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The Maui 10
Who's the county's most powerful player?
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April 10, 2008
NO POWER
 | | RANK | PREVIOUS | COMPANY | | 1 | 1 | Alexander & Baldwin | | 2 | 2 | Tesoro Hawai`i | | 3 | 3 | Monsanto Hawai`i | | 4 | 5 | Maui Land & Pineapple Co. | | 5 | 6 | Weinberg Foundation | | 6 | 7 | Dowling Co. | | 7 | 8 | Wailuku Water Co. | | 8 | 9 | Goodfellow Brothers | | 9 | 10 | Hawaiian Telcom | | 10 | 4 | Maui Electric Co. |
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You read that right, folks: MECO is now officially worse than Hawaiian Telcom. Is it really that surprising? All of Upcountry, Central and South Maui were blacked out on April 2 for reasons even our island's supposedly all-powerful utility couldn't explain. Apparently, MECO's Kihei substation failed because of a "flashover," whatever the hell that is, which then caused the Kahului plant to fail. It's not like there was a hurricane or tsunami or even a mere Kona storm, so what was the reason this time? Saltwater corrosion? High winds? Bird strikes? For the amount of money we MECO customers pay each and every month, we should at least get a good reason for our blackouts.
STOCKS
And Maui Land & Pine goes up a notch on news that their stock is now being publicly traded on the mighty New York Stock Exchange (the National League of stocks) as opposed to the American Stock Exchange (the Pacific Coast League of stocks). And on April 2, the first day of trading, MLP stock rose to $33.40 a share, which is good, though not nearly as good as the $37 a share price the company was getting last July. MTW
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