BUSINESS BRIEFS
Aloha allowing 3rd checked bag
By Staff and News Services
Interisland passengers on Aloha Airlines won't be charged for carrying an extra checked bag this holiday season.
The local airline will waive its regular $25 fee for a third checked bag on interisland flights through Jan. 10. Most airlines allow customers to carry two checked bags for free but charge for each additional bag.
"We're saying thanks for flying on Aloha Airlines by giving you the gift of a third checked bag free on interisland flights for the holidays," said Thom Nulty, Aloha's senior vice president for marketing and sales. "When you fly interisland on Aloha, you can take more gifts for everyone on your list."
A&B TO BUILD CALIFORNIA CENTER
A&B Properties has joined with a California-based company to purchase a 57-acre vacant commercial-zoned parcel in Bakersfield, Calif., for the development of a regional retail center.
The joint venture represents A&B's sixth development project with Intertex, the first five of which are located in nearby Valencia, Calif. A&B Properties is the real estate subsidiary of Honolulu-based Alexander & Baldwin Inc.
The purchase closed on Wednesday at a price of $15 million. Plans call for a retail center of up to 600,000 square feet in Bakersfield, which is located roughly 100 miles north of Los Angeles.
Construction is expected to commence in early 2008 and take 12 months to complete. Total cost of the project is estimated at $90 million.
NATION
DOLLAR TAKES EURO BEATING
NEW YORK — The dollar weakened to a new 20-month low against the euro yesterday, as traders bet the gap between European and U.S. interest rates will keep narrowing.
European economic data has recently been surprisingly robust while U.S. data has been tame, leading market participants to believe the European Central Bank will continue hiking rates and the U.S. Federal Reserve may eventually start cutting back. If this happens, dollar-denominated investments will become less attractive.
The euro bought $1.3128 in late trading in New York, up from $1.3079 late Friday. Earlier yesterday, the euro reached $1.3172, its highest point since March 2005.
