BUSINESS BRIEFS
Kaka'ako redevelopment plan filed
Advertiser Staff and News Services
Kamehameha Schools yesterday filed its master plan application with the state to redevelop 29 acres in Kaka'ako into a largely residential community.
The plan for Kaiaulu 'o Kaka'ako, or Kaka'ako Community, envisions a mix of 2,700 housing units and commercial space over nine blocks between Restaurant Row and Ward Centers mauka of Ala Moana, which would complement a technology business complex Kamehameha Schools plans on a site makai of Ala Moana near the University of Hawai'i medical school.
The plan was filed with the Hawai'i Community Development Authority, the state agency guiding development in Kaka'ako. The agency will schedule a public hearing on the plan, which sets a framework for allowed building heights, affordable housing contributions, public space and other things for 15 years or longer.
DODS INCREASES A&B HOLDINGS
Alexander & Baldwin Inc. Director Walter Dods Jr. has increased his holdings in the company to 47,180 shares after buying 22,860 shares last week, according to a filing at the U.S. Securities & Exchange Commission.
Dods, best known for building of First Hawaiian Bank into the state's largest bank by assets, bought the shares at an average price of $22.17, the filing said. Yesterday, Alexander & Baldwin's shares rose $1.32 to $24.84.
Dods is required to disclose his transactions in Alexander & Baldwin's shares because he is a director.
HAWAI'I STOCKS ADVANCE
Hawai'i stocks rose as Wall Street rallied for a fourth consecutive day, led by shares of Hoku Scientific and Hawaiian Holdings.
Hoku shares rose 24 cents, or 8 percent, to close at $3.21, while Hawaiian Holdings, the parent company of Hawaiian Airlines, increased 24 cents to $4.36.
Among other notable Hawai'i publicly traded companies, shares of Maui Land & Pineapple increased 61 cents to $1.33, while Bank of Hawaii rose 43 cents to close at $44.48 and Central Pacific Financial climbed 17 cents to $12.79.
Shares of ML Macadamia Orchards LP, which were moved this week from the New York Stock Exchange to the over-the-counter market, rose 1 cent to close at $2.
Cyanotech was the lone stock that declined for the day, falling 6 cents to $1.39.
The Dow Jones Industrial Average rose 247.14, or 2.91 percent, 8,726.61. It marked the first four-day advance for the index since last spring.
WORKSHOP AIMED AT HIGH-TECH FIRMS
High-tech businesses can learn about research and development tax credits and how recent changes can benefit their companies at a workshop Dec. 5 at the Manoa Innovation Center's Presentation Room.
The event is sponsored by the High Technology Development Corp. and will feature experts from Grant Thornton LLP. Registration begins at 9:30 a.m. with the presentation to run from 10 to noon.
The experts will explain state tax credits, including which expenditures qualify for research and tax credits, and what are some of the developments at the IRS and the Hawai'i Department of Taxation regarding credits.
Admission is free to HTDC clients and $15 for nonmembers. To register, e-mail events@htdc.org by Dec. 3, or call 539-3794.
For additional information, call Sandy Park at 539-3794 or e-mail her at sandyp@htdc.org.
