INVERSION

LET'S WATCH THIS MONEY CLOSELY,,,,SHALL WE

6969696969696



By Greg Wiles
Advertiser Staff Writer





Posted on: Friday, September 12, 2008
State will borrow $619.4M to boost public construction

,,,,,,,,,,


The state's budget had a surplus of nearly $500 million at the end of fiscal year 2007 but faces a shortfall of $162.3 million by the end of the 2009 fiscal year that could grow to a deficit of more than $900 million by the end of 2011, according to the state Budget Department. In an executive memo, Lingle said "immediate action must be taken to control and reduce government expenditures," starting with the 2009 fiscal year.

,,,,,,,,,,


Posted on: Wednesday, September 17, 2008
By Greg Wiles
Advertiser Staff Writer

State pension system's assets down by $600M
!


The Hawai'i Employees' Retirement System's assets declined by roughly $600 million during the first 15 days of September as worries about the economy and the financial health of investment banks roiled Wall Street.


Rod June, chief investment officer for the pension plan serving state and county workers, said assets declined from about $10.8 billion at the end of August to $10.2 billion yesterday morning.


,,,,,,,,,,



By Alexandre Da Silva
adasilva@starbulletin.com

Thursday, September 18, 2008
Gov. Linda Lingle's administration has forecast Hawaii could be $903 million in the red by fiscal 2011 unless the state tightens its belt.



"Given the magnitude of this level of revenue reduction, immediate action must be taken to control and reduce government expenditures, starting with (fiscal year 2009)," Lingle wrote.

Linda Smith, Lingle's senior policy adviser, said the changes in the revenue projections have resulted in an estimated loss of $2.8 billion in expected revenue.