BUSINESS BRIEFS
Bad times a boon for PCLender
Advertiser staff
The subprime mortgage crisis and resulting fallout in financial markets may be translating into more business for Honolulu-based www.PCLender.com, which offers Web-based software and services to mid-sized mortgage bankers and financial institutions.
The firm said it added contracts in August and September with six lenders in California, Oklahoma, Utah and Tennessee.
PCLender.com's products include 10 modules from prequalification and loan origination through closing, secondary marketing and post closing. Its mortgage-lending platform and services also include an 18-point compliance oversight.
HAWAIIAN AIR TO CONFER ON RESULTS
Hawaiian Holdings Inc., the parent company of Hawaiian Airlines, will discuss its financial results for the third quarter during a conference call at 10:30 a.m. Oct. 29.
The call will take place after the company releases its results at the close of the stock market. President and Chief Executive Officer Mark Dunkerley and Chief Financial Officer Peter Ingram will host the call for investors and analysts. Those interested in listening may access the call via the www.hawaiianairlines.com Web site.
MAUI, KAUA'I SELECTED TOP ISLANDS
Maui and Kaua'i were the top two Pacific islands in this year's reader's choice awards by Conde Nast Traveler magazine.
The magazine conduced an independent poll of consumers in the U.S., with 32,600 people voting.
The voters also ranked the top resorts in the state, voting the Four Seasons Maui at Wailea as the best in the state.
The Four Seasons Hualalai on the Big Island ranked No. 2, and coming in at the No. 3 spot was the Four Seasons Lana'i, Lodge at Koele.
CPB OFFICERS TO DISCUSS 3Q RESULTS
Central Pacific Bank said President and Chief Executive Officer Ronald Migita and Chief Financial Officer Dean Hirata will discuss third-quarter results during a conference call scheduled at 7 a.m. Oct. 31.
The bank plans to release its earnings report before the open of the stock market that day. The call will be accessible via a webcast on its investor relations site at http://investor.centralpacificbank.com.
Central Pacific announced last week it expects to report it had a net profit of $2.2 million to $3.2 million during third quarter 2008.
MOODY'S LOWERS RATING FOR BOYD
Moody's Investors Service last week lowered Boyd Gaming Corp.'s corporate family and probability of default ratings based on its expectation that the weak economy will continue to negatively impact gaming revenues.
Boyd, which operates Las Vegas casino hotels that are popular with Hawai'i residents, had its corporate family and probability of default ratings lowered to Ba3 from Ba2, along with cutting its senior subordinated note ratings to B2 from B1.
"Although several recent decisions by Boyd — including the delay of its Echelon development project in Las Vegas and suspension of annual cash common dividends — will positively impact the company's free cash flow, lower consumer spending and gaming revenue trends will make it difficult for the company to significantly reduce leverage to a level appropriate for its prior rating," said Keith Foley, Moody's senior vice president.
Boyd is scheduled to report is third-quarter earnings on Oct. 28.
