Reported by Star-Bulletin staff & wire
Tuesday, April 7, 1998
Isle economist predicts more of the same in '98
Bank of Hawaii's Chief Economist Paul Brewbaker said the state's economy this year will be "indistinguishable from recent years" with more of the same stagnation that has plagued the islands since the early 1990s.It will be "no growth, a mixed pattern of gains and losses across industries and another stagnant year for state government revenues," Brewbaker said in "Business Trends," the bank's economic report. The most relevant lesson for Pacific Island economies from the recent Asian financial chaos is "get your financial house in order," he said. "The roots of this crisis can be traced to economic mismanagement and fiscal excess."
SBA luncheon to honor local business people
The Small Business Administration's annual luncheon to recognize Hawaii's top small business operators and advocates for small business will be held May 21 in the Ilikai Hotel Nikko Waikiki. The luncheon, the eleventh such event for Hawaii, will honor 29 Hawaii award recipients. Hawaii's Small Business Person of the Year, to be announced at the meeting, will go to Washington for National Small Business Week events May 31 through June 6.For information about the $35 luncheon, call 541-2990.
Motorola shares drop as earnings disappoint
NEW YORK -- Current and projected earnings difficulties took a toll on Motorola Inc.'s stock today. In midday trading on the New York Stock Exchange, shares of the communications equipment and electronics giant fell $6.371/2, or 9 percent, at $53.50.Schaumburg, Ill.-based Motorola yesterday reported a 50 percent drop in first-quarter operating profit, and predicted its second-quarter revenue will fall below last year's levels partly because of Asia's financial crisis. Analysts are concerned over the company's economic outlook and its failure to detail restructuring plans.
See expanded coverage in today's Honolulu Star-Bulletin.
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