Tag: Maui Land & Pineapple Co

April 5, 2010 General Ag News and Notes Post a Comment

Maui Land & Pineapple Company Inc. News – The New York Times

Latest Insider Trades

04/05/2010

CHURCHILL RYAN L
Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3

Shares sold: 966

Share price: $6.24

Trans. value: $6,027.84

04/05/2010

SUMIDA ADELE H
Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3

Shares sold: 644

Share price: $6.24

Trans. value: $4,018.56

04/05/2010

DURKIN JOHN P
Payment of exercise price or tax liability by delivering/withholding secs incident to the receipt/exercise/vesting pursuant to Rule 16b-3

Shares sold: 966

Share price: $6.24

Trans. value: $6,027.84

Maui Land & Pineapple Company Inc. News – The New York Times

April 2, 2010 General Ag News and Notes Post a Comment

Summary of MAUI LAND & PINEAPPLE CO INC – Yahoo! Finance

Form 8-K for MAUI LAND & PINEAPPLE CO INC

2-Apr-2010

Other Events

Item 8.01. Other Events

Maui Land & Pineapple Company, Inc. announced today that the New York Stock Exchange has accepted the Company’s plan for continued listing on the NYSE. As a result, the Company’s common stock will continue to be listed on the NYSE, subject to quarterly reviews by the NYSE to monitor the Company’s progress against the plan.

The NYSE notified the Company on January 11, 2010, that the Company had fallen below the NYSE’s continued listing standard requiring that it maintain an average market capitalization of at least $50 million over a consecutive 30 trading-day period. With the acceptance of the plan, the Company has 18 months from the original notification date in which to comply with the average market capitalization standard, subject to its compliance with the NYSE’s other continued listing requirements.

Summary of MAUI LAND & PINEAPPLE CO INC – Yahoo! Finance

March 25, 2010 Agricultural Equipment, General Ag News and Notes Post a Comment

Business Briefs – Hawaii Business – Star Bulletin

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Maui Pine auction has good prices

KAHULUI » Maui Land & Pineapple Co. auctioned off a $23 million fresh fruit processing line for just $125,000.

Company President Ryan Churchill didn’t expect many bidders for the equipment because it is so specialized.

The auction held Tuesday at the Maui Beach Hotel drew more than 300 bargain hunters, with many more bidders online.

Maui Pine held the auction to sell off warehouses full of equipment after closing Maui’s last pineapple plantation late last year.

The company already has sold or leased some of its land and equipment to Haliimaile Pineapple Co. Haliimaile is trying to revive pineapple on a smaller scale.

Business Briefs – Hawaii Business – Starbulletin.com

March 24, 2010 Agricultural Equipment, General Ag News and Notes, Maui Gold Pineapple Post a Comment

Last pieces of Maui Pine sold at auction – The Maui News

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Going, going — now it’s gone

KAHULUI – The $23 million fresh fruit processing line that three years ago was supposed to represent the new future of Maui Pineapple Co. was auctioned Tuesday for $125,000.

"It’s so specialized," said Maui Land & Pineapple Co. President Ryan Churchill, noting that there weren’t likely to be a lot of buyers for the equipment.

More than 300 bargain hunters and looky-loos crowded the Elleaire Ballroom at the Maui Beach Hotel for an all-day extravaganza of hope that kept three auctioneers chattering in relays, as many more bidders were online, following the action from around the world.

ML&P closed down its Maui Pine subsidiary at the end of last year, selling or leasing some of its land and equipment to Haliimaile Pineapple Co. But the unwanted leftovers went on the block Monday, ranging from wrecked golf carts to never-used office equipment to a generating station that could power a city of 50,000.

It was a day when the complete newbie could go head to head with the experienced auction-goer and come away a winner.

Like Becky Woods, chief executive officer of Maui Economic Concerns of the Community, which runs Ka Hale A Ke Ola and other island homeless shelters. She noticed pictures of golf carts on the front page of The Maui News on Tuesday morning and decided to check it out.

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March 15, 2010 Agricultural Equipment, General Ag News and Notes, Maui Gold Pineapple Post a Comment

Great American Group(R)* Contracted to Manage Auction of Excess Assets of Maui Pineapple Company

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.

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March 10, 2010 General Ag News and Notes, Maui Gold Pineapple Post a Comment

Maui Land & Pineapple loses $30.4M amid restructuring – Starbulletin

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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.

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March 10, 2010 General Ag News and Notes, Maui Gold Pineapple Post a Comment

ML&P ends ’09 with $123.3M in losses – The Maui News

maui-news-ad

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.

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March 10, 2010 General Ag News and Notes, Maui Gold Pineapple Post a Comment

Aloha, Pine – Maui Magazine – March-April 2010 – Maui, Hawaii

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 Desecration
Pineapple 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.

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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?

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February 16, 2010 General Ag News and Notes Post a Comment

Case will chair Exclusive Resorts board – Pacific Business News

Exclusive Resorts announced Tuesday that AOL co-founder Steve Case has become chairman of its board of directors.

Case also will lead a $20 million round of new equity financing for the luxury destination club.

Case, who has served on Exclusive Resorts’ board since investing in the company in 2003, acquired majority ownership in 2004.

Exclusive Resorts has more than 3,000 members and a real estate portfolio valued at more than $1 billion. The Denver-based club was founded in 2002.

Case grew up in Honolulu and graduated from Punahou School. He is the majority shareholder of Maui Land & Pineapple Co. (NYSE: MLP) and serves on its board of directors.

Case also owns Grove Farm, one of Kauai’s largest private landowners, and is chairman and CEO of Revolution, a market investment firm.

Case will chair Exclusive Resorts board – Pacific Business News (Honolulu):