Business briefs


POSTED: Tuesday, November 24, 2009


Cyanotech stock jumps nearly 23%

Shares of Cyanotech Corp., a Kona-based producer of human nutritional products out of microalgae, jumped 22.6 percent yesterday to $3.47, their highest close in more than four years.

The company's shares have outperformed all of Hawaii's stocks this year with a 137.8 percent gain. Yesterday's close was Cyanotech's highest since Nov. 3, 2005, when it reached $3.68. Earlier this month, Cyanotech posted a 267 percent earnings increase to $599,000 in its fiscal second quarter on a 20 percent jump in sales, improved gross profit margin for its two core products, Spirulina Pacific and BioAstin Natural Astaxanthin, and cost containment.


Hawaii biz hall nominations sought

The nomination deadline for the Junior Achievement of Hawaii Inc. Hawaii Business Hall of Fame is drawing near.

The organization inducts local business leaders into its Hall of Fame each year, and this year's event will be March 12. Individuals are honored for business innovations, effective management and civic involvement. The 2009 honorees were Dean Okimoto, founder and president of Nalo Farms Inc., Herbert Monty Richards Jr., chairman and president of Kahua Ranch Ltd., and Susanna Cheung, president of Helemano Plantation.

Entries must be postmarked by Friday, or faxed to 545-1877 or e-mailed to .(JavaScript must be enabled to view this email address) by Monday.


Toys for Tots names winners in drive

The Marine Corps has named the winners of its inaugural Tricycle Cup donation drive focused on the central business district, in which more than 250 toys and $4,500 were collected last Tuesday.

The first-place winner was Merrill Lynch, while American Savings Bank and Morgan Stanley Smith Barney won second and third place, respectively. Representatives of the companies were presented trophies at a recognition reception last week.


Island Air offers $99 round-trip fare

Island Air is offering a $99 round trip and waiving the bag fee for the first two check-in items for travel on any Monday through Thursday from next Tuesday through Dec. 10. The special also provides customers an option to rent a car from Alamo for $21 a day, and upon check-in will make available the General Growth Properties Premiere Passport with unadvertised discounts from retailers at Ala Moana Center.

The promotion is only available at islandair.com and must be purchased from today through Friday.


Pacific Office operating funds gain

Santa Monica, Calif.-based Pacific Office Properties Trust Inc., which generated about 73 percent of its net operating income in the third quarter from the Honolulu market, reported funds from operations of $900,000, or 5 cents a share, compared with $500,000, or 3 cents a share, a year ago. Funds from operations are the most commonly accepted measure of a real estate investment trust's operating performance. The company posted a net loss of $1.24 million, or 40 cents a share, compared with a loss of $1.19 million, or 39 cents a share, a year ago.



;  Stryker Weiner & Yokota Public Relations said Tracy Teruya has rejoined the company as senior account executive for its corporate and public affairs division. She was previously an assistant marketing and communications manager for DTRIC Insurance as well as servicing SWAY's corporate and public affairs clients in 2004 for three years. Also, Jessica Woo has been hired as assistant account executive for its corporate and public affairs division. She was previously a judicial law clerk for state Circuit Judge Steven S. Alm.

Animal Welfare Approved has announced that Eden Earthworks in Mountain View on the Big Island, Hawaii Lowline Cattle Co. in Honokaa on the Big Island and Kauai Kunana Dairy on Kauai's North Shore were awarded the Animal Welfare Approved seal for high-welfare animal husbandry. Animal Welfare Approved is a free certification granted to family farmers adhering to the high animal welfare standards outlined by the nonprofit program.

» Team Clean was awarded the Cleaning Industry Management Standard certification by ISSA, the worldwide cleaning industry association. Team Clean is the first professional cleaning company in Hawaii to win that particular award as well as to have been given honors.