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HAWAII
Affordable rentals to be built on Maui

Maryl Pacific Construction plans to build four 90-unit affordable condominium buildings on three acres in Honokawai, Maui.

The 850-square-foot units will rent for an estimated $575 to $675 a month. The project, projected to cost more than $15 million, is to be called West Maui Breakers. It is scheduled for completion in about 18 months.

Hawaiian chamber gives awards

A former judge and two feather lei artisans received Oo awards yesterday from the Native Hawaiian Chamber of Commerce.

Thomas Kaulukukui, chairman of the trustees of the Queen Liliuokalani Trust and a former judge, Aunty Mary Lou Kekuewa and her daughter Paulette Kahalepuna received the awards last night at the Hyatt Regency Resort in Waikiki.

The awards recognize business professionals who have excelled in the community and shown creativity, skill, industry and motivation.

NATION
Average CEO makes nearly $10M

NEW YORK » CEO pay is climbing again, rewarding top executives with the biggest gains many have seen since the stock market bubble.

The executives piloting U.S. companies pocketed substantially more in 2004 than in the previous two years. Those gains come even as more corporate boards -- responding to sustained criticism about excessive pay -- rethink the way they award compensation, trying to more closely tie CEO pay to performance.

Chief executives' pay increased by an average of 12.6 percent last year, according to an analysis of nearly 180 corporate proxy statements by compensation consulting firm Pearl Meyer & Partners. That figure does not include the profits many CEOs reaped by exercising stock options.

The jump in pay takes the average CEO's compensation to $9.97 million, resuming a long-running rise in pay after two years of little movement.

WORLD
Web as popular as radio in Britain

LONDON » Advertisers need to go where consumers are, and increasingly, consumers are in front of their computers.

In a trend that may soon be replicated in the United States, studies in Britain show that people with Internet access now spend as much time online as listening to the radio, and twice as much time on the Web as reading newspapers and magazines.

The shift is tied to the rapid adoption of high-speed connections, and advertisers are responding by making online video a major part of new campaigns.

Online advertising expenditures in Britain skyrocketed by 60 percent last year, to about $1.2 billion. Online now accounts for 3.9 percent of total ad spending, squeaking past radio and outdoor advertising.

Now, there are signs that the same trend is stirring in the United States. After peaking in 2000 at $6.5 billion, online advertising suffered from the dot-com slump. But last year, online ad expenditures in the United States jumped by 21 percent to $7.4 billion, dwarfing the 9.8 percent gain posted by the sector over all.