Cyanotech to boost astaxanthin output

Kona-based Cyanotech Corp., a producer of nutritional products from microalgae, said it will increase its production of astaxanthin by 33 percent to keep pace with rising sales.

Demand for the dietary supplement shot up after it was promoted on a cable television program called the "Dr. Oz Show," the company said. The supplement also is the subject of YouTube video.

"With our astaxanthin sales almost doubling since January, we have ramped up production and are realizing record yields month after month," said Brent Bailey, Cyanotech president and chief executive officer.

"In addition, we are adding 33 percent more astaxanthin capacity, which should be fully on line in six months," Bailey said. "We want to be sure we have capacity to fill the needs of all our customers in a timely manner, and be sure that all the consumers who want to try this exceptional nutrient can get it."

Cyanotech produces astaxanthin under the brand name BioAstin. Cynaotech also produces Hawaiian Spirulina Pacifica.

Cyanotech shares rose 5 cents to $3.94 Tuesday on the Nasdaq Stock Market.

Detroit union rejects Ford, UAW agreement

DETROIT » A local Ford Motor Co. union has rejected a contract agreement between the company and the United Auto Workers, indicating that Ford and the UAW could have a tough time getting some workers to accept the deal.

UAW Local 900, which represents workers at three plants outside Detroit, said Tuesday that 51.1 percent of its workers voted to reject the agreement. A total of 2,582 workers voted.

Ford and the UAW reached a tentative agreement on the four-year contract last week, but workers must ratify it. Local 900 was one of the first to vote on the agreement. More votes are scheduled later this week and into next week.

Under the agreement, most workers will get profit-sharing checks instead of annual raises. Workers also would get a $6,000 signing bonus and the promise of thousands of new jobs in U.S. plants through 2015. The contract promises a new shift with 1,400 workers for the Michigan Assembly Plant, which is represented by Local 900.

The agreement is more generous than the new contract for General Motors Co. workers, who approved their deal last month by a wide margin. Chrysler Group LLC and the UAW are still negotiating.

Dollar Thrifty ends takeover talks

TULSA, Okla. » Car rental company Dollar Thrifty Automotive Group Inc. is taking itself off the market after failing to get any acceptable takeover proposals from Hertz or anybody else.

Dollar Thrifty’s stock fell $1.21, or 2 percent, to close at $59.19 Tuesday.

Not too long ago Dollar Thrifty found itself being pursued by both Hertz Global Holdings Inc. and Avis Budget Group Inc. But Avis took itself out of the bidding in mid-September, leaving Hertz as the lone bidder.

Dollar Thrifty said Tuesday that it had given suitors until Monday to submit their "best and final" offers. It said in August that it needed a bid that would pass antitrust muster.

But the rental car company from Tulsa, Okla., said it did not receive any proposals meeting this criterion, so it will continue to run as a stand-alone company.

Alcoa’s third-quarter net misses forecasts

DALLAS » Alcoa got the earnings season off to a disappointing start. The aluminum producer on Tuesday reported third-quarter net income that fell far short of expectations. Concerns about a slowdown in the global economy pushed down prices for aluminum by 12 percent in the July-through-September period. That weighed on the company, which makes everything from soda cans to aluminum sheets for airplanes and cars.

Alcoa’s profit was $172 million, or 15 cents a share. While better than net income of $61 million, or 6 cents per share, a year earlier, the results were weaker than the second-quarter numbers and analysts’ forecasts of 22 cents. Revenue rose 21 percent to $6.42 billion. Analysts had expected $6.24 billion.

Zynga to move beyond Facebook platform

LOS ANGELES » Social games juggernaut Zynga Inc. has announced a slew of new products aimed at diversifying its business beyond Facebook and reaching even more consumers than the 142 million people who currently play its games.

In its first major announcement since declaring in July its intent to go public, the San Francisco company said Tuesday that it plans to launch a site separate from Facebook where players can congregate and play its games.

Dubbed "Project Z," the initiative is significant because it represents a major push by Zynga to divert players away from Facebook, whose 750 million active users have formed a rich pool of customers for Zynga. The new site would import players’ Facebook contacts so users won’t have to re-invite friends, officials said.

ON THE MOVE

The Japanese Cultural Center of Hawaii has appointed the following members to its board of directors: Dawn Matsuyama Dunbar, Dennis Esaki, Diane Mura­kami and Lynne Hanzawa O’Neill.

The National Association of Professional Women has named Arielle Faith Michael one of its "VIP Women of the Year" for 2011. She is a director of Holistic Care Services at North Hawaii Community Hospital. Michael was one of 207 recipients among 150,000 association members, and the only health care recipient in Hawaii.