Rates dropping for State Farm

State Farm Mutual Automobile Insurance Co. is dropping its overall rate level by about 5.2 percent for Hawaii customers.

Premiums for the collision and comprehensive coverages are decreasing. Liability and personal injury protection coverages will go up for some and down for others. State Farm's overall rate level in Hawaii will be 23.9 percent lower than it was more than six years ago, according to a company statement.

Isles rank high in late accounts

Hawaii is ninth among the states that have the highest percentages of past-due accounts receivable for business, according to a list released by commercial credit bureau Cortera.

According to the list, as of December, 18.05 percent of Hawaii business accounts receivable were past due.

Oregon topped the list of most delinquent states, with 20.85 percent of accounts past due, followed by Wisconsin, New Mexico, Florida, Minnesota, Nevada, Michigan, New York, then Tennessee after Hawaii. Alaska was the lowest, with 6.32 percent.

The Cortera Past Due by State report tracks late payments against agreed-upon terms, measuring the percentage of late accounts receivable by state. The full report is available on Cortera's site, www.cortera.com.

Waipahu housing units to go on sale

Units at the Waipahu-area Plantation Town Apartments will be marketed for sale this weekend.

The project, located at 94-302 Paiwa St., is a result of CMKLV Inc.'s partnership with the state Housing Finance and Development Corp. It is a $71 million project to provide affordable housing in Waipahu. The only requirement for application is proof of residency and that the owner must be an adult and live in the unit.

The complex has 138 units still available, with starting prices ranging from $146,000 to $296,000. Sales begin at 2 p.m. tomorrow. For more information, visit www.hihltd.com/plantation.

A&B keeps dividend at 31.5 cents

Alexander & Baldwin Inc. said yesterday it would maintain its quarterly dividend at 31.5 cents.

It will be payable on March 4 to shareholders of record as of the close of business on Feb. 11. The company will report its fourth-quarter and full-year earnings on Wednesday.

Former Broadcom CEO cleared

SANTA ANA, Calif. » A federal judge tossed out a raft of felony narcotics charges against Broadcom Corp.'s co-founder and former chief executive officer yesterday, ending an embarrassment for prosecutors that grabbed headlines with allegations of prostitutes and drug stashes but ultimately withered under the court's critical eye.

Henry T. Nicholas III smiled and hugged his supporters outside court and said he felt vindicated after two years of prosecution on the drug case and a parallel securities fraud case that accused him and his technology company's former chief financial officer of improperly backdating stock options.

Time Warner lowers outlook

Time Warner Cable Inc. reported a profit for the fourth quarter yesterday, but the economy was still weighing on its customers, who cut back on their subscriptions of premium movie channels and ordered fewer videos on demand.

The nation's second-largest cable TV provider also said it will start paying a quarterly dividend of 40 cents per share. Time Warner Cable continues to lose video subscribers and now expects 2010 earnings of $3.25 to $3.50 a share, which is less than the $3.60 analysts had been forecasting.

Time Warner Cable earned $322 million in the fourth quarter versus a loss of $8.16 billion in the year-ago period.

ON THE MOVE

Graham Builders has promoted Evan Fujimoto to president from vice president of operations. He has 20 years' experience in the construction industry, including working in marketing and environmental planning at Mobil Oil in Japan.

Properties of the Pacific said that Herwin Hung received “;Top Producer, Top Salesperson for 2009,”; Sandra M. Mann received “;Top Lister for 2009”; and Sharon Au was awarded the National Association of Realtors Green Designation.