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Maui Land & Pineapple Co.
Alexander & Baldwin
Maui Electric Co.
10 Hawaiian Telcom
Wailuku Water Co.
A&B has a sweet plan that will boost two of its divisions, reports the Mar. 22 Maui News.
Now get ready, folks—this is a really complex, risky proposal: Hawaiian
Commercial & Sugar (HC&S), which is a wholly owned subsidiary
of A&B, is going to double its “specialty” sugar production. Are
you shocked? I’m shocked. They’re going to go from making 25,000 tons
of their elitist, snobby high-end sugar to 50,000 tons. Think of all
that money! Think of all that tooth decay! But this is a double whammy
for A&B because they’re going to be putting all that new specialty
sugar into containers and then placing those containers on Matson
Navigation ships that are also owned by A&B! (And I thought they’d
just bulldozer a mound of the stuff onto the deck of a freighter and
sail away—shows what I know about sugar production). “The specialty
sugar will be filling containers that Matson would otherwise be
back-hauling empty,” states The Maui News article. See—everybody’s happy!
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And poor, poor Hawaiian Telcom moves up a notch on news that it’s
closing its directory assistance shop and farming the work out to a
subcontractor. I mean, this is good news, right? The company that can’t
get its billing and public service divisions in order even though it’s
owned by the Carlyle Group—one of the world’s richest private equity
firms is now hacking off a limb no one really said was diseased,
putting 36 people out of work, according to a Mar. 22 posting on the Pacific Business News
website. Isn’t this what big firms do all the time to get profitable?
Cut costs? Lay off workers? Things are going to get better, right? MTW