BUSINESS BRIEFS
State given low economic ranking
Advertiser Staff
Hawai'i ranks as having the sixth-worst state nationally in a economic ranking by a conservative Washington, D.C. group.
The American Legislative Exchange Council's "Rich States, Poor States" said Hawai'i ranked poorly because of its "high personal and sales taxes, high minimum wage and workers compensation costs, poor tort litigation system and its forced unionism."
The report ranked state economies on 16 policy variables ranging from an "education freedom index score" to the top marginal personal income tax rate.
COSTCO LOOKS TO SELL OWN BEER BRAND
Costco Wholesale Corp. has applied to sell its own brand of beer at its stores in Hawai'i and elsewhere, according to Bloomberg News Service.
The Kirkland Signature label applications for pale ale, amber ale, hefeweizen and a lager were approved last week by the Alcohol and Tobacco Tax and Trade Bureau. Bloomberg reported Costco already offers Kirkland Signature wines and is one of the top sellers of wine in the U.S. On O'ahu, Costco has stores in Iwilei, Hawai'i Kai and Waipi'o. Costco also has stores on Kaua'i and the Big Island.
A&B MAINTAINS 29¢ DIVIDEND RATE
Alexander & Baldwin Inc., the owner of Matson Navigation Co. and Hawai'i real estate operations, said its board declared a dividend of 29 cents a share payable March 6 to shareholders of record as of the close of business on Feb. 15.
The company is maintaining the quarterly dividend rate of 29 cents paid the three previous quarters.
Alexander & Baldwin shares closed up 11 cents, or 0.2 percent yesterday at $47.75 on the Nasdaq Stock Market.
GAS PRICES REMAIN STABLE
The average price of a gallon of regular gasoline in Hawai'i has been relatively stable over the past month, though still remains 21 percent more than prices a year earlier, according to data from the American Automobile Association.
The AAA's Fuel Gauge Report Web site shows Hawai'i's statewide average fell to $3.480 from $3.481 last week.
The price was about 60 cents higher than a year earlier.
The national average increased at a faster pace during the year, rising to $2.988 from $2.158. That was about 39 percent higher than a year earlier.
YELLEN SPEAKS ON U.S. ECONOMY
Janet Yellen, president of the Federal Reserve Bank of San Francisco is scheduled to speak Thursday at the Annual Economic Forecast Dinner, sponsored by the Certified Financial Analysts of Hawaii.
Yellen is a member of the Federal Open Market Committee. the group headed by Fed Chairman Ben Bernanke that sets the course for monetary policy for the nation.
Yellen, one of three panelists invited to speak, will give her outlook for the U.S. economy and will take questions in a separate media roundtable-availability directly following her presentation.
VERIZON UPGRADES COST $17 MILLION
Verizon Wireless reported it invested more than $17 million in its network last year, adding and upgrading cell sites to improve call quality and enable more calls to be made.
The company said the investment brought to more than $157 million the amount it's invested in Hawai'i over the past seven years.
