Private-school books likely to cost more


POSTED: Friday, January 09, 2009

Private schools in Hawaii have been told they will have to find new textbook sources because a Honolulu company selling new and used textbooks is getting out of the business.

Ike Pono Ltd. of Honolulu has fallen victim to the Internet. Owner Mike McKay says textbooks available online cost less than what he pays to acquire them.

McKay also blames the credit crunch, saying his company's line of credit was canceled because he could not meet new, stricter requirements.

With Ike Pono getting out of the business March 31, McKay says private schools will likely have to find textbook vendors on the mainland. He says the change could increase costs to parents.

Although the company is closing its warehouse, it will continue to sell teacher supplies through catalogs.