Hawaii’s oldest food distribution company, Y. Hata, announced Friday that CEO and President Laurence Vogel is retiring.
Russell Hata, son of Frank Hata and grandson of founder Yoichi Hata, has been named chairman of the board, replacing Frank Hata, and interim president and CEO payday advance.
The company said it will conduct a search for a new top executive.
Russell Hata previously served as managing director.
Pacific Business News was named Hawaii’s best nondaily newspaper for the fifth year in a row by the Hawaii Publishers Association.
The award was announced Tuesday at the annual Pai awards luncheon, where more than 100 awards were presented to newspapers, magazines and visitor publications. The awards were given for work published in 2007.
In naming PBN the best nondaily newspaper, the judges described PBN as "clearly a must-have publication if you’re doing business in Honolulu."
"PBN covers it all - from the decline in the number of Japanese weddings to the transfer of wealth to smaller, rural Hawaiian towns," the judges continued free credit report.com. "Tremendous breadth of coverage of business news, and plenty of depth and enterprise as well. I also liked the range of commentary. Design is crisp, with appropriate font choices and sizes throughout the publication, and nice use of graphics. An excellent publication."
PBN’s Book of Lists received a second place award in the directory category.
ML Macadamia Orchards' production in 2007 was 6.1 percent lower than in 2006, according to a filing with the Securities & Exchange Commission on Wednesday that detailed the productivity and acreage of each orchard.
The Hilo-based company said average yield per acre ranged from 2,489 pounds to 7,149 pounds and were as follows:
Flowers that normally bloom in mid-to-late December did not develop until early February 2007 cash advance. This late development had a negative impact on the fall 2007 nut production and will affect spring 2008 production, the company said.
The company reported on March 17 that it lost $4 million or 53 cents per share on revenue of $11.3 million for the year ended Dec. 31, 2007.
Shares of ML Macadamia Orchards (NYSE: NUT) closed at $3.22 on Wednesday.
Enterprise Charter School has officially received a 27-month extension from the New York state Board of Regents.
The approval keeps the five-year old charter school in operation until after the end of the 2010 year.
Previously, the Buffalo Board of Education unanimously approved the re-licensing cash advance. Enterprise has an enrollment of just over 600 students.
American Eagle Airlines will launch a daily nonstop flight between Dallas/Fort Worth International Airport and Buffalo Niagara International Airport during summer.
The new service will run from June 1 to Sept. 2 and is in addition to the carrier’s four daily nonstop flights from Buffalo to Chicago O’Hare International Airport http://payday-z.com.
American Eagle, which is owned by Fort Worth-based AMR Corp. (NYSE: AMR), will operate the service with 70-seat Canadair CRJ-700 jets.
Web site: www.aa.com
Organogenesis Inc., a life sciences firm focused on regenerative medicine, has acquired a maker of biologically compatible materials called NanoMatrix Inc.
Organogenesis, based in Canton, said the buyout enhances its spot as a leading producer of three-dimensional regenerative medicine products. Terms of the deal between the privately held firms were not disclosed.
NanoMatrix, of Baton Rouge, La., has expertise in a process called electrospinning, which enables the assembly of tiny fibers into three-dimensional scaffolds, intended to mimic the structure and biochemical environment of human tissue, according to Organogenesis freecreditreport.
Organogenesis makes a living-cell tissue product called Apligraf used as a skin substitute. The firm employs about 300 people and reported 2007 revenue of $55 million.
The Bonneville Power Administration Friday released a proposal that could lead to as much as a 4 percent reduction in power costs for local residents and small farmers.
Technically the proposal is for BPA to reduce the wholesale power rates it charges regional utilities. It's too early to say how much of the 4 percent reduction will be passed to consumers.
"You can't necessarily make the assumption that everybody in the region is going to experience that amount of a rate cut," said Katie Pruder, a BPA spokeswoman.
The proposal is a response to a U.S. Court of Appeals decision last May that said BPA had erred in its distribution of cheap power from the region's 31 federal hydroelectric dams.
Friday's announcement is BPA's initial proposal for fiscal year 2009 rates. The proposal will undergo public discussion before a court rules on the rate plan late this summer. At the earliest, the plan will be approved in the fall.
The Bonneville Power Administration is a power wholesaler. Local utilities, such as Portland General Electric, purchase power from BPA and sell it to the public http://payday-nofax.com.
Consumer advocates responded favorably to the announcement.
"We appreciate the steps the Bonneville Power Administration has taken today to begin getting rate relief flowing to the customers of private utilities," Oregon Public Utility Commission Chairman Lee Beyer said in a statement. "While we continue to have concerns about the way BPA views the Power Act, we do acknowledge that they have addressed some of the technical issues the commission has raised in order to lawfully carry out the Regional Power Act."
A spokesman for PGE, the state's largest utility, said it's too early to tell what affect reduced wholesale rates would have on residential power bills.
"It's still unclear when or how our customers will actually see those [benefits]," said PGE spokesman Steve Corson.
PGE only buys a small portion of its power from the Bonneville Power Administration.
Japan's industrial production probably rebounded from its biggest slide in 10 months, as car and electronics makers stepped up output to meet demand from Asia and emerging markets.
Production rose a seasonally adjusted 2 percent after dropping 1.6 percent a month earlier, according to the median estimate of 45 economists surveyed by Bloomberg News. The Trade Ministry releases the report on Jan. 30 at 8:50 a.m. in Tokyo.
Economists say the gains may not last as a U.S. recession could spill into Asia and other developing economies, where a growing consumer class is buying Japanese cars and electronics. Matsushita Electric Industrial Co. expects sales to China, Brazil and other emerging markets to rise 25 percent next year.
“Japan is finding more customers for its exports,'' said Richard Jerram, chief economist at Macquarie Securities Ltd. in Tokyo. Demand from Asia, Russia and the Middle East “gives hope that the slowdown over the next six months might not be too severe.''
Exports, the engine that drove almost all of Japan's third- quarter growth, rose 6.9 percent in December, as record shipments to Asia made up for a drop in sales to the U.S. Exports to Russia, which have doubled in the past two years, surged 40 percent.
Customer growth in emerging markets is one of the reasons Matsushita, the world's largest consumer electronics maker, expects sales to rise next year. The maker of Panasonic-brand electronics plans to invest in a 300 billion yen ($2.8 billion) factory to make liquid-crystal display televisions instant payday loan.
Toyota Production
Toyota Motor Corp., the world's second-largest automaker, has been increasing output for four months even as U.S. consumer demand wanes.
The outlook for exporters including Toyota and Sony Corp., which make about a third of their sales in the U.S., still depends on how badly the world's biggest economy stumbles, Economic and Fiscal Policy Minister Hiroko Ota said this month.
“A U.S. slowdown affects Asia, beginning with China, and via that route it affects Japan,'' Ota said. “The extent to which Japan is hurt depends on the severity of the U.S. slowdown.''
A three-quarters percentage point cut by the U.S. Federal Reserve last week hasn't fully allayed concerns over the economy. UBS AG expects the U.S. to fall into a recession in the first half of the year and exert a drag on the world's growth, including Japan's, UBS said.
UBS cut its 2008 growth estimate for Japan to 1.2 percent from 1.6 percent.
“Slower world growth suggests the outlook for Japanese production isn't great,'' said Akira Maekawa, a UBS economist in Tokyo. “And that suggests, as the Bank of Japan keeps saying, the economy will slow `for the time being.'''
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