Tag: maui land & pine

December 12, 2010 General Ag News and Notes Post a Comment

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

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

November 1, 2010 General Ag News and Notes, Maui Gold Pineapple Post a Comment

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

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.

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October 14, 2010 General Ag News and Notes, Maui Gold Pineapple Post a Comment

Maui Nei – Hali’imaile Pineapple Co.

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.”

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September 11, 2010 General Ag News and Notes Post a Comment

Debt due for Ritz Kapalua

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.

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June 25, 2010 General Ag News and Notes Post a Comment

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

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.

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