BUSINESS BRIEFS
Gas price gap narrows to 51 cents
Advertiser Staff and News Services
The gap between average prices for retail regular gasoline and wholesale regular gasoline fell to 51 cents a gallon on O'ahu during the week ended Aug. 5, the state Public Utilities Commission reported.
That was down from a gap of 54 cents a gallon the prior week. Lawmakers mandated the disclosure in hopes it will discourage unfair pricing, after the suspension of Hawai'i's controversial gasoline price caps in May 2006.
The average retail price before taxes rose to $2.82 a gallon from $2.80 a gallon during the week ended July 29. At the same time, the average wholesale price rose from $2.26 a gallon to $2.31 a gallon.
The PUC's average wholesale price has been criticized as inaccurate and inflated because it combines different types of wholesale transactions into one price.
Under the program, oil companies must file monthly and weekly reports disclosing in some cases crude oil costs, wholesale prices, gross margins and other figures.
HEARST TENDER OFFER EXPIRES
Hearst Corp. said its tender offer had expired for all stock it didn't own in Hearst-Argyle Television Inc., the owner of 26 U.S. TV stations including Honolulu's KITV.
Hearst said all shares that had been tendered under its $32.50 a share offer would be returned to owners. The tender offer had faced resistance from a special independent committee that investigated it for Hearst-Argyle. The committee last month recommended shareholders ignore Hearst Corp.'s $590 million offer for shares, saying the price was "inadequate and not in the best interests of Hearst-Argyle Television stockholders, other than The Hearst Corp. and its affiliates."
Hearst owns a little more than two-thirds of Hearst-Argyle's outstanding shares.
BRIDGELOCK PICKS PCLENDER.COM
Bridgelock Capital has selected Honolulu-based www.PCLender.com to provide integrated mortgage imaging document and management software for use in its lending business.
www.PCLender.com provides mortgage loan application software, loan origination software and data security solutions for mid-sized banks. www.PCLender.com said it recently added the integrated imaging and document management product to its InHouse Mortgage Enterprise Lending System. Bridgelock Capital has offices in Woodland Hills, Calif.
PACIFIC NEWS BYTES HITS STANDS
The first issue of the new Pacific News Bytes magazine, published by local technology-focused company, Technology News Bytes, hit local shelves yesterday.
Pacific News Bytes is a bi-monthly technology magazine providing news and information about technology to businesses and consumers statewide and in the Pacific.
Pacific News Bytes provides news, features and expert advice from the top professionals in the technology industry.
The 80-page, all color, glossy magazine has many regular departments and special sections including Tech Showcase, Tech Watch, Tech Buzz, Tech Tips, Ask the Expert, Tech Entrepreneur, Women in Tech, Tech Marketplace, and Tech Scene, which appear in each edition of Pacific News Bytes magazine.
Pacific News Bytes is available at Barnes & Noble at Kahala Mall and Ala Moana Center, at GCI in Restaurant Row and Bestsellers Books & Music in Downtown Honolulu.
