Reported by Star-Bulletin staff & wire
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Molokai gets solar water-heating fund
Maui Electric Co. has launched its "Solar for Molokai" program funded by a $1.1 million grant from the U.S. Department of Agriculture's Rural Utilities Service.The fund is expected to support the installation of 300 to 400 solar water-heating systems over two to three years.
Maui Electric will provide more than $320,000 in rebates and administration costs for the program. The grant was one of nine proposals in seven states that were awarded funding to upgrade energy efficiency and electrical service to rural areas with extremely high energy costs. In Hawaii, water heating accounts for the largest use of energy in a typical home.
Applications are available at community partner offices on Molokai, or by calling 1-888-632-6786.
State sells $52M million in bonds
The state of Hawaii has sold $52 million of harbors system revenue bonds at an interest rate of 4.78 percent to refund bonds issued in 1993 and 1994 at higher interest rates.Gov. Linda Lingle said the state will realize cash-flow savings of $7.4 million as a result of the sales.
The interest rate ranks among the lowest borrowing rates for the state and comes after a credit review process in which Moody's Investor Service, Standard & Poor's and Fitch Ratings confirmed the Harbors System A1, A+ and A+ bond ratings, respectively.
Last month, the state sold $225 million of general obligation bonds.
Oil drops on hints of more output
Crude oil prices fell to three-week lows yesterday as the president of OPEC said that the cartel might increase production quotas by a significant amount.Comments by Energy Secretary Spencer Abraham also bolstered confidence among traders that some relief to a tight market might be imminent. During a visit to Moscow, Abraham said there were signs that oil-producing countries, including those outside the Organization of Petroleum Exporting Countries, would increase their production.
Crude oil for July delivery traded as low as $39 a barrel, before settling at $39.44 yesterday, down 3.1 percent on the New York Mercantile Exchange. It was the lowest price for crude oil in New York since May 10.
Daiei Inc. names new chairman
Daiei Inc., two years into a 36-month rehabilitation plan, named Heihachiro Yoshino chairman at the retailer's annual shareholders meeting in Kobe, western Japan.Former Chairman Jiro Amagai, 58, left the company, according to company spokeswoman Kumiko Takahashi. Daiei fell $18 billion into debt funding a failed expansion and had about $14.4 billion of debt remaining as of March 31.
Almond recall keeps growing amid reports of food-poisoning
A nationwide recall on raw almonds expanded yesterday as companies sought the return of almonds sold around the country through mail orders, in bulk and in smaller packages because they may be contaminated.More than 13 million pounds of raw almonds supplied by Paramount Farms in California are under recall. The recalled nuts are the focus of a federal investigation into outbreaks of food poisoning.
The Food and Drug Administration has received at least 20 reports of the illness salmonella enteritidis that are possibly linked to the almonds.
The recall has continued to grow since last week, when Paramount announced it was seeking the return of 5 million pounds of raw almonds.
Yesterday, Kerry Inc. of Beloit, Wis., recalled almonds sold under its Pacific Seasonings' Gold Shield brand in Oregon, Washington, Idaho, Montana, Alaska, Northern California, Hawaii and Guam.
Seattle-based Metropolitan Market also said it was recalling whole and diced raw almonds at its four stores in the Seattle area. The almonds were packed in 8-ounce and 16-ounce clear, square packages with the Metropolitan Market White Scale label, with sell-by dates of Feb. 1 to May 31.
The announcements followed other recalls issued earlier yesterday by companies in Michigan and Missouri.
Five Michigan companies that distribute almonds recalled bulk almonds and products made with almonds that were sold at their stores. The companies were National Bulk Food Distributors, GKI Foods, Koeze Co., Kar Nut Products Co. and St. Laurent Brothers.
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[Hawaii Inc.]
>> Joan Bennet and Associates named Darcie Scharfenstein vice president. She will be responsible for providing counsel on a wide range of communications issues and overseeing accounts. She previously worked as a news reporter, producer and anchor for Clear Channel Communications Hawaii.
>>Financial Freedom said Percy Ihara will join the western region of the firm as reverse mortgage specialist. He will be responsible for meeting with homeowners in Hawaii.
>> SSFM International Inc., which provides project management, civil engineering, planning and construction management services, hired Eric Matsuda as Maui operations senior project engineer. He last worked for Warren S. Unemori Engineering.
>> Westin Maui Resort & Spa appointed Noelani Brink as Director of Fun. She is responsible for overseeing the recreation department and enhancing the overall guest experience through fun, cultural and unique new games and activities for both children and adults. She last served as recreation manager at a residential treatment center for abused and neglected children in Arizona.
>> Hawaiian Airlines appointed Louis Saint-Cyr vice president of in-flight services. He will be responsible for managing the company's flight attendants and overseeing the cabin crews and catering department. He previously worked in senior-level jobs managing aspects of in-flight services for Air Canada.
