Its all about the hookups I tell ya. I don't think the local media is interested enough to dig deep on this topic, since it would be against media ethics. They could get sued for "bashing" and such.. And its not just Connies pay raise but I believe the president of ASB as well. I don't see why not.
Heh the only reason CPF is even around right now is because of ol' Danny boy. He put in a good word for them when they were initially turned down for financial assistance from the Feds. Once his office made a call to them magically they were approved. Unsurprisingly this wasn't reported anywere in the local media. Not a single local media reported on ol' Connie's pay raise last year either when they were slapping on a 6% rate increase. Wonderful impartial media we got here eh?
Yes the CD rates at ASB are really a piece of crap and management knows it. Basically, they don't want any CD customers. And of course customers wouldn't want to lock their money with them anyway. Its a smart move and to remedy adding new money in, they are really pushing the free checking and savings acct promotion. Their free checking account does not include overdraft protection so in order to have some sort of cover check, you need to have a savings account which has a minimum of 300. They don't explain why, they just say its new policy and obviously we know the reason.
Central Pacific Bank has been giving some sweet incentives for their CD's.. but they are a bit shaky because of the loans related to the housing bust. I've heard they are under scrutiny with the FDIC and their promotion is a way to seek fresh money into the bank.
Anyway, i believe ASB are playing their cards right in regards to their efforts.
Cash flows ARE important, but there are a LOT more things to look at than JUST cash flow. For example, 'end of year' 2008 debt was $1.2 billion dollars. 'End of year' 2009 debt now stands at $1.4 billion dollars. This stock is in a long term decline. I am convinced only a new management team with fiscally sound policy can/will turn it around.