Showing posts with label bond finance. Show all posts
Showing posts with label bond finance. Show all posts

Monday, December 12, 2011

Hawaii Super PACs begin fundraising, Hirono-Case Senate campaign heats up, Honolulu enforces smoking ban, Supreme Court may hear Hawaiian preference lawsuit, Kilauea Volcano leaves last man standing, Hawaii bond critics fear negative arbitrage, more news from all the Hawaiian Islands

Congresswoman Mazie Hirono and Sen. Daniel Akaka courtesy photo
Rep. Mazie Hirono’s campaign for U.S. Senate is releasing the results of a new poll that shows the Democratic congresswoman with an 18-point lead over Democratic rival and former Congressman Ed Case. Civil Beat.

Former Congressman Ed Case: If Hirono Wins U.S. Senate Democratic Primary, Former GOP Gov. Lingle Will Beat Her. Hawaii Reporter.

Campaigns for next year's elections are getting under way and Hawaii is already seeing the formation of special political committees that can raise and spend unlimited amounts of campaign money. Civil Beat.

The U.S. Supreme Court could announce as early as today whether the justices will review a case that could produce a landmark ruling on the legality of government benefits to Native Hawaiians under the Constitution's equal protection clause. Star-Advertiser.

Within the first minutes of the new year, clergy and judges may register online to perform civil unions, and within a short time will be able to unite same-sex couples in a legal relationship that grants them the same rights as married couples for the first time in Hawaii. Star-Advertiser.

In less than a month, same-sex couples in Hawaii will become eligible for civil union status under a new law signed by Gov. Neil Abercrombie in February. Tribune-Herald.

Hawaii’s Hurricane Relief Fund and Rainy Day Fund are supposed to be tapped only in true emergencies, such as a tsunami or hurricane. Hawaii Reporter.

Hawaii’s media monopoly and the struggle for democracy. Hawaii Independent.

Go Mokulele is returning to normal schedule Monday, three days after its fleet was grounded. KHON2.

Google is spending several hundred million dollars to build a data center in Hong Kong and has plans to follow that up with two other Asian locations. Hawaii Public Radio.

State roundup for Dec. 12. Associated Press.

Oahu

More international visitor arrivals boosted occupancy and room rates on Oahu to near record levels for October as the performance of hotels statewide improved. Star-Advertiser.

For those hunkered down at the Occupy Hono­lulu encampment at the edge of Thomas Square, disenchantment with the direction in which government and corporate institutions have taken the world comes with an unwavering sense that their movement can improve the situation. Star-Advertiser.

For the first time in more than four years, a Honolulu police officer has issued tickets to bar patrons for breaking the statewide smoking ban. KITV4.

A plan that will serve as a guide to the state as it moves forward restoring Kawainui Marsh is starting to take shape. KITV4.

Before many of us were even up Sunday, thousands hit the road in the 39th annual Honolulu Marathon. KHON2.

Hyatt Hotels Corp. has opened the first of two towers at its new Hyatt Place Waikiki Beach hotel. Pacific Business News.

Hawaii

Jack Thompson, 61, is the last resident of Royal Gardens, the subdivision that has been inundated by lava since 1983. Tribune-Herald.

On Jan. 10, 1976, Allen Castro, 25, and Danny Robinson, 21, met for the first time. Love quickly blossomed. Tribune-Herald.

Maui

Severed fiber optics cable disrupts communication on Maui. KHON2.

Runoff from heavy rain has prompted state health officials to issue a Brown Water Advisory for Maui and the Big Island of Hawaii. Hawaii News Now.

Kauai

The state Department of Land and Natural Resources, Division of State Parks announced Friday it auctioned all of the 16 available recreational cabin lots in Koke‘e and Waimea Canyon state parks in the first scheduled tier of the auction held Thursday at the Kaua‘i War Memorial in Lihu‘e. Garden Island.

The earthquake and tsunami that rocked Fukushima Prefecture last March not only tragically devastated its small villages, it swept a legacy of junk into the Pacific Ocean. Garden Island.

Wednesday, May 18, 2011

Oahu taxes going up, Hawaii bureaucracy bloats, bond rating falls, don't feed the homeless, Hawaii council kills bus fares, Maui Memorial pays $1.2 million renting empty building, Ka'u land eyed for development, more news from all the islands

Honolulu homeless (c) 2011 All Hawaii News


Governor Abercrombie unveiled a 90-day plan to tackle the homeless problem, and it includes discouraging feeding people in parks or other public places. KHON2.

The Abercrombie administration gave itself 90 days yesterday to achieve a marked improvement in clearing homeless people from streets, beaches and parks in Waikiki and the rest of Honolulu's urban core. Star-Advertiser.

Governor Neil Abercrombie established citizen call-in numbers to identify, locate and provide assistance to homeless people in need last month. Hawaii Public Radio.

Only two of Hawaii's 20 state departments will have smaller operating budgets come July 1. The rest are growing — one by as much as 94 percent. Civil Beat.

Hawaii’s “strained” state financial operations, the depletion of reserves in fiscal year 2011, and covering budget shortfalls with one time solutions – these are the factors that Moody’s Investors Services used when downgrading Hawaii’s General Obligation Bond Rating for an estimated $5.1 billion in debt. Hawaii Reporter.

The cost of living for Oahu residents is likely to increase dramatically after the Honolulu City Council’s Budget Committee approved a property tax hike as well as a bevy of user fee increases. KHON2.

A Honolulu City Council committee on Tuesday approved for final vote of a residential tax rate of $3.50 per $1,000 of value. KITV4.

Looking to make a high priority of fixing Oahu's crumbling roads, the City Council Budget Committee restored $32 million to the mayor's construction project budget for roads yesterday. Star-Advertiser.

A deadlocked County Council on Tuesday put the brakes on a planned $1 bus fare, one of the moneymakers in Mayor Billy Kenoi's proposed budget. West Hawaii Today.

For more than two years, Maui Memorial Medical Center has been paying $600,000 per year to rent a 20,000-square-foot empty building next to the Kaiser Maui Lani Clinic on Maui Lani Parkway. Maui News.

The Hawaii County Band, open space land fund, golf programs, legislative auditor and various county operations are in the crosshairs of County Council members, who are scheduled to vote today on more than $12 million in cuts to the annual budget submitted by Mayor Billy Kenoi. West Hawaii Today.

Mayor Peter Carlisle would veto budget proposals for the planned rail transit authority that give the City Council final say on any spending decisions by the semiautonomous board, the administration said yesterday. Star-Advertiser.

Citing a possible conflict of interest, Kaua‘i County Councilman Dickie Chang has recused himself from voting on funds for the next two editions of the Kaua‘i Marathon. Garden Island.

Unity House Inc. received approval Tuesday from a Hawaii bankruptcy court judge to sell its Lotus at Diamond Head Hotel to Nobuka USA Inc. for $18.5 million. Pacific Business News.

The developer of a proposed 12,000-unit housing project in West Oahu will try again to win approval to move ahead with its plan. KITV4.

Tension resulting from local politics allegedly resulted in physical violence yesterday between an opponent and supporter of the Envision Laie development. Hawaii Independent.

Hawaii County has moved a step closer toward buying 27 acres of pristine Puna coastline. Tribune-Herald.

Kahuku land that was the center of an eight-year battle before the Land Use Commission as the proposed Hawaiian Riviera Resort is again being moved forward for development. West Hawaii Today.

The state this week expects to announce a partnership with federal agencies to help landowners and managers protect forest lands. Associated Press.

A record number of 15 students graduated from the University of Hawaii's law school with a Native Hawaiian Law Certificate this week. Associated Press.

Several weeks after the deal was made for UH Maui College-Molokai to purchase neighboring land from Molokai Properties Ltd., Governor Neil Abercrombie has released the funds to complete the acquisition. Molokai Dispatch.

Two people died when an light sport aircraft crashed off the North Shore of Kauai at about 10:53 a.m. Tuesday, according to the U.S. Coast Guard. Hawaii News Now.

Wednesday, February 18, 2009

Another day older and deeper in debt

It’s common, but usually not advisable, to want to max out your credit cards when times get tough.

The Hawaii Legislature is no exception, but the House Finance Committee is taking a cautious approach to bond debt at its hearing this afternoon.

A full slate of debt-related bills are being considered following last week’s grim financial news during a briefing by William Pound, executive director of the National Conference of State Legislatures.

The Legislature has no choice but to be cautious. The state constitution limits the amount of debt the state can undertake so that annual payments of principle and interest can’t exceed 18.5 percent of the average net General Fund revenues for the preceding three fiscal years.

The House, in HB 34, plans to set the stage to borrow $1.8 billion in general obligation bonds over the next three years – coincidentally the same amount economists have predicted the state will fall short in its General Fund budget over that period.

That amount will raise the state’s annual principle and interest payment just 10 percent, from $589.3 million to $648.7 million, between now and 2012, if the state borrows no more money in the meantime. Hawaii generally borrows using 20-year serial bonds, with payments on principle not kicking in until the fifth year.

Hawaii was ranked 11th in the nation in per capita debt in 2007 – with each man, woman and child in the state shouldering $4,665 in debt on the state’s behalf. That compares to $10,504 in Massachusetts, the highest state, and $674 in Tennessee, the lowest.

Hawaii ranks 13th in state debt as a percent of personal income, with debt representing 11.89 percent in 2007. Alaska, the highest state, has debt at 24.01 percent of personal income and Tennessee, the lowest state, has 2.02 percent.

Lawmakers hope borrowing more money for infrastructure will mean more federal stimulus money will come to Hawaii for needed projects.