Tag Archive for ‘mpl’

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Start over on Big Wind, group tells state

Published on April 28, 2011 in Alternative Energy, General Ag News and Notes and wind farm.


A community group that opposes the development of large-scale wind farms on Lanai and Molokai is asking state regulators to reopen the bidding process for the projects, saying the original agreement is no longer valid because one of the developers dropped out.

An attorney for Friends of Lanai said a decision by First Wind LLC not to pursue the Molokai portion of the proposed project triggered a series of events that were not authorized under the original approval granted by the Public Utilities Commission last fall.

First Wind withdrew from the project after missing a key March 18 deadline set by the PUC to show that it was making progress on its planned 200-megawatt Molokai wind project. Castle & Cooke Resorts, which is pursuing a 200-megawatt wind project on Lanai, met the deadline. The two projects, dubbed “Big Wind,” would transmit electricity to Oahu via an undersea cable under a plan that is still in the preliminary stages.

Friends of Lanai attorney Isaac Hall noted that the PUC had to grant a waiver for the Big Wind project to proceed because its proposed size exceeded Hawaiian Electric Co.’s original request for proposals of up to 100 megawatts of renewable energy.

“Since only one party timely complied (with the PUC deadline), Friends of Lanai believes that the waiver is no longer valid Continue reading ‘Start over on Big Wind, group tells state’

California firm joins Molokai wind project

Published on April 4, 2011 in Alternative Energy, General Ag News and Notes and wind farm.


Pattern Energy Group is expected to “engage all of the community”

Molokai Properties Ltd. said it is teaming up with a new company to develop a proposed wind energy proj­ect on the island after it was unable to come to terms with its previous partner, First Wind LLC.

MPL joined forces with San Francisco-based Pattern Energy Group on the proj­ect that, as envisioned, would transmit wind-generated electricity to Oahu via an undersea cable. The proj­ect, with 90 wind turbines and a generating capacity of 200 megawatts, represents half of the so-called Big Wind proj­ect that would include the transmission of an equal amount of wind energy from Lanai to Oahu.

Executives from Pattern and Molokai Properties held three community meetings in early March to brief the community on the proposal, said Peter Nicholas, MPL’s chief executive officer. Nicholas said he hoped Pattern’s plan would be better received by the community than what had been proposed by First Wind.

MPL broke off talks with First Wind in November following two rounds of negotiations in which the two sides were unable to reach agreement on a land price and the approach to community involvement. MPL, which also does business as Molokai Ranch, owns 60,000 acres on Molokai, or about 40 percent of the island. Continue reading ‘California firm joins Molokai wind project’

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

ML&P nears deal to pay off $40 million debt

Published on July 29, 2010 in General Ag News and Notes.

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Maui Land & Pineapple Co. has completed definitive agreements with all holders of $40 million of its debt to repurchase the notes.

In a filing with the Securities and Exchange Commission Tuesday, the company said it had reached agreement with the last remaining noteholders on July 22. It had earlier stated that four-fifths of the creditors had agreed to the deal.

As a result, debt-laden ML&P hopes to retire a large chunk of its obligations that otherwise would have required it to go to financial markets to refinance the $40 million as early as next year. Considering the company’s money-losing status, refinancing would have been difficult and expensive.

Inability to replace the debt with new debt or retire it could have triggered incidents of default with other corporate loans.

In May, the board of directors authorized an additional 20 million shares to be offered to the creditors. Continue reading ‘ML&P nears deal to pay off $40 million debt’

New company to take over pineapple operations – The Maui News

Published on December 31, 2009 in General Ag News and Notes, Haliimaile Pineapple and Pineapple.

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New company to take over pineapple operations

Pineapple is BACK!
CLICK for larger image

POSTED: December 31, 2009

The newly formed Haliimaile Pineapple Co. Ltd. announced today it would immediately take over 1,000 acres and related facilities from Maui Pineapple Co., under an agreement signed Thursday with Maui Land & Pineapple Co.

The new company’s first day of work will be Saturday, when employees will start picking Maui Gold fruit, said Doug Schenk, one of the six local partners in the venture.

Maui Pine’s last harvest was Dec. 23. The company had announced it was leaving the business earlier this year after recording continuous, large losses.

The owners and directors of the new venture are Pardee Erdman, owner of Ulupalakua Ranch; Schenk, Doug MacCluer and Ed Chenchin, all retired Maui Pine managers; and two men who were operating directors of Maui Pine until it closed, Strand and Rudy Balala.

Haliimaile Pine has licensed and purchased assets notably the Maui Gold patented variety and leased land, equipment and buildings from Maui Pine.

Haliimaile Pine will do its own marketing, targeting local retailers, hotels and restaurants.

Continue reading ‘New company to take over pineapple operations – The Maui News’

FINAL HARVEST: Sun sets on ML&P cultivation of pineapple – The Maui News

Published on December 24, 2009 in General Ag News and Notes and Pineapple.

Deal in works for new, smaller company to farm golden fruit

By ILIMA LOOMIS, Staff Writer

POSTED: December 24, 2009

WAILUKU

Fieldworkers picked their last pineapples Wednesday as Maui Pineapple Co. ceased operations after 100 years of farming.

About 285 Maui Pine workers are being laid off in the shutdown, with their last official day of employment Dec. 31. Another 133 employees were expected to be offered positions at Maui Land & Pineapple partner companies.

Some remained hopeful a startup company would take over Maui Pine land, equipment and operations to continue pineapple farming on Maui and hire back some of the laid-off workers.

Continue reading ‘FINAL HARVEST: Sun sets on ML&P cultivation of pineapple – The Maui News’

This Week in Congress: The Season for Action – Blog – OpenCongress

Published on September 14, 2009 in General Ag News and Notes.

Much of the Senate’s time this week will be taken up by amendment from Sen. John McCain [R, AZ] and his Republican colleagues to strike earmarks from the bill. Subscription-only CongressDaily has the scoop:

McCain is looking to block $195,000 for renovation of the Emmett Till Memorial Complex in Tallahatchie County, Miss., as well as $500,000 to construct a beach park promenade in Pascagoula, Miss., both requested by Appropriations ranking member Thad Cochran and Sen. Roger Wicker, R-Miss.
McCain also wants to strip $500,000 from the bill requested by Reid to provide a credit counseling service in Las Vegas.
The Arizonan has targeted transit projects, including $85 million requested by Sens. Jim Webb, D-Va., and Mark Warner, D-Va., to help fund an extension of Washington’s subway system to Washington Dulles International Airport.
McCain also wants to strike $30 million for the Honolulu High Capacity Transit Corridor Project, sought by Appropriations Chairman Daniel Inouye and Sen. Daniel Akaka, D-Hawaii, as well as $75 million for the Houston North Corridor Light Rail Transit requested by Sen. Kay Bailey Hutchison, R-Texas.

This Week in Congress: The Season for Action – Blog – OpenCongress

Monsanto Plowed Down (MON)

Published on September 11, 2009 in General Ag News and Notes.

It’s becoming increasingly harder to figure out whether Monsanto (NYSE: MON) is a bargain or a value trap. Yesterday, the agriculture giant announced less-than-stellar guidance for its 2010 fiscal year, which started at the beginning of the month.

It’s really a tale of two product lines for Monsanto. The seed and trait business is growing and competing well against — and sometimes with — DuPont (NYSE: DD), Dow Chemical (NYSE: DOW), and Syngenta (NYSE: SYT).

Its Roundup product, on the other hand, is headed in the wrong direction. Once a cash cow, Roundup now faces generic competition, and a glut of chemical herbicides in the supply chain is pushing down prices. Unlike drug companies such as Pfizer (NYSE: PFE) and Merck (NYSE: MRK), which can pretty much kiss off most of their sales once generic competition starts, Monsanto does expect to bring in $650 million to $750 million in gross profits from Roundup in the coming year. Still that’s a long drop from the nearly $2 billion in gross profits that the herbicide brought in during fiscal 2008.

In a couple of years, it’s not going to matter much: By 2012, the company expects that seeds and licensed traits will make up 85% of the company’s total gross profit. But in the meantime, the drop is hurting the bottom line.

Earnings per share, after adding back restructuring charges, are expected to come in between $3.10 to $3.30, a sharp decline from the $4.40 or so that’s expected from the recently completed year. Trading at a forward price-to-earnings ratio of more than 24, Monsanto is a little cheaper than we’ve seen in the past, but it doesn’t leave investors much breathing room, if Roundup sales continue to fall faster than expected.

Monsanto Plowed Down (MON)

AGRICULTURE SECRETARY VILSACK ANNOUNCES ECONOMIC RECOVERY PROJECTS FOR FOREST HEALTH PROTECTION – BARN

Published on September 9, 2009 in General Ag News and Notes.

Here is Hawaii’s piece of the pie:

Wildland Fire Management – Forest Health (Multi-state)

  • Alaska; California; Oregon; Washington; Hawaii – 1 project – $1,795,000
  • California; Hawaii – 1 project – $2,190,000

Posted by Brian Allmer on September 9, 2009

78 projects in 20 States and the District of Columbia will receive a total of $89 million to address problems caused by fire, insects, invasive species and disease

WASHINGTON, September 9, 2009 – Agriculture Secretary Tom Vilsack today announced projects funded by the American Recovery and Reinvestment Act (ARRA) for forest health protection projects. These 78 projects will receive almost $89 million and are located on forested lands in 30 states. This funding will be used to restore forest health conditions on Federal, State, and private forest and rangelands recovering from fires, forest insects and disease outbreaks. These conditions weaken affected lands and threaten the benefits these lands provide, including clean water, clean air, habitat for wildlife, resistance to wildfire, and recreational opportunities for the public.

Continue reading ‘AGRICULTURE SECRETARY VILSACK ANNOUNCES ECONOMIC RECOVERY PROJECTS FOR FOREST HEALTH PROTECTION – BARN’

Industry fights for inspectors – Starbulletin.com

Published on September 8, 2009 in General Ag News and Notes.

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Agricultural groups fear state layoffs will backlog shipments

By Erika Engle

POSTED: 01:30 a.m. HST, Sep 08, 2009

Agricultural industry executives worry that Hawaii businesses will wither on the vine and incoming food will rot on the docks if the state goes through with massive layoffs of agriculture inspectors.

Plans call for laying off 50 of the state’s 78 agriculture inspectors, 64 percent of that specialized work force.

Diminished inspection capacity could also cost hundreds of millions of dollars each year if additional invasive species get established, industry officials say.

State inspectors both certify products to be exported out of Hawaii and inspect food and plants being imported into the state.

Continue reading ‘Industry fights for inspectors – Starbulletin.com’

Council ponders use of ‘polluted’ wells for backup – The Maui News

Published on September 2, 2009 in General Ag News and Notes.

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WAILUKU – Three years after it banned using water from the Hamakuapoko Wells for human consumption, the Maui County Council is considering tapping the wells for emergencies.

The wells are contaminated with pesticides, but county water and state health officials have said treatment removes the chemicals to undetectable levels and makes the water safe to drink. Water Director Jeff Eng said Tuesday that if the council allowed the wells to be used as a backup during times of drought or other emergencies, it would allow the county to issue several hundred water meters from the Pookela Wells to residents who have been waiting for water Upcountry.

Continue reading ‘Council ponders use of ‘polluted’ wells for backup – The Maui News’

The People’s Dialectic – Development and Local Awareness

Published on August 31, 2009 in General Ag News and Notes.

August 30th, 2009 by peoplesdialectic

I’ve always been impressed with the quality of events Kanu Hawaii puts on to help the community and raise awareness about important issues.

The Eat Local Challenge is no exception. In fact, it strikes at the heart of possibly one of the most immediate and important questions for our islands. Eating local is beneficial on both an economic and environmental level. And the light the Challenge shines on food channels couldn’t have come at a more crucial time.

The Honolulu Star-Bulletin featured on Wednesday, August 12, an article discussing plans to develop 1,500 acres of some of ‘the best ag land’ on Oahu for a 12,000 home community. The loss of this prime agricultural land to tract housing, shopping centers, and business parks will be a significant loss of our ability to grow food for ourselves.

There was a day when the economy of our islands didn’t depend on visitors from around the world. While no one suggests we return to the plantation culture, we do need to diversify our economy away from tourism. With a revenue stream that is so fundamentally tied to the vacation plans of people around the world, Hawaii is particularly vulnerable to economic hard times and recessions. We can no longer afford to depend so heavily on the disposable income of others. Hawaii must once again become self-sufficient.

Continue reading ‘The People’s Dialectic – Development and Local Awareness’

Oahu gobbles resources as other isles make do – Columnists – Starbulletin.com

Published on August 30, 2009 in General Ag News and Notes.

By Cynthia Oi

POSTED: 01:30 a.m. HST, Aug 30, 2009

Maggie Cox makes a good point. If public libraries on rural islands are to be closed to save the state some money, it’s only fair that libraries on Oahu share the pain.

Cox represents Kauai on the Board of Education and though none of the libraries at the top of the list for shuttering are on the Garden Island, Cox speaks in defense of the stepchildren of the state.

They are the Cinderella regions of Hawaii, exploited for the natural beauty they have largely retained while most of Oahu has been so disfigured it is no longer eligible for the tourism image of unspoiled paradise.

They are expected to do the heavy lifting for undesirable projects like prisons and military training grounds, but stand at the back of the line for the good stuff like technologically top-grade schools and medical facilities.

Continue reading ‘Oahu gobbles resources as other isles make do – Columnists – Starbulletin.com’

TheGardenIsland.com – Managing uncertainty

Published on August 26, 2009 in General Ag News and Notes.

IAL meeting creates more questions than answers

By Lois Ann Ell – Special to The Garden Island

Published: Wednesday, August 26, 2009 2:11 AM HST

KAPA‘A — What began as an informational meeting about the designation of important agricultural lands turned into a heated discussion about Kaua‘i’s agricultural future.

Dr. Karl Kim, a professor at the UH Department of Urban and Regional Planning, presented a slide show of the Koloa-Po‘ipu pilot agricultural lands study he and his colleagues conducted for the Land Use Commission. He was the guest speaker at the monthly Wailua-Kapa’a Neighborhood Association meeting Monday night at the Kapa’a Library.

Continue reading ‘TheGardenIsland.com – Managing uncertainty’

Stevia – Wikipedia, the free encyclopedia

Published on August 24, 2009 in General Ag News and Notes.

The genus Stevia consists of 240 species of plants native to South America, Central America, and Mexico, with several species found as far north as Arizona, New Mexico, and Texas.Human use of the sweet species S. rebaudiana originated in South America. The leaves of the stevia plant have 30–45 times the sweetness of sucrose (ordinary table sugar). The leaves can be eaten fresh, or put in teas and foods.

Continue reading ‘Stevia – Wikipedia, the free encyclopedia’

Court Rules Against Molokai Properties, Ltd. In Utilities Dispute | The Molokai Dispatch

Published on August 21, 2009 in General Ag News and Notes and Water.

molokai-dispatch

Friday 8-14-09

MPL is held legally responsible for the actions of its utilities.

County of Maui Press Release FOR IMMEDIATE RELEASE August 13, 2009

The First Circuit Court ruled on July 15, 2009 that Molokai Properties, Ltd. (MPL) is legally responsible for the actions of the Molokai utility companies whose stock MPL owns. The appeal arose out of MPL’s threat last year to shut down water and wastewater utilities providing service to some 1,200 Molokai residents.

Continue reading ‘Court Rules Against Molokai Properties, Ltd. In Utilities Dispute | The Molokai Dispatch’

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