Two mainland investment firms have combined to purchase a 9.9 percent stake in Honolulu-based Alexander & Baldwin Co., according to a regulatory filing today. New York-based Pershing Square Capital Management LP, led by activist hedge fund manager Bill Ackman, bought an 8.6 percent stake and San Francisco-based Marcato Capital Management LLC, led by Richard...
Continue readingCategory: Sugar Cane
Alexander & Baldwin profits rise
Alexander & Baldwin Inc. earnings were about flat in the last three months of 2010, but bigger gains earlier in the year enabled the diversified Honolulu-based company to more than double its full-year profit. A&B reported 2010 net income of $92.1 million, up from $44.2 million the year before. Fourth-quarter net income was $20.2...
Continue readingHaina sawmill project is pau
A judge has ruled in favor of a lender in a foreclosure suit on a former Pacific Northwest logger who attempted to turn the former Haina sugar mill in Honokaa into a sawmill. Hilo Circuit Judge Glenn Hara entered judgment Dec. 8 against Haina Properties LLC and Robert J. Marr, known as “Barefoot Bob.”...
Continue readingSweet Smell of Success
The rain came down. The price went up, and Hawaiian Commercial & Sugar Co. finished the year with a much improved crop. The final raw sugar shipment was loaded at Kahului Harbor’s Pier One on Wednesday and Thursday. The harvest was just shy of 172,000 tons, much better than the 127,000 tons in 2009,...
Continue readingSweet Future Expected for Sugar ETN — Seeking Alpha
Sugar for March delivery closed at 28.45 cents per pound on Monday — a little off its above-30-cent peak struck last month, but still double its May 2010 low. And it looks like sugar may have higher to climb. Global supplies of sugar are projected to lag worldwide demand this year for the third...
Continue readingSpraying Pa’ia with 2,4-D – Is it safe?
Early on Saturday, October 23 a blue helicopter with large spray wings attached sprayed the edges of the canefields in Pa‘ia. There were strong and variable winds and the spray blew directly into many nearby residences. Pa‘ia houses emptied as families stepped outside to gawk in awe as the flying sprayer made pass after...
Continue readingHC&S explains the Pa‘ia spraying incident
By A&B spokesperson Meredith Ching This is my understanding of the situation you have inquired about. On October 23, HC&S conducted an aerial application of an herbicide, Clean Amine, on its Field 212, located along Hana Highway, just west of Paia town. We were attempting to eliminate a noxious weed, castor bean, from the...
Continue readingZip into the future
Mike Atherton’s employees call him “Coach” for good reason. Since he bought Maui Tropical Plantation in 2006, the affable entrepreneur has been overseeing a comprehensive game plan to re-energize the 26-year-old attraction. “We’ve painted the buildings, pruned the trees, spruced up the landscaping, basically given the grounds a complete makeover,” Atherton said. “I’m an...
Continue readingSafety costs criticized – Hawaii News – Staradvertiser.com
Many Hawaii farmers and ranchers say the cost of complying with proposed safety rules regulating dams and reservoirs will be more than they can afford and that they’ll be turning to the state Legislature for financial aid. “We’re talking about hundreds of millions of dollars,” said Alan Gottlieb, a past president of the Hawaii...
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