Servco unsure about Suzuki distribution
A day after Suzuki Motor Corp. decided to end new car sales on the mainland, the dealership representing the brand in Hawaii said it is uncertain whether the Japanese automaker will end distribution in the state.
An official with local auto dealer Servco Pacific Inc. said Monday that its supply of new cars from Suzuki was expected to end after the manufacturer’s California-based subsidiary, American Suzuki Motor Corp., filed Chapter 11 bankruptcy to wind down auto sales on the mainland.
American Suzuki and Servco receive cars from Japan. But Servco said Suzuki Motor in Japan has not indicated whether it would continue or cease distribution to Hawaii.
Suzuki Motor could not be reached for comment.
Sandy cuts retail sales by $4 billion
NEW YORK » Superstorm Sandy knocked nearly $4 billion off of retail sales last week in the hard-hit Mid-Atlantic and Northeast regions, nearly 20 percent of the usual total, according to figures released Tuesday by a retail data service.
MasterCard Advisors’ SpendingPulse said Tuesday that the regions, which account for about 24 percent of retail sales nationwide, typically generate $18.7 billion in sales for the week ended Saturday. But revenue came in at about $15 billion, excluding auto sales.
That dragged down the nationwide sales total for the week ended Saturday. Retailers typically generate $78 billion in sales for that particular week. McNamara estimates the total was about $74 billion.
U.S. employers post fewest jobs in 5 months
WASHINGTON » U.S. employers posted fewer job openings in September after advertising more in August than first estimated. The report suggests hiring will likely remain modest in the coming months.
The Labor Department said Tuesday that job openings dropped by 100,000 to 3.56 million, the fewest in five months. August’s openings were revised up to 3.66 million.
The number of available jobs has jumped about 63 percent since July 2009, one month after the recession ended. It remains well below the more than 4 million jobs a month advertised before the recession began in December 2007.
AOL earns $20.8M on strong ad sales
AOL reported a strong third quarter Tuesday, helped in large part by improved ad sales.
Global advertising revenue increased 7 percent, to $340 million from $317.7 million, in the latest quarter, compared with the same period a year ago. The company had an 18 percent increase in revenue from third-party ad networks, including the company’s network, Advertising.com, and an 8 percent increase in search and contextual advertising.
Overall, AOL reported revenue of $531.7 million, which was flat compared with the same period last year. The company’s earnings were $20.8 million, versus a loss of $2.6 million a year ago.
Nissan reports 8% profit rise, cuts forecast
TOKYO » Nissan’s quarterly profit rose nearly 8 percent, but the Japanese automaker lowered its full-year forecasts Tuesday because of a sales slump in China and weakness in Europe.
Nissan Motor Co. reported a July-September net profit of ¥106 billion ($1.3 billion), slightly better than the ¥96 billion profit forecast by analysts surveyed by FactSet. Quarterly sales improved 5.5 percent to ¥2.4 trillion.
Anti-Japanese sentiment has flared in recent months in China over a group of tiny islands controlled by Japan but also claimed by Beijing, setting off a boycott of Japanese products and some violent protests. Nissan’s sales are also being hit by an economic slowdown in Europe.
Yokohama-based Nissan, which makes the March subcompact, Leaf electric car and the Infiniti luxury model, said it now expects a ¥320 billion profit for the business year ending March 2013, down 6 percent from ¥341 billion the year before. It had previously expected to rake in ¥400 billion in net profit for the year.
It lowered its vehicle sales forecast as well, to 5.08 million vehicles from 5.35 million.
China helps BMW offset European lag
FRANKFURT, Germany » Strong sales of its luxury cars in China helped Germany’s BMW AG overcome weak markets in crisis-ridden Europe. Net profit rose 16 percent in the third quarter to €1.29 billion ($1.65 billion) on a 13.7 percent jump in sales to a record €18.82 billion.
The Munich-based carmaker said Tuesday it was sticking to its forecasts for 2012 sales and earnings to be up on the previous year despite "an increasingly uncertain market environment."
ON THE MOVE
Central Pacific Bank has appointed Naaleialoha Keaunui to investment consultant. Her responsibilities include providing professional investment and life insurance advice to small-business and retail clients. Keaunui was previously a financial adviser for Securities America as well as for American Savings Bank and American Express.
Business Solution Technologies has announced that Lori Urbano has been appointed director of its Human Resources Services division. She was previously a vice president and human resources manager of Bank of Hawaii.
Hanahauoli School has chosen Cynthia Gibbs-Wilborn as the new head of school beginning July 1, 2013. She has served as head of lower school at Providence Day School in Charlotte, N.C., since 2008. From 1995 to 2007 she the director of auxiliary programs, first through third grades division director, director of special programs and acting head of school at Beauvoir, the National Cathedral Elementary School in Washington, D.C.
