BUSINESS BRIEFS
Isle aquaculture sales down 25%
Advertiser Staff and News Services
Hawai'i aquaculture sales fell 25 percent to $21.3 million in 2006, according to the National Agricultural Statistics Service.
Algae sales accounted for 56 percent of the value at $11.9 million. Finfish and shellfish categories each amounted to $2.4 million, or 11 percent apiece of the total. Hawai'i County continued to lead the state in aquaculture sales with $17.5 million, or 82 percent of the total value.
Sales from Honolulu, Kaua'i and Maui counties accounted for the remaining 18 percent of market value.
ELLIS GROUP ONE OF TOP GROWERS
CB Richard Ellis Group Inc. has been named the 33rd fastest-growing company in the United States, according to a new ranking in Fortune magazine.
The Hawai'i office of CB Richard Ellis is the largest commercial real estate firm in the state. The office handled lease and sales transactions valued at $647 million in 2006. The office also represents more than 30 percent of the office space in Downtown Honolulu and manages almost 8 million square feet of commercial space in Hawai'i.
Fortune identified the top 100 fastest-growing companies in 2007 based on a composite of three-year revenue, earnings-per-share growth and total return to shareholders.
ISLE STUDENT LOAN OFFICES CLOSING
Student loan company Nelnet Inc. said it will close small loan-origination offices in Honolulu and four other cities because of new lending rules before Congress that would cut back on federal subsidies for student aid.
Nelnet plans to cut expenses by at least $25 million annually.
The 400 job cuts announced Thursday represent more than 12 percent of the company's 3,300 employees.
KAUA'I HARBOR CONTRACT GRANTED
The U.S. Army Corps of Engineers has awarded a nearly $19 million contract to a Kapolei firm, Kiewit Pacific Co., to complete improvements to Kikiaola Small Boat Harbor on Kaua'i.
The total project cost could exceed $22 million if contract options totaling more than $3.7 million are exercised by the state for local project features.
Kikiaola Harbor is on the southwest coast of Kaua'i, between the towns of Kekaha and Waimea.
The harbor improvements will consist of dredging an entrance and access channels, and modifying existing breakwaters to ensure greater navigational safety.
U.S. Sen. Daniel K. Inouye, D-Hawai'i, helped secure $15 million in March to cover the federal share of the Kikiaola Harbor project.
