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Isle gas prices lead the nation

Hawaii this month regained the distinction of having the highest gasoline prices in the nation.

While pump prices nationwide have gradually fallen from all-time highs reached last month, yesterday's average in Hawaii was $2.344, up slightly from $2.341 a month ago. It's less than two cents off its record $2.36 set June 1, according to AAA.

Hawaii overtook California for the top spot. California, which led the nation for several months this year, posted a $2.277 average yesterday, down from its record $2.368 on June 1.

The average price was $2.246 per gallon in Honolulu, $2.387 in Hilo and $2.649 in Wailuku, according to AAA.

The national average of $1.92 a gallon was down 13 cents from its record levels.

Mediation center seeks awardees

The Mediation Center of the Pacific Inc. is taking nominations for its annual "collaborative leader" awards, which recognize people who help foster a climate of cooperation and consensus in Hawaii's business community.

Those selected will be recognized at the second annual Celebration of Natural Collaborative Leaders dinner on Nov. 5 at the Kahala Mandarin Oriental Hotel.

Nomination forms can be obtained from the center by calling 521-6767. The deadline for nominations is July 15.

United Air to seek wage, job cuts

United Airlines' third attempt to get a package of government loan guarantees failed yesterday, and it will not get a fourth chance.

United, the nation's second-largest airline, now faces the daunting task of emerging from Chapter 11 bankruptcy protection without the federal aid it was counting on. To persuade lenders and investors to put up the money it needs, the airline is expected to turn to its workers for new cuts in jobs, wages and benefits on a scale approaching the $2.5 billion a year that they have already accepted since the airline filed for bankruptcy in 2002.

The 3-0 vote by the Air Transportation Stabilization Board ended nearly two years of efforts by United to secure loan guarantees. The board was created in the wake of the Sept. 11, 2001, attacks to help stabilize the aviation industry, but analysts said the decision to shut the door on United might instead touch off a fresh round of turmoil in the industry.

Time not right to raise Japan's interest rates

Prime Minister Junichiro Koizumi said conditions are not yet right for the Bank of Japan to end its policy of keeping interest rates close to zero.

"The timing is not yet right for a change in policy," Koizumi said in an interview with TV Tokyo to be broadcast on Thursday. "Companies should take advantage of the low rates."

The central bank pushed overnight loan rates close to zero by raising its target for reserves available to lenders in March 2001, aimed at halting deflation and spurring economic growth.

It has pledged to maintain the policy until nationwide core consumer prices, which exclude fresh food, stop falling at least for a few months and it ensures prices won't resume sliding.