IMF’s bid for funds part of Europe’s struggle

WASHINGTON » When the International Monetary Fund meets this weekend, its top goal will be as simple as it is difficult: Get member nations to pledge many more billions in aid — in case the IMF needs to rescue more European economies.

Yet even success would hardly inspire confidence in Europe’s economy. It is, by all accounts, already in recession. And slowing economies elsewhere — from China to Brazil to India — might reduce the exports the continent needs to grow. European nations need faster growth to help lighten their debt loads. All that is out of the IMF’s control — whether or not it receives pledges of further aid this weekend.

GE first-quarter profit beats estimates

NEW YORK » General Electric’s first-quarter net income topped Wall Street expectations on a strong performance from the conglomerate’s industrial businesses.

GE said Friday that net income fell 12 percent to $3.03 billion, or 29 cents per share. Excluding charges, GE earned 34 cents in the quarter, a penny better than Wall Street estimates.

The industrial and financial giant said its primary manufacturing operation has rebounded after posting weak results following the global recession. Operating profit at its industrial businesses rose by 10 percent on a 14 percent gain in revenue. That’s an improvement from 2011, when GE was able to grow revenue in the industrial segment but operating profit remained flat.

US Airways earns backing of unions

DALLAS » US Airways has struck deals with unions at American Airlines to win their support for a possible merger of the two airlines.

The unions are angry that American is trying to cut jobs and labor costs while under bankruptcy protection. They represent 55,000 pilots, flight attendants and ground workers at American, the nation’s third-largest airline.

The unions can’t force a merger on their own, but they can work with other creditors of American’s parent company, AMR Corp., to persuade the bankruptcy judge to open the door to a deal.

Disney movie chief quits amid losses

LOS ANGELES » Disney movie studio boss Rich Ross is stepping down, a month after the family entertainment giant booked a huge $200 million loss on the mega-budget sci-fi movie "John Carter."

Ross, 50, had taken the job just 2 1/2 years ago with a mission to cut costs and develop new hits. He had brought "High School Musical" and "Hannah Montana" to TV audiences as the former head of Disney Channels Worldwide. But the studio’s losses continued under Ross despite major restructuring efforts.

ON THE MOVE

» Kiewit, a national leader in general contracting and construction management, has named Kyle Naka­mura as its civil construction manager of the West Oahu/Farrington Highway Guideway proj­ect. Naka­mura has 14 years’ experience in the construction industry.

» The HUGS board of directors has appointed the following employees: 

— Robin R. Johnson as chief executive officer. She was previously principal of Social Currency.

– Donna S. Witsell as chief operating officer. She was previously executive director of HUGS and has been with the organization since 1994.

» Hilton Grand Vacations has donated $10,000 to "Rainbow for Japan Kids," which supports youths who were affected by the March 2011 tsunami and earthquake in Japan.

NEIGHBORHOOD WATCH

Oahu single-family home and condominium resales data for March by neighborhood with the percentage change from last year:

SINGLE-FAMILY HOMES
No.	Neighborhood group	Sales	Pct. change	Median price	Pct. change
1.	Aina Haina-Kuliouou	4	-56%	$998,000	-6%
2.	Ala Moana-Kakaako	1	—	$1,050,000	—
3.	Downtown-Nuuanu	4	-50%	$830,000	15%
4.	Ewa Plains	32	-33%	$475,500	7%
5.	Hawaii Kai	22	144%	$819,500	-10%
6.	Kailua-Waimanalo	24	50%	$825,000	10%
7.	Kalihi-Palama	10	-9%	$498,000	-6%
8.	Kaneohe	5	-72%	$614,000	-12%
9.	Kapahulu-Diamond Head	22	69%	$825,000	22%
10.	Makaha-Nanakuli	14	-13%	$295,000	11%
11.	Makakilo	6	-33%	$474,250	7%
12.	Makiki-Moiliili	5	-58%	$875,000	-2%
13.	Mililani	16	0%	$606,000	11%
14.	Moanalua-Salt Lake	1	-75%	$525,000	-32%
15.	North Shore	10	150%	$871,000	74%
16.	Pearl City-Aiea	16	0%	$592,250	3%
17.	Wahiawa	2	-75%	$312,000	-10%
18.	Waialae-Kahala	7	75%	$1,450,000	23%
19.	Waikiki	0	—	$0	—
20.	Waipahu	19	-10%	$498,000	0%
21.	Windward Coast	2	-67%	$327,500	3%
CONDOMINIUMS
No.	Neighborhood group	Sales	Pct. change	Median price	Pct. change
22.	Aina Haina-Kuliouou	0	—	$0	—
23.	Ala Moana- Kakaako	40	29%	$455,000	14%
24.	Downtown-Nuuanu	24	4%	$397,500	18%
25.	Ewa Plains	29	4%	$314,895	-3%
26.	Hawaii Kai	15	15%	$457,000	-21%
27.	Kailua-Waimanalo	8	14%	$352,000	-24%
28.	Kalihi-Palama	5	-17%	$378,000	25%
29.	Kaneohe	8	-20%	$418,000	19%
30.	Kapahulu-Diamond Head	8	-11%	$507,500	1%
31.	Makaha-Nanakuli	10	43%	$98,750	10%
32.	Makakilo	4	-64%	$248,375	9%
33.	Makiki-Moiliili	37	3%	$300,000	-6%
34.	Mililani	21	17%	$250,000	-10%
35.	Moanalua-Salt Lake	22	83%	$267,500	-4%
36.	North Shore	5	150%	$225,000	-44%
37.	Pearl City-Aiea	22	-19%	$292,500	22%
38.	Wahiawa	1	—	$115,000	—
39.	Waialae-Kahala	1	-50%	$650,000	77%
40.	Waikiki	68	0%	$288,500	-3%
41.	Waipahu	10	-44%	$273,700	-1%
42.	Windward Coast	0	—	$0	—

Source: Honolulu Board of Realtors