same neighborhood.
"It's very important for homeowners to keep abreast of the estimated value of their home whether they are considering selling or not," said Mark-Allen DeCastro, principal broker of Castle & Cooke Realty. "After all, a home is usually a person's biggest investment."
Visitors to the Web site also can sign up for free home buyer seminars or link to a mortgage pre-approval page on Castle & Cooke Homes Hawaii Inc.'s site, www.castle-cooke.com.
MAINLAND
United pilot leadership OKs pay cut
Chicago >> UAL Corp.'s United Airlines last night won the tentative consent of its pilots' union to cut labor costs by $2.2 billion over the next five to six years as the second-largest U.S. carrier tries to avoid bankruptcy."While this is a painful decision that will require sacrifices from all United pilots, it is an agreement that paves the way for United to maintain its position as a leader in the airline industry," said Captain Paul Whiteford, chairman of the Master Executive Council of the United Air Line Pilots Association, in a statement released by Business News wire service.
Union officials will recommend that its members ratify the airline's cost-cutting plan, the statement said. It didn't say when a vote would be held, or give any details of the agreement.
The pilots and other unions at the airline have been negotiating with the company on how to achieve $5.8 billion in labor savings over 5 1/2 years. UAL has said it needs to cut costs to win a federal loan guarantee that will help it pay $945 million of debt before yearend.
Dock lockout didn't affect jobs data
WASHINGTON >> An analyst at the U.S. Labor Department said yesterday there was no impact on the October jobs report from the West Coast ports lockout."Those folks were on payroll during the survey reference period," Tom Nardone, a Labor Department analyst, said.
"There's not impact there," he added.
A shutdown of 29 ports on the West Coast ended early last month when the Bush administration secured an emergency court order, forcing the docks to reopen for an 80-day cooling off period.
