The annual charts have bee updated. CLICK HERE to view. The 360 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP) 01-22-2010
Calavo Growers (CVGW) 01-22-2010
Alexander and Baldwin (ALEX) 01-22-2010
Monsanto (MON) 01-22-2010
Syngenta (SYT) 01-22-2010
DUPONT E I DE NEM (DD) 01-22-2010
NYSE: ML&P isn’t meeting listing levels
Company has 45 days to offer a way to meet exchange standards
WAILUKU – The New York Stock Exchange has warned Maui Land & Pineapple Co. that it is no longer meeting listing standards.
ML&P announced on Friday that it had received the warning.
The company’s average market capitalization was less than $50 million over a 30-day trading period, and its most recently reported shareholders’ equity was less than $50 million, putting it out of compliance with the stock exchange’s requirements.
Under the NYSE’s procedures, ML&P has 45 days to submit a plan to demonstrate its ability to come back into compliance with the stock exchange’s listing standards within the next 18 months. In the meantime, the company’s common stock will continue to be listed.
In a report filed last month with the Securities and Exchange Commission, ML&P disclosed that auditors updating its annual report in advance of a new stock offering had "substantial doubt" about the company’s ability to stay in business.
The report cited the company’s deep financial losses, weak cash reserves, inability to meet certain financial obligations and a $60 million deficit in shareholder equity as reasons for the auditors’ concerns.
ML&P is hoping to raise up to $25 million in the form of new investment from existing shareholders, an offering that is now pending approval from the SEC.
The annual charts have bee updated. CLICK HERE to view. The 360 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP) 01-15-2010
Calavo Growers (CVGW) 01-15-2010
Alexander and Baldwin (ALEX) 01-15-2010
Monsanto (MON) 01-15-2010
Syngenta (SYT) 01-15-2010
DUPONT E I DE NEM (DD) 01-15-2010
The annual charts have bee updated. CLICK HERE to view. The 360 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP) 01-08-2010
Calavo Growers (CVGW) 01-08-2010
Alexander and Baldwin (ALEX) 01-08-2010
Monsanto (MON) 01-08-2010
Syngenta (SYT) 01-08-2010
DUPONT E I DE NEM (DD) 01-08-2010
The annual charts have bee updated. CLICK HERE to view. The 360 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Alexander and Baldwin (ALEX) 12-18-09
Monsanto (MON) 12-18-09
Syngenta (SYT) 12-18-09
DUPONT E I DE NEM (DD) 12-18-09
The annual charts have bee updated. CLICK HERE to view. The 360 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Alexander and Baldwin (ALEX) 12-12-09
Monsanto (MON) 12-12-09
Syngenta (SYT) 12-12-09
DUPONT E I DE NEM (DD) 12-12-09
The annual charts have bee updated. CLICK HERE to view. The 200 day comparative price, line and histogram charts, page has been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP) 11-06-09
Calavo Growers (CVGW) 11-06-09
Alexander and Baldwin (ALEX) 11-06-09
Monsanto (MON) 11-06-09
Syngenta (SYT) 11-06-09
DUPONT E I DE NEM (DD) 11-06-09
By Dave Segal
Hawaii’s once-rich agricultural industry, renowned throughout the 1900s for its pineapple and sugar crops, has suffered another devastating blow.
With the last remaining sugar company hanging on by a thread, Maui Land & Pineapple Co. said yesterday it would stop planting pineapple immediately, cease all pineapple operations by the end of the year, and lay off more than 45 percent of its work force amid a companywide restructuring that repositions subsidiary Kapalua Land Co.
Up to 285 jobs will be lost
Maui Land & Pineapple Co. announced today that it will cease pineapple operations by the end of the year and restructure its resort and land development division.
Up to 285 employees will be laid off. This comes after 274 employees were laid off in July of 2008 and 100 more jobs were cut earlier this year.
The current work force numbers 624, and the company hopes to offer up to 133 employees positions at partner companies.
In a statement, ML&P Chairman and interim CEO Warren Haruki said:
"The painful decision to close pineapple operations at MPC (Maui Pineapple Co.) after 97 years was incredibly difficult to make, but absolutely necessary. We realize this ends a significant chapter in Maui’s history — an important part of many lives, over many generations."
Haruki said that Maui Pineapple Co. had lost $115 million in agriculture since 2002 while investing $20 million in capital expenditures for a new fresh-fruit packing facility.
"Realizing that these losses could no longer continue, we spent the last year exploring options to keep pineapple operations going on Maui," he said. "Despite our efforts, it became clear that there were no other financially viable options."
Changes were also announced in the resort operations for Kapalua Land Co., which until now had managed most phases of the Kapalua Resort.
According to the statement issued today, the company will "partner with ‘best in class’ operators in their respective fields who can manage select assets of the resort more effectively."
The arrangements to be concluded on or before Dec. 31 include:
— Appointing a management company to manage the 206-unit Kapalua Villas.
— Leasing the equipment and to license operations of Kapalua Adventures to a "well-respected zipline activity company."
— Choosing an operator to provide resort shuttle and security services.
— Finding a new operator of Kapalua Farms.
Last week, Maui Land & Pineapple Co. reported a $25.5 million loss for the third quarter of 2009, bringing the company’s losses for the first nine months of 2009 to $92.9 million — larger than the $76.1 million loss the company recorded for the entire year in 2008.