Business Briefs

Isle farmers might get federal relief

Hawaii farmers may be eligible for federal relief from high shipping costs, thanks to recent appropriations in a U.S. Senate bill.

The Reimbursement Transportation Cost Payment Program for Geographically Disadvantaged Farmers and Ranchers assists farmers and ranchers in geographically disadvantaged areas outside of the mainland.

About $2.6 million was appropriated in fiscal 2010 for the farm program.

 

Aiona and Moon to be key speakers

The Exchange Club of Downtown Honolulu has announced the speakers for the following luncheons at the Oahu Country Club.

» Today: Lt. Gov. James "Duke" Aiona, also a gubernatorial candidate, will outline his positions on various issues.

» July 1: Chief Justice Ronald Moon will discuss his role in the court system.

Guests are invited for the lunch and the speech. Meetings start at noon. Attendance is $20. For more information, contact Ed Kemper at 225-2965 or edracers@aol.com.

 

Djou seeks free trade with Philippines

U.S. Rep. Charles Djou is calling for negotiations on a free-trade agreement between the United States and the Philippines.

Djou has introduced a nonbinding resolution requesting trade talks between the two countries, which have long-held economic, military, cultural and social ties.

The legislation is Djou's first since winning his seat May 22.

Djou says in a statement that a trade pact would benefit Hawaii, where about one-fifth of the population is of Filipino descent.

The U.S. exported $9.7 billion worth of goods to the Philippines in 2007, according to the U.S. Trade Representative's office, making it the 30th-largest U.S. market.

The Philippines exported $11.6 billion in 2007 to the U.S, making it the 37th-largest supplier of goods.

 

Hawaiian Holdings' stock rating cut

Hawaiian Holdings Inc.'s stock was cut to "market perform" from "market outperform" by analyst Bob McAdoo of Avondale Partners LLC. He lowered his target price to $8 from $14.

Shares of Hawaiian Airlines' parent fell 68 cents, or 9.7 percent, to $6.34 yesterday on the Nasdaq.

 

FedEx is upbeat on trade recovery

NEW YORK » FedEx said people are too pessimistic about a recovery in global trade, after it reported yesterday that strong exports from Asia and other international shipments drove its improved fourth-quarter results.

While concerns about European economies and their looming debt problems remain, FedEx said international shipments overall grew by 23 percent. Countries like India, China and Brazil in particular are driving the increase.

FedEx said the U.S. economy is steadily growing as well. Still, it has a conservative outlook for the next year, expecting rising costs as shipments pick up.

In the quarter ended in May, FedEx earned $419 million, or $1.33 a share. It lost $876 million, or $2.82 a share, a year earlier.

Revenue climbed 20 percent to $9.43 billion.

 

ON THE MOVE

JW Marriott Ihilani Resort & Spa at Ko Olina has hired the following:

» Asha Wignarajah as group sales manager. She previously worked at Hawaii World/Distinguished Resorts and represented 13 Marriott resorts throughout Hawaii, Mexico and the Caribbean.

» Dion Kiernan as group sales manager. He has 27 years of sales experience, including as national director of business development for Renaissance Hotels & Resorts and director of sales at Renaissance Cleveland Hotel.

 

Meadow Gold Dairies Hawaii has promoted Jayson Fujimoto to distribution manager from assistant distribution manager. His has been a route driver salesman and distribution supervisor for the company.

 

The Western Association of Student Employment Administrators said Matthew Sanders of Chaminade University has won its Hawaii Student Employee of the Year Award for 2009-2010. Sanders has been responsible for accurate statistics for Chaminade's volleyball, basketball and softball games while using software called STATCREW.