KAHULUI – Environmentalists and farmers lashed out Thursday night at the announced layoffs of state agricultural inspectors, arguing that the move planned by the Lingle administration would uproot efforts to preserve the island’s agricultural industry and pristine environment.
Close to 100 people turned out at a Senate Ad Hoc Committee meeting held in the Maui Waena Intermediate School cafeteria. The crowd applauded those who spoke against the layoffs, some even attacking Gov. Linda Lingle.
Commodities Gain
A group of mining companies, seed producers and chemical makers increased 1 percent as raw-material prices jumped. Gold advanced to a six-month high, reaching $999.50 an ounce, while copper rose for a second day. The Reuters/Jefferies CRB Index of 19 commodities climbed 0.2 percent.
Most U.S. Stocks Advance as Retail Sales Beat Forecasts – Bloomberg.com
Kevin O’Leary
Sep 2, 2009Last Friday’s daylong meeting of the State Land Use Commission, to rule on a petition by mega-developer D.R. Horton-Schuler to change the current zoning on 1,500 acres of prime ‘Ewa farmland from agriculture to mixed-use residential and commercial, was anything but boring.
Here’s Kioni Dudley, intervenor in the case, whom some have called the leader of the opposition: “In the beginning, over two years ago, this was just a gut feeling I had.” Now, it is more than a feeling, as Mr. Dudley–and everyone else with a sore gut over the proposed zone change–has picked up some unexpected allies, in the form of at least three State agencies and several local politicians.
Listen to Bryan Yee of the Attorney General’s office, speaking for the State Office of Planning: “We now know that if the petition [for the zoning change] goes through, H-I will be a parking lot from Waiawa to Makakilo. And the petitioner (Schuler) isn’t proposing any solutions.”
If there’s anything we like to cover besides net/nets here at Cheap Stocks, it’s real estate, more specifically, companies that own relatively large amounts of raw land, commercial property, or a combination of the two. My portfolio is chock full of these companies, from retailers such as Cabela’s, to restaurants (Cracker Barrell, Denny’s) to shipping companies (Alexander and Baldwin) to agriculture (JG Boswell and Limoneira), to name just a few.
Over the years, I’ve also sold out of some names as well. Maui Land and Pineapple (MLP) is a great example. I continue to follow the company, however, looking for a re-entry point, or making a determination of whether I want to take a new position.
MLP, which owns 24,500 acres primarily in Maui, Hawaii, including 10.6 miles of ocean frontage with 3300 of lineal feet along sandy beaches, has fallen on hard times during the recession. The company recently reported a $54 million loss for the second quarter, which included more than $37 million in writedowns, $21.3 million of which represented a decrease in value of the Company’s investment in the Kapalua Bay resort. Clearly, the downturns in real estate prices and resort visitors has been a double whammy for MLP. The stock now trades at $6.22, down 79% from its 52 week high of $29.69.
The annual charts have been updated also. CLICK HERE to view.
Maui Land and Pineapple (MLP)
Calavo Growers (CVGW)
Alexander and Baldwin (ALEX)
iPath DJ AIG Sugar TR Sub-Idx ETN (SGG)
Click for Larger Image
Please visit the website for more information:
http://www.nass.usda.gov/hi/
————————————————————-
Contact Information:
Mark E. Hudson, Director
USDA NASS Hawaii Field Office
1421 South King Street
Honolulu, HI 96814-2512
Office: (808) 973-9588 / (800) 804-9514
Fax: (808) 973-2909
————————————————————-
"HAWAII AQUACULTURE" reports are available on our website and also PRINTED annually. Subscriptions for PRINTED copies are free to those persons who report agricultural data to NASS (upon request) and available for $2 per year to all others.
Hawaii grown aquaculture reached a record $34.7 million in 2008, increasing 38 percent from 2007. Algae sales accounted for 45 percent of the value and amounted to $15.7 million. Finfish sales by weight valued at $7.0 million, comprised 20 percent of the total. The ornamental category was pegged at $3.3 million or 10 percent of the total. The ‘other’ category includes seed stock, brood stock, and other items counted by number, accounted for 24 percent or $8.3 million. Hawaii County continued to lead the State in aquaculture sales with $27.8 million or 80 percent of the total value. Sales from Honolulu, Kauai and Maui Counties accounted for the remaining 20 percent.