BUSINESS BRIEFS
State electricity sales down 3.3%
Advertiser Staff and News Services
The state's newest energy trend report shows the amount of electricity sold in the state fell by 3.3 percent in September when compared to the same month in 2007.
The report by the state Department of Business, Economic Development and Tourism said 880.4 million kilowatt-hours of electricity were sold during the month by electric utilities, which consumed less fuel oil and diesel oil during the month.
The report also noted that gasoline use had increased by 6.7 percent during the month. But the usage data is pulled from tax filings, and strict comparisons over year-earlier periods may not always be accurate because of the way taxes are filed.
When a month ends on a weekend or holiday, tax reports filed on those days may fall into the next month, possibly inflating those numbers. August 2008 ended on a Sunday, so some gasoline tax reports may have been filed in September.
The report said through the first nine months of this year, gas use had fallen 9 percent compared to the similar 2007 period.
HOKU SELLS KAPOLEI FACILITY FOR $5.8M
Hoku Scientific Inc. said it has completed the sale of its Kapolei facility for $5.8 million to the Operating Engineers Local Union No. 3 - District 17.
The company had announced the sale in July and had taken out a $3.5 million Bank of Hawaii loan that month using the property as its security. Hoku said with the sale it has paid off the credit facility and that the bank had released its security interest in the property.
Hoku said it has relocated its corporate and solar installation administration staffs to office space in the Hokua building at 1288 Ala Moana. It said it is still looking for warehouse space for materials and other storage for its solar business.
MOBI ADDS 2 NEIGHBOR ISLE CELL SITES
Mobi PCS has deployed new cell sites in Wailuku and Lihu'e, bringing to 27 the number of cell sites it's added on O'ahu, Maui, Kaua'i, Moloka'i and the Big Island since the start of the year.
Mobi said the Wailuku site enhances coverage along Honoapi'ilani Highway to Ma'alaea, along Kahekili Highway to Waiehu. It said the Lihu'e site strengthens in-building coverage throughout the residential and commercial areas of central Lihu'e and the industrial area near the airport.
PACIFIC OFFICE DECLARES DIVIDEND
Pacific Office Properties Trust Inc., the office real estate investment trust that owns seven buildings in Hawai'i as well as in Southern California and Arizona, said its board of directors has declared a cash dividend of 5 cents a share.
The dividend will be payable on Jan. 15 to shareholders of record on Dec. 31. The company's strategy is based on one developed by The Shidler Group, a Honolulu-based company that has focused on acquiring commercial real estate. In addition to Pacific Office Properties Trust, the Shidler Group has founded three other publicly traded REITs, including Corporate Office Properties Trust, First Industrial Realty Trust and TriNet Corporate Realty Trust, which is now part of iStar Financial.
SPRINT SPENT $6.7M ON COVERAGE
Sprint said it's invested more than $6.7 million and added 13 new cell sites to its wireless network in Hawai'i during the first nine months of this year to enhance its coverage.
The company said CDMA-enhanced areas include four on Kaua'i, three on the Big Island and two on O'ahu, including an area around the University of Hawai'i and Kahala. It said iDen site enhancements that include Nextel Direct Connect were made in three areas on O'ahu and one on Maui.
