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Exec gets patent to make wind energy more useful

A Hawaiian Electric Co. executive has received a patent on an "electronic shock absorber" designed to smooth out stability problems that limit the usefulness of wind energy.

The design by Karl E. Stahlkopf, HECO's senior vice president and chief technology officer, stores electricity during periods of increased generation and releases it during periods of no wind. The steadier flow of energy is expected to enhance the stability of power grids that have a wind-energy component, which are vulnerable to surges and shutdowns because of wind fluctuations.

Stahlkopf said such a device could improve the prospects for wind energy in Hawaii and other island systems and in weaker transmission grids on the mainland. HECO said it is working with Chicago-based S&C Electric Co., a maker of power system switches, to build a prototype.

A state law passed earlier this year mandates that 20 percent of Hawaii's energy come from renewable sources such as wind by 2020.

Center lauds minority-owned firm

Paul Kane III, owner of Aloha Marketing Manufacturers Representatives LLC, has been selected by the Minority Business Development Center of Honolulu as Hawaii's Outstanding Minority Distribution Firm for 2004.

The center will hold its third annual Hawaii Minority Enterprise Development Week awards luncheon 11:30 a.m. to 1:30 p.m. Friday at the Hale Koa Hotel in Waikiki. The cost is $30. For more information, call 521-6221. The deadline for registration is tomorrow.

To be considered for an award, a company must be 51 percent minority owned and nominees must have been U.S. citizens and in business for at least five years.

Boyd Gaming raises dividend

Boyd Gaming Corp., operator of Hawaii tour packages to Las Vegas, is raising its next quarterly dividend 13.3 percent to 8.5 cents a share from 7.5 cents.

The latest dividend will be paid Sept. 1 to shareholders of record as of Aug. 13.

Delta posts worst quarterly loss

ATLANTA >> Delta Air Lines reported its worst quarterly loss ever yesterday, putting more heat on management to reshape the ailing carrier.

Delta posted a nearly $2 billion net loss for the second quarter, although the bulk of it was from accounting write-offs that do not reflect the results of daily operations.

Without those write-offs Delta was still $312 million in the red, continuing a string of deficits that has sparked speculation of a bankruptcy filing by the Atlanta company.

CEO Gerald Grinstein said the latest loss reinforces the "urgent need for Delta to transform itself" into a leaner company to compete in a era of Internet travel bargains and feisty discount competitors.

His management team is at work on a strategic overhaul due later this summer.