Isle firm helps Japan with data storage
Hawaii-based DR Fortress Inc. and Japan-based Broad Band Tower Inc. have formed a partnership in which Broad Band Tower will offer DRFortress data storage and other solutions to its customers.
DRFortress is a co-location and cloud services technology provider.
The deal will help serve Japanese demand for offshore data storage, in the event of another major earthquake or tsunami.
"The extension of our alliance with DRFortress into Hawaii is a great opportunity and demonstrates how both companies are working jointly to help customers quickly build a disaster recovery site or hub site outside of Japan," Hiroshi Fujiwara, CEO of Broad Band Tower, said in a statement.
Alaska Air Paint the Plane deadline nears
Hawaii students in kindergarten through 12th grade have until Nov. 30 to submit designs that best capture the "Spirit of the Islands" in Alaska Airlines’ Paint the Plane contest.
A final selection panel comprising 10 judges representing Hawaii’s government, community, arts, education and tourism leaders will select three top designs.
Hawaii residents will then vote on the top three designs and provide Alaska Airlines with their recommendation in an online public vote slated for Dec. 11-18.
Contest details and judges’ biographies are available at www.alaskaair.com/hawaii.
Randomly selected design entries are also on display at www.painttheplanehawaii.com/gallery/#!.
HiBEAM to get Hong Kong award
The Hawaii Business and Entrepreneur Acceleration Mentors (HiBEAM) will receive a "Success Story" award from the Federation of Hong Kong Business Associations Worldwide and the Hong Kong Trade Development Council for its Hawaii Tech Asia program.
The award, in its fifth year, recognizes the outstanding achievements of the federation’s member associates who have developed their business significantly through Hong Kong. It will be presented at the 13th Hong Kong Forum Dec. 4-5.
The Hong Kong Forum is the annual flagship event of the Federation of Hong Kong Business Associations Worldwide, a network of 33 Hong Kong business associations in 24 countries with more than 11,000 individual business executives and professionals from around the world as member associates. HiBEAM’s executive director, Bee Leng Chua, is a board member of the Hong Kong Business Association of Hawaii, which is part of the federation.
Hawaii Tech Asia was developed to allow fast-growing technology companies from Hawaii to get firsthand knowledge of the ins and outs of doing business in China from local legal, accounting and business development experts. The companies meet with angel, venture and private equity investors as well as potential distributors, suppliers, partners and customers.
Hawaii Tech Asia took 13 companies to Hong Kong and Singapore in 2011 and 11 to Hong Kong and Beijing in 2012.
Ex-‘Price is Right’ model awarded $8.5M
LOS ANGELES » The producers of "The Price is Right" owe a former model on the show more than $7.7 million in punitive damages for discriminating against her after a pregnancy, a jury determined Wednesday.
The judgment came one day after the panel determined the game show’s producers discriminated against Brandi Cochran. They awarded her nearly $777,000 in actual damages.
Cochran, 41, said she was rejected when she tried to return to work in early 2010 after taking maternity leave. The jury agreed and determined that FremantleMedia North America and The Price is Right Productions owed her more than $8.5 million in all.
"I’m humbled. I’m shocked," Cochran said after the jury announced its verdict. "I’m happy that justice was served today not only for women in the entertainment industry, but women in the workplace."
FremantleMedia said it was standing by its previous statement, which said it expected to be "fully vindicated" after an appeal.
"We believe the verdict in this case was the result of a flawed process in which the court, among other things, refused to allow the jury to hear and consider that 40 percent of our models have been pregnant," and further "important" evidence, FremantleMedia said.
In their defense, producers said they were satisfied with the five models working on the show at the time Cochran sought to return.
Rate on 30-year mortgage falls to record 3.31 percent
WASHINGTON >> Average U.S. rates on fixed mortgages fell to fresh record lows this week, a trend that is boosting home sales and aiding the housing recovery.
Mortgage buyer Freddie Mac said Wednesday that the average rate on the 30-year loan dipped to 3.31 percent, the lowest on records dating back to 1971. That’s down from 3.34 percent last week, the previous record low.
The average on the 15-year fixed mortgage also dropped to 2.63 percent. That’s down from 2.65 percent last week and also a record.
The average rate on the 30-year loan has been below 4 percent all year. It has fallen further since the Federal Reserve started buying mortgage bonds in September to encourage more borrowing and spending. Home sales and construction are rising, providing a much-needed boost to the economy.
Home prices are also increasing, which makes consumers feel wealthier and more likely to spend.
ON THE MOVE
Damon Key Leong Kupchak Hastert has hired two new associates, who just graduated from the University of Hawaii William S. Richardson School of Law:
>> Kelly Morikone will practice in the firm’s immigration practice group. She clerked with the U.S. attorney’s office for the district of Hawaii, the Executive Office for Immigration Review-Honolulu Immigration Court as well as the appellate section of the U.S. Department of Justice’s office of Immigration Litigation in Washington, D.C.
>> E. Kumau Pineda-Akiona will focus on work in the firm’s real estate and construction practice group. He worked as a judicial extern to Chief Justice Mark E. Recktenwald of the Supreme Court of Hawaii and the Honorable Michael D. Wilson of the First Circuit Court of Hawaii.
The Professional Women’s Network has announced its new officers and board of directors for 2013: Kay Lorraine, president; Fay Kauanoe, vice president; Cynthia Tuttle, secretary; Audrene Burress, treasurer; Audrey Hutton, arrangements; Sue M. Sowders, fundraising; Linda Virtudes, membership; Sharon “Kalona” Ortiz, public relations; Jeannie Shaw, scholarship; Leianne Pedro, social media; Amber Ricci, special events; Mary Houghton, past president adviser; and Carol Williams, executive director.
