BIA expo attendance declines 7 percent

The seventh annual Building Industry Association Remodel It Right, Remodel It Green Expo, held Friday through Sunday at the Hawai‘i Convention Center, attracted a crowd of 7,696, down 7 percent from 8,297 in 2010.

The top categories of interest were photovoltaics, kitchens and bathrooms, followed by windows, Energy Star appliances and green products that save people money with lower utility bills, rebates and tax credits.

“Since approximately 60 percent of Oahu homes are more than 50 years old and could benefit from a remodeling project, we are very committed to this building industry consumer event that is designed to educate homeowners in a collaborative environment,” BIA-Hawaii CEO Karen Nakamura said.

Nordstrom ends online shipping charges

LOS ANGELES » With more consumers turning online to shop, Nordstrom Inc. has begun offering free standard shipping for all online purchases and returns, regardless of how much buyers spend.

The upscale department store chain previously offered free shipping for online orders of $200 or more, or through promotional offers. The new policy applies to Nordstrom.com orders shipped within the U.S. and to items customers send back.

Many shoppers and retail analysts say the cost of shipping is one of the biggest drawbacks of shopping online, along with not being able to handle products in person and having to wait for purchases to arrive.

“Free shipping is reflective of how customers increasingly want to shop online, and we hope this change makes it easier and more convenient to shop with us,” said Jamie Nordstrom, president of Nordstrom Direct.

Japan’s jobless rate climbs to 4.7% in July

TOKYO » Japan’s unemployment rate rose for the second straight month in July while household spending fell, the government said today.

The seasonally adjusted unemployment rate climbed to 4.7 percent in July, edging up from 4.6 percent in June.

The result reflects the fragility of the world’s No. 3 economy, which is wrestling with a strong yen and an increasingly uncertain outlook for the global economy.

The yen hit a post World-War II high against the dollar earlier this month, and is a major worry for Japan’s export-led economy. A strong yen erodes the value of exporters’ repatriated profits and makes their products less price competitive in overseas markets.

Contracts to purchase homes dip in July

WASHINGTON » The number of people who signed contracts to buy homes fell in July, further evidence that the depressed housing market remains a drag on the economy.

The National Association of Realtors said Monday that its index of sales agreements fell 1.3 percent in July to a reading of 89.7. A reading of 100 is considered healthy by economists. The last time the index reached that level was in April 2010, the final month that buyers could qualify for a federal tax credit.

Contract signings are usually a reliable indicator of where the housing market is headed.

Labor economist signs on to Obama’s team

WASHINGTON » Facing a public deeply dissatisfied with his handling of the economy, President Barack Obama on Monday tapped a prominent labor economist to join his cadre of advisers and help steer a fall jobs agenda that will be critical to the president’s re-election bid.

In nominating Alan Krueger as chair of the White House Council of Economic Advisers, Obama gains an economist with expertise in the labor market and unemployment,

a key drag on the U.S. economy and Obama’s presidency. Krueger, a former Treasury Department official and Princeton University economist, has advocated for hiring tax credits for businesses and increased government spending on infrastructure, two programs Obama aides are considering proposing this fall.

Greek banks to form country’s No. 1 lender

ATHENS, Greece » Greece’s second and third largest lenders, Eurobank and Alpha Bank, on Monday announced plans to merge to better withstand the country’s acute financial crisis.

The widely anticipated move would create Greece’s biggest bank, and will see a $720 million, or a 500 million euro investment from a Qatari investment fund, Paramount Services Holding Ltd., officials from the two banks said.

The deal was immediately welcomed by the country’s Socialist government and caused shares to surge on the Athens Stock Exchange. The banking sector as a whole closed the day 27 percent higher with National Bank of Greece, the country’s largest lender, posting a 29 percent gain. The benchmark General Index in Athens ended 14.4 percent higher at 1,006.59, rebounding past the 1,000-point threshold just one session after falling to a 15-year low under 900 points.

Greece is in the throes of a major financial crisis, and only avoided bankruptcy after two international bailouts over the past two years, worth a combined total of $315 billion or 219 billion euro.

ON THE MOVE

The Hawaii Employers Council has appointed Ken Kawamoto as director of Negotiations Services. He has more than 25 years of experience in labor relations and human resource management.

Miki Yoshida has joined JN Exotics-La Collezione as a sales executive. She has been in the luxury auto business in Hawaii for 16 years. Yoshida represents, among others, Maserati, Bentley, Lotus, Ferrari, Lamborghini and Audi.

Chris Gampon has been appointed general manager of the Outrigger Kiahuna Plantation on Kauai, according to an announcement by Steven Winter, vice president of operations for Outrigger Enterprises Group’s Condominium Division. Gampon was general manager of the Banyan Harbor Resort on Kauai and Diamond Head Resorts International in Poipu, Kauai.

Joy Gold has been named the new interim executive director of the Hawaii Farm Bureau Federation. She has been the president and owner of Joy Gold Unlimited for 14 years.

» The federation has also promoted Brian Miyamoto to chief operating officer from director of communications. He has been with the organization since 2005 and is now responsible for day-to-day operations.