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[ FAST FACTS HAWAII ]

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Mera partners with San Diego biotech

Big Island neutraceutical company Mera Pharmaceuticals Inc. is partnering with a San Diego biotechnology firm to grow microalgae for producing therapeutic proteins.

Rincon Pharmaceuticals Inc. said it picked Mera's algae cultivation system over others to conduct pilot studies at Mera's research and production facility in Kona. If the first round of studies is a success, Rincon said it could exercise an option to use Mera's technology to build its own production facility.

Fitch gives city bonds 'AA' rating

Fitch Ratings has rated the city's planned $328.5 million in general obligation bonds as "AA" and affirmed an "AA" rating on another $1.6 billion in outstanding bonds.

Fitch cited Honolulu's tourism industry, the city's spending practices and military presence as reasons for the rating.

Aloha Air reports operating loss

Aloha Airlines, which has been seeking an investor to bring it out of bankruptcy, posted an operating loss of $3.8 million in the first quarter on revenue of $112.2 million.

Fuel costs were $23.3 million and its net loss for the quarter was $6.5 million.

Aloha, which filed for Chapter 11 on Dec. 30, reported it had a net operating gain in March of just more than $3 million on revenue of $40.7 million. Net income for the month was $1.5 million and included $1 million in reorganization items.

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[Hawaii Inc.]

NEW JOBS

» RIM Architects has appointed four employees to key positions. Ahmad Salam has been hired as chief financial officer. He will be responsible for providing a centralized accounting structure for the Hawaii, Guam and California offices. Jule Lucero has been appointed interior design director. She has over 19 years of diverse experience in the design field. Beth Kuch has been hired as marketing coordinator. She will be responsible for proposals, public relations, advertising and special events. Angela Sulka has been promoted to marketing assistant. She will be responsible for providing graphic design and marketing support.

» American Savings Bank has hired Angie Lau as a residential loan officer and Lorie Fukuhara as a residential loan sales department real estate officer. Lau has over 20 years of experience in the banking industry as a commercial banking officer. Fukuhara will be responsible for servicing existing loans and brining in new accounts.

ON THE BOARD

» The Outrigger Duke Kahanamoku Foundation has appointed Ernest "Cary" Moore president of its board. He will be responsible for overseeing the 15-member volunteer board and its activities to support Hawaii scholar-athletes and sports-minded clubs and organizations. He is a director of the law firm Torkildson, Katz, Fonseca, Moore & Hetherington.