HAWAII

Monarch Insurance buys isle insurer

Monarch Insurance Services Inc. said yesterday it has purchased Bishop Insurance Agency, a division of American Savings Bank, for an undisclosed amount. The sale is expected to close today.

Employment will be offered to some current Bishop employees, and branches will maintained based on those serving larger numbers of customers, the company said in a statement yesterday.

Monarch is a property and casualty broker with offices in four states. Bishop was bought by American Savings in March 2001.

Isle tax form calculates automatically

The state Department of Taxation said yesterday that starting Monday, the Web-fillable and electronic versions of the general excise periodic tax return form G-45 will perform math calculations for the taxpayer. The user needs to full in the necessary information, with the program performing automatic calculations.

To file the form electronically, visit http://www.hawaii.gov/tax and click on “;e-services.”; To complete the Web-fillable form, click on the “;forms”; link, and search for General Excise / Use Tax Return (Rev. 2008-calculated) under the “;alphabetical list”; link.

Booklets may still be ordered by calling 587-4242.

NATION

Federal contract protests jump

WASHINGTON » There were more challenges to federal contracts in 2008 than any year in the past decade, as companies fought over fewer multibillion-dollar projects.

While federal auditors found errors in very few of the government's decisions, over $70 billion in defense contracts alone were delayed this year due to losing bidders lodging protests.

Judge rules against WaMu request

WILMINGTON, Del. » A federal bankruptcy judge yesterday denied a request by Washington Mutual Inc. to keep details of certain asset sales secret.

WaMu, which filed for Chapter 11 reorganization in September, wants to sell certain equity holdings and interests in venture capital funds to generate value for the company and its creditors. The Seattle-based thrift was the biggest bank to collapse in U.S. history, with about $307 billion in assets.

Top SEC accountant to leave

WASHINGTON » The top accountant in the Securities and Exchange Commission's enforcement branch is leaving for a private sector job next month, in what could herald a wave of departures from the embattled agency.

The SEC said yesterday that Susan Markel, chief accountant in the agency's division of enforcement, is taking a job in the corporate investigations practice of AlixPartners LLP, a turnaround consulting firm.

Investors drop pipeline project

DENVER » The credit crunch has prompted some investors to withdraw from construction of a natural gas pipeline in northwestern Colorado.

Enterprise Products Partners and Quicksilver Gas Services have terminated plans for a 50 percent stake in TransCanada's $2 billion Pathfinder pipeline project. The 673-mile pipeline would run from Colorado to North Dakota where it would link to a major system in the Midwest.

Merrill Lynch executive to exit

Merrill Lynch & Co. Vice Chairman Jeffrey Edwards is leaving in January to pursue other interests, President Greg Fleming said yesterday in a memo. Edwards, 47, has worked at Merrill Lynch for 22 years, including as chief financial officer, Fleming said.