Mortgage rates decline to 5.09%

WASHINGTON » Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month's record lows.

The average rate on a 30-year fixed mortgage was 5.09 percent this week, down from 5.14 percent a week earlier, mortgage company Freddie Mac said yesterday.

Rates dropped to a record low of 4.71 percent in early December but then rose steadily for the rest of the month.

The average rate on a 15-year fixed-rate mortgage fell to 4.5 percent, down from 4.54 percent last week, according to Freddie Mac.

Rates on one-year, adjustable-rate mortgages fell to 4.31 percent from 4.33 percent.

Neighbor isle electricity rates rise

Oahu household electricity rates should remain steady in January, although Maui and the Big Island are expected to see a more than 5 percent jump this month.

The average household electricity bill (600 kilowatt-hours per month) for Oahu will drop just 9 cents to $145.

But on Maui the average household bill will jump 6.4 percent to $176.64, compared with $165.25 the previous month.

The average household bill on the Big Island, meanwhile, is expected to jump 5.4 percent to $210.07 over $199.31 in December.

The effective rates, which include fuel and other charges, for January are at 22.66 cents/kwh for Oahu, 28.10 cents/kwh for Maui and 33.16 cents/kwh for the Big Island.

American Air boosts offer for JAL

DALLAS » American Airlines has dug deeper to save its relationship with Japan Airlines, raising the amount it is willing to invest in the ailing airline to $1.4 billion.

American upped its previous offer by $300 million in a bid to fend off Delta Air Lines Inc. Delta wants to create its own partnership with the Japanese carrier that would operate across the Pacific and throughout Asia.

Delta and its SkyTeam partners have offered JAL $1 billion.

American executives told JAL of its new offer yesterday, according to two people close to the situation in Tokyo. JAL is expected to select a new partner as soon as next week.

Pacific Beach injunction sought

Attorneys for the National Labor Relations Board filed a petition for an injunction against HTH Corp., the parent of Pacific Beach Hotel, in U.S. District Court yesterday.

Besides HTH Corp, the suit also names Pacific Beach Corp. and Koa Management LLC as defendants.

The suit seeks temporary injunctive relief, saying substantial and irreparable harm would result to employees and their right to organize while the case goes through the court system.

In September, an administrative judge ruled in favor of ILWU Local 142 on charges dating back to 2007 over the union's right to represent workers.

The judge gave the hotel 14 days to reinstate jobs for seven union negotiating committee members with back pay.

The hotel, however, said it would file an appeal, saying the union lacked the support of a majority of hotel employees. The petition asks the court to issue an order reinstating the seven employees to their former job positions.

Dengue vaccine study hits milestone

Hawaii Biotech Inc. has completed recruitment and dosing in a multiple-dose Phase 1 clinical study of its monovalent vaccine for the dengue fever virus.

The study is under way at the St. Louis University Center for Vaccine Development. Preliminary safety results and immunologic data from healthy volunteers given three doses will be available later in the quarter, said Elliot Parks, president and chief executive officer, in a statement.

The company, progressing through Chapter 11 bankruptcy in Honolulu, is developing the vaccine to provide immunity to its recipients.

HawTel Endorses paperless billing

Hawaiian Telcom is encouraging its customers to sign up for paperless billing by March 31, and offering those who do a chance to win a $500 Visa gift card.

Customers who sign up for recurring automatic bill payment will double their chances of winning. There will be one residential and one business winner.

HawTel says that paperless billing is more environmentally friendly because it reduces waste, as well as printing and mailing costs.

ON THE MOVE

Outrigger Enterprises Group has announced the promotion of Teri Orton to vice president in condominium resort marketing for the Outrigger Condominium Collection from director of sales and marketing for Embassy Suites-Waikiki Beach Walk. She has been general manager of the Ohana Islander Waikiki hotel, regional general manager and resort operations/asset manager for Anekona Development and general manager of the former W Honolulu-Diamond Head hotel.

AlohaCare has promoted Susie Nguyen to public relations manager from communications and public relations team leader. Her experience includes being public relations associate for the company.