Target to open Wednesday in Kona

Target is set to open its store at Kona Commons on the Big Island, its third in the state.

The 160,000-square-foot store debuts Wednesday, with a grand-opening celebration scheduled for July 26. About 300 people were hired to work at the Kona Target store.

Target Corp. of Minneapolis opened its first two stores in Hawaii at Salt Lake and Kapolei on Oahu in September.

Hawaii right-to-dry act becomes law

Owners of single-family homes and townhomes will now be able to line-dry their laundry due to the passage of a bill known as the “;right to dry act.”;

Senate Bill 1338 became law Wednesday without Gov. Linda Lingle's signature, and gives homeowners the right to hang their laundry on a line despite restrictions by homeowner association rules. The bill, however, does allow the associations to reasonably restrict their placement and use. Last year, Lingle vetoed a similar version of the bill.

Dish Network, 46 states settle charges

Dish Network Corp. said yesterday it agreed to pay nearly $6 million to settle charges that it improperly marketed, promoted and sold its products and services.

Although the satellite TV provider isn't admitting any wrongdoing in settling with the attorneys general in 46 states, including Hawaii, it agreed to pay restitution to affected customers and make fuller disclosures in advertising and written contracts.

State officials say Dish failed to disclose all the terms of service to customers, including rebates, credits and free offers. The states say Dish refused to take responsibility when customers were misled by service resellers and equipment installers.

CIT shares fall after bailout denied

NEW YORK » Denied a federal bailout, CIT Group Inc. saw its shares plunge 75 percent to 41 cents yesterday as bondholders scrambled to find an 11th-hour solution that would keep the commercial lender out of bankruptcy protection.

But there is no guarantee they will be able to save the ailing company, which teeters on the brink after failing to get emergency government funding. CIT said late Wednesday that talks with regulators about a possible rescue had broken off after days of round-the-clock negotiations.

Analysts said the move marked a defining moment for the Obama administration and showed it's drawing a line in the sand on federal rescues for troubled financial firms.

U.S. unemployment claims decline

WASHINGTON » The number of newly laid-off Americans signing up for unemployment benefits, and those using this safety net over a longer period, both plunged last week, the U.S. Labor Department reported yesterday, though the figures were clouded by difficulties adjusting for temporary shutdowns at auto plants.

The department said new applications for unemployment insurance dropped by a seasonally adjusted 47,000 to 522,000, the lowest level since early January.

Even if the recession ends this year as the Federal Reserve and many private economists expect, companies are expected to keep trimming payrolls.

On the move

Prudential Locations has hired the following as Realtor associates:

» Hiromi Kawasaki, who has 20 years of real estate experience and is the former owner of Kawasaki Realty.

» Cris Leong, who has three years of real estate experience.

» Mary McClafin, who has more than 20 years of experience with single-family homes, rental properties and large-lots sub-divisions.

» Dene DeCambra, an experienced real estate agent who previously worked for Ivy K. Realty.

Allana Buick & Bers, architectural engineering, said Ryan Meyer and Debbie Espino have received LEED Accredited Professional certification by the U.S. Green Building Council.