Utah firm to create health network in state

The Hawaii Health Information Exchange, a nonprofit that aims to connect medical providers in the state through electronic health rec­ords, has selected Utah-based Medicity to build a network.

Also on Monday, Gov. Neil Abercrombie signed a memorandum of agreement to proceed with the project that will link doctors, hospitals, laboratories, health insurers and pharmacies to share patient information electronically to reduce duplicate diagnostic procedures and increase efficiency.

The exchange system will eventually feed into the Nationwide Health Information Network. It received more than $5.6 million in federal funds to establish the network in 2010, and within the last year has helped more than 250 doctors implement or upgrade their electronic records systems.

HECO publishes information in Korean

Hawaiian Electric Co. said it has produced two of its publications on energy conservation in the Korean language to "better serve the Korean small business community."

The publications, "Power to Save for Small Businesses" and "Ways to Save at Work," are available at HECO’s Ward Avenue and Richard Street offices or by calling 543-7511 to have copies mailed. They also can be downloaded at cbms.heco.com.

"Through the information in these guides, businesses can learn how to evaluate their energy use, develop an employee energy awareness campaign, trim their operating expenses as well as find information on the energy costs associated with operating their appliances," said Kaiu­lani de Silva, HECO’s director of education and consumer affairs.

IPO readied for Empire State Building

NEW YORK » The company that runs Manhattan’s Empire State Building is planning an initial public offering that could raise as much as $1 billion.

Empire State Realty Trust Inc. owns and operates 12 properties in Manhattan and the greater New York metropolitan area.

The company didn’t say in its regulatory filing Monday how many shares might be involved in the IPO or what price they might fetch. The $1 billion amount isn’t final either, but subject to investor demand.

Google closes in on Motorola Mobility gain

SAN FRANCISCO » Google’s $12.5 billion acquisition of cellphone maker Motorola Mobility have won approvals from U.S. and European antitrust regulators, moving Google a major step closer to completing the biggest deal in its 13-year history.

The blessings mean Google Inc. just needs to clear a few more regulatory hurdles before it can take control of Motorola Mobility Holdings Inc. and expand into manufacturing phones, tablet computers and possibly other consumer devices for the first time.

Google is counting on Motorola Mobility’s more than 17,000 patents — a crucial weapon in an intellectual arms race with Apple, Microsoft and other rivals to gain more control over smartphones, tablets and other mobile devices.

Bank debt, economy depress Spain’s rating

NEW YORK » Fitch Ratings downgraded its assessment on Spanish financial institutions Monday, after cuttings its measure on that nation’s government debt.

Fitch said it cut the ratings because Spain’s credit downgrade last month will weaken the government’s ability to help big banks if they get into trouble. That makes those banks’ debt more risky. At the same time, a weak real estate market and economy will also depress the values of assets held by the banks, the agency said.

Fitch painted a gloomy picture of Spain’s economy, which will likely drag down the banks’ profitability. Fitch said it expects no GDP growth in Spain this year, and 1 percent growth in 2013. The unemployment rate will remain around 23 percent, and the real estate market will be "a long-term cause for concern," Fitch said.

Apple tops Exxon as most valuable company

NEW YORK » Apple’s stock broke above $500 for the first time Monday. It was the latest step in a rally that began more than two weeks ago, when the company reported staggering sales and profits for the holiday quarter.

The shares hit $503.83 soon after opening, before subsiding to $502.60 in after-hours trading. That was up $9.18, or 1.9 percent, from Friday’s close.

Apple Inc. and Exxon Mobil Corp. have been vying for the position as most valuable company in the world since last summer, but the latest rally has made the electronics device maker 17 percent more valuable than the oil company. Its market capitalization is now $465 billion, compared with Exxon’s $400 billion.

On Jan. 24 Apple posted net income of $13.06 billion for the quarter that ended in December, more than doubling its profits from the year before. Sales were $46.3 billion, up 73 percent from a year ago.

ON THE MOVE

Hawaii Employers Council has promoted and appointed: 

» Sheri-Ann Clark to corporate secretary and general counsel from senior human resource consultant and assistant general counsel.

» Perry Confalone, partner, Carlsmith Ball, to chairman of the council’s Board of Governors for 2012.

Also appointed to the Council’s executive committee were Dennis Brown, president and chief executive officer of Big Brothers Big Sisters of Hono­lulu; Michael Cheng, senior vice president of Hawaii Medical Service Association; Tim Ho,president and chief executive officer of Hawaii Employers Council; Gary Kajiwara, president and chief executive officer of Kuakini Health System; John Monahan, president and chief executive officer of Hawaii Visitors and Convention Bureau; and David Rietow, co-owner and president of Agro-Resources Inc.

Coldwell Banker Pacific Properties has announced six agents from the firm’s Windward office that have received their broker’s license. They are Kathleen Funk-Linton, Kathy Grindle, Donna Maier, Barbara D. Morelli, Leon Mosher and Dawn Reneau.