30-year mortgage rate stays at record 3.87%

WASHINGTON >> The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance. Mortgage buyer Freddie Mac said the rate on the 30-year home loan was unchanged at 3.87 percent. That’s the lowest level since long-term mortgages began in the 1950s.

The average on the 15-year fixed mortgage was also unchanged at 3.16 percent. That’s up from a record low of 3.14 percent reached two weeks ago. The low rates have done little to boost the struggling housing market. Rates have been below 5 percent for all but two weeks in the past year.

Sunetric sales increased fivefold in 2011

Kailua-based Sunetric, one of Hawaii’s leading renewable energy and solar installation companies, said sales in 2011 rose fivefold to $132 million from a year earlier. Sunetric said it was the company’s strongest year since launching in 2004.

"By focusing on exceptional customer service and the use of the most efficient and affordable photovoltaic modules, we anticipate continued strength in 2012, especially with our expansion to the mainland U.S.," said Sunetric CEO Alex Tiller.

Sunetric recently became the first and exclusive Hawaii dealer of Suniva, considered one of the most affordable and efficient photovoltaic systems available.

In November, Sunetric opened three new mainland offices in Washington, D.C., Pittsburgh and Denver. Due in part to this expansion, as well as continued growth in Hawaii, the company expects to have 240 full-time employees by the end of 2012, a 71 percent increase from its current 140 employees.

Sunetric installed 505 residential and 42 commercial photovoltaic systems in 2011, which are estimated to generate 45,911 kilowatt-hours daily, totaling $2.3 million in savings per year, bringing its total customer savings for 2011 to $12 million.

Sunetric recently installed its sixth PV system on an auto dealership in the state and second BMW location. The 153-kilowatt solar array at BMW’s 777 Kapiolani Blvd. location will generate more than 21,000 kilowatt-hours of energy per month and offset 20 percent of the dealership’s electrical use, saving an estimated 420 barrels of oil annually.

EV station installed in Town Center of Mililani

Motorists driving electric vehicles can now charge up at The Town Center of Mililani. The shopping center teamed up with Better Place to install a charging unit that became available for public use this week.

Better Place will use funds from a federal grant to provide free electricity at the charging station for the rest of 2012. After that, customers will have to sign up for paid memberships with Better Place.

Pearlridge Center is the only other shopping mall in the state with an EV charging station. That unit will be dedicated at a ceremony Sunday.

Johnson & Johnson recalls infant Tylenol

TRENTON, N.J. » Recall-plagued Johnson & Johnson is pulling all infant Tylenol off the U.S. market because some parents have had problems with redesigned bottles, introduced three months ago, that the company touted as a big safety improvement to make measuring doses easier.

Instead, 17 parents or caregivers have complained that a protective cover on the top of the bottles didn’t work correctly. It’s meant to limit how much of the liquid pain and fever reducer can be drawn into a plastic syringe. But when those consumers inserted the plastic syringe, it pushed the protective cover, or flow restrictor, into the bottle.

J&J’s McNeil Consumer Healthcare unit, which has had about 25 product recalls since September 2009, said Friday that it is recalling all 574,000 bottles of grape-flavored, liquid Infants’ Tylenol from stores nationwide.

The company said customers can continue to use the infant Tylenol if the bottle’s flow restrictor remains intact. If not, they can request a refund by contacting McNeil at 888-222-6036 or www.tylenol.com.

Campbell Soup earnings decline 14 percent

CAMDEN, N.J. » Campbell Soup Co.’s second-quarter net income fell 14 percent as it spent more on marketing and a cutback in discounting hurt sales volume.

The company said earnings for the three months ended Jan. 29 fell to $205 million, or 64 cents a share, compared with $239 million, or 72 cents a share, last year. Revenue edged down nearly 1 percent to $2.11 billion.

Campbell is trying to regain lost ground after several years of declining soup sales. Shoppers have curbed their soup consumption, stopped stocking pantries or shifted to competitors’ brands. Campbell is in the midst of a turnaround plan that includes adding more expensive, higher-quality soups and broadening offerings in its snack, beverage and other categories.

Ex-Google CEO to sell up to 2.4M shares

SAN FRANCISCO » Former Google CEO Eric Schmidt plans to sell up to 2.4 million shares of stock currently worth nearly $1.5 billion. Schmidt, now Google’s executive chairman, intends to stagger the sales of the stock over a one-year period. Google disclosed Schmidt’s plans in a Friday regulatory filing.

On the Move

Mobi PCS has named the following new directors:

>> Haden Kirkpatrick as director of product development. He was previously director of strategic consulting for Motricity.

>> Jeff Slarks as director of indirect sales. He was previously the regional general manager of the Northwest region for Cricket Communications.

McDonald’s Restaurants of Hawaii has announced Tricia Dang as its regional development manager. She was previously a commercial real estate asset manager at Kamehameha Schools as well as a land planner for Wilson Oka­moto Corp. and an intern in the governor’s policy office.