BUSINESS BRIEFS
Tori Richard goes photovoltaic
Advertiser Staff and News Services
Resort apparel company Tori Richard Ltd. has installed a photovoltaic system to help power its Kalihi headquarters.
Suntech Hawaii designed and installed the $1.1 million, 154-kilowatt system that will provide an estimated 94 percent of the company's power, saving Tori Richard nearly $5,000 per month in electricity bills. The system will result in nearly 300,000 fewer pounds of carbon dioxide emitted and 4,356 fewer barrels of oil consumed over the life of the system.
"Government and other large institutions began to adopt the technology a few years ago. But Tori Richard's system is the first and largest of any local private retailer/manufacturer," said Sean Mullen, president of Suntech Hawaii.
Josh Feldman, Tori Richard owner and chief executive officer, said the system will help the environment and save money.
"While it feels nice to make 'green' decisions, the fact is the PV installation makes simple economic sense," Feldman said.
CHEF MAVRO RECEIVES TOP 40 RATING
Chef Mavro restaurant made it onto Gayot's list of "Top 40 Restaurants in the U.S. 2008," the only Hawai'i restaurant to do so.
Other members of the Top 40 include The French Laundry and Gary Danko in California, Per Se and Eleven Madison Park in New York, Joel Robuchon in Las Vegas, and Alinea and Charlie Trotter's in Chicago.
The complete list is available at http://www.gayot.com/bestrestaurants/finestrestaurantsusa.html.
"As a chef, a Gayot rating is huge because food is their focus. And I'm always proud for the state of Hawai'i when my restaurant earns national recognition," said George "Chef Mavro" Mavrothalassitis, the restaurant's chef and owner.
ADVERTISER-BLOOMBERG INDEX UP
Most Hawai'i stocks gained as Wall Street enjoyed a late-day rally that sent the Dow Jones Industrial Average up 889.35, or 10.88 percent.
Seven of the 11 shares in the Honolulu Advertiser-Bloomberg Hawai'i Index rose, as the index increased by 2.83 points to 67.77. The index, which began in August 2007, rose from an all-time low yesterday.
Among the leading gainers were Hawaiian Holdings, which rose 12.9 percent in gaining 73 cents to $6.39 a share. Bank of Hawaii shares jumped 8.4 percent in rising $3.63 to $46.78.
Two issues fell during trading — Maui Land & Pineapple was down 4.3 percent to $13.39, while Barnwell Industries slipped 18 cents to $6.09.
BOYD DOWNTOWN PROPERTIES HURTING
Boyd Gaming Corp. reported lower income from continuing operations during the third quarter, in part because of lower business at its Downtown Las Vegas gaming properties that are popular with Hawai'i residents.
The company also reported that income from continuing operations when adjusted for preopening expenses and writedowns was less than half the income it earned a year earlier. On this basis Boyd reported a profit of $14 million or 16 cents a share. That was less than the about 19 cents a share consensus estimate of financial analysts polled by Bloomberg L.P.
Revenue at Boyd's Downtown properties fell to $55.6 million from $59.3 million a year earlier. During a conference call with analysts and investors, Boyd's management said the properties had been hurt by the shutdown of Aloha and ATA airlines.
"As a result, the ability for Hawaiians to get to Las Vegas has become more difficult as scheduled airline capacity has been significantly reduced," said Paul Chakmak, Boyd executive vice president.
