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Posted: Tuesday, December 4th, 2012 9:09 AM HST

Company execs paid big salaries

By Associated Press

HILO, Hawaii (AP) Court filing show that Big Island Carbon LLC's two top executives were paid large salaries.

West Hawaii Today says Chief Executive Officer Rick Vidgen was paid $184,000 and Operating Officer Fred Baker got even more $240,000. Both also received tens of thousands of dollars in expense money. Together, the two were paid almost one-half million dollars in salary and expenses last year.

A third Big Island Carbon executive, Controller Gerald Gruber, received $130,000.

The bankrupt company received $50 million in private venture capital money. It also received a $5 million federal loan in 2010 from the American Recovery and Reinvestment Act.

The Kawaihae factory was created in 2009 to convert macadamia nut shells into granular activated carbon. It filed for bankruptcy protection Nov. 5.

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