Money Matters - Hawaii News Now - KGMB and KHNL

October 6, 2008

Money Matters

A bit of money talk this week: bad news about the contract for the UH West Oahu campus financing falling apart, but the good news is that officials in charge here expect to be able to find another partner to replace the one who simply couldn't make it work in this tough fiscal storm.  There is certainly a vital need for opening a West Oahu campus sooner rather than later, so hopefully everyone involved in the necessary zoning changes will move that approval process along expeditiously while new financing is found.

A new bailout plan indicates that the key to success in America is to be so large that you become indispensable in some form, and the government will come in and salvage what it can.  It worked for Chrysler years ago, and now it appears to be working for numerous financial concerns.  Does this mean the Government would rescue giants like Google, Microsoft, or the New York Yankees if they went south?

Bankruptcy filings are more difficult nowadays than they were a few years ago.  Nonetheless, Hawaii's total number of companies filing for bankruptcy has already surpassed the 2007 total- with three months left in the year.  And keep in mind, every bankruptcy causes some form of disruption- of services, of jobs, of opportunities, of lives.  A sobering reminder that this economic downturn which is upon us might take some time, and everyone needs to mind their dollars and cents with common sense.  Think about it...

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