Hawaii is the unintended loser in the Class Warfare Front. This article details that since attacking companies for conventions and travel, thousands of room nights have been cancelled in the island state. In the article even the administration admits this was an unintended consequence not aimed at companies who do not receive government money. Really, but the government will not let companies give the money back, at least not until after undergoing various stress tests.
This is all about increased government control of the economy. The Administration wants to decrease this so called gap between who they perceive as rich and those who are not. Interestingly this idea has been extended to business but not to musicians, movie stars, or professional athletes. But don't those groups depend on business for their promotion?
The final irony of course is that President Obama is from Hawaii. Some favorite son, eh?
Las Vegas in a near financial ruin. The 75-80% occupancy rates are about or just above break even in my estimation. Another downturn, read this fall, will severely test the staying power of the tourism industry.
Professor Elam 
Leave a comment