Ulupono to invest $15M in Hawaii solar
Honolulu-based Ulupono Initiative will invest $15 million in photovoltaic projects in Hawaii during the next year with the goal of increasing the state’s solar energy-generating capacity by about 5 percent, the investment firm announced Tuesday.
Ulupono has partnered with SolarCity on the project, which will provide PV systems to customers with no upfront cost. The partnership will own the PV systems and sell the electricity to customers at a contracted rate below what the local electric utility would charge.
The first batch of projects will include PV systems at seven state Department of Transportation buildings on five islands and one at a condominium project on Oahu totaling about 1 megawatt of generating capacity.
"Ulupono is investing in this partnership with SolarCity to bring affordable solar power to local customers that can help them manage their rising utility bills," said Kyle Datta, general partner of Ulupono Initiative.
Ulupono Initiative is a for-profit investment firm that aims to improve the quality of life in Hawaii by investing in ventures focused on reducing waste, renewable energy and local food production.
Armstrong finishes Easter Seals renovation
Armstrong Pacific recently celebrated the completion of its $1.8 million renovation of the new Easter Seals Hawaii facility in Kahului. Construction on the 6,000-square-foot building began in February and was completed on time and under budget.
The renovation of the former Kamehameha Schools and Maui Land & Pineapple Co. preschools includes new classrooms to accommodate training and recreational programs; new plumbing and electrical wiring; new bathrooms; a new roof; and a new air-conditioning and ventilation system. In addition, Armstrong Pacific resurfaced the parking lot, installed new landscaping and irrigation, and built a new covered pavilion.
Easter Seals Hawaii is a nonprofit organization that serves infants, children and adults with disabilities and special needs. The new campus offers a space for youth and adults with special needs to participate in social and recreational programs. Additionally, the new facility will serve as a center for work-training programs.
AMR expects 4,400 job cuts, warns 11,000
DALLAS » American Airlines is sending layoff warning notices to more than 11,000 employees, although a spokesman says the company expects job losses to be closer to 4,400.
The notices went out to mechanics and ground workers whose jobs will be affected as American goes through a bankruptcy restructuring.
American Airlines spokesman Bruce Hicks said Tuesday that fewer than 40 percent of those getting notices will lose their jobs. Hicks said federal law requires the company to notify anyone whose position could change, including those who could get "bumped" by senior employees whose jobs are eliminated or outsourced.
Apple closes above $700 for first time
NEW YORK » Apple’s stock closed above $700 for the first time Tuesday, the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours.
Shares closed at $701.91 Tuesday, up $2.13 from Monday’s close. They rose as high as $702.33 in afternoon trading Tuesday. The rally in Apple’s stock price puts the company’s market value at $658 billion.
ON THE MOVE
Hanahau‘oli School’s board of trustees has unanimously elected the following to serve as board members for three years:
» Terrence R. George is executive vice president and chief operating officer of the Harold K.L. Castle Foundation.
» Peter S. Ho serves as chairman, president and chief executive officer of Bank of Hawaii.
The following have also been elected as officers: Wendy Crabb, president; Sharon Himeno, vice president; Eric Schiff, past president; Russell Gifford, treasurer; and Jeff Piper, secretary.
Express Employment Professionals has named Anthony Tolentino as Hawaii’s Employee of the Year. He is an administrative assistant at the Pearl City Express Employment Professionals.
