Funds offered for energy efficiency plans
Hawaii Energy is offering up to $2.1 million in incentive funds for energy efficiency proposals on Oahu, Hawaii island and Maui.
Submissions will be welcomed from contractors, developers, energy efficiency solution providers, energy service companies, energy vendors and property managers by Sept. 29.
Proposed projects must reduce energy consumption and provide at least one of several benefits, including improved cost-effectiveness compared to existing Hawaii Energy offerings; increased energy efficiency in high energy consumption and/or hard-to-reach geographic areas; or mass installations of specific energy efficiency technologies or offerings.
If applicants’ projects are selected, they will be notified by Oct. 17. Preference will be given to projects that can be completed by May 30.
The request for applications and application form can be found at auction.hawaiienergy.com.
Malaysia Airlines to lay off 6,000 workers
KUALA LUMPUR, Malaysia » Malaysia Airlines will cut 6,000 workers as part of a $1.9 billion overhaul announced Friday to revive its damaged brand after being hit by double passenger jet disasters.
The staff reduction represents about 30 percent of its current workforce of 20,000. A search for a new CEO is underway but there is no move to change the airline’s name, which some branding experts have said was necessary for a successful makeover.
Khazanah Nasional, the state investment company that owns 69 percent of the airline, said the overhaul includes the establishment of a new company that will take over the existing Malaysia Airlines business and its reduced staff.
The revamp and new investment in the carrier will cost about $1.9 billion. Analysts say the substantial staff cuts suggest the airline will reduce flights to Europe and China.
The airline will be removed from the Malaysian stock exchange and taken completely under the wing of the government.
Startups offer banking for smartphones
NEW YORK » The latest banks are small enough to fit in the palm of your hand.
Startups, such as Moven and Simple, offer banking that’s designed specifically for smartphones, enabling users to track their spending on the go.
Some things haven’t changed. Like traditional banks, customers open a checking account, get a debit card and are able to make check deposits and pay their bills. Like many Internet banks before them, they have no maintenance or overdraft fees, there are no physical branches and depositing cash is a challenge.
What makes Moven and Simple different is their apps. Every time a debit card is swiped at a store, a notification is sent to the phone letting the user know how much was spent and how much money is left in the account.
U.S. consumer spending declines 0.1%
WASHINGTON » U.S. consumer spending fell in July, with a drop in auto purchases accounting for most of the weakness. Income growth also slowed.
Consumer spending edged down 0.1 percent last month after a 0.4 percent increase in June, the Commerce Department reported Friday. It was the first decline in spending since January. Income growth slowed to 0.2 percent in July, the weakest showing in seven months.
Consumer spending accounts for 70 percent of economic activity, so it needs to recover for the economy to keep its momentum in the second half of the year.
Reynolds’ takeover of Lorillard scrutinized
RICHMOND, Va. » Federal regulators are putting Camel cigarette maker Reynolds American Inc.’s planned $25 billion takeover of rival Newport maker Lorillard Inc. under the microscope.
The nation’s second-biggest tobacco company said Friday that the Federal Trade Commission has asked for additional information as part of an antitrust review of the deal.
The combination of two of the nation’s oldest and biggest tobacco companies would create a formidable No. 2 to rival Altria Group Inc., owner of Marlboro maker Philip Morris USA.
Meanwhile, the U.K.’s Imperial Tobacco Group would triple its share of the U.S. cigarette market by buying some of the companies’ other brands for $7.1 billion.
ON THE MOVE
The Chamber of Commerce Hawaii has promoted and hired the following people:
>> Keenan Porter to director of membership sales and accounts from senior account executive. Porter was previously an account executive with Pacific Business News.
>> Jennifer Domaloan is the new controller and office manager. She was previously a human resources manager for Ganir & Co. Pacific Rim Commercial Services.
Atlas Insurance Agency has appointed Nicholas Tan vice president in its surety division. He has 15 years of insurance experience and was previously the president of Surety Association of Northern California.
