Ecospan Systems wins UH business plan contest

Ecospan Systems, a company that would make building material from agricultural waste, is the winner of the best business plan contest from the University of Hawaii.

The university's Center for Entrepreneurship and E-Business at the College of Business Administration presented the winners Saturday. Ecospan was picked from eight finalists who presented their business plans before judges at the Stan Sheriff Center.

For taking first place, Ecospan's creators -- Monte Littlefield, Tamaki Saito and Barry Sullivan -- win $15,000.

Taking the second place prize of $10,000 went to Alohacare Intelligent Monitoring, which also won the best health care award, which includes $5,000 toward space at the Hawaii Health Care Business Incubator.

The third-place $5,000 prize went to Meira Networks. Meira Networks, which would make software to manage optical networks, also won the prize for best technology, which includes $5,000 worth of office space at the Manoa Innovation Center.

The contest began in February with 40 teams.

Bankoh grants credit line to American Samoa

PAGO PAGO, American Samoa >> Bank of Hawaii has approved a $2.5 million line of credit to American Samoa to protect its economy against fluctuating revenue streams.

In March, Gov. Tauese Sunia signed a bill that authorized borrowing up to $5 million.

However, Bank of Hawaii only allotted $2.5 million, which matches the government's payroll for two weeks.

Without the money, Sunia said sustaining all government operations would be difficult and "jeopardizes smooth functioning of the government."

Chevron trial date against dealer set

Chevron Corp.'s lawsuit against local gas dealer Frank Young is scheduled for a Sept. 11 trial.

Earlier this week, U.S. District Judge David A. Ezra declined to rule the case in favor of Chevron without a trial.

Chevron sued in 1999 to evict Young from a Kakaako gas station run by his family for nearly 40 years. Young violated his lease by repeatedly failing to operate the station during specified hours of business, Chevron says.

But Young's attorney, Eric Seitz, says Chevron is trying to trample on Young's right to free speech. The station's operating hours were not an issue until Young publicly criticized Chevron's local gas-pricing strategies, Seitz says.

Shell ends hostile bid after Barrett taps Williams

NEW YORK >> Royal Dutch/Shell Group said today it had withdrawn its takeover bid for Barrett Resources Corp. after the natural gas producer agreed to be acquired by Williams Cos. Inc. for $2.5 billion.

Royal Dutch/Shell, which made a $2 billion bid for Barrett through its Shell Oil Co. subsidiary, said it had terminated its offer and would discontinue any further efforts.