WOODLAND HILLS, CA–(Marketwire – March 15, 2010) – Great American Group, Inc. (OTCBB: GAMR), a leading provider of asset disposition, valuation and appraisal services, announced they have been contracted to auction excess assets no longer required for the ongoing needs of Maui Pineapple Company.
The auction will take place on Tuesday, March 23rd, starting at 10:00 a.m. HT (Hawaii Time). Live simultaneous bidding will occur onsite and online. The sale will offer assets and equipment from three separate facilities and will include Processing & Cannery Equipment, Construction/Agriculture/Harvesting Machinery, Power Plant Generators, Trucks & Trailers, Facility Equipment, Machine Shop, Distribution and Warehouse Equipment, and much more! For detailed descriptions of all items available visit www.greatamerican.com or call 1-800-45GREAT.
Haliimaile Pineapple Company is selling it’s Maui Gold® Pineapple online. This is the best tasting Pineapple in the world and is grown on Maui Hawaii. PLEASE purchase this product!!!
Please Click Here to purchase Maui Gold Pineapple.
We are happy to offer Maui Gold®, our sweet, 100% Maui-grown, fresh pineapple for shipment to the US mainland. Order some today for a little taste of Maui at home!
Maui Land & Pineapple Co., which ceased its pineapple operations late last year, reported a narrower loss in 2009’s final quarter than the same period in 2008.
The company posted a loss of $30.4 million, or $3.76 a share, compared with $70.6 million, or $8.86 a share, a year earlier.
For the full year the company lost $123.3 million, or $15.33 a share, versus a loss of $79.4 million, or $9.98 a share, in 2008.
The annual figure includes a $22.8 million loss due to the sale of the agricultural segment’s assets, employee severance and cancellation of contracts.
In November the company discontinued its 97-year-old pineapple operations, resulting in a 45 percent reduction in work force. Since then, Haliimaile Pineapple Co. started pineapple operations and bought some of its operating equipment and supplies for about $680,000.
Kapalua resort bulk of company business in the fourth quarter
A much-shrunken Maui Land & Pineapple Co. finished 2009 losing $123.3 million, equivalent to $15.33 a share.
The year before, it had lost $79.4 million, or $9.98 a share.
With Maui Pineapple Co. gone and the Community Development segment almost at a standstill, in the fourth quarter the company business was mostly Kapalua resort.
The resort had revenue of $6.8 million, down from $8.5 million in the last quarter of 2008, reflecting the decline in the visitor industry. Its operating loss was $4,672,000, down from $6,621,000 the year before.
For the year, Kapalua had revenue of almost $30 million and losses of $16.1 million. Thus the resort accounted for about three-fifths of the company’s total operating revenues in 2009 of $50 million, and about 13 percent of losses.
Pineapple had continued at a low level through the end of the year, and it continued to pile up losses. The loss from discontinued operations of $24.7 million accounted for four-fifths of the $30.3 million in losses in the fourth quarter.
Since then, ML&P has sold much of its Maui Pine assets to Haliimaile Pineapple Co., run by former employees, who are attempting to revive pine cultivation, although with a market to be limited almost entirely to the islands.
Of all the losses during the year, pine made up $11 of the $15.33 per share.
When Maui Land & Pineapple Company stopped planting fruit last December, it looked like the end of an era—and an island way of life.
Story by Jill Engledow
CLICK HERE for a larger image of the DesecrationPineapple was plentiful when I passed through Kahului Airport in mid-December. A Hawaiian-style Santa beckoned from colorful boxes stacked outside shops, inviting passersby to pick up some Maui Gold for the trip home. So it was a bit of a shock when, returning to Maui just after Christmas, I hit the farmers’ market and found no pineapple on display. Only days earlier, Maui Land & Pineapple Company had ceased its harvest. Though in fact pineapple was still available in some stores, its absence from the farmers’ market was a sad reminder that a crop was disappearing. Suddenly the future of agriculture on Maui looked a lot less sweet.
This is the sweetest, best tasting, Pineapple in the world.
Grown on Maui by Hali'imaile Pineapple Co.
Please buy this product!!! PRIDE IN ISLAND!!!
It’s hard to imagine Maui without pineapple: the orderly silver-green rows of spiky tops stretched across acres, the dusty laborers in sunny fields, the luscious golden fruit. How many kids paid for college by working summers in the cannery? How many generations earned a decent living growing pine, and climbed from immigrant beginnings to middle class?
