BUSINESS BRIEFS
Jobless can get extra 7 weeks of aid
Advertiser Staff and News Services
Hawai'i residents who have exhausted their unemployment benefits will be eligible for an additional seven weeks of federal unemployment benefits, the state announced yesterday.
The Department of Labor and Industrial Relations said residents who have used up their 26 weeks of state benefits and 13 weeks of federal Emergency Unemployment Compensation benefits will be able to apply for the additional compensation. The extra seven weeks was authorized by President Bush under the Unemployment Compensation Extension Act of 2008 and became effective Nov. 23.
Darwin Ching, labor department director, said his department is in the process of identifying individuals who have already exhausted their first 13 weeks of federal EUC benefits. These people will be notified on how to reactivate their claims to file for the additional seven weeks.
For more information, call one of the following unemployment insurance offices: Honolulu, 586-8970 or 586-8971; Waipahu, 675-0030; Maui, 808-984-8400; Moloka'i, 808-553-1750; Hilo, 808-974-4086; Kona, 808-322-4822; Kaua'i, 808-274-3043.
A&B SELLS CALIFORNIA BUILDING
Alexander & Baldwin Inc. said it has sold a five-story office building in California for an undisclosed price.
The sale, made by subsidiary A&B Properties Inc., generates proceeds that A&B said will be invested in real estate with greater appreciation potential on a tax-deferred basis.
A&B said the building in the South Natomas suburban office district of Sacramento, Calif., sold for a "favorable" price that reflected appreciation in real estate values and strong tenancy under its ownership.
The 100,000-square-foot building reduced A&B's commercial investment real estate portfolio to 7.5 million square feet of office, retail and industrial space in Hawai'i and eight Mainland states.
MOST HAWAI'I STOCKS TAKE A DIVE
Hawai'i stocks mostly tumbled as the broader market fell on concerns about the economy.
Central Pacific Financial led decliners as it shed $2.48 a share and closed down 19 percent at $10.32.
Other local stocks that fell included Maui Land & Pineapple, which was off $1.87, or about 16 percent, at $9.36. Also recording double-digit percentage losses were Alexander & Baldwin, Bank of Hawaii and Hoku Scientific.
Barnwell Industries and Cyanotech Corp. both charted increases, rising 4.6 percent and 3.6 percent, respectively.
ABC MUSIC TO AUCTION OFF INVENTORY
ABC Music on Cooke Street has closed its doors and will auction its inventory Sunday at Kawananakoa Middle School.
Bidders can preview the merchandise from 10 a.m. to 5 p.m. Saturday in the school cafeteria, at 49 Funchal St., and from 7 to 10 a.m. Sunday. The auction will begin at 10 a.m. Sunday.
More than a half a million dollars of inventory will be liquidated, including electronic studio equipment, keyboards, upright pianos, baby grand pianos, violins, acoustic basses, electric guitars, 'ukulele, saxophones, trumpets, clarinets and various musical accessories.
Bids also may be submitted at http://www.proxybid.com and a full inventory of items available for viewing at www.pacificbid.com.
ABC Music is an authorized dealer of Yamaha musical instruments. Pacific Bid LLC will oversee the auction. A portion of the proceeds will go to the Honolulu Symphony and its community programs.
