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[ FAST FACTS HAWAII ]

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Workers' comp claims decline

The number of workers' compensation claims in Hawaii fell 8.4 percent last year from the previous year, according to a report released yesterday by the state Department of Labor and Industrial Relations.

The report indicated an apparent trend of decreased workplace injuries. In 2003, claims fell 3.7 percent from 2002.

"During the past several years, we have seen more and more of Hawaii's companies and labor organizations investing their valuable resources, time and money to build and maintain exemplary safety programs," said state Labor Director Nelson Befitel.

In a separate report, workers' comp insurance "loss costs" dropped 18.2 percent in 2003 from the previous year, according to the state Department of Commerce and Consumer Affairs. Loss costs are a significant component of premiums and represent the amounts paid for claims by insurers.

The reduction in loss costs will affect premiums beginning next year.

Kakaako project lifts A&B's stock

Alexander & Baldwin Inc., whose real estate subsidiary was selected Wednesday as the master planner for a $650 million waterfront redevelopment project at Kakaako, saw its stock jump $1.51, or 3.1 percent, to $50.57 yesterday on the Nasdaq Stock Market.

The company also was rated "outperform" in new coverage by analyst Sheila K. McGrath of Ryan Beck & Co. McGrath set a 12- to 18-month price target of $64.

Analysts push Hoku Scientific

Hoku Scientific Inc., a Kapolei-based fuel-cell technology developer that went public last month, received its first analyst coverage yesterday and was rated "outperform" by both Kevin Monroe of Thomas Weisel Partners LLC and Jesse Pichel of Piper Jaffray & Co. Thomas Weisel and Piper Jaffray were two of the three underwriters of Hoku's initial public offering. The stock jumped $1.48, or 24.2 percent, to $7.60 yesterday on the Nasdaq.

Rates rise for first time in 5 weeks

WASHINGTON » Rates on 30-year mortgages rose for the first time in five weeks as investors awaited word from next week's meeting of the Federal Reserve on the future direction of mortgage rates.

Mortgage giant Freddie Mac reported yesterday that the nationwide average for rates on 30-year, fixed-rate mortgages rose this week to 5.74 percent, up from 5.71 percent last week. Rates on 15-year, fixed-rate mortgages averaged 5.32 percent this week, up from 5.30 percent One-year adjustable rate mortgages rose to 4.46 percent from 4.45 percent.