Honolulu Star-Bulletin Business /2005/03/23/

[ FAST FACTS HAWAII ]

Mera's loss rises on falling revenue

Big Island nutritional supplement producer Mera Pharmaceuticals Inc. lost $246,918 in its fiscal first quarter, the company said in a regulatory filing yesterday.

Mera's quarterly losses grew 31 percent during the period ended Jan. 31 from a year earlier, the company said, as revenues dropped by half, to $132,341. The company attributed the decline in revenue to a large wholesaler who placed an order in the first quarter of 2004 but not in the most recent quarter, as well as a drop in resales from third parties. Royalty revenue also declined by $56,026 after a licensing agreement expired.

Expenses during the quarter fell 18.6 percent to $380,238.

Mera noted that core product sales increased somewhat during the quarter, reflecting a widening customer base.

The company delayed its first-quarter filing from last week because auditors had not completed reviews of financial statements.

Mera, which makes nutritional supplements from microalgae, has lost $4.1 million since it emerged from Chapter 11 bankruptcy in September 2002.

Post office touting eBay sales

U.S. Postal Service representatives will give demonstrations on Oahu this week on how to sell products using the online auction giant eBay.

The free demonstrations will be held 10 a.m. to 2 p.m. today at the downtown post office, tomorrow at the Kaneohe post office and Friday at the Mililani post office.

Specialists will provide group and individual demonstrations and lead discussions on topics including how to establish a virtual eBay store and how to use Click-N-Ship, carrier pickup and automated postal centers.

[Hawaii Inc.]

Promotions

» Nextel Partners Inc. has appointed Cara Yamaguchi Kakuda general manager. She will be responsible for general operations and will oversee recruiting, developing and coaching the sales team. She has served as the company's Hawaii direct sales manager for the past seven years.

» First Hawaiian Bank has promoted the following employees to officer posts: Karen Y. Matsumoto, mortgage banking department assistant vice president; Kendall J.H. Wong, Kaneohe branch assistant vice president and branch manager. The bank has also appointed the following employees to officer posts: Kimo B. Todd, personal trust department vice president and trust tax manager; Stacey Y. Ginoza, service delivery division branch support officer; Cecilia McMoore, commercial card department commercial card officer; and Christine M. Harauchi, PC and network services officer.

On the Board

» The Federal Reserve Board has appointed Kelly K. Walsh to its 30-member Consumer Advisory Council. She will be responsible for helping advise the board on the Consumer Credit Protection Act. She is a Bank of Hawaii senior vice president.

» Mid-Pacific Institute has appointed Mohsen M. Agsen and Susanne Pearce to the school's board of trustees. Agsen serves as president of Mobicore, a Manoa company that designs gaming software for mobile phones. Pearce serves as the Children's Alliance of Hawaii's president.

» Hoana Medical, a medical device maker, has appointed Brock Nelson to its board. He is president and CEO of Regions Hospital in St. Paul, Minn. He brings over 25 years of experience in improving patient safety and care.

» The Hawaii Leeward Planning Conference has appointed Ken Melrose chairman. He will be responsible for focusing on initiatives in delivering affordable housing, infrastructure planning and roadway connectivity. He is executive vice president for the Maryl Group.

» Aloha Festivals has appointed four new members to its 2005 board of directors: Rick Egged, Waikiki Improvement Association president; Terry Dowsett, Actus Lend Lease LLC property manager; Blaine Kia, Kumuhula Kia Enterprises; Ryan Laskey, hotel manager for the Sheraton Waikiki Hotel.

>> Hawaiian Electric Co. has appointed three new directors to the company board: Timothy E. Johns, David M. Nakada and Crystal K. Rose. Johns is chief operating officer of the Samuel Mills Damon Estate and previously headed the state Department of Land and Natural Resources. Nakada serves as executive director of the Boys & Girls Club of Hawaii. Rose is a partner at the Bays, Deaver, Lung, Rose & Baba law firm. She focuses her practice on commercial real estate, construction and trust litigation.

» The Hawaii Hospitality Sales & Marketing Association has elected Alex Kirley president. She is a group sales director for Ruth's Chris Steak Houses. She is responsible for sites in Honolulu's Restaurant Row, on Front Street in Lahaina and at the Shops at Wailea.

» Servco Pacific Inc. has elected Walter A. Dods Jr. to its board of directors. He recently retired as BancWest and First Hawaiian Bank's CEO.

» Young Brothers Ltd. and Hawaiian Tug & Barge have appointed Roy K. Katsuda as their 2005 Maui County Community Advisory Board chairman. He serves as Hale Mahaolu's executive director. He succeeds Gladys Baisa.

» The Young Public Relations Professionals has appointed its 2005 board: Melissa Malahoff-Kamei, chairwoman; Lisa Cripe, vice chairwoman/secretary; Arlene Abiang, programs and publicity director; Michael Ni, treasurer/membership director.