Business Briefs
Reported by Star-Bulletin staff & wire

Tuesday, October 9, 2001

Cyanotech to make
national TV push

Cyanotech Corp., one of two Kona-based producers of health and medial supplements made from pond-grown microalgae, said it will start airing a 30-minute "infomercial" on national television next year to promote its BioAstin product.

Studies have shown that the natural antioxidant based an astaxanthin can help against sunburn, bodily soreness and various degenerative conditions, Cyanotech said.

Competitor and neighbor Aquasearch Inc. recently signed an agreement with a national marketing firm to push its astaxanthin product, The AstaFactor, on the mainland. Both Kona companies have been selling their products in Hawaii.

A&B to join development in Big Island's Waimea

Alexander & Baldwin Inc. said it has taken an interest in a 44-unit home development on former Parker Ranch land at Waimea on the Big Island. The project is the company's second local joint venture announced in recent weeks.

A&B is partnering with Honolulu developer U.J. "Rick" Rainalter Jr. to develop the long-awaited HoloHolo Ku project of fee-simple single-family condominium ranch homes. Half of the eight-acre project is already sold, according to Rainalter.

HoloHolo was originally announced in February 2000 as a partnership between Rainalter and another local developer, John P. Spierling, who has since left the project. Construction, originally scheduled to start at the end of last year, is now expected to begin in November, A&B said.

The development marks the first step of a master plan conceived in 1986 by the late Richard Smart, who owned Parker Ranch. Last month, A&B joined Armstrong Builders Ltd. to build 116 townhouse condominiums at Ko Olina.

Contractor for Kahoolawe looks for suppliers

The Naval contractor hired to clean up the island of Kahoolawe is looking for local suppliers and is holding two business fairs later this month.

Parsons UXB Joint Venture said it needs supplies, equipment and services to support its brush clearing, excavation, demolition and automotive repair operations, along with office and dining operations. The joint venture also buys safety, fuel and industrial supplies. The fairs are scheduled for 1 to 5 p.m. Oct. 24 at Honolulu Airport Hotel and 9 a.m. to 1 p.m. Oct. 25 at Maui Beach Hotel.

In other news ...

Jobless claims in Hawaii remained at more than twice normal during the first week of October, but nowhere near the record number of the previous week. A total of 3,294 people filed for unemployment benefits Oct. 1-5, according to the state. Statewide claims typically average 1,400. The previous week, 4,414 people statewide filed for benefits.

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