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Hawaiian Airlines announced a significant boost in interisland fares on Wednesday, along with increased service fees and a $25 charge for checking a second bag on Mainland flights.

The airline is raising interisland fares by $5 to $20 each way beginning Thursday. Hawaiian’s lowest fare will increase from $49 to $54. The company said an additional $5 will be charged to customers flying between Honolulu and Hilo and Kona to cover the fuel costs for the longer flights.

The airline said it had to raise prices to help cover dramatic increases in the price of jet fuel. The move is the first since the shutdown of Hawaiian’s primary interisland competitor, Aloha Airlines, on March 31.

"The sudden shutdown of airlines locally and nationally these past few weeks shows how critically important it is for Hawaiian to cover its costs," said Mark Dunkerley, Hawaiian Airlines president and CEO.

Customers who choose to buy tickets over the phone through Hawaiian’s reservations department will also pay an additional $5 each way, an effort by the airline to get more customers to book their flights online.

Hawaiian also announced it will begin charging passengers a $25 fee each way for checking a second bag on domestic flights between Hawaii and the Mainland. The fee will not apply to interisland flights or to transpacific international flights to the Philippines, Australia, American Samoa and Tahiti. The baggage fee starts June 10.

Hawaiian joins a number of its larger competitors in charging for the second bag, which is seen as a way of generating new revenue and cutting down on weight aboard flights, which saves fuel cash advance loans.

Also on Wednesday, Hawaiian Holdings reported a loss of $19.9 million, or 42 cents per share, on operating revenue of $251.2 million during the first quarter.

The parent company of Hawaiian Airlines (Amex: HA) cited record fuel prices as one of the reasons for the loss.

Aircraft fuel costs increased 53.5 percent year-over-year to $91 million and represented about 33 percent of operating costs, the company said.

"Like every other U.S. carrier, record fuel prices and excess capacity were the major negative influences on our first quarter results," Dunkerley said. "Since Aloha and ATA did not cease operations until after the quarter’s end, our results for the period were not affected by these material developments."

Dunkerley said the airline is better positioned to meet the rising fuel costs now that capacity has been reduced by the Aloha and ATA shutdowns and demand for the company’s services have not slowed. Hawaiian reported an operating loss of $22 million in the first quarter of 2008 compared to a loss of $16.1 million in the first quarter of 2007.

Shares of Hawaiian Holdings closed up slightly on Wednesday to $7.95.

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A day after a contentious Washington Mutual Inc. shareholders meeting, the troubled Seattle thrift said that all of its directors up for election received a majority of shareholder votes.

An early tally released Tuesday by union pension advisory group Change to Win Investment Group, which has lobbied against the company's board, indicated that two board members did not receive a majority of shareholder votes, but on Wednesday, Washington Mutual officials said all board members received majority votes.

Mary E. Pugh, chair of the bank's finance committee, stepped down before the start of Washington Mutual's volatile annual meeting. Pugh had been among the directors strongly criticized by shareholder groups upset about the thrift's mounting losses.

The bank did indicate that a plan for an independent board chairman, which was opposed by the board, was approved by shareholders by a preliminary margin of 51.5 percent to 47.1 percent margin

Washington Mutual released the following preliminary results payday loans in 1 hour. Final vote totals will be reported in the company's (NYSE: WM) second quarter 2008 Form 10-Q, released in three months.

Director Percentage of Votes and Percentage of Votes Withheld

• Stephen I. Chazen 93.73% 6.27%
• Stephen E. Frank 61.05% 38.95%
• Kerry K. Killinger 88.85% 11.15%
• Thomas C. Leppert 94.02% 5.98%
• Charles M. Lillis 59.21% 40.79%
• Philip D. Matthews 69.77% 30.23%
• Regina T. Montoya 73.52% 26.48%
• Michael K. Murphy 73.08% 26.92%
• Margaret Osmer McQuade 60.91% 39.09%
• Mary Pugh 50.04% 49.96%
• William Reed Jr. 73.22% 26.78%
• Orin Smith 94.05% 5.95%
• James H. Stever 57.68% 42.32%

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The Dr. P. Phillips Foundation named Rob Mellen as its president, following J.A. "Jim" Hinson’s retirement from the position.

Hinson has been with the Dr. Phillips Charities, which are made up of the Dr. Phillips Inc.and the Dr. P. Phillips Foundation, since 1957. He started as a bookkeeper and has been president of the organization for the past 23 years.

Mellen has been serving as president of Dr. Phillips Inc. since November.

Hinson will continue to serve as chairman of the board and act as a consultant to the organization pay day loans.

Hinson has served on a number of other boards including: the Committee of One Hundred of Orange County, Metropolitan YMCA, Ivanhoe Foundation, the Dr. Phillips YMCA, the Orange County Citizens’ Commission for Children, Junior Achievement and United Arts.

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The Dow closed down 16.61 at 12,609.42 on Friday.

The NASDAQ finished up at 2,370.98.

The S&P 500 ended up 1.09 at 1,370.40.

Here's how some leading Colorado companies performed Friday:

Apartment Investment and Management Co. (NYSE: AIV) — down $1.56 to $38.67

Ball Corp. (NYSE: BLL) — up 43 cents to $48.29.

Chipotle (NYSE: CMG) — down $2.39 to $116.66 payday advance lender.

Ciber Inc. (NYSE: CBR) — down 3 cents to $5.33.

Cimarex Energy (NYSE: XEC) — up 24 cents to $58.27.

CoBiz Inc. (NASDAQ: COBZ) — down 10 cents to $13.30.

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The region’s main business attraction group is headed to Great Britain to recruit foreign investors and businesses.

The Greater Phoenix Economic Council is spearheading the trip to London and Cambridge. The goal is to attract aerospace, biomedical and technology investments and businesses.

The five-day trip will start March 31. Investment banking firm Columbia West Capital LLC and the Squire Sanders & Dempsey LLP law firm are co-hosting the trip and recruitment events along with GPEC payday loan.

GPEC reports that the sluggish U.S. economy has reduced domestic business expansions and relocations, but that international investments in the U.S. are up in part due to the weak dollar.

For more: www.gpec.org.

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Japan's export growth unexpectedly quickened in January, as rising demand for cars and steel from China and Russia made up for falling U.S. sales.

Exports, the engine that drove almost half of the economy's expansion last quarter, rose 7.7 percent, from December's 6.9 percent gain, the Finance Ministry said today in Tokyo. The median estimate of 18 economists surveyed by Bloomberg was for a 6.6 percent increase.

Shipments to Asia and Europe rose to records for the month, as growing consumer classes in China, India and Russia create new customers for exporters including Mitsubishi Motors Corp. and Matsushita Electric Industrial Co. Exports to the U.S. fell for a fifth month amid the worst housing slump in 26 years.

“The good news is the destinations for Japan's export products have become far more diversified,'' said Jan Lambregts, head of Asia research at Rabobank International in Hong Kong. The bad news is that “a protracted U.S. recession would be much harder to shelter from.''

The yen was little changed, trading at 108.10 per dollar at 12:13 p.m. in Tokyo from 107.99 before the report was published.

The International Monetary Fund last month forecast emerging economies will expand 6.9 percent in 2008, compared with 1.5 percent growth in the U.S. China will expand 10 percent.

Waning demand in the U.S., the world's biggest economy, will eventually take its toll on the emerging markets where Japan ships about half its goods, Economic and Fiscal Policy Minister Hiroko Ota said last week.

`Feel Some Pain'

“We still haven't felt the hit of slowing growth in Asia,'' said Martin Schulz, a senior economist at the Fujitsu Research Institute in Tokyo. “We're going to feel some pain.''

Exports to Asia gained 8.2 percent to 3.04 trillion yen ($28 billion), the largest amount for the month of January, today's report showed. Shipments to Europe rose 10.6 percent to 993.1 billion yen, also a record for the month.

Imports climbed 9 percent from a year earlier on surging oil costs. Rising imports, combined with a New Year holiday that erased three business days for Japanese shippers, caused the trade deficit to widen to 79.3 billion yen fast cash advance loan.

Japan tends to have a deficit in January, when ports are closed for the New Year holiday. The country had a shortfall of 3.5 billion yen in January 2007.

Mitsubishi Motors, Japan's fastest-growing auto exporter, said last month its exports last year surged 41 percent, led by demand from Russia. Russian sales jumped 46 percent in 2007.

Matsushita Sales

Matsushita, the nation's largest consumer electronics maker, said last month it expects sales to rise 25 percent next fiscal year in Brazil, Russia, India, China and Vietnam.

Shipments to the U.S. accounted for only about 20 percent of total exports last year, compared with about 30 percent in 2000. In the same period, China's share jumped from 7 percent to 15 percent. Sales to Russia doubled in the past two years.

Japan's economy grew an annualized 3.7 percent last quarter, double the pace economists expected, a report showed last week, as sales to Asia helped companies weather the U.S. slowdown.

Still, there are signs that Japanese manufacturers are bracing for a slowdown. Machinery orders fell for a second month in December and manufacturers said they plan to cut production in back-to-back months for the first time in almost three years.

Slower Profit Growth

Canon Inc., Japan's biggest camera maker, last month forecast that belt-tightening among U.S. consumers will cause sales in the Americas to fall for the first time in nine years. Profit will grow at its slowest pace in as many years, the company said, as a weakening dollar erodes the value of earnings when they're converted back into yen.

Japan's currency has gained 3.5 percent against the dollar this year. Canon said the yen will average 107 a dollar in 2008.

IMF Managing Director Dominique Strauss-Kahn said this month that emerging markets are “not immune'' from a weakening U.S. economy. The ability of developing countries to sustain growth as the U.S. cools has been “exaggerated,'' he said.

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Portland real estate magnate Tom Moyer will remake the derelict Cornelius Hotel into business-class accommodations.

The Cornelius Hotel, at Southwest Alder Street and Park Avenue, was built in 1908 and sports a grand lobby but has been closed for several years. Moyer acquired the historic property in 2002 for $2.4 million, according to Multnomah County property records.

The hotel is being renovated by Moyer’s firm, TMT Development Co., in partnership with TVA Architects.

Renovations should start in June and will take about 12 months. The hotel, to be renamed the Alder Park Hotel, opens in June 2009 with 66 rooms, a rooftop deck and other green features as well as basement meeting rooms and a restaurant and bar at street level.

Peter Meijer Architect LLC will serve as historic consultant to TVA. The building was originally designed by Bennes Hendricks and Tobey and was operated by Dr. Charles W. Cornelius, brother of Col. Thomas R. Cornelius, for whom the town of Cornelius was named.

In other real estate news:

Office

• Vesta has leased 20,144 square feet of office space at the Park 217 Business Center in Tigard. Kevin Joshi and Josh Schweitz of GVA Kidder Mathews represented owner WCV Properties.
• Precash Inc., a financial transactions processing, reserve and clearinghouse, has leased 20,013 square feet of office space at the Commonwealth Building, 421 S.W. Sixth Ave. The Grubb & Ellis team of Eric Haskins, Jake Lancaster and David Squire represented the property owner, Unico Properties LLC, dba Commonwealth Acquisition LLC. Chris Elsenbach of Cresa Partners represented Precash.
• Portland Adventist Medical Center has leased 19,123 square feet of office space at Airport Center I in Portland. Jim Carver and Sean McCarthy of GVA Kidder Mathews brokered the lease.
• Ambric Inc., an electronic parts and equipment business, has leased 10,425 square feet of office space at Greystone One at the Woodside Corporate Park in Beaverton. Eric Haskins, Jake Lancaster and David Squire of Grubb & Ellis represented Greystone owner Triple Net Properties LLC. Chris Elsenbach of Cresa Partners represented Ambric.
• Evergreen Engineering LLC has renewed its lease for 8,617 square feet and an expansion lease for 5,700 square feet of office space at Technology Center One in Hillsboro. Miles Von Bergen of Capacity Commercial Group LLC represented the owner, BH Properties LLC. Scott Weigel of CB Richard Ellis represented Evergreen http://paydayloans-on.com.
• Dr. Richard R. Rosenfield has signed an expansion lease for 6,194 square feet of office space at The Pearl Women’s Center, a medical office building at 120 N.W. 14th Ave. Don Drake of Melvin Mark Brokerage Co. represented the owner, Harsch Investment Properties. Jan Bottcher of CB Richard Ellis represented the physician.

Industrial

• Power Freight Systems Inc. has leased 69,630 square feet of industrial space at Pinefarm Place in Hillsboro. Steven Klein and Peter Stalick of GVA Kidder Mathews represented owner Summit Properties Inc. Miles Von Bergen of Capacity Commercial Group represented Power Freight.
• Avid Health Inc. of Vancouver has leased 23,520 square feet of food product distribution space at Quad 205 Distribution II, 3801 N.E. 109th Ave. William Connelly of Eric Fuller & Associates represented the owner, Kittelson Properties.
• Intercontinental Medical Services paid $9 million for a 90,000-square-foot industrial facility in the 5300 block of Northeast Elam Young Parkway in Hillsboro. Brad Fletcher, Eric Haskins, Jake Lancaster and David Hill of Grubb & Ellis represented the seller, McMorgan Institutional Real Estate. Mike Thomas of Colliers International represented Intercontinental.
• Via West Inc., which provides Internet services, has leased 24,247 square feet of industrial space at the Westbrooke Corporate Center in Hillsboro. Matt Adams, Jake Lancaster and David Squire of Grubb & Ellis represented Westbrooke owner Principal Life Insurance Co.
• Kendall Construction Inc. has leased 11,250 square feet of industrial space at 158th Commerce Park in Northeast Portland. Tony Reser and Tom Talbot of GVA Kidder Mathews represented owner Walton CWOR 158th Commerce Park 10 LLC and Kevin Murphy of GVA Kidder Mathews represented Kendall.

Apartment sale

• The Forest and Garden Apartments, a 51-unit complex in Northwest Portland, has sold for $4.75 million, or $93,137 per unit. The capitalization rate, or return on the investment, is projected at 3.6 percent. The buyer was Portland-based Real Estate Recovery Associates-13th Street Investors LLC. Bill Younce of Sperry Van Ness represented the buyer. The seller was a family trust represented by Riverview Bank.

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The number of tourists choosing to stay in Hawaii hotels dropped in 2007, with more staying in condos, time shares and on cruise ships.

The visitor data was released Friday by the Hawaii Department of Business, Economic Development and Tourism.

On Oahu, 3.37 million stayed in a hotel in 2007, as compared with 3.47 million in 2006.

On Maui the hotel numbers declined from 1.33 million to 1.28 million, while on the Big Island the drop was from 983,000 to 942,000.

Only Kauai saw a rise in hotel bookings, from 602,000 to 630,000 payday loans application.

Visitors choosing to stay in condos and time shares and on cruise ships on all four islands last year was up significantly or remained similar to 2006 figures.

Those choosing to stay at a bed and breakfast on Oahu, Maui and the Big Island all dipped slightly in 2007, while on Kauai those numbers increased.

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Terry Semel resigned as chairman of Yahoo Inc. Thursday.

Sunnyvale-based Yahoo (NASDAQ:YHOO) said Roy Bostock will replace Semel as the nonexecutive chairman of its 10-member board.

The company said Semel made the decision to step down several months ago after resigning as chief executive but stayed on until a new chairman was selected.

"With the company moving forward under new leadership, I believe this is an appropriate time for me to step down from the board," Semel said in a statement payday loans.

Company co-founder Jerry Yang replaced Semel as CEO in June.

Bostock has not been popular with some shareholders because of his role in Semel's rich pay package in 2006, valued at $71.7 million in a year in which the company's market value dropped by 35 percent, or about $20 billion.

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Treasury Secretary Henry Paulson said the $150 billion economic stimulus package worked out by President George W. Bush and U.S. House leaders was a “rare bipartisan moment'' that's likely to be repeated in the Senate.

“I don't think the Senate is going to want to derail that deal,'' Paulson said on the “Fox News Sunday'' television program. “And I don't think the American public is going to have much patience for anything that slows down this process of getting money into our economy.''

Paulson cautioned lawmakers against making many changes to the plan worked out between the Bush administration and House leaders, which was announced on Jan. 24. He repeated that while he expects the economy to continue to grow after slowing “significantly'' late last year, “risks are to the downside.''

If the Senate approves the package “very quickly,'' Paulson said, “I think we're going to be able to move quickly and get the money out into the economy by May.'' That would make “a very big difference'' in the economy, he said.

Since the agreement between the Republican president and leaders of both parties in the Democratic-controlled House, members of the Senate, also controlled by Democrats, have suggested changes such as increasing unemployment benefits and food stamps.

“Once you start considering additions — the food stamps, unemployment insurance and so on, it's a slippery slope, and there is a real danger that we're going to bog down and screech to a stop,'' Paulson said later on CNN's “Late Edition.''

Paulson said he doesn't think the U.S. economy is in a recession. “The markets will be pleased to see us all come together in Washington and work something out,'' he said, adding that the Senate “needs to take action.''

Housing Slump

The housing slump probably worsened at the end of last year, bringing the economy to the brink of recession and prompting businesses to curb hiring and spending, economists said before government reports this week payday loans lenders.

Economic growth slowed to a 1.2 percent annual rate from October to December, a quarter of the previous three months' pace, according to the median estimate of economists surveyed by Bloomberg News. Other reports may show the unemployment rate held at a two-year high this month and consumer spending cooled in December.

While the agreement is a “good fundamental foundation to work from,'' House Speaker Nancy Pelosi of California has known all along that the Senate would make changes, Senator Charles Schumer of New York, chairman of the Joint Economic Committee, said last week in an interview on Bloomberg Television's “Political Capital with Al Hunt.''

Tax Rebates

About $100 billion from the package would pay for tax rebates to 117 million families and $50 billion would be for business tax breaks. The plan also addresses the rising number of foreclosures by allowing government-chartered mortgage companies Fannie Mae and Freddie Mac to buy home loans of as much as $729,750, up from the current limit of $417,000.

Under the package, individuals must earn at least $3,000 to receive a $300 rebate, while higher-income individuals would get up to $600 and couples could receive $1,200 plus $300 per child. Rebates would be limited to individuals earning less than $75,000 and couples earning less than $150,000.

Two business incentives were included in the package. One would allow large companies to deduct more of the price of new equipment they purchase this year. Small businesses would be allowed to deduct twice the current limit of $112,000 for new equipment purchases.

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