Up to date business news from Pacific Business News of Honolulu

• Economists: Hawaii tax revenues down 2.5% March 12, 2010
  Hawaii’s Council on Revenues is maintaining its earlier prediction that tax revenues will fall 2.5 percent for the current fiscal year that ends June 30.
• Aston parent company flips to profit March 12, 2010
  Interval Leisure Group, parent company of Aston Hotels & Resorts LLC, returned to profitability in the fourth quarter, despite losses in the Hawaii market. (IILG)
• Hawaii stocks show mixed results March 12, 2010
  Hawaii stocks varied on Friday, following mixed economic reports on retail sales and consumer sentiment that led to modest changes on Wall Street. (ALEX) (BOH) (CPF) (MLP) (HE)
• Cyanotech warned about board composition March 12, 2010
  Cyanotech Corp. was warned on Friday that it is not in compliance with the Nasdaq Composite Index’s listing rules.
• State’s largest credit union adds 11th branch March 12, 2010
  HawaiiUSA Federal Credit Union will open a new branch in Pearl City April 5.
• Shidler REIT outsources leasing March 12, 2010
  Hawaii’s largest owner of office buildings will start outsourcing its leasing activity for 1.6 million square feet of office space in Honolulu next month to a new commercial real estate company.
• Queen Emma Bldg. to be sold at auction March 12, 2010
  A vacant 12-story downtown Honolulu office building known for its pimply facade will be sold in a foreclosure auction early next month
• JTB Hawaii moves from Aloha Tower March 12, 2010
  JTB Hawaii is moving its service center for Japanese visitors to Ala Moana Center next month after 10 years at Aloha Tower Marketplace.
• Tesoro rethinks Hawaii refinery operation March 12, 2010
  Tesoro Hawaii’s West Oahu refinery, the largest in the state, is losing money, prompting the company to determine whether to keep it in operation or just import crude oil.
• Hawaii tax revenues fall 3.5% March 12, 2010
  Hawaii’s total general fund tax revenues were down 3.5 percent to $2.78 billion for the first eight months of the fiscal year through February, compared with the previous fiscal period.