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The Honolulu Advertiser
Posted on: Wednesday, March 17, 2010

BUSINESS BRIEFS
Hawaii joins wind energy coalition

Advertiser Staff and News Services

Hawaii news photo - The Honolulu Advertiser

The Governors' Wind Energy Coalition is pushing for policies to increase renewable energy use.

ADVERTISER LIBRARY PHOTO | Nov. 17, 2009

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Hawai'i is one of 29 states that have joined with the Governors' Wind Energy Coalition to call for policies increasing the amount of renewable energy use and for more support for improvements to electric transmission systems.

The report issued by the coalition calls for requiring utilities to get 20 percent of their electricity from sustainable sources, while asking the federal government to provide more incentives for so-called smart grids.

The group also called for the Department of Energy to work with states and the wind industry to accelerate innovation as well as calling for a longer extension of the production tax credit for wind energy.

PACIFIC OFFICE PROPERTIES TRUST TAKES LOSS

Pacific Office Properties Trust Inc., the real estate investment trust headed by Jay Shidler, reported funds from operations were a negative $57.6 million, or $3.17 a share or common unit during the last quarter of 2009.

The company noted the results included a one-time noncash adjustment and that without the adjustment it earned $1.1 million, or 6 cents a share/common unit.

The performance compared with funds from operations of $800,000, or 4 cents a share, a year earlier.

The company derives the bulk of its rental income from Honolulu office properties, including the Pan Am Building, Waterfront Plaza, Bank of Hawaii Waikiki Center, First Insurance Center, Clifford Center and Davies Pacific Center.

ML MACADAMIA POSTS 4TH-QUARTER PROFIT

ML Macadamia Orchards LP said it swung to a net profit of $96,000 in the fourth quarter on higher revenues. A year earlier it reported a loss of $156,000.

The company said the higher profitability and sales resulted primarily from improved kernel recovery and higher nut prices.

The company recently signed a nut purchase contract with Mauna Loa Macadamia Nut Corp., which will buy all of ML Macadamia's production in 2010 and 2011.

Advertiser Staff