NEW YORK — Results from Macy’s, Kohl’s and Gap on Thursday further underscored the cloudy picture for U.S. retailers heading into the start of the holiday season.
This week we continue to focus on the City and County of Honolulu, where efforts are under way to deal with the highly backlogged state of affairs at our Department of Planning and Permitting. As we’ve previously reported, a 2020 City audit (Report No. 20-01) (Exhibit 4.3) found that a typical residential building permit application took 108 days to process, while one for a commercial project ($1 – $10 million) took 432 days. That is a very long time to be just waiting for a permit.
One of the ideas that has been kicking around in the state and county legislatures for a couple of years now is the idea of an “empty homes tax.” The idea seems to be gaining steam now since our federal court has struck down Honolulu’s recent ordinance clamping down on transient vacation rentals.
DETROIT — Consumers who can find an electric vehicle or plug-in hybrid that qualifies for the $7,500 tax credit now may want to snap it up before the end of the year, experts say, while others wanting to purchase EVs that aren’t eligible might be better off waiting until 2023.
I’m sometimes asked how we can achieve true fiscal reform here in the Aloha State. It’s easy to imagine an end goal, with government spending within its means and with no gargantuan liabilities (the big two are the State’s defined benefit pension plan and the EUTF health system for state retirees) hanging over our heads like swords of Damocles. But to know which direction we need to travel, we need to know where we are now. This, unfortunately, is a big problem.
Exxon Mobil Corp. and Chevron Corp. amassed more than $30 billion in combined net income as politicians blast Big Oil for raking in massive profits at a time when consumers are struggling with soaring inflation and energy shortages worldwide.
This week, we focus on a study that has just come out of the national Tax Foundation (with whom the Tax Foundation of Hawaii shares a name but not much else). That study looks at IRS and census data to see if tax considerations affect people’s decisions to move from one state and to another.
NEW YORK — Small businesses are stocking the shelves early this holiday season and waiting to see how many gifts inflation-weary shoppers feel like giving.
BAKERSFIELD, Calif. — A California judge has ruled in favor of a bakery owner who refused to make wedding cakes for a same-sex couple because it violated her Christian beliefs.
Arnold Martines, a Big Island native, has been promoted to president and CEO of Central Pacific Bank, one of the largest banks in Hawaii.
The U.S. Food and Drug Administration has proposed a new definition for what constitutes “healthy” food, taking a more holistic look at nutrition and food groups instead of focusing solely on a few vitamins, minerals and nutrients.
Here in Hawaii, we have weathered a major pandemic. The primary driver of our economy is, and has been for a long time, tourism. Tourism was in the toilet during the pandemic, with our Governor going so far as to publicly urge tourists to stay home or go somewhere else. Now, with the brunt of the pandemic apparently past us and tourism levels back up to pre-pandemic levels, and with bazillions of federal dollars coming in to prop up our teetering economy, you would think we would be in reasonable shape financially, right?
WASHINGTON — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains and ensuring that the Federal Reserve will keep raising interest rates aggressively.
If the squabbling ever stops over Elon Musk’s renewed bid to buy Twitter, experts say he still faces a huge obstacle to closing the $44 billion deal: Keeping his financing in place.
Sean Nyberg is a professional investor who has been keeping track of the rising cost of attending Disneyland Resort’s annual Halloween celebration.
Tensions are brewing at work between employees who have returned to the office and those who’ve continued to work from home, according to a survey of U.S. workers.