Google stock tops $700 for first time since ’07

Google’s shares topped $700 Friday, crossing the milestone for the first time since 2007.

The comeback keeps Google Inc. in step with major market gauges as Wall Street extends its recovery from the Great Recession of 2008 and 2009. The Dow Jones industrial average touched its highest level since 2007 earlier this week, and the broader Standard & Poor’s 500 is nearing its late-2007 levels.

Google last traded above $700 on New Year’s Eve 2007 before the markets suffered the great falls of 2008. As the recession deepened, Google’s shares traded as low as $247.30 in late November 2008. The shares rose $6.75 on Friday to $706.15.

Labor board rules against Hawaiian Telcom

The National Labor Relations Board has ruled that Hawaiian Telcom violated federal labor law by canceling the health and dental benefits of unionized employees who participated in a two-day work stoppage in November.

An NLRB administrative law judge ordered Hawaiian Telcom to reimburse employees for any benefits denied to them, and to post notices in the workplace vowing to cease and desist from similar labor law violations in the future.

"Copies of the notice, on forms provided by the Regional Director for Region 20, after being signed by the respondent’s authorized representative, shall be posted by the respondent and maintained for 60 consecutive days in conspicuous places including all places where notices to employees are customarily posted," according to the order issued by Administrative Law Judge Mary Miller Cracraft.

Isle collegians now getting Verizon 4G LTE

Verizon Wireless’ 4G LTE (long-term evolution) service reaches more than 65,000 college students on 16 campuses around the state, the company said Friday.

Verizon first introduced 4G LTE in the islands in July 2011 and has been expanding the service incrementally.

"As more classes begin integrating technology in the curriculum, students have a greater need to stay connected," said Russ Preite, region president for Verizon Wireless. The technology "helps students stay on top of their schoolwork and connected to friends."

AT&T Thursday announced plans to expand its 4G LTE service to the islands by the end of the year.

Military families cut electric bills by $150,000

Hawaii military families living in housing managed by Forest City cut their electricity bills by nearly $150,000 in June and July as part of a program to reduce energy consumption. The roughly 6,000 homes participating in the Energy Smart Initiative reduced their electricity use by 58 kilowatt-hours per month for a total reduction of 674,965 kilowatt-hours during the two-month stretch compared with the same period a year earlier.

"The Energy Smart Initiative represents one of the first large-scale efforts on Oahu to transform an entire residential community to achieve an energy-efficient lifestyle," said Hawaii Energy Program Manager Ray Starling.

Bankoh doles out awards to 4 nonprofits

The 2012 Bank of Hawaii Monty Richards Hawaii Island Community Awards program presented four organizations with financial awards to help their missions.

The North Kohala Community Resource Center received $10,000 to buy a bedside cardiac monitoring system for the Kohala Hospital emergency room.

The Arc of Hilo was awarded $5,000 for new equipment and tools to enable the organization to double the number of disabled people it employs to provide yard services to business clients.

The West Hawaii Community Health Center was given $5,000 for its program providing free prescription medication to uninsured patients with chronic illnesses. The organization serves a large area of the island, from Kawaihae in South Kohala to Milolii in South Kona.

Another $5,000 was awarded to ‘O Ka‘u Kakou to buy two Jet Skis for the local fire department, for restoration and maintenance of local cemeteries, and for restoration of the Pahala Hongwanji Sunday school and dojo building for community use.

The awards program was created in 2008 to support island nonprofit organizations demonstrating innovative approaches to improving residents’ quality of life.

The award is named in honor of Herbert Montague "Monty" Richards Jr., a Hawaii island community leader and former longtime Bank of Hawaii board member.

State tech agency targets small businesses

The state-run High Technology Development Corp. has combined two of its programs into a single entity aimed at helping small businesses and entrepreneurs develop promising technologies.

The new venture, called Innovate Hawaii, is a combination of the former Hawaii Small Business Innovation Research and the Manufacturing Extension Partnership.

"This new entity hopes to maximize the resources of both former programs with an emphasis on helping small businesses create innovative projects that may be useful for federal programs, with an aim for future commercialization," said Yuka Naga­shima, HTDC executive director.

In 2011, MEP funding recipients created 74 jobs and had a combined increase in sales of $12.5 million.

Intel warns revenue will fall on PC weakness

SAN FRANCISCO » Intel’s sales are falling at a rate that blindsided the chip-maker’s management, amplifying Wall Street’s worries about the slumping personal computer market and the frail economy. The company now expects to post third-quarter revenue of $13.2 billion, a 7 percent decline from the year-ago period when its revenue was $14.2 billion.

On the Move

The Queen’s Medical Center has named Kathleen A. Green director of perioperative services. She was previously a director of perioperative services at Bakersfield Memorial Hospital in Bakersfield, Calif.

Prudential Locations has hired three new realtors: 
>> Luis Oquendo was previously working for Century 21 Home finders and has four years’ experience in the real estate industry.
>> Lori Salvador was previously working for Wata­nabe International and Properties International.
>> Ayumi Yamane was previously working at Shuko Realty.