Elite Pacific will open office on Hawaii isle
Elite Pacific Properties, a Honolulu-based real estate company, said it will open an office at the Kings’ Shops in Waikoloa Beach Resort on Hawaii island this month. The office will be staffed by a broker in charge and three full-time agents, the company said. The office will focus on Kohala and Waimea.
Elite Pacific Properties was founded in 2005 by Stephen Cipres and Paul Mayer. Last year the company closed 221 transactions totaling $204 million. The average transaction was $923,000.
Fed moves to end bond-buying program
WASHINGTON » Federal Reserve policy-makers discussed a variety of economic threats at their October meeting — from turbulent financial markets to overseas weakness — but decided to move forward with plans to end their landmark bond buying program.
Minutes of the Fed’s Oct. 28-29 meeting released on Thursday showed that Fed officials grappled with a number of developments, from sharp moves in U.S. stock prices to increased signs of weakness in such key regions as Europe and Asia.
Private economists do not expect the Fed to begin raising interest rates until mid-2015.
Car-rental service probes alleged snooping
SAN FRANCISCO » Uber Technologies is investigating whether one of its general managers violated the popular car-booking service’s privacy policies by snooping on a reporter’s whereabouts.
The probe, confirmed Wednesday, stems from allegations that the general manager of Uber’s New York office used a company tracking tool to monitor the location of a BuzzFeed reporter earlier this month.
Uber said access to the personal data of anyone using its car service is limited to "legitimate business purposes" and employees that violated the rules may be fired.
News of the investigation followed a separate BuzzFeed story reporting that another Uber executive recently threatened to look into the personal lives of journalists who have criticized Uber.
JetBlue adding bag fees, shrinking space
NEW YORK » JetBlue will add bag fees and squeeze seats a bit closer together as it tries to boost profit.
The airline said Wednesday that it will create three ticket classes beginning in the first half of 2015, and only the top two include at least one free checked bag.
Other big airlines have added fees on checked bags since 2008, when they needed money to cover rising fuel costs. JetBlue’s decision will leave Southwest as the only major U.S. airline to let all passengers check a bag free.
Target’s third-quarter profit up 3.2 percent
NEW YORK » Target reported a 3.2 percent rise in its third-quarter profit and beat Wall Street expectations as shoppers spent more on beauty products, toys and back-to-school items.
The results, which marked its first increase in a key revenue measure in a year, shows how the company is successfully moving beyond a massive data breach disclosed a week before last Christmas. That sent customers fleeing for months and hurt sales and profits.
Suspension trouble recalls Jettas, Beetles
DETROIT » Volkswagen is recalling 442,000 Jettas and Beetles to fix a problem that can cause rear suspension failure if the cars aren’t fixed properly after a crash.
The recall covers 2011 through 2013 Jettas and 2012 through 2013 Beetles.
VW said in documents posted by U.S. safety regulators on Wednesday that if rear trailing arms are damaged in a crash and not repaired correctly, they can fracture suddenly. That can cause loss of control and possibly a crash. Trailing arms connect the axle to the frame.
ON THE MOVE
Coldwell Banker Pacific Properties announced Elizabeth “Biz” Kellam has joined the firm’s Windward office as an independent agent. Prior to joining CBP, Kellam served as a Realtor associate at Century 21 Paradise International.
Yamamoto Caliboso announced Wil K. Yamamoto has joined the firm as counsel. He will be practicing in the areas of real estate, energy and construction law. He previously served as a counsel at McCorriston Miller Mukai MacKinnon.
Honolulu HomeLoans has announced Dawn Kot as a senior loan officer for the firm, where she will specialize in residential mortgage loan origination. She has more than 10 years of mortgage industry experience.
