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Business Briefs
For Saturday, November 15, 2008
POSTED: 01:30 a.m. HST, Nov 15, 2008
Isle gas prices in rapid decline
Gasoline prices experienced the seventh-straight week of double-digit declines throughout Hawaii and dropped to less than $3 a gallon in Honolulu. The statewide average also declined by 19 cents to $3.07 a gallon for regular unleaded, according to AAA.Yesterday's average price in Honolulu was $2.96 a gallon for unleaded, 91 cents less than last month, and 27 cents lower than this time last year. In Hilo, the average price was $3.20 a gallon, 84 cents less than last month, and seven cents lower than last year. The average price in Wailuku was $3.50 a gallon, down 82 cents from last month, and 12 cents lower than last year.
"This is continued great news for consumers and a good outlook heading toward the upcoming Thanksgiving holiday," AAA Hawaii Regional Manager Richard Velazquez said in a statement. "The price of oil fell under $60 a barrel for the first time this week which could bring us more dramatic relief."
Hoshide wins Kona coffee award
Big Island coffee grower Debbie Hoshide has won the 22nd annual Kona Coffee Cupping Competition, the signature event of the Kona Coffee Cultural Festival.Each farmer submitted a 50-pound sample from which five pounds were entered into the cupping competition. Of the 56 entries, 16 were selected as finalists.
Hoshide inherited her seven-acre Honaunau farm from her mother.
Castle Group reports quarterly loss
Castle Group Inc., the parent company of Honolulu-based Castle Resorts & Hotels, said yesterday that it posted a net loss of $120,519 in the third quarter, compared to a net income of $15,323 a year ago.Revenue for the quarter decreased 16 percent to $4.7 million from $5.6 million a year ago from continued decreases in occupancy and room rates because of the slumping isle tourism market.
Operating expenses decreased 11 percent year over year to $4.8 million from $5.4 million.
Mauna Kea Beach Hotel to reopen
Following an extensive multi-million dollar restoration, the Mauna Kea Beach Hotel will reopen on Dec. 20. The hotel initially opened in 1965.The date represents a soft opening to ease the hotel back into operations after two years of being closed. Many long-time Mauna Kea employees have been hired back, the hotel said this week in a statement. A formal grand opening will be held in March.
Mauna Kea's owners closed the hotel in Dec. 2006 following an earthquake centered close to the Big Island.
New amenities at the hotel include a spa and newly refurbished guest rooms. The total room and suite count has been reduced from 310 to 258 as a result of rooms being enlarged in the main building.
Hawaiian Electric holding job fair
Hawaiian Electric Co. is holding its first-ever engineering and information technology career fair on Thursday from 11 a.m. to 7 p.m. The career fair will be held at the Kakaako Conference Center, located on the second floor of the Ward Warehouse shopping center."We have current openings for electrical, mechanical, civil/structural, renewable energy, and systems engineers, as well as IT development analysts," said Faye Chiogioji, manager of Hawaiian Electric's Workforce Staffing and Development department.
Hawaiian Electric engineering and IT staff members will be available to answer questions and will conduct brief informational sessions throughout the day.
Isle gas prices in rapid decline
Gasoline prices experienced the seventh-straight week of double-digit declines throughout Hawaii and dropped to less than $3 a gallon in Honolulu. The statewide average also declined by 19 cents to $3.07 a gallon for regular unleaded, according to AAA.
Yesterday's average price in Honolulu was $2.96 a gallon for unleaded, 91 cents less than last month, and 27 cents lower than this time last year. In Hilo, the average price was $3.20 a gallon, 84 cents less than last month, and seven cents lower than last year. The average price in Wailuku was $3.50 a gallon, down 82 cents from last month, and 12 cents lower than last year.
"This is continued great news for consumers and a good outlook heading toward the upcoming Thanksgiving holiday," AAA Hawaii Regional Manager Richard Velazquez said in a statement. "The price of oil fell under $60 a barrel for the first time this week which could bring us more dramatic relief."
Hoshide wins Kona coffee award
Big Island coffee grower Debbie Hoshide has won the 22nd annual Kona Coffee Cupping Competition, the signature event of the Kona Coffee Cultural Festival.Each farmer submitted a 50-pound sample from which five pounds were entered into the cupping competition. Of the 56 entries, 16 were selected as finalists.
Hoshide inherited her seven-acre Honaunau farm from her mother.
Castle Group reports quarterly loss
Castle Group Inc., the parent company of Honolulu-based Castle Resorts & Hotels, said yesterday that it posted a net loss of $120,519 in the third quarter, compared to a net income of $15,323 a year ago.Revenue for the quarter decreased 16 percent to $4.7 million from $5.6 million a year ago from continued decreases in occupancy and room rates because of the slumping isle tourism market.
Operating expenses decreased 11 percent year over year to $4.8 million from $5.4 million.
Mauna Kea Beach Hotel to reopen
Following an extensive multi-million dollar restoration, the Mauna Kea Beach Hotel will reopen on Dec. 20. The hotel initially opened in 1965.The date represents a soft opening to ease the hotel back into operations after two years of being closed. Many long-time Mauna Kea employees have been hired back, the hotel said this week in a statement. A formal grand opening will be held in March.
Mauna Kea's owners closed the hotel in Dec. 2006 following an earthquake centered close to the Big Island.
New amenities at the hotel include a spa and newly refurbished guest rooms. The total room and suite count has been reduced from 310 to 258 as a result of rooms being enlarged in the main building.
Hawaiian Electric holding job fair
Hawaiian Electric Co. is holding its first-ever engineering and information technology career fair on Thursday from 11 a.m. to 7 p.m. The career fair will be held at the Kakaako Conference Center, located on the second floor of the Ward Warehouse shopping center."We have current openings for electrical, mechanical, civil/structural, renewable energy, and systems engineers, as well as IT development analysts," said Faye Chiogioji, manager of Hawaiian Electric's Workforce Staffing and Development department.
Hawaiian Electric engineering and IT staff members will be available to answer questions and will conduct brief informational sessions throughout the day.
Today’s Edition
- Damien celebrations draw to a close
- Calls for tax hike piling on reluctant lawmaker
- Retailers on guard as crooks ram vehicles into properties
- County pandemic plans to apply to overall state response strategy
- State welfare payouts drop as numbers of needy grow
- Earlier primary voting considered
- Whatever Happened To: Case of baby who died in Customs heads to trial after failure to settle
- Newswatch
- Police and Fire
- Shining Stars
- Vital Statistics
- What's open and closed on Veterans Day
- Trouble in Paradise
- Windfall is seen as bank bonuses are paid in stock
- Overweight Americans push back in the health care debate
- Handmade: Make your presence felt with 'Felties'
- Drawing attention
- Da Kine
- Scrivener's Sudoku: Army Community Hawaii
- Murakami's Calabash
- Warriors find winning formula
- Feeding frenzy for UH backs
- Porous run defense deflates Utah State
- Short snaps: UH vs. Utah State
- Further Review: Old-school running game keyed UH's feel-good win
- Amis out indefinitely with foot injury
- UH's Lee lifts Hawaii's spirit
- Farrington finds a way
- 'Iolani rolls Damien to prepare for states
- Hawaii Beat
- Scoreboard
- Television & Radio
- New kite business takes off
- Business briefs
- It's not too late to cut tax liability
- Hawaii Real Estate Sales
- Tracking Hawaii's student stock pickers
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