BUSINESS BRIEFS
State tax revenues see 2.6% decline
Advertiser Staff
State tax revenues are down 2.6 percent from last year through the first five months of the fiscal year, according to the state Department of Taxation.
The decline is higher than estimated by the state Council on Revenues, which projected a 0.5 percent drop through the fiscal year, and could force the state to make more spending cuts.
Gov. Linda Lingle is expected to release her two-year budget proposal on Monday.
The state reported that general excise and use tax collections are down 6.6 percent through November compared with last year. Hotel room taxes are off 8.2 percent. Individual income tax collections are up 3.5 percent. And corporate income tax collections are up 8.7 percent.
ALOHA AIR CARGO OFFERING DISCOUNTS
Aloha Air Cargo is offering a 30-percent discount on all interisland express shipping for Hawai'i residents through Christmas Eve.Printable coupons are available online at www.AlohaAirCargo.com.
Packages can be shipped and picked up at all major airports. Overnight and same-day service is available depending on the time packages are dropped off.
Additionally, Aloha Air Cargo is offering a 50-percent discount to members of the Hawai'i Farm Bureau when shipping their locally grown or made-in-Hawai'i packaged products into Honolulu.
"Our extended hours include Christmas Eve — which means that gifts can be sent that night to arrive just in time on Christmas Day," said Mike Malik, president of Aloha Air Cargo.
KAHALA HOTEL EARNS 2 TRAVEL AWARDS
The Kahala Hotel & Resort won a 2008 Gold Key Award from Meetings & Conventions Magazine and a Pinnacle Award from Successful Meetings magazine.The awards come on the heels of the Smart Meetings' Platinum Choice Award the hotel received in November.
The hotel recently completed a $50 million renovation of all of its guest rooms and more than 11,500 square feet of meeting space.
"These refreshed spaces, an ideal beachfront location in Honolulu and our staff's dedicated service exemplify why The Kahala continues to be the perfect place for meetings and groups," said John Blanco, the managing director at The Kahala.
KB TOYS GETS LIQUIDATION GO-AHEAD
A Delaware bankruptcy judge yesterday authorized KB Toys to begin going-out-of-business sales. Judge Kevin Carey granted the company's request after attorneys said they had resolved several concerns of landlords and creditors about rent and other issues.The Pittsfield, Mass.-based company plans to start liquidation sales today, with a targeted end date of Feb. 9. "I can see no better, other alternative," the judge said. "We're at a time of year where unless the going-out-of-business sales go forward now, there's hardly any sense in doing it."
In Hawai'i, KB Toys has stores in Windward Mall and Kahala Mall on O'ahu, the Queen Ka'ahumanu Center in Kahului, Maui, and the Prince Kuhio Plaza in Hilo.
Joseph McLeish of Gordon Brothers Retail Partners, which is working with KB Toys on the liquidation plan, told the court that the remaining shopping days between now and Christmas will be critical.
"We have a very finite period to liquidate this inventory... The amount of business done between now and Dec. 24 is absolutely critical to the success of the sale," McLeish said.
