BUSINESS BRIEFS
Price of regular gas drops 2 cents
Advertiser Staff and News Services
The price of a gallon of regular unleaded gas dropped an average of 2 cents across the state this week, according to AAA Hawaii Weekend Gas Watch. The average statewide was $3.21 for a gallon for regular unleaded gas.
In Honolulu, the average price was $3.10 per gallon, down a penny from last week; $3.19 per gallon in Hilo, also a drop of one cent; and $3.57 a gallon in Wailuku, a one-cent increase, AAA Hawaii Weekend Gas Watch said.
"For the most part, prices fell again for the third consecutive week," said AAA Hawaii Regional Manager Richard Velazquez. "Hawai'i now has the highest state average price in the nation again, but we're well below the record prices set last September."
MARINE BIOTECH FIRM CUTS LOSSES
Mera Pharmaceuticals Inc., a Big Island-based marine biotechnology company, reported net losses narrowed in the three months ended July 31 as revenues increased from a technical services contract.
The company said its net loss was $88,396. That compared with a year-earlier net loss of $125,803.
Revenue at the company rose to $131,608 from $72,792.
POWER-GENERATING BUOY TEST SET
Ocean Power Technologies, a Pennington, N.J., company developing wave power systems, said it expects to deploy the next test of its PowerBuoy System off Marine Corps Base Hawai'i by the end of the year.
The company has done three tests of its buoys, which are designed to generate electricity using wave energy. The company in a regulatory filing said the latest of its sea trials at the Kane'ohe Bay base was in June, when a four-week sea trial came to an end. Ocean Power is trying to demonstrate the feasibility of using its systems to help power U.S. Navy bases.
BIG ISLE COLA TO BE RAISED TO 18%
The federal government is proposing a raise in the cost-of-living pay adjustment for the Big Island to 18 percent from 17 percent.
The increase would apply to U.S. Postal Service and white-collar federal workers in Hawai'i County. A notice in the Federal Register said the proposal was part of a survey done every three years on COLA payments. It did not find a cost-of-living increase was needed for workers on other islands in the state.
LIFESMARTS COMPETITION TO BEGIN
The state Department of Commerce and Consumer Affairs has kicked off its 2007-08 LifeSmarts Competition, which is open to teens in grades 9 through 12.
The competition tests students' knowledge of personal finance, health and safety, the environment, technology and consumer rights.
Teams can sign up online and compete between Monday and Jan. 20. Top groups will be invited to a state competition in Honolulu on March 1, the winner of which will go on to represent the state at a national competition in Minneapolis in April.
Registration may be done online at www.lifesmarts.org. Anyone interested in forming a team or becoming a sponsor should contact LifeSmarts State Coordinator Jackie Choy at 586-2760 for more information or for a free coach's guide.
LifeSmarts is sponsored by DCCA and is run by the National Consumers League. Local partners include the Better Business Bureau of Hawaii and the Hawaii Credit Union League.
