Young Bros. cuts ports’ operating hours
Interisland ocean cargo transportation firm Young Bros. announced Wednesday that it will reduce operating hours at five Hawaii ports due to weak business expectations and a projected operating loss this year.
The cost-cutting measure will go into effect Aug. 22, and shrink hours that customers can drop off or pick up cargo on certain days of the week in Honolulu, Kahului, Hilo, Nawiliwili and Kawaihae.
The changes, which overall equate to a 19 percent reduction in port operating hours for Young Bros., are being implemented one day a week in Kahului and two days a week in Honolulu, Hilo, Nawiliwili and Kawaihae.
No changes are being made to the frequency of Young Bros. sailings 12 times a week from Honolulu to neighbor island ports. A breakdown of the changes can be found at htbyb.com.
Tokio Marine buys rest of First Insurance
The Japanese company that owns half of First Insurance Co. of Hawaii Ltd., which celebrated its 100th anniversary Thursday, is buying the remaining 50 percent of the local business for $165 million.
Tokio Marine Holdings Inc. is buying the stake from its partner, Chicago-based CNA Financial Corp., parent company of Continental Insurance Co. The sale is subject to regulatory approval and expected to close in the fourth quarter. A sale will not affect First Insurance’s more than 300 employees, brand or services.
"This sale is another step in streamlining our operations and focusing on our core strategies," said Tom Motamed, CNA’s chairman and chief executive officer. "We believe it is an excellent transaction for both parties, and we are grateful for our many years of partnership with Tokio Marine."
The Hawaii company, which has been in business since 1911, provides property and casualty insurance. The partners have each owned 50 percent of the company since 1999.
Hawaii Data Book available online now
The 2010 edition of the State of Hawaii Data Book is now available on the website of the Department of Business, Economic Development and Tourism.
The Data Book can be accessed at www.hawaii.gov/dbedt.
The state’s Data Book is the most comprehensive statistical book about Hawaii in a single compilation. With 800 data tables, it covers a broad range of statistical information in areas such as population, education, labor, energy, business enterprises, government, tourism and transportation.
"Our Data Book is a valuable tool for business planners, researchers, policymakers and anyone who wants or needs to know more about trends and data related to Hawaii," said DBEDT Director Richard Lim.
Queen’s, Hawaii Pacific Health share data
The Queen’s Medical Center and Hawaii Pacific Health will share patient health information among five hospitals to coordinate patient care.
The state’s largest private hospital systems said Thursday the move is intended to "improve patient care through the electronic sharing of patient health information."
Doctors at Queen’s and four hospitals under Hawaii Pacific Health — Kapiolani Medical Center for Women & Children, Straub Clinic & Hospital, Pali Momi Medical Center and Wilcox Memorial Hospital on Kauai — will virtually collaborate on treatments and electronically share information of a patient’s medical history, previous diagnoses, lab tests, medications and allergies via a secure system.
The system is intended to save time for patients, improve quality and reduce duplication of services. Patients can choose to opt out of the system or require consent be obtained for the release of information.
Hawaii Health Information Exchange recently received a $5.6 million grant to develop a statewide system beginning in 2012.
30-year rates fall again, near record low
WASHINGTON » Fixed mortgage rates fell to at or near record lows. That’s good news for the few who can afford to buy a home or are able to refinance. But the rates have done little to lift the ailing housing market.
Freddie Mac said Thursday that the average rate for the 30-year fixed mortgage fell to 4.32 percent this week from 4.39 percent. The 30-year loan hit a record low of 4.17 percent in mid-November.
The average rate on a 15-year fixed mortgage, a popular refinancing option, fell to a record low of 3.50 percent from last week’s record rate of 3.54 percent
ON THE MOVE
Coldwell Banker Pacific Properties has announced the following new members:
» Robert J. Grabau as a Realtor associate for the New Agent Training Office. He was previously working in time-share sales with Marriott Vacation Club International Inc.
» Rose Bernas as sales coordinator for the King Street office. She was previously a customer service agent at Advantage Rent-a-Car and also worked as a real estate agent and notary public in Brentwood, Calif.
Ameriprise Financial has announced Livingston M. Takane as a financial adviser. He previously worked at Morgan Stanley Smith Barney.
