ProService Hawaii, the state’s largest human resources management firm, has acquired Hawaii Human Resources Inc., a subsidiary of The Hawaii Group.
The acquisition increases the number of Hawaii-based businesses served by ProService Hawaii to almost 2,000. The addition of HiHR’s 5,700 work site employees to the 24,500 already represented by ProService Hawaii brings the total to more than 30,000 work site employees served, with over $1.2 billion in payroll.
ProService Hawaii will maintain headquarters in Hawaii Kai and additional offices in Kona, Kapaa and Kahului, and will retain HiHR’s offices in downtown Honolulu and Kailua-Kona. With the addition of HiHR’s employees, ProService’s workforce now totals more than 250 employees.
ProService Hawaii, which was founded in Kona in 1994, was acquired by Ben Godsey and partners in October 2005. Godsey is president and CEO of ProService Hawaii.
Berkshire adds to Apple, Phillips stakes
OMAHA, Neb. >> Warren Buffett’s company is taking an even bigger bite of Apple stock and adding to its sizable stake in Phillips 66. Berkshire Hathaway filed an update with regulators Monday on its roughly $130 billion U.S. stock portfolio. Berkshire said it held 15.2 million Apple shares at the end of June, up from the 9.8 million-share stake it first disclosed in the spring. Berkshire now owns 78.8 million shares in oil refiner Phillips 66, up from 75.6 million.
U.S. homebuilder sentiment rises in August
U.S. homebuilders are feeling more optimistic about the housing market this month, reflecting strong growth in new-home sales and prices.
The National Association of Home Builders/Wells Fargo builder sentiment index released Monday rose 2 points, to 60, following a downwardly revised reading of 58 in July.
Readings above 50 indicate more builders view sales conditions as good rather than poor. The index has mostly held at 58 this year since rising to 61 in January.
Foreign holdings of U.S. debt rose in June
WASHINGTON >> Foreign holdings of U.S. Treasury securities rose in June after falling in the two previous months.
The Treasury Department reported Monday that total foreign holdings climbed 1.1 percent in June to $6.28 trillion after declining 0.5 percent in May and 0.8 percent in April.
Japan, the second-biggest foreign owner of Treasury securities, increased its holdings by 1.3 percent to $1.15 trillion. That helped offset a reduction by China, the top foreign owner of Treasury debt, which trimmed its holdings in June by 0.3 percent to $1.24 trillion.
Hackers may have hit hotels in 10 states
NEW YORK >> An undisclosed number of people who used credit cards at 20 Hyatt, Sheraton, Marriott, Westin and other hotels in 10 states and the District of Columbia may have had their cards compromised as a result of a hack of the hotels’ payment system. HEI Hotels & Resorts, which operates just under 60 hotels and resorts under a variety of brands, said that after being notified by its credit card processor of a potential breach, it conducted an internal investigation that found malware on its payment processing systems at the 20 properties.
Aetna to quit most Obamacare markets
Health insurer Aetna Inc. will stop selling individual Obamacare plans next year in 11 of the 15 states where it has been participating in the program, joining other major insurers who’ve pulled out of the government-run markets in the face of mounting losses.
It will exit markets including North Carolina, Pennsylvania, Florida and Ohio, and keep selling plans in Iowa, Delaware, Nebraska and Virginia. While it won’t participate in the Affordable Care Act exchanges in those states, Aetna said in a statement Monday that it will offer individual coverage outside of the program’s exchanges in most of the areas.
The decision by Aetna is the latest blow to President Barack Obama’s signature domestic policy law. While it has brought coverage to millions, the new markets have proved volatile for some of the largest for-profit insurers, and UnitedHealth Group Inc. and Humana Inc. are also pulling out, after posting hundreds of millions of dollars of their own losses. Aetna said earlier this year that it expects to lose $300 million on the plans.
On the Move
Hilton Garden Inn Waikiki Beach has announced the following new members of its executive team:
>> John Taffin is general manager. He was previously chief operating officer of CoHo Services, where he managed 12 hotels, ranging from small properties to large convention meeting properties.
>> Stacy Manzo is director of sales and marketing. A 31-year veteran of the travel industry, Manzo formerly oversaw marketing and sales, catering and the reservations staff at the Aqua Kauai Beach Resort.
Fiji’s international airline, Air Pacific, has named Michael McQuay its new managing director and chief executive. McQuay was previously executive vice president of operations and chief operating officer of Hawaiian Airlines for the past year and a half.