New executive management at Island Air
Les Murashige has been named president and Lesley Kaneshiro chief financial officer of Island Air.
Murashige has a nearly lifelong career in Hawaii’s aviation industry, starting with his first job as a part-time airplane cleaner at Hawaiian Airlines, up to executive positions with defunct Aloha Airlines. He has previously held executive positions at Island Air.
"We are pleased to welcome Les Murashige back to the Island Air family," said owner Charles Willis in a statement. "Les brings a wealth of knowledge and experience to guide the transition we have been planning and are now implementing."
The airline recently launched its new branding, logo and aircraft design, and took delivery of its first ATR 72 JetProp on Saturday. Island Air anticipates the arrival of additional JetProp aircraft through 2013.
Oceanic and Verizon team up in isles
Hawaii is now included in a partnership between Time Warner Cable Inc. and Verizon Wireless that offers customers packages of services.
Oceanic Time Warner Cable residential television, Internet and telephone services and Verizon Wireless smartphones and tablets may now be bought from both companies on Oahu, Kauai and Hawaii island.
The joint marketing effort previously was rolled out in Illinois, Kansas, Nebraska and other states. Additional information is available at 888-535-0187 or 800-TWCABLE, or online at www.verizonwireless.com/twc or www.twc.com/verizonwireless.
Foreclosure completions keep dropping
About 57,000 completed foreclosures were recorded in the U.S. in August, down from 75,000 in August 2011 and the revised figure of 58,000 from July of this year, according to analytics firm CoreLogic.
Since the financial crisis began in September 2008, about 3.8 million foreclosures have been completed in the U.S., reports the California-based firm.
"The continuing downward trend in foreclosures and a gradual clearing of the shadow inventory are important signals that the recovery in housing is gaining traction," said CoreLogic President and CEO Anand Nallathambi. "The reduction in foreclosure volumes is to some degree being facilitated by the rising popularity of alternative resolution methods, such as short sales and loan modifications."
The foreclosure inventory is at its lowest level since April 2010.
Retail sales grow but at a slower pace
NEW YORK » Americans may have slowed their spending in September after splurging during the start of the busy back-to-school period the month before. But more important, they were still spending.
September sales rose 3.9 percent — a slowdown from the 6 percent rise in August — as 22 retailers, like Macy’s and Costco, reported mixed results, according to the International Council of Shopping Centers. Still, given the economic and political uncertainty that weighs on many Americans right now, analysts say the results are an encouraging sign for stores as they head into what’s traditionally the busiest shopping period of the year in November and December.
Retailers’ monthly sales figures are based on revenue at stores opened at least a year. That measure is considered an indicator of a retailer’s health because it excludes results from stores recently opened or closed.
Defective pill could harm generics’ image
WASHINGTON » More Americans than ever are taking generic drugs as blockbuster medicines like Plavix and Lipitor become available in low-cost versions. But the government’s revelation this week that it mistakenly approved a defective generic antidepressant could stoke continuing concerns about the safety and quality of knockoff drugs.
Generic drugmakers already are under public scrutiny for an unprecedented shortage of generic injectable drugs, driven in part by manufacturing problems. The spate of bad news could undermine years of outreach by the government and drugmakers to assure patients that cheaper generic drugs are just as effective as brand-name drugs.
The Food and Drug Administration on Wednesday asked Teva Pharmaceuticals to withdraw its drug Budeprion XL 300 after testing showed the drug did not properly release its key ingredient. The drug is supposed to be equivalent to GlaxoSmithKline’s popular antidepressant Wellbutrin XL, which is prescribed to treat depression, anxiety and nicotine withdrawal.
30-year mortgage hits record 3.36 percent
WASHINGTON >> Average rates on fixed mortgages fell to record lows for the second straight week. The declines have led more homeowners to refinance, a trend that could help boost the economy.
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.36 percent. That’s down from last week’s rate of 3.40 percent, which was the lowest since long-term mortgages began in the 1950s.
The average on the 15-year fixed mortgage, a popular refinancing option, dipped to 2.69 percent, down from last week’s record low of 2.73 percent.
ON THE MOVE
University Health Alliance has promoted Wade Orimoto to data analyst manager in the Health Care Services department. He was had been a UHA data analyst since November 2009 and joined the company in 1998, serving as a mailroom supervisor, systems contract analyst and risk management supervisor.
Coldwell Banker Pacific Properties has announced Linda Hamp as a relocation specialist for the firm’s King Street office. She has 13 years of experience selling coastal residential real estate, including working for Coldwell Banker Residential Brokerage in La Jolla, Calif., for eight years.
Gary G. Grimmer & Associates has announced that Ann C. Kemp has joined the firm. She has 23 years experience in business and general civil law, including litigation, arbitration, mediation, contracts and transactions.