More bad news for Maui Land & Pineapple and CEO David Cole. Having already slashed its workforce and with debt now topping $100 million, ML&P is teetering on a dangerous precipice. Quoted in The Maui News, Cole said the situation is “keeping [him] awake at night.” Gee David—maybe you should take some of the $4.1 million in cash and stocks … [Read more...] about
Business End
A look at the week’s economic winners and losers…
Hawaii’s unemployment figures for September are in and, yep, the news isn’t good. Statewide, joblessness rose to 4.5 percent, up from 4.2 percent in August and 2.8 percent a year ago, according to the Department of Labor and Industrial Relations. In Maui County the jump was even more dramatic—from 4.7 percent in August to 5.5 percent in September. … [Read more...] about A look at the week’s economic winners and losers…
A look at the week’s economic winners and losers…
As we reported last week, numbers for the hotel industry remain bleak statewide, with occupancy and revenue way down and little relief in sight. Now comes word that the first, but quite possibly not last, hospitality casualty has occurred: Kihei’s Maui Lu Resort announced it’ll close its doors next month. The resort, which opened in 1962, will lay off 41 … [Read more...] about A look at the week’s economic winners and losers…
A look at the week’s economic winners and losers…
The arrow’s pointing up but this one’s debatable. As everyone including the oft-mentioned man under the rock knows by now, the House followed the Senate’s lead and passed the bailout bill version 2.0; Bush—eager for a photo op featuring him looking proactive and presidential rather than like a lame duck in the crosshairs—promptly signed the … [Read more...] about A look at the week’s economic winners and losers…
A look at this week’s economic winners and losers…
To help make sense of the economic crisis that’s dominating the headlines, we asked local CPA Doug Levin of Levin & Hu, LLP to weigh in… So how did we get into this mess? On a smaller scale this has been happening periodically for years. The problem this time is that the extent of the bad loans is so much greater. This is primarily due to three almost simultaneous changes in … [Read more...] about A look at this week’s economic winners and losers…