BUSINESS BRIEFS
Hawaii stocks surge in trading
Advertiser Staff and News Services
Shares of most of Hawai'i's publicly traded companies surged today as broader markets reacted to word that the government is formulating a permanent plan for helping financial markets.
Nine of 11 issues in The Honolulu Advertiser-Bloomberg Hawai'i Index rose for the day, led by a surge in shares of Central Pacific Financial and Maui Land & Pineapple Co.
The index's rise — up 9.59 points, or 10.9 percent, to 97.87 — was its biggest on a point and percentage basis since its creation in August 2007.
Bank of Hawaii shares rose $6.80, or 12.4 percent, to close at a 52-week high of $61.50. Central Pacific Financial jumped $4.76 to $18.70, a 34 percent increase. Maui Land rose $5.01, or 22.6 percent, to $27.20.
The lone decliner on the day was Hawaiian Airlines' parent company, Hawaiian Holdings Inc., which slipped 8 cents to $9.78.
The Standard & Poor's 500 Index advanced 49.94 points to 1,206.33, recovering most of yesterday's 4.7 percent tumble. The Dow Jones Industrial Average surged 410.03, or 3.9 percent, to 11,019.69.
ALASKA AIRLINES WILLING TO TEAM UP
Alaska Airlines, which in July expanded service to Hawai'i, said it would be "very interested" in collaborating with Hawaiian Airlines, Bloomberg News Service reported.
Brad Tilden, chief financial officer of parent company Alaska Air Group Inc., made the remarks today at a Calyon Securities airline conference in New York.
Hawaiian is a unit of Honolulu-based Hawaiian Holdings Inc. Alaska Air is based in Seattle.
WESTSIDE DIVE & TACKLE OPENS
A new store offering equipment and supplies for fishing and diving has opened in the Marketplace at Kapolei.
Westside Dive & Tackle owner Kris Tyler said the store has scuba gear for sale or rent, and also offers scuba gear servicing and tank refills.
Hours are 11 a.m. to 7 p.m. Monday through Saturday, and 9 a.m. to 2 p.m. Sunday.
For more information, visit www.westsidespearfishing.com.
OCEAN ENERGY GRANT OF $1.25M
The University of Hawai'i's National Renewable Marine Energy Center has received a grant of up to $1.25 million under a Department of Energy program that funds research and development on clean technology water projects.
The UH center will "facilitate the development and implementation of commercial wave energy systems and assist the private sector in moving ocean thermal energy conversions systems beyond proof-of-concept to pre-commercialization, long-term testing," according to a news release from the Department of Energy.
GROVE FARM GIVEN ECO-AWARD
General Electric Co. presented Kaua'i's Grove Farm Co. with a GE Ecomagination Award for its rainwater collection and treatment system.
The system uses membrane filtration technology and Grove Farm's century-old reservoir and irrigation system to provide water to as many as 15,000 residents and visitors on Kaua'i.
GE noted that surface water collected and treated at Grove Farm's Kapala Reservoir is becoming an increasingly important drinking-water resource as the island's groundwater reserves decline from rising demand and reduced replenishment.
