Last Thursday, the story hit that Maui County was suing Merrill Lynch. The County’s primary complaint is that a $32 million dollar investment in Auction Rate Securities (ARS) was recommended by Merrill when the firm knew those investments were on shaky ground. Buried deep in a February 18 Maui News story was a notation that the State of Hawaii has “almost a billion” dollars in … [Read more...] about Examining the Maui County Lawsuit Against Merrill Lynch
The Hidden Cost of Bargain Travel Sites
In the last year, the major online travel sites have all dramatically changed the way they work. Unfortunately this change is having a very negative effect on the local economy, deeply cutting into our already already-shaky hotels and perhaps affecting their long-term viability. This is not good for Maui, and you should know about it. Before I can explain, you need to know how … [Read more...] about The Hidden Cost of Bargain Travel Sites
New Year New Tax Rules
Everyone’s tight for money, and that includes our beloved state. A publicized but still little-known change went into effect for businesses last July: all General Excise and Transient Accommodation Tax returns are now due on the 20th instead of the end of the month. Although this doesn't raise any more money it gave the appearance to our state legislators of speeding up tax … [Read more...] about New Year New Tax Rules
Revisiting the Visitor Industry, part one
Ed. Note: This is the first in a series of pieces that will examine the visitor industry and the future of the island’s economy. Maui tourism is down—way down. Unless you’ve been living under a rock, you already know that. For the first quarter, visitor arrivals declined more than 22 percent from last year, which was also down from the year before. Over the last two years, … [Read more...] about Revisiting the Visitor Industry, part one
House Warming
Owning a home. Like having children, it is both one of the most inspirational and confining steps a person can take. Take today for example. As I sit here working on this week’s piece about home ownership, I’m almost overwhelmed with the list of things that need to be done around here. (Oh well, they’re not happening today). Yet at the same time there is a sense of … [Read more...] about House Warming