06-06-2014, 09:08 AM
There is no $800MM surplus , and there never was. It was an optimistic projection that didn't pan out and has since been corrected.
The biggest factor in the downturn we are about to experience is greed in the tourism industry. We had a couple of great tourism years after the recession, then hotels raised their rates until Hawaii was priced out of the travelors' affordability range. Now they're going elsewhere, all due to greed by mainland hotel operators. Given reasonable rates with a long term perspective, we could have enjoyed a long term healthy economy instead of boom-&-bust.
Kalakoa said it best- taxes will go up regardless of who wins.
The biggest factor in the downturn we are about to experience is greed in the tourism industry. We had a couple of great tourism years after the recession, then hotels raised their rates until Hawaii was priced out of the travelors' affordability range. Now they're going elsewhere, all due to greed by mainland hotel operators. Given reasonable rates with a long term perspective, we could have enjoyed a long term healthy economy instead of boom-&-bust.
Kalakoa said it best- taxes will go up regardless of who wins.