NYSE accepts Maui Land's plan

Maui Land & Pineapple Co.'s stock will be allowed to continue with its current listing after its compliance plan was accepted by the New York Stock Exchange.

The NYSE said the company's plan will be subject to quarterly reviews by the NYSE to monitor the company's progress against the plan.

On Jan. 11 the company was notified by the NYSE that it had fallen below the NYSE's continued listing standard requiring that it maintain an average market capitalization of at least $50 million over a consecutive 30 trading-day period.

Maui Land's stock, which last closed at $5.60, currently has a market cap of $47.7 million.

Island Insurance lowers auto rates

Island Insurance Co. rates for personal auto insurance will decrease by up to 3.5 percent, depending on coverage limits and other factors, the company has announced. The decreases also will apply to policyholders of affiliated companies Premier Insurance Co. and Tradewind Insurance Co.

Policyholders can expect to see the reduction take effect upon renewal, while reductions are effective immediately for new policies and polices with effective dates of May 1 or later.

Isle elevator firm assets purchased

Finnish-headquartered KONE has acquired the assets of Honolulu-based Akamai Elevator Co., an independent elevator service company.

While KONE has had a Honolulu branch for some time, the acquisition further expands KONE's position in the Hawaii market, said Jeff Eaton, director of acquisitions for KONE Inc.

“;We are thrilled to further strengthen our position in the Honolulu market through the addition of Akamai Elevator's valuable customers,”; says Vance Tang, KONE executive vice president and area director for the Americas.

The deal closed in March, and KONE will absorb Akamai's elevator operations and all its employees under the KONE name this month, Eaton said.

“;This won't impact Akamai employees at all,”; he said.

In 2009, KONE had annual net sales of 4.7 billion euros and approximately 34,000 employees.

KONE celebrates its centennial anniversary this year.

Bankoh's Landon headlines luncheon

Bank of Hawaii Chairman and Chief Executive Officer Al Landon will provide an update on the banking industry as well as Bank of Hawaii and also will address the state economy as it relates to West Oahu at the West Oahu Economic Development Association luncheon on Friday at the Ko Olina Ocean Ballroom at the JW Marriott Ihilani Resort and Spa.

The luncheon also will feature a presentation by Gregory Barbour, administrator of the Hawaii Foreign-Trade Zone, 14 specially designated areas in Hawaii that fall outside U.S. Customs' territory. Barbour will discuss how those areas, which include all of James Campbell Industrial Park, allow cost savings for companies that use foreign-made components in their manufacturing and/or store foreign goods.

Registration will start at 10:45 a.m., with lunch at 11:15 and the presentation at 11:45.

Tickets are $60 per person. The cost for students with proper identification is $15. Self-parking is free.

For more information, or to register, call Barbie Rosario at 842-1600 or go to .(JavaScript must be enabled to view this email address) or .(JavaScript must be enabled to view this email address).

Stock market closed

The U.S. stock market was closed yesterday due to Good Friday.

On the Move

» Benchmark Hospitality International has promoted Dida Hernandez to director of food and beverage for Turtle Bay Resort from director of conference services. Her experience includes work as senior conference manager, conference manager, catering sales manager and catering coordinator for the company.

» Baldridge & Associates Structural Engineering has hired Nemencio Santos as project coordinator CAD technician. He has 15 years of CAD design experience and was previously a senior CAD technician/senior architect for Marc M. Siah & Associates.

» Verizon Wireless has promoted Brandon Bustillos to retail store manager from assistant store manager for the company's Kailua-Kona store. He started as a retail sales representative in 2006, then was promoted into management in California.

» The West Oahu Economic Development Association has announced its 2010 officers: Jon McKenna, president; Lance Wilhelm, vice president; Keith Yoshida, treasurer; and Georgette Stevens, secretary. Directors are Darian Chun, Louie DeCastro, Kristi Hirota-Schmidt, Raymond Ho, Cameron Nekota, Mike Nelson and Roy Yonaoshi.