Japanese stocks plummet

Japan’s shares tumbled today, with the Topix index suffering its worst two-day decline since records began in 1949, as concern grew about the safety of nuclear plants damaged by the country’s worst earthquake on record. The Nikkei 225 Stock Average fell 12 percent to 8,455.1 as of 1:36 p.m. in Tokyo, the lowest since April 2009, according to data compiled by Bloomberg. The broader Topix index declined 12 percent to 748.43, set for the lowest close since March 2009.

Electric vehicles promoted at show

Hawaiian Electric Co. Inc. is making an electric vehicle push at the 2011 First Hawaiian International Auto Show March 18-20 at the Hawaii Convention Center.

The utility is partnering with the Hawaii Automobile Dealers Association for the second year in a row and will be on hand to explain HECO’s discount rates for electric vehicle charging and support for making the state ready for the latest in green technology.

Representatives also will be available from the following companies:

» Plug-in America, a national grass-roots electric vehicle organization
» Electric Vehicle Association of Hawaii
» Blue Planet Foundation, a Hawaii-based organization that aims to end the use of fossil fuels
» Better Place, a global provider of electric vehicle networks and services
» AeroVironment, Coulomb Technologies and Volta, local and national electric vehicle charge station providers

Alternative fuel vehicles on display will include the Chevrolet Volt, Nissan Leaf, Honda CR-Z Hybrid Kia Optima Hybrid, Lexus CT 200h, Mitsubishi i, Toyota Plug-in-Prius, Toyota Prius V and Toyota Rav4 EV.

Environmental groups to share $5K

Patagonia Honolulu is donating $5,000 to three local environmental groups that have done an "extraordinary" job in restoring and protecting the planet.

The company launched the Patagonia Voice Your Choice campaign from March 10-31, and is asking the community to vote for the environmental organization that has made the most impact.

The groups nominated are Kakoo Oiwi, a community-based nonprofit organization that is restoring fallow land in Heeia into working agriculture; Paepae O Heeia, which manages and maintains the ancient Heeia Fishpond; and Kai Makana, which educates the public to preserve marine life and the ocean environment.

Winners receive $2,500 for first place, $1,500 for second place and $1,000 for third place.

UPS chairman got $9.5M in 2010

NEW YORK » The chairman and chief executive of United Parcel Service Inc. received total compensation last year valued at $9.5 million, a 73 percent jump from 2009, according to an analysis by The Associated Press.

Scott Davis, 58, received a base salary of $1 million in 2010, the same as the year before, according to a filing yesterday with the Securities and Exchange Commission. The bulk of his compensation, though, was in the form of stock awards. Davis’ stock was worth about $7.8 million at the end of last year, more than double the $3.9 million his shares were worth at the end of 2009.

Corning CEO’s pay rose 19.6%

CORNING, N.Y. » The chief executive and chairman of Corning Inc. saw his pay package rise by 19.6 percent last year, as the specialty glassmaker benefited from surging demand for ultra-thin glass used in television monitors, smart phones and touch-screen tablets.

Wendell Weeks, 51, received total compensation valued at $9.35 million in 2010, up from $7.82 million the previous year, according to an Associated Press analysis of a proxy statement filed yesterday.

On the Move

Proservice of Hawaii has promoted Krista Matto to director of project management from business intelligence manager. She will be responsible for overseeing cross-functional teams and company-wide projects as well as annual project planning and resource leveling across the IT and operations departments.

First Hawaiian Bank has announced the promotion of the following bank officers:

» Jeff Higashi to senior vice president and division manager from senior vice president and team leader, Corporate Banking Division.

» Todd T. Nitta to senior vice president from vice president, Dealer Center Division.

» Michael Tottori to senior vice president from vice president, Wealth Advisory Division.

» Wesley Wakamura to senior vice president and business banking officer from vice president, Kapiolani Banking Region.