Reported by Star-Bulletin staff & wire
Tuesday, March 9, 1999
State tax revenues fell in February
State tax revenues for last month plummeted 7.8 percent, or $18 million, when compared with February 1998, according to tax figures released today. This means that, with four months remaining in the fiscal year, the total tax revenues collected for the general fund was only 0.9 percent, or $16.6 million, more when compared with the same period in fiscal 1998.The Council on Revenues is scheduled to meet Thursday to determine whether it should keep the panel's revenue forecast at 1.0 percent. During a workshop meeting last week, one council member, University of Hawaii Associate Professor of Economics Carl Bonham, raised the idea of perhaps lowering the growth projection to 0.5 percent. The panel also is expected to reconsider its minus 1.6 percent forecast for the next fiscal year. The council's projections are used by the Legislature in shaping the state budget.
Starr Seigle plans to expand to Guam
The Hawaii advertising, public relations and marketing firm Starr Seigle Communications said it will open an office in Guam April 1. The business, called Starr Seigle McCombs Advertising, will be in Tumon Bay.
In other news . . .
ML Macadamia Orchards LP increased its quarterly cash distribution from 7.5 cents to 10 cents a share to be paid May 14 to shareholders of record March 31.
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