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August 22, 2010

PBN announces Fastest 50 winners

Filed under: term — Tags: , , — Moon @ 9:15 am

Pacific Business News named the winners of its 17th-annual Fastest 50 businesses-growth competition Thursday at a sold-out event at the Halekulani.

To qualify for the Fastest 50, companies had to have been in business since at least Jan. 1, 2007; had 2009 revenue that surpassed 2007 revenue; generated more than $100,000 in each of the past three years (but not more than $15 million); and, be a privately held business based in Hawaii.

Winners, ranked by growth between 2007 and 2009, are:

  1. Makaha Studios
  2. The Wedding Café
  3. Hawaii Tech Support
  4. Cam Security Inc.
  5. ComCon Technologies Inc.
  6. Ventura Technology Enterprises Ltd.
  7. Pacific Defense Solutions
  8. Rising Sun Solar Electric
  9. Leather Soul
  10. Soul Construction Inc.
  11. 21st Century Technologies Hawaii
  12. Elite Pacific Construction Inc.
  13. Big Island Power
  14. Dunhill Professional Staffing of Hawaii
  15. H Nu Photonics
  16. Aloha Technical Solutions
  17. Archinoetics
  18. Prototype Ops
  19. Jennings Pacific
  20. Pacific Instruments Inc.
  21. S. Reeve Designs Inc payday loans no teletrack.
  22. Bubble Shack Hawaiian Soap Co.
  23. PRTech
  24. Mac Made Easy Inc.
  25. Surfing Goat Dairy
  26. Allana Buick & Bers Inc.
  27. Corner Pharmacy Corp.
  28. Kina Ole Estate Ltd.
  29. Richard Matsunaga & Associates Architects Inc.
  30. Yogi Kwong Engineers
  31. Pukoa Scientific
  32. Prudential Advantage Realty
  33. Big Island Electric
  34. The KNG Group
  35. Matsumoto & Clapperton Advertising
  36. Starcom Builders Inc.
  37. Aloha Habilitation Services Inc.
  38. Bump Networks Inc.
  39. 101 Financial Group
  40. K&J Tire Center Inc.
  41. Hawaii Holiday Vacation Rentals
  42. Drs. Lee & Leong
  43. Tropical Dreams Ice Cream
  44. Wilson Homecare
  45. Lehua Physical Therapy & Rehab
  46. Integration Technologies Inc.
  47. Flagship Fastlube Inc.
  48. Big Island Mechanical & Construction
  49. Tropical Air Conditioning Inc.
  50. Divine Planet Inc.

Source

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July 26, 2010

Jobless claims jump in latest week

Filed under: finance — Tags: , , — Moon @ 9:36 am

The number of Americans filing for initial unemployment insurance climbed last week, the government said Thursday.

There were 464,000 initial jobless claims filed in the week ended July 17, up 37,000 from a revised 427,000 the previous week, the Labor Department said.

The number of claims was much higher than expected. A consensus estimate of economists surveyed by Briefing.com expected new claims to rise to 445,000.

"It’s very disappointing to have this leading indicator of economic conditions jump higher," said John Lonski, chief economist at Moody’s Economy.com. "This is the latest reminder of a weak labor market, and the jump preserves worries regarding the adequacy of economic growth."

The 4-week moving average of initial claims, which is calculated to smooth out volatility, was 456,000, up 1,250 from the previous week’s revised average of 454,750.

Continuing claims: The government said 4,487,000 people filed continuing claims in the week ended July 10, the most recent data available. That’s down 223,000 from the preceding week’s upwardly revised 4,710,000 claims.

Economists surveyed by Briefing.com expected ongoing claims to edge lower to 4,600,000 from the unrevised 4,681,000 in the previous week.

The 4-week moving average for ongoing claims fell by 21,500 to 4,567,000 from the preceding week’s revised 4,588,500 no fax payday loans.

Outlook: Lonski said the latest rise in jobless claims is consistent with worries about the labor market, consumer spending and the general health of the U.S. economy.

"The jump in jobless claims signals more coming in the way of a slack labor market that will curb the growth of wages and employment income, and thereby consumer spending," he said. "And this just reinforces a mediocre or lackluster outlook for job growth going forward."

Earlier this month, the government said the U.S. economy lost jobs in June for the first time this year. And Lonski said that given the lack of improvement in the labor market and consumer sentiment, we could be in store for another gloomy jobs report next month.

"This is a warning that we are unlikely to receive an upside surprise in the form of a better-than-expected reading on July payrolls," said Lonski. "Despite doing better in terms of profitability and sales, companies have not stopped laying off staff and are not yet in an expansionary mode." 

Source

July 20, 2010

No pay cut for California workers - for now

Filed under: business — Tags: , , — Moon @ 8:36 pm

A judge on Friday ruled against California Gov. Arnold Schwarzenegger’s request to force the state controller to cut 200,000 state employees’ pay to minimum wage temporarily.

The ruling was a boost for State Controller John Chiang, who for weeks has refused to carry out the cuts.

But the fight isn’t over yet. Sacramento County Superior Court Judge Patrick Marlette scheduled another court session for July 26, a spokeswoman for Chiang’s office said.

Schwarzenegger moved in July to cut 200,000 state workers’ wages to $7.25 an hour starting Aug. 1. But Chiang said he would not make the cuts and would wait until he completed an appeal of another court’s ruling on a similar pay cut order from 2008.

Schwarzenegger’s office sued Chiang last week in an effort to force him to make the cuts, but Chiang promptly filed a cross-complaint alleging that the order violates federal and state law.

The judge said he ruled for Chiang "because the issue of cutting workers’ pay needed more consideration and the controller shouldn’t be forced to make the cuts immediately," according to Chiang’s spokeswoman.

In his refusals, Chiang has also said the payroll computers aren’t equipped to make the cuts, but the court declined to rule on that subject. Chiang’s spokeswoman said Marlette wants that issue to be resolved before the end of August.

"We are confident we will continue to win on the merits of this case, as we already have done twice," Schwarzenegger’s spokeswoman said in a statement. "We hope the legislature passes a budget by then so we don’t have to pay our employees minimum wage."

Marlette’s office did not have comment late Friday.

California budget stalemate: The move to cut paychecks stems from a larger fight over how to close a $19.1 billion budget shortfall. California’s fiscal year began July 1, and Schwarzenegger and the legislature have yet to agree on a budget.

State workers have gotten caught in the crossfire. Schwarzenegger’s proposed salary reductions would cut across all job types and pay scales, though affected workers would receive back pay when the budget is passed.

Republicans want severe cuts to state social services such as welfare and Medicare, instead of hiking taxes. But Democrats oppose the program cuts and instead want tax increases on industries such as oil production. 

Source

July 14, 2010

L-3 Commmunications unit wins $53.8M defense contract

Filed under: technology — Tags: , , — Moon @ 7:15 pm

Nova Engineering, a unit of L-3 Communications, landed a contract worth up to $53.8 million to provide and maintain a remote sensor system for the Department of Defense.

According to a DOD news release, Cincinnati-based Nova will provide the department with equipment, upgrades and repairs, and program management for its Tactical Remote Sensor System payday loans. The technology allows for all-weather remote monitoring of specific areas.

The work will be performed at Nova’s Cincinnati operations and is expected to be completed by July 2015.

Source

July 1, 2010

High-speed rail competes for federal funds

Filed under: management — Tags: , , — Moon @ 2:15 am

California’s high-speed rail officials said Monday they will compete for a share of an additional $2.3 billion in federal funds for such train projects nationwide.

Federal Railroad Administration officials announced they will start accepting applicants to disseminate $2.1 billion in grants for high-speed intercity passenger rail projects. The agency will also make available $245 million for individual construction projects within a high-speed rail corridor.

This will be in addition to the $8 billion in federal stimulus funds that were awarded to high-speed rail projects last fall. California was able to secure $2.2 billion of that amount to help kick-start its proposed 800-mile, $45 billion statewide high-speed rail network connecting Southern California with the Bay Area and Sacramento payday loans.

“The High-Speed Rail Authority and California will compete aggressively for our share of these funds to supplement the federal stimulus funds we have already been awarded and the state funds committed to the project by the people of California," said Curt Pringle, chairman of the rail authority’s board of directors, in a statement. "We will continue to move forward with building the nation’s first high-speed rail system because we know it will create jobs, economic opportunity for Californians and improved mobility for our state.”

Source

June 4, 2010

First-time jobless claims fall

Filed under: money — Tags: , , — Moon @ 4:57 pm

The number of Americans filing for their first week of unemployment insurance fell slightly last week, according to a weekly government report released Thursday.

There were 460,000 initial jobless claims filed in the week ended May 22, down 14,000 from an upwardly revised 474,000 the previous week, according to the Labor Department’s weekly report.

The number of claims was slightly higher than expected. Economists surveyed by Briefing.com forecast new claims to fall to 455,000.

Initial claims have been caught in the mid- to upper-400,000s since November, and economists want to see it move below that bar before calling the start of a recovery.

"It’s a stagnant employment situation, and that’s not a good thing," said Dan Egan, president of the Massachusetts Credit Union League. "We were expecting and hoping we’d see a greater gain in jobs during this time."

Fears of a double-dip recession and the costs tied to hiring new employees still have business owners in a "cautionary mode," said Egan faxless payday advance. Employers need to see consistent improvement in the real estate sector before they really start ramping up their hiring, he said.

The four-week moving average for weekly initial claims was 456,500, up from 454,250 the previous week. The Labor Department tracks the four-week average of the weekly figures, to smooth out the volatility of the measure.

The report also said 4,607,000 people continued to file unemployment claims for their second week or more during the week ended May 15, the most recent data available. That’s down from an upwardly revised 4,656,000 the week before.

Standard unemployment benefits usually last 26 weeks. The continued claims number does not include those who have moved into state or federal extensions, or people whose benefits have expired but may still be without a job.

The national unemployment rate currently stands at 9.9%. 

Source

May 29, 2010

Bischmann to lead Harley-Davidson’s communication efforts

Filed under: economics — Tags: , , — Moon @ 6:54 pm

Milwaukee heavyweight motorcycle manufacturer Harley-Davidson Inc. has named Joanne Bischmann vice president of communications, effective immediately.

A 20-year company veteran, Bischmann reports directly to Harley-Davidson president and CEO Keith Wandell.

“Joanne has a wealth of professional and company knowledge and experience,” Wandell said. “I am extremely pleased that she has accepted this position and we are fortunate to have her bring her strong leadership capabilities to this critical role for the company.”

Bischmann replaced Susan Henderson, who recently resigned for what company management announced as “personal reasons.”

In her new role, Bischmann is responsible for overseeing all aspects of internal and external communications for the company. She will also retain responsibility for the meeting and travel functions.

Bischmann joined Harley-Davidson (NYSE: HOG) in 1990 and has served in a variety of positions, including vice president of marketing and most recently as vice president of licensing and special events.

Bischmann serves on the board of directors of the Betty Brinn Children’s Museum and is the vice president of the board’s development and strategic planning committee.

Source

May 5, 2010

Stream to hire 500 in Beaverton

Filed under: term — Tags: , , — Moon @ 7:45 am

Customer service company Stream Global Services Inc. plans to hire nearly 500 in Beaverton.

The Wellesley, Mass.-based company (NYSE: SGS) provides outsourced customer support, including sales, customer care and technical support, for a variety of companies, including some in the Fortune 1000.

The Beaverton hiring spree is the result of a new consumer electronics client that requires outsourced customer service for its gaming products.

After the hiring binge, Stream will employ more than 1,000 in Beaverton.

Hiring will begin immediately.

The company employs roughly 30,000 at 50 locations in 22 countries.

Stream Global Services stock ended trading Thursday at $6.85 per share, up 3 cents. The stock has a 52-week range of $3 to $7.38.

Source

April 21, 2010

Skip the mortgage, pay the credit card

Filed under: economics — Tags: , , — Moon @ 4:48 pm

Millions of Americans are not only upside down on their mortgage, they also appear to be shunning that monthly payment in favor of meeting their everyday expenses.

In the state of California, for example, more than 10% of credit card-carrying consumers were choosing to pay that bill rather than their mortgage as of last fall, according to a recent study published by the credit reporting agency TransUnion.

Borrowers across the country have also been just as anxious to pay down their home equity line of credit rather than their primary mortgage, based on recent figures from the FDIC, if for no other reason but to continue using their house like an ATM.

History has shown that when cash-strapped consumers are trying to make ends meet, the mortgage is often the first thing people stop paying, said Scott Hoyt, senior director of consumer economics at Moody’s Economy.com.

When the U.S. housing market bubble burst, it had that exact effect, shaking up consumers so-called "payment hierarchy."

In good economic times, consumers usually pay the mortgage first, car loan second, and their credit cards and everything else after that.

So with many economists declaring that the recession is likely over, you’d expect more consumers to go back to paying their mortgage first. That’s not happening.

The TransUnion study revealed that the number of consumers who were delinquent on their mortgage but current on their credit card stood at 6.6% in the second half of 2009, up from 4.3% at the start of 2008.

Elevated unemployment levels have helped fuel the change in consumer behavior. But other factors are also at work, according to experts.

For most borrowers, paying the credit card or home equity line of credit is simply more feasible than trying to tackle a significantly larger mortgage payment.

Others have gotten wise to the fact that even after they stop making payments on their mortgage, chances are they won’t be evicted from their home until much, much later. In states such as Florida, for example, foreclosure proceedings have been known to take as long as 18 months.

More often than not however, struggling homeowners simply want to maintain some access to credit in the event they need to take care of their day-to-day expenses such as groceries or to fix the broken muffler on their car.

Unlike in years past where it was relatively easy for questionable borrowers to secure a credit card or home equity loan, banks now make it much more difficult for borrowers to secure a line of credit, said Ezra Becker, director of consulting and strategy in TransUnion’s financial services unit.

Banks have also tried their own programs aimed at getting consumers back on track. Some have attempted modifications on borrowers’ primary mortgage and home equity loan.

The nation’s four largest banks - Citigroup (C, Fortune 500), Wells Fargo (WFC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500) - recently agreed to participate in the Obama administration’s Second Lien Modification Program, which aims to stem the rising tide of foreclosures by having banks modify a borrower’s second mortgage.

In instances where consumers have loans with two different financial institutions, banks have tried collaborating in order to minimize losses for both the lender and the borrower, said Shelley Leonard, senior vice-president of consumer lender strategy for Lender Processing Services, a provider of mortgage data to the banking industry.

"I think all the banks are interested in the best outcome for the borrower," she said. "In order for that to be achieved, they will have to address the first and second mortgage."

Others have adopted a proactive approach with customers believed to be at risk of faltering on their loan payments, in an effort to mitigate losses.

The Birmingham, Ala.-based Regions Financial (RF, Fortune 500), for example, implemented a financial check-up in late 2007 on some of its largest mortgage holders or those with adjustable-rate mortgages that were poised to reset.

That appeared to have some success as the percentage of loans in the company’s mortgage portfolio that were in foreclosure stood at 1.95% at the end of last year, less than half the national and regional average, said Barb Godin, an executive in Regions’ consumer credit division.

Consumers are unlikely to stick to such unorthodox financial behavior for good. Experts said that eventually, homeowners will once again start paying their mortgage before everything else.

But for that to happen though, notes Moody’s Hoyt, home prices will have to start improving first. 

Source

April 16, 2010

Earth City-based project makes pig manure hit the road — as asphalt

Filed under: business — Tags: , , — Moon @ 7:48 pm

EUREKA — For now and into the foreseeable future, a portion of the road leading to Six Flags St. Louis will be paved with a lot more than good intentions.

It will be covered as well with serendipity, ingenuity, creative persistence and … recycled swine manure.

All that ingenuity has gone into a project believed to have created the first asphalt ever produced from the stuff. And one thing’s for sure:

The witnesses lining the bright stretch of North Outer Drive along Interstate 44 — particularly those with noses and an abiding interest in sustainable technology — won’t soon forget the moment the red dump truck deposited a 15-ton load of the designer asphalt into a road paver late Wednesday morning.

"Whew!" gasped a worker with Pace Construction Co., the St. Louis County road contractor that joined forces with Innoventor, the Earth City-based engineering and design firm that perfected the process of converting the animal waste into a bio-oil used in asphalt binder.

To others, the air swelled with the sweet smell of potential for new manufacturing opportunities, jobs and, possibly, profits. How big is that potential? Nobody knows yet.

"If this works out, it’s a win-win situation for everyone," said Karlton Krause, a hog producer from northern Iowa. "For farmers, it produces revenue. And at the same time, it helps clean the environment. We’re taking a waste product and finding a value-added purpose for it."

The road leading to Six Flags, such as it, began 10 years ago when neighbors started raising a stink over the odors at the hog farm operated by Kent Schien’s in-laws in Barry, Ill., east of Hannibal, Mo., about 125 miles from St. Louis.

Schien, Innoventor’s founder and chief executive, is among the legions of former McDonnell Douglas engineers who left the aerospace giant to start their own companies.

A native of Barry himself, Schien understood the pitfalls of alienating the folks next door in a small town where, as likely as not, the neighbors were also cousins, aunts and uncles.

He turned the problem over to his engineers, who soon developed a technique to "scrub" animal odor as it moved outdoors through fans installed on the outer walls of swine sheds.

Schien was justifiably proud of the company’s accomplishment — until he ran into an acquaintance, also a prominent hog producer. The acquaintance praised the invention for removing the stink. But, he pointed out, an air scrubber is not a revenue generator.

What farmers really needed, he suggested, was an invention capable of turning swine waste — up to 8 pounds of it a day per animal — into a money-maker.

Seeking an answer, Schien returned to his alma mater, the University of Illinois, where an agricultural engineering professor named Yuanhui Zhang was developing a process to transform pig manure into bio-oil.

About three years ago, Schien wedded Zhang’s research with the Innoventor team and put Rick Lux, an engineer with a background in biofuels, in charge of the project.

Lux tackled the mission on two fronts: the former Earth City warehouse space that Innoventor converted into an office, adorned with the names of inventors such as the Wright Brothers and Louis Pasteur. And Rick Rehmeier’s hog farm, outside Augusta, which became an off-site laboratory where the team discovered situations and problems they never expected to encounter.

"I don’t think I ever had a class (in engineering school) that ever covered that," said engineer Gary Winkler, referring to the hog manure pit now integrated into his professional life on line pay day loans.

The objective, Lux understood, was to turn time on its head by compressing the process that created crude oil from decomposed critters that died ages ago.

To reach that goal, the team drew on chemistry, engineering and innate common sense in developing a multiple-stage system that ultimately moved the manure into a reactor, which applies heat and pressure to the waste material.

"Instead of taking 10,000 years, they can (produce bio-oil) in about an hour," said Michael Formica, chief environmental counsel with the National Pork Producers Council.

As Lux and the engineers grappled with the biggest obstacle standing between Innoventor and success — pig hair and dander that constantly "chewed up" grinders and pumps — it seemed they might not be able to improve on Mother Nature’s timeline.

By this winter, though, Innoventor was ready to move to the next phase.

The team got a big boost when tests conducted on the paving material received a passing grade as a "lower-grade asphalt binder" from John Wenzlick, a research engineer with the Missouri Department of Transportation.

And Wednesday morning came the biggest test of all.

The sun was still coming up when Lux pulled into the lot of an asphalt plant operated by Pace Construction in a limestone quarry about six miles from Six Flags, the bed of his Innovator pickup truck loaded with 20 gallons of the bio-oil.

Five hours later, a chute beneath a Pace silo dropped a batch of pig asphalt into the red dump truck operated by Mike Cain of Dittmer, Mo.

As Pace employees shoveled the asphalt into buckets for testing in an on-site lab, Cain asked a reporter to confirm the reason the load was drawing so much attention. He got the confirmation; it was exactly what he thought it was.

He sniffed the air. "Smells nasty," the driver continued. "But I live in the country; I’m used to it."

Within minutes, Cain was backing his truck up to the paver.

In the coming weeks and months, MoDOT and Innoventor intend to keep a close eye on the 500-foot stretch where history, of a kind, was made Wednesday morning. The state will monitor wear and tear on a road subjected to a lot of traffic in the seasons when the amusement park is open for business.

Lux and Innoventor see the earlier blessing by MoDOT as permission to move their work to a larger platform.

"We’ll keep going ahead," he said, as workers tamped down the still-fresh asphalt with rolling machines. "We’ve shown this stuff can be processed at the farm, processed at an asphalt plant and put down on a road."

Other parties will be keeping an eye on what Innoventor has wrought as well.

The U.S. Environmental Protection Agency has an obvious interest in what Glenn Curtis, the chief of wastewater and infrastructure management for the Kansas City field office, calls a "fairly unique concept."

And Formica, with the Pork Producers Council, believes it is important to ascertain whether the value of manure-generated bio-oil offsets the cost the electricity, conventional fuel and other expenses needed to produce the substance.

As for Schien, he is making plans to manufacture the prototype on Rehmeier’s farm for use at hog production facilities across the nation.

The plant, he says, will be located in the place where it all began: Barry, Ill.

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