BUSINESS BRIEFS
N.Y. firm buying Maui resort
Advertiser Staff and News Services
A New York investment firm controlled by the founder of Dell Inc., the multibillion-dollar direct seller of computers, has agreed to purchase the Four Seasons Resort Maui for an undisclosed price.
Four Seasons has a management contract that has about 50 years remaining, so no changes in management or staffing are anticipated, and the present staff is expected to be retained by the new owner, MSD Capital LP, according to Thomas Steinhauer, general manager and regional vice president of Four Seasons.
MSD Capital LP is a firm created to manage the personal fortune of Michael Dell and his family, according to its Web site.
The seller is SCP (Maui 5) Inc., an arm of the original builder and part-owner of the resort, Shimizu Inc.
Gas in Wailuku hits $2.419 high
The average price of regular gasoline hit a high of $2.419 a gallon in Wailuku, Maui, yesterday, according to AAA travel club.
That's up 4 cents from a month ago and nearly 14 cents higher than a year ago. The year-ago price did not include a 5-cent increase in county gasoline taxes that took effect July 1, 2003.
Hawai'i's statewide average stood at $2.14 a gallon, second to California's $2.186
HEI announces stock split
Hawaiian Electric Industries yesterday announced a 2-for-1 stock split, a month after shares hit a 52-week high.
The effective date for the split is June 10. The parent of Hawaiian Electric Co. and American Savings Bank also plans to keep its current quarterly cash dividend of 62 cents, or $2.48 a year.
Maui Land hires finance officers
Maui Land & Pineapple Co. Inc. is hiring two executives to lead the finance operations of its two major subsidiaries.
Thomas J. Selby will serve as vice president/finance of Kapalua Land Co. Ltd. He is a former vice president/finance for Castle & Cooke Resorts. Fred W. Rickert, former chief financial officer of the Port of Oakland, Calif., will be appointed as vice president/finance of Maui Pineapple Co. Ltd.
Correction: A previous version of these briefs incorrectly stated the price of gasoline in Wailuku.
