Tag Archive for 'maui land & pine'

Carmaker Stocks In Cruise Control

Published on February 11, 2011 in General Ag News and Notes.

U.S. Equities
In Friday trade, vehicle manufacturers among leaders.

In trading on Friday, vehicle manufacturers shares were relative leaders, up on the day by about 1.6%. Leading the group were shares of Tata Motors, up about 9.5% and shares of Ford Motor up about 2.8% on the day.

Also showing relative strength are real estate shares, up on the day by about 1.6% as a group, led by China Housing & Land Development , trading higher by about 9.4% and Maui Land & Pineapple , trading higher by about 9% on Friday.

Carmaker Stocks In Cruise Control – Forbes.com

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4 Real Estate Stocks Outpacing Rivals

Published on February 10, 2011 in General Ag News and Notes.


An exotic sounding play lumped in with the usually, urban-centric commercial real estate managers, is Maui Land & Pineapple(MLP), the holding company of subsidiaries that engage in agriculture, community development and resort operations in Hawaii. Its shares are up 10% so far this year.

The company, founded in 1909, operates through two segments: an agricultural unit, Maui Pineapple Co. with extensive land holdings; and the developer of the exclusive destination resort property, the Kapalua Resort in Maui, Hawaii.

According to TheStreet’s ratings summary, the one analyst who follows it has a “strong sell.”

After disclosing severe financial constraints at the end of 2009, the company has been in turnaround mode. In the first nine months of 2010, it reported net income of $1.23 per share, compared with a net loss of $92.9 million, or a loss of $11.57 per share, for the first nine months of 2009.

4 Real Estate Stocks Outpacing Rivals – TheStreet

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ML&P issues layoff notices

Published on February 1, 2011 in General Ag News and Notes and Golf.


Unknown number of workers at Kapalua golf courses to lose jobs under a new manager

KAPALUA – A number of Maui Land & Pineapple employees will lose their jobs when an independent firm takes over management of the Kapalua Plantation Golf Course and Bay Golf Course at the end of March, the company announced Monday.

In a filing with the Securities and Exchange Commission, ML&P said the total number of employees affected by the turnover is still uncertain, but that it had sent a 60-day layoff notice to workers, in compliance with U.S. labor laws.

There are about 100 ML&P employees working at the two courses, approximately half of the company’s total work force of 200, said Chief Financial Officer Tim Esaki.

Troon Golf, of Scottsdale, Ariz., will take over management of the courses on April 1, the company said.

Esaki said golf course employees were sure to be involved in the change, but “it may affect other employees as well.”

“Troon Golf, assuming the management of the golf course, will have an impact on other areas of our operations, but we’re currently in the process of evaluating what that is,” he said.

ML&P sold its Bay Course last year to TY Management Corp. for $23.6 million, with an agreement to lease back and continue to operate the links until March 31.

TY also purchased the Plantation Course from money-losing ML&P for $50 million cash in 2009, also with a lease-back contract.

ML&P issues layoff notices – Mauinews.com | News, Sports, Jobs, Visitor’s Information – The Maui News

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Planet News World – Top 5 weekly winners of NYSE (MLP, PULS, FBP, AMBO, CBC)

Published on January 2, 2011 in General Ag News and Notes and Golf.

(NYSE:MLP) Maui Land & Pineapple Company, Inc. belonging to Real Estate Development industry is currently trading at a price of $4.98, a dramatic change of 9.69% from its previous day’s close. MLP is currently trading at a volume of 55377 shares compared to its daily average volume of 16.79K shares. The stock is trading with a gain of 10.67% from its open . Maui Land & Pineapple Company, Inc. has done quite well being up more than 19.14% since the beginning of the week and has a market capital of approximately 93.42M. Maui Land & Pineapple Company, Inc. engages in the resort and community development businesses. The company’s Community Development segment provides real estate entitlement, development, construction, sales, leasing, real estate brokerage, and water and sewage transmission services. It leases commercial and residential properties; and provides license and lease arrangements for the use of buildings, facilities, land, and trade names. Maui Land & Pineapple Company’s Resort segment operates 2 championship golf courses, a tennis facility, a spa, retail outlets, a hotel, residences and clubs, a bay, 8 residential neighborhoods, a commercial space, and restaurants, as well as approximately 700 single-family residential lots, condominiums, and homes. The company was founded in 1909 and is based in Maui, Hawaii

Planet News World – Top 5 weekly winners of NYSE (MLP, PULS, FBP, AMBO, CBC)

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Top 10 Leisure Services Stocks of the Week: MLP, PRXI, LONG, STNR, FUN, RDI, TZOO, BWL.A, ISCA, LTM – China Analyst

Published on January 1, 2011 in General Ag News and Notes.

Below are the top 10 best-performing Leisure Services stocks for the past week. One Chinese company (LONG) is on the list.

Maui Land & Pineapple Co. (NYSE:MLP) is the 1st best-performing stock last week in this segment of the market. It was up 19.14% for the past week. Its price percentage change is -10.27% year-to-date.

Top
10 Leisure Services Stocks of the Week: MLP, PRXI, LONG, STNR, FUN,
RDI, TZOO, BWL.A, ISCA, LTM (Jan 01, 2011) – China Analyst

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SHARES OF MAUI LAND & PINEAPPLE RANK THE LOWEST IN TERMS OF RPE IN THE REAL ESTATE DEVELOPMENT INDUSTRY (MLP, AVTR, STRS, HOFD, FOR)

Published on December 12, 2010 in General Ag News and Notes.

SmarTrend(R) News Watch via COMTEX) — Below are the bottom five companies in the Real Estate Development industry ranked by Revenue Per Employee (RPE). Analysts use RPE as a measure to compare the productivity of companies in the same industry.

Maui Land & Pineapple (NYSE:MLP) ranks first with an RPE of $152K; Avatar Holdings (NASDAQ:AVTR) ranks second with an RPE of $245K; and Stratus Properties (NASDAQ:STRS) ranks third with an RPE of $336K.

Homefed (NASDAQ:HOFD) follows with an RPE of $990K and Forestar Group (NYSE:FOR) rounds out the top five with an RPE of $1182K.

SmarTrend currently has shares of Forestar Group in an Uptrend and issued the Uptrend alert on September 02, 2010 at $15.71. The stock has risen 16.4% since the Uptrend alert was issued.

Write to Chip Brian at cbrian@tradethetrend.com

SmarTrend is a registered trademark of Comtex News Network, Inc.

Investment Research – Zacks.com

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MAUI LAND & PINEAPPLE CO INC – 10-Q – 20101102 – FORM

Published on November 1, 2010 in General Ag News and Notes, Haliimaile Pineapple, Maui Gold Pineapple and Pineapple.


Management’s Discussion and Analysis of Financial Condition and Results of Operations

Overview of the Company

MAUI LAND &amp Pineapple Company, Inc. is a Hawaii corporation and the successor to a business organized in 1909. We are a landholding company. Our principal subsidiary is Kapalua Land Company, Ltd., the operator and developer of Kapalua Resort, a master-planned community in West Maui. Our reportable operating segments are Resort and Community Development. In December 2009, all of our Agriculture segment operations were ceased and the segment is reported as discontinued operations. Continue reading ‘MAUI LAND & PINEAPPLE CO INC – 10-Q – 20101102 – FORM’

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Maui Nei – Hali’imaile Pineapple Co.

Published on October 14, 2010 in General Ag News and Notes, Haliimaile Pineapple, Maui Gold Pineapple and Pineapple.


BY RON YOUNGBLOOD

Doug Schenk met the visitors with the kind of smile that radiates from a father showing off his newborn. In the background, Hali’imaile Pineapple Co. employees ate lunch after polishing off the morning’s work two hours ahead of schedule.

At the door of the old parts warehouse, two men who look younger than their years stood in dirty boots and T-shirts.

“These are the guys who run the operation,” Schenk said with affection. The company president is Darren Strand. Rudy Balala is the vice president. They are also partners in the farm, along with Schenk and Doug MacCluer. All are Maui Land & Pineapple Co. veterans. The other partners are Pardee Erdman and Ed Chenchin.

The aroma of plate lunches wafted out of the tin-sided warehouse. In the back of the picnic tables there’s a conference table.

“We meet every Monday to decide that week’s goals,” Strand said.

“All of our employees asked to come to work for Hali’imaile,” Schenk said. All were part of the work force when Maui Pine closed down Dec. 31, 2009. “We were still working out the details (of leasing ML&P equipment and fields) on the last day of the year. We took New Year’s Day off and were on the job the next day.”

“We’ve got the greatest people in the world,” Schenk said. “There’s no division of labor. Everyone does everything.” Continue reading ‘Maui Nei – Hali’imaile Pineapple Co.’

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Debt due for Ritz Kapalua

Published on September 11, 2010 in General Ag News and Notes.


Estate now seeks resort foreclosure
By HARRY EAGAR, Staff Writer

In April 2009, the owners of The Ritz-Carlton, Kapalua defaulted on the loans they had taken out to rebuild the hotel in 2007.

The amount owed, principal and interest, approached $300 million, but the lender, Lehman Brothers Holdings Inc., in bankrupty itself, did not press the issue for another 16 months. This week, the Lehman estate in bankruptcy filed for foreclosure against Gencom Group and Whitehall Street Global Real Estate, claiming it is owed $255 million.

The move was reported by The Wall Street Journal.

How the principal was reduced over the past year is unknown. Many resorts in Hawaii are in default, but most do it in privacy. The Ritz-Carlton’s trouble became known because Maui Land & Pineapple Co. was a 16 percent partner, and as a regulated public company, had to disclose the default in its reports, which it did in May 2009. Continue reading ‘Debt due for Ritz Kapalua’

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Home Health Care Takes A Hit

Published on September 2, 2010 in General Ag News and Notes.


Also lagging the market Thursday are real estate development shares, down on the day by about 1% as a group, led down by Maui Land & Pineapple , trading lower by about 6.9% and Ifm Investments Limited , trading lower by about 4.3%.

Home Health Care Takes A Hit – Forbes.com

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ML&P goes ahead with plan to raise $40M

Published on June 25, 2010 in General Ag News and Notes.

maui-news-ad

Maui Land & Pineapple Co. has filed registration documents to proceed with a previously announced plan to convert some of its debt into equity.

On Thursday, the company said it intends to pursue a rights offering for up to $40 million of its common stock. That means it will offer existing stockholders the right to purchase additional shares in the company, raising money that will be used to pay back lenders.

ML&P said shareholders have already subscribed to $27.5 million of the offering.

If the rights offering is sold out, ML&P will repurchase all of its outstanding senior secured convertible notes – a kind of debt that allows lenders to take what they’re owed in the form of stock, if they’re not paid off in cash.

Continue reading ‘ML&P goes ahead with plan to raise $40M’

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Maui Land & Pineapple, Red Robin Gourmet Burgers: Biggest Price Decliners (MLP, RRGB) – WSJ.com

Published on May 21, 2010 in General Ag News and Notes.


Maui Land & Pineapple Co. Inc. topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at midday.

Maui Land & Pineapple, Red Robin Gourmet Burgers: Biggest Price Decliners (MLP, RRGB) – WSJ.com

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Pine processing begins in Haliimaile – Mauinews.com | News, Sports, Jobs, Visitor’s Information – The Maui News

Published on May 18, 2010 in General Ag News and Notes, Maui Gold Pineapple and Pineapple.

maui-news-ad

Haliimaile Pineapple Co. photo


Haliimaile Pineapple Co. employees work to process fresh pineapples Thursday at the company’s renovated Haliimaile plant. The company closed a former Maui Pineapple Co. processing plant in Kahului and moved to Haliimaile to centralize plantings and packing there, said Vice President Rudy Balala. He said the weather has been “nice but kind of dry,” but replanting is on schedule. Haliimaile Pineapple took over about 1,000 acres when Maui Pineapple shut down at the end of the year. The new company handles about 75 tons of fruit per day, but most of it stays in Hawaii, with about 20 percent sold to customers on the Mainland, Balala said.

Pine processing begins in Haliimaile – Mauinews.com | News, Sports, Jobs, Visitor’s Information – The Maui News

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ML&P’s ‘survive to thrive’ plan passes – The Maui News

Published on May 14, 2010 in General Ag News and Notes.

maui-news-ad

Votes authorize smaller board, more sales of common stock
By HARRY EAGAR, Staff Writer

After hearing about management’s plans to "survive to thrive" following a disastrous 2009, Maui Land & Pineapple Co.’s shareholders voted Thursday to accept two proposals designed to carry the company through its debt crisis.

The main vote, carried by 83 percent of the company’s shares and by 99 percent of the shares represented in person at Kapalua by owners or proxy holders, was to authorize 20 million shares of common stock.

This will be a rights offering, rather than an approach to the public market. Each shareholder would have a chance to buy new shares in the proportion that he or she owns of old shares.

Since there are 23 million shares outstanding, the offering is for almost, but not quite, one new share per old share.

And since Steve Case owns more shares than anybody, the offering’s success will depend upon his willingness to put new money into the company.

President Ryan Churchill said after the meeting that he couldn’t comment about whether Case had indicated he would be willing to put more tens of millions into the company.

Continue reading ‘ML&P’s ‘survive to thrive’ plan passes – The Maui News’

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ML&P plan to raise money, pay down debt – The Maui News

Published on April 17, 2010 in General Ag News and Notes.

maui-news-ad

Company seeking approval to nearly double common stocks

By GREG WILES, The Honolulu Advertiser

Maui Land & Pineapple Co. is seeking shareholder approval to almost double the amount of its authorized common stock as it contemplates financing alternatives to pay down debt and raise money.

The company is proposing increasing the authorized shares to 43 million from the current 23 million, according to proxy material filed with the U.S. Securities and Exchange Commission.

The proposed increase comes after the company reported losses totaling $202.7 million during the past two years and the exit from the pineapple business on which it was built.

Maui Land had previously noted that it might have to sell shares as it looked to generate additional cash, use stock in compensation plans and make acquisitions.

"Our cash outlook for the next 12 months and ability to continue to meet our financial covenants under our credit facilities is highly dependent on generating additional capital, including the sale of equity," said the filing.

The filing said the company has no definite plans for the shares should they be authorized, but that it may need to sell shares in excess of its current authorized number.

This would be needed to facilitate meeting obligations as well as its ability to redeem $40 million of convertible notes that become redeemable in July 2011.

Maui Land’s annual shareholders meeting is scheduled for 8:30 a.m. May 13 at the Kapalua Village Center in West Maui.

Continue reading ‘ML&P plan to raise money, pay down debt – The Maui News’

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Maui Land & Pineapple, China Grentech: Biggest Price Decliners (MLP, GRRF) – WSJ.com

Published on April 1, 2010 in General Ag News and Notes.

By MARKET DATA STAFF

Maui Land & Pineapple Co. Inc. topped the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at the close. See the full list .

China Grentech Corp. Ltd. topped the list of Biggest Percentage Price Decliners among common stocks on the Nasdaq Stock Market. See the full list .

Maui Land & Pineapple, China Grentech: Biggest Price Decliners (MLP, GRRF) – WSJ.com

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