Howard's Business Report 5/18/15

Howard's Business Report 5/18/15

Hawaii gas prices have risen 20 cents a gallon since bottoming out four months ago. But they're down a dollar from the last peak a year ago. L.A. regular is back over four dollars a gallon. Gas costs more than Honolulu's prices in San Francisco and San Diego.

The 538-room Fairmont Orchid has a new owner. Korean financial services giant Mirae Assets has paid 200 million for the Big Island hotel. The seller, Oaktree Capital, is a former owner of Turtle Bay Resort.

Kaiser Hawaii reports at 8 million loss for the first quarter, a third worse than the loss a year ago. HMSA lost 57 million, both say a big cost factor was Obamacare fees. All the fees for the whole year have to be booked in the first quarter.

Former Senate President Bobby Bunda has decided to step down early from his seat on the rail authority board. Bunda says he wants to spend more time with his family. He'll leave June 30th.

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