HEI encourages firms to grow
Hawaiian Electric Co. wants to provide an electricity rate discount to new or expanding businesses on Oahu as a way of encouraging economic development. The plan will go into effect Dec. 5 unless it is rejected by the Public Utilities Commission.To qualify, businesses must expand into or establish new facilities that need at least 25 kilowatts of power, roughly what it takes to run six to eight homes. They also must be able to demonstrate that lower electricity costs played a part in the decision open new facilities. Those meeting all criteria will get a discount of 2 cents a kilowatt-hour for the first three years and 1.5 cents for a further two years.
Hawaiian Electric said that would mean a savings of about 17 percent to 19 percent on the new load of power, depending on the rate schedule that applies to the particular business. The average rate for an incremental new load for a small business customer is 12.3 cents per kilowatt-hour.
Hotel manager in Expedia alliance
Castle Resorts & Hotels has partnered with Expedia Inc. to let customers book vacation packages, including air travel and car rentals, on Castle's site www.castleresorts.com on the Web.Castle represents 20 hotels and condominiums in Hawaii, Micronesia and New Zealand.
Nevada gambling revenue up
LAS VEGAS >> Nevada's gambling revenue rose 6.1 percent in September, the biggest gain since February, reflecting a rebound in Las Vegas Strip slot machine revenue from a year earlier, when the terrorist attacks curtailed travel.Nevada's casino winnings rose to $810.1 million from $763.7 million, the state's Gaming Control Board said. Along the Las Vegas Strip, home to the largest casinos including Park Place Entertainment Corp.'s Caesars Palace, revenue rose 7.5 percent to $391.1 million.
Japan GDP jumps, but outlook is poor
TOKYO >> Japan's economy grew more than expected in the third quarter as consumers tapped savings to shop amid optimism that the world's second-biggest economy is recovering.Gross domestic product rose 0.7 percent in the third quarter, seasonally adjusted, from a revised 1 percent gain in the second quarter, the Cabinet Office said. That's more than the 0.5 percent increase predicted in a Bloomberg News survey of 22 economists.
The gain may not be sustainable, economists said, as companies such Advantest Corp. and Hitachi Ltd. slash profit forecasts and lay off workers in anticipation of slumping demand in the United States, Japan's biggest overseas market. Exports, which accounted for more than half of second-quarter growth, rose 0.5 percent in the third quarter.
FCC OKs giant cable TV merger
WASHINGTON >> Comcast Corp. today won permission from the Federal Communications Commission to acquire rival AT&T Broadband for $30.2 billion, creating a pay television giant with about 27 million subscribers.The agency voted 3-1 to allow the No. 3 U.S. cable company Comcast to buy the No. 1 operator AT&T Broadband saying the deal would not pose harm to consumers in any market and would promote the rollout of high-speed Internet service.
"The benefits of this transaction are considerable, the potential harms negligible," FCC Chairman Michael Powell said in a statement. "We therefore conclude that the merger serves the public interest, convenience, and necessity."
The companies have argued the deal's economies of scale will allow them to upgrade their systems faster as well as speed the roll out of digital television signals, high-speed Internet access and competing phone service.
The approval came despite the vociferous opposition of consumer groups, who argued the combined company would reach 40 percent of the cable market, 30 percent of the pay television market and would lead to higher prices.
Internet users plan to buy online for holidays
WASHINGTON >> Nearly three out of four computer users polled are planning to buy at least some of their holiday gifts online, despite concerns about fraud.A survey conducted for the Business Software Alliance, a trade association, showed that 71 percent of U.S. Internet users say they plan to purchase some, most or all of their holiday gifts online this year.
The July survey of 1,094 Internet users across the nation was conducted by research firm Ipsos-Reid.
The survey found that 65 percent planned to buy books and videos, while 53 percent said they would purchase music CDs, and 46 percent planned to buy clothing and accessories.
The survey found that 93 percent of Internet users have made a purchase online; 64 percent said they were more likely than two years ago to shop online.
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[Hawaii Inc.]
NEW JOBS
>> Broadband iTV has hired Bill Maloney as its director of automotive programming. He has worked on advertising accounts for several major automotive brands -- including Pontiac, Chrysler and Dodge -- in 30 years of experience with the automotive industry. BBiTV features on-demand automotive, real estate and travel shopping information on Oceanic Time Warner Digital Channel 326.>> Coldwell Banker Pacific Properties has hired Judy Ahlstrom to manage its Kapiolani office. She will be responsible for the management of personnel and agents, marketing coordination and all day-to-day operations of the office. Ahlstrom was most recently an administrative assistant with Morgan Stanley.
ON THE BOARD
>> Allen Louis Zecha has been elected to Hawaii Pacific University's board of trustees. He is a retired Union Carbide Japan vice president and served on Union Carbide joint-venture boards in Japan and Southeast Asia. He was also president of Medtronic Asia-Pacific.>> The Hawaii Foodbank has appointed five new members to its board of directors: Grace Bible Church Assistant Pastor Cindy Bauer, Times Supermarket Ltd. President Roger Godfrey, Bank of Hawaii Corporate Banking Executive Vice President Peter Ho, Honolulu Star-Bulletin Promotions Organizer and community volunteer Teresa Kendall and Pepsi-Cola Bottling Co. Market Unit General Manager Gary Yoshioka.