Big government a Hawaii tradition

Government accounted for 24 percent of Hawaii’s gross domestic product in 2008, up from 22 percent in 1998. And that doesn’t even count the $8 billion in annual defense spending that courses through the state; factor that in and you’re well above 50 percent.

Publication: Pacific Business News
Date of Publication: July 3, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/07/06/editorial1.html

Comments by Sachiko

Laney: Diverse economy helps Big Island

The Big Island’s diverse economy has enabled it to weather the recession better than the other Neighbor Islands, according to a new economic forecast.

Economist Leroy Laney said the Big Island is helped by the vastly different economies on the east and west sides of the island.

Publication: Pacific Business News
Date of Publication: September 23, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/09/21/daily23.html

Comments by Sachiko

Obama Signs Defense Bill, Hawaii Projects to Benefit

Trumpeting a victory against careless spending, President Barack Obama today signed a defense bill that kills some costly weapons projects and expands war efforts.

Publication: StarBulletin.com Headlines
Date of Publication: October 29, 2009
Article URL: http:/ / www.starbulletin.com/ r?19=961&43=356594&44=67029297&32=5799&7=395894&40=http%3A%2F%2Fwww.starbulletin.com%2Fnews%2Fbreaking%2FObama_signs_defense_bill_Hawaii_projects_to_benefit.html

Comments by Sachiko

According to the article, U.S. Rep. Neil Abercrombie, who attended the signing ceremony, said in a statement that the new law includes an initiative  to bring fairness to 43,000 federal employees in Hawaii, Alaska and the U.S. Territories. The initiative gives these employees parity with their mainland counterparts when it comes to computing retirement pensions.

Honolulu jobless rate up to 6.3% in September

Honolulu’s jobless rate was 6.3 percent in September, up from 6 percent in August, according to the latest data from the U.S. Bureau of Labor Statistics. The jobless rate was up from 4.1 percent in September 2008.

Publication: Pacific Business News
Date of Publication: October 29, 2009
Article URL: http:/ / pacific.bizjournals.com/ pacific/ stories/ 2009/ 10/ 26/ daily34.html

Comments by Sachiko

More statistics are available at U.S. Bureau of Labor Statistics at http://www.bls.gov/eag/eag.hi.htm.

The consensus was that commercial real estate sales, which plummeted in 2008, will drop further along with land prices and rents while office and retail vacancies will rise.

Publication: Pacific Business News
Date of Publication: January 23, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/01/26/story3.html

Comments by Sachiko

As the recession deepens, Hawaii is paying out unemployment benefits faster than planned but will still have enough money to cover jobless claims through the end of 2009.

But at the rate the money is being paid out, employers may have to give up the break they’ve been getting on the payroll tax since last year.

Publication: Pacific Business News
Date of Publication: January 16, 2009
Article URL: http://www.bizjournals.com/pacific/stories/2009/01/19/story1.html?b=1232341200^1763050

Comments by Sachiko

Hawaii hotel occupancy in November fell for the ninth consecutive month.

Compared to the same month in 2007, occupancy was down 9 percentage points to 63 percent.

Publication: Pacific Business News
Date of Publication: January 14, 2009
Article URL: http://pacific.bizjournals.com/pacific/stories/2009/01/12/daily37.html?surround=lfn

Comments by Sachiko

According to the article, Year to date through November, hotel occupancy was down 4.1 percentage points to 71.3 percent, while hotel revenue per available room declined $6.12 to $143.

A preliminary tally of filings at the U.S. Bankruptcy Court in Honolulu show there were 2,069 filings in 2008 as bankruptcies surged to a three-year high. In 2007 there were 1,381 filings.

Publication: Honolulu Advertiser
Date of Publication: January 1, 2009
Article URL: http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=2009901010328

Comments by Sachiko

Unfortunately the newness doesn't extend to Hawai'i's economy, which many expect will remain mired in a downturn through much of 2009.

Publication: Honolulu Advertiser
Date of Publication: January 1, 2009
Article URL: http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=2009901010358

Comments by Sachiko

According to the article, forecasts range from the Bank of Hawai'i's estimate of a 0.2 percent decline in visitor arrivals this year to the UH Economic Research Organization's 5.7 percent drop. Those projections translate into at least 6.4 million visitors next year.

For the Hawaii economy, 2008 was a year of closure. From airlines to restaurants, businesses we've known for years, closed forever. It wasn't until late in the year that a think tank told us we had been in recession all year. But...

Publication: KGMB9 CBS
Date of Publication: January 1, 2009
Article URL: http:/ / kgmb9.com/ main/ index.php?option=com_content&task=view&id=12839&Itemid=40

Comments by Sachiko