HECO renews bid to add renewable energy

Hawaiian Electric Co. launched a renewed effort Friday to add at least 200 megawatts of renewable energy generation on Oahu.

HECO submitted a draft proposal to the Public Utilities Commission that will set the guidelines for developers that want to participate in the program.

The energy can be produced on Oahu or on a neighboring island from where the energy can "reasonably" be transmitted to Oahu via an undersea cable, according to HECO.

The utility said its goal is to have the renewable energy delivered to the HECO grid no later than Dec. 31, 2018.

"We must get Hawaii off oil, and with our larger population and limited resources, Oahu faces the biggest challenge," said Robbie Alm, HECO executive vice president. "Recent price spikes and continued turmoil in oil-producing regions are reminders that we have to cut our dependence on oil as quickly and completely as possible."

The PUC ordered HECO to seek new proposals for renewable energy generation after a tentative plan by First Wind to build a large-scale wind project on Molokai failed earlier this year.

Maui Choppers files for liquidation

Kihei-based Maui Choppers Inc., a retailer of motorcycle parts and apparel, has filed for Chapter 7 bankruptcy liquidation.

In its filing Thursday, the company cited estimated assets of less than $50,000 and debts of between $100,000 to $500,000, and further estimated that funds would not be available for distribution to unsecured creditors. The company is led by President Ray Valois.

Maui Choppers was registered with the state in February of 2007, but filed articles of dissolution, also with the state, Sept. 16, according to state business registration records.

Barbie, ‘Cars 2’ toys drive up Mattel profits

NEW YORK » Toy maker Mattel Inc. said Friday that strong sales worldwide of its iconic Barbie dolls and "Cars 2" toys helped third-quarter net income rise nearly 6 percent.

Net income results matched Wall Street estimates but the company’s gross margin — the amount of each dollar of revenue that a company actually keeps — was pressured by higher costs and the strengthening U.S. dollar.

Results for Mattel, the largest U.S. toy company, offer a peek at what toy sales may be like during the crucial holiday shopping season from November through December.

For the three months ended Sept. 30, Mattel said net income rose to $300.8 million, or 86 cents a share, compared with $283.3 million or 77 cents a share, last year. Revenue rose 9 percent to nearly $2 billion from $1.83 billion a year ago.

Microsoft completes $8.5B Skype purchase

REDMOND, WASH. » Internet video chat service Skype is now officially a part of Microsoft. The two companies joined forces late Thursday when Microsoft Corp. completed its $8.5 billion purchase of Skype. The closing came five months after Microsoft announced the deal.

Microsoft is counting on Skype to help it catch up in some of the hottest markets in technology and media. Those areas include online socializing, mobile phones and digital video.

Skype’s roughly 170 million users made 207 billion minutes of voice and video calls last year — almost 400,000 years’ worth.

Google to kill Buzz, put social efforts on Plus

SAN JOSE, Calif. » Google is getting ready to press the mute button on Buzz, an online social networking service that turned into a massive faux pas. Buzz will be shut down within the next few weeks, according to a Friday post on Google Inc.’s blog.

The 20-month-old service probably will not be missed. If anything, Buzz is destined to be remembered as Google’s botched attempt to build a social network to rival Facebook’s online hangout.

Google now is focusing its social networking efforts on Plus, a 31/2 month-old service that has been catching on quickly. Plus already has more than 40 million users, and Google CEO Larry Page seems confident that it will become an effective weapon for fighting the threat posed by Facebook and its audience of 800 million users.

ON THE MOVE

Bank of Hawaii has named two senior vice presidents:

» Anthony B. DeSanctis has joined the bank as senior vice president and card product manager in the retail banking department. He is responsible for credit, debit and other card-based payment products. Before joining the bank, DeSanctis was a transformation executive and held a number of card marketing positions at Bank of America and MBNA in Belfast, Maine.

» Ismael "Ish" Eustaquio has been promoted from vice president and West Oahu regional manager to senior vice president and in-store branch regional manager in the Hawaii branch division. He is responsible for the delivery of access, convenience and new customer acquisition for the 13 in-store branches in the state. Eustaquio joined the bank in 1997 as a branch manager and has held various management positions within the Hawaii branch division.