Economic Forecast

We thank Rick Smith for sponsoring the recent Brokers Open and his report on the economic forcast. Click the link to view the report.

Mahalo, The Hansens

The panel that oversees spending of federal economic stimulus funds is set to discuss how dollars for health care and parks have been spent.The Legislative Federal Economic Stimulus Program Oversight Commission will convene today at 10 a.m. at the state Capitol.

It will focus on how funds distributed to the state in conjunction with the National Park Service and the Hawaii Primary Care Association have been used.

The panel has already held several meetings and has more scheduled after today.

A subsidiary of a Boston-based wind power company is seeking to build what would be its third wind farm in Hawaii.Kawailoa LLC, a subsidiary of First Wind LLC, is proposing to build a new wind turbine facility on land at the former Kawailoa Plantation on Oahu’s North Shore.

The company currently operates a wind farm on Maui and is building one in Kahuku.

Kawailoa is proposing the construction of up to 43 wind turbine generators and support facilities on state-owned land.

Officials say power from the facility would produce 70 megawatts of electricity capable of providing power to 15,000 homes by 2012.

CNN REPORTED TODAY the following cities have experienced a rise in sales prices over the past year:

 San Francisco – San Diego – Los Angerles – Washington

Humm, things are looking up!

Hawaii’s largest telephone company says it expects to emerge from bankruptcy in 30 days.Hawaiian Telcom made the statement Thursday when announcing its reorganization plan has been approved by the state Public Utilities Commission.

The company says it must now finalize agreements and documents that are necessary to exit Chapter 11. It filed for bankruptcy protection in December 2008.

In June 2009, Hawaiian Telcom filed a reorganization plan that it says reduced its debt from $1.1 billion to $300 million.

U.S. Bankruptcy Court orally confirmed the plan last November and issued its written confirmation Dec. 30.