Kauai to get solar farm by year’s end

A 1.21-megawatt solar power farm that will feed electricity into the Kauai electrical grid is on track to be completed by the end of this year, according to the company developing the project.

The photovoltaic system being built in Kapaa for the Kauai Island Utility Cooperative would be about the same size as the La Ola Solar Farm on Lanai, which is currently the state’s largest. The solar farm will help the KIUC meet the state’s objective to generate more electricity from renewable sources. KIUC announced last week that it plans to break ground next year on a 3-megawatt photovoltaic system in Koloa on the southern side of the island.

The Kapaa solar project is being developed by REC Solar. 

Economists sour on U.S. forecast

WASHINGTON » A group of top business economists cut their forecast yesterday for U.S. growth through 2011, saying high debts and a decline in the nation’s wealth would inhibit spending and investing.

The National Association for Business Economics reduced its forecast for annual growth in gross domestic product to 2.6 percent for 2010, down from a springtime estimate of 3.2 percent. Similarly, the group cut projected 2011 growth to 2.6 percent from 3.2 percent. NABE also said the U.S. unemployment rate is likely to remain above 9 percent till the end of 2011 — a forecast that would "mark the worst post-recession job recovery on record."

In its latest survey of 46 forecasters, the group said most believe the U.S. won’t slip back into another recession. Yet they see little evidence that growth will sharply accelerate in the near future.

IBM shares reach all-time high

NEW YORK » IBM shares hit an all-time high yesterday.

The stock rode a slight market upswing, climbing as high as $139.88 before closing at $139.66, up 81 cents for the day. The previous high was $139.19, reached during the dot-com boom on July 13, 1999.

The rise comes after IBM Corp. shares spent much of this year going sideways as concerns about European government debt and a sluggish economic recovery in the U.S. weighed on markets. Broader factors aside, IBM’s share price reflects steadily climbing profits. Its second-quarter results marked the 30th straight period in which IBM has posted higher earnings per share than the year before.

U.K. airport’s traffic shows promise

LONDON » Heathrow Airport has reported its busiest September ever, underscoring hopes of a resurgence in the aviation industry.

Airports operator BAA said yesterday that 6.22 million people flew from the airport — Europe’s busiest — last month. That’s an increase of 7.6 percent compared with September 2009. BAA says that much of the rise was driven by a bounce back in business travel as the global recovery picks up pace, with airlines also restarting routes and flights that were axed at the height of the recession.

The most popular routes were to New York, Dubai and Dublin.

ON THE MOVE

RIM Architects has appointed the following:

» Grant Chun to associate from project architect and designer. His experience includes retail, commercial, residential, educational, civic, industrial and transportation facilities, and he was previously lead designer in Seattle as well as associate with In+Form Design.

» John Vann to associate from project architect. His experience includes working on retail, commercial, hospitality and civic projects, and he was previously an associate with Perkowitz and Ruth.

Sohi Fitness has been ranked 114th in Startup.Nation.com’s "2010 Leading Moms in Business" competition. The company, which has a weight loss and fitness program, is owned by Megan Clark.

The National Association of Women in Construction Honolulu Chapter has chosen Shannon Gascon for its "Woman of the Year Award." Gascon is a project manager for Haseko and has been working in construction for 11 years.