BUSINESS BRIEFS
Feds ask for rule-reform advice
Advertiser Staff and News Services
The U.S. Small Business Administration's Office of Advocacy is asking business owners to identify federal rules that they believe are in need of reform.
The top 10 rules that are nominated by small business owners, trade associations and others will be sent to appropriate federal agencies for review and reform. The deadline to submit a recommendation under the "Regulatory Review and Reform" initiative is Dec. 31.
The Office of Advocacy said that complying with federal regulations costs the economy $1.1 trillion each year. The smallest of businesses bear the brunt of the business regulations and pay 45 percent more per employee to comply than big businesses, the office said.
For information, visit www.sba.gov/advo/r3, or call Keith Holman at (202) 205-6936. Nominations also can be sent to advocacy@sba.gov.
HOKU'S STOCK SALE PREARRANGED
The chairman, president and chief executive of Kapolei-based Hoku Scientific Inc. sold 100,000 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings.
In Form 4s filed with the SEC Wednesday, Dustin M. Shindo reported he sold the shares Monday for $7.73 to $8.35 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Hoku shares rose $1.85, or 21 percent, to close at $10.72 yesterday on the Nasdaq Stock Market. Hoku on Wednesday said it secured $185 million in financing for the construction and start-up of its new polysilicon plant in Idaho.
ALVING NAMED CHIEF OF TECHNOLOGY
Science Applications International Corp., a defense contractor with offices in Hawai'i, has promoted Amy E. Alving to chief technology officer.
Alving, a senior vice president who splits her time between SAIC's offices on the Mainland in Honolulu, will direct the the firm's Office of Technology.
Alving will coordinate the company's science and technology efforts, guide investments, and develop and recruit technical talent. She replaces Theoren P. Smith III, who died Sept. 27 after a long illness.
Alving joined SAIC in 2005 as the chief technology officer for the engineering, training and logistics group and was later promoted to chief scientist. Before joining SAIC, she served as the director of the special projects office at the federal Defense Advanced Research Projects Agency.
INVASIVE SPECIES ON AGENDA
Invasive species and agricultural issues will be the topic of the Governor's West Hawai'i Community Advisory Council meeting on Wednesday at 5:30 p.m. at Konawaena High School Cafeteria in Kealakekua.
The public is invited to listen to the State Department of Agriculture's Neil Reimer, plant pest control manager, who will address invasive species and other agricultural issues.
"The governor encourages the public to attend to share any concerns or suggestions they may have regarding these important issues facing the Big Island and our entire state," said Andy Smith, the governor's West Hawai'i liaison.
