The following is an excerpt from a Maui Weekly article. I thought I would post it here because it is something that many are interested and wants to know. Below is the link to read the rest of the article:
Local economists share their predictions for the global, national and local economies at business outlook forum. “This too will pass” we will get through this.”
Despite the warm rays of sunshine outside, those seated within the Elleair Ballroom of the Maui Beach Hotel on Friday, Oct. 17, shivered at the chilling reality of an uncertain economic future. More than 100 residents spent the lunch hour at the 34th Annual Maui County Business Outlook Forum hosted by First Hawaiian Bank and the Maui Chamber of Commerce, seeking answers to the questions, “How bad is it?” and “How long will it last?” Despite the savory aroma of the Maui Beach Hotel’s famous butterfly shrimp, there were some who nervously anticipated the sting of a painful economic forecast in the wake of a turbulent housing crisis and the controversial billion-dollar Wall Street bailout. Hawai’i Pacific University Professor of Finance and Economics Leroy Laney and University of Hawai’i Professor of Business Economics Jack Suyderhoud each presented a summary of the 2008 economic slowdown, outlining the events leading up to it and potential outcomes. As he took the stage, Dr. Suyderhoud addressed the audience with an apologetic tone, admitting he wished he could have attended the luncheon under more sunny circumstances. However, he managed to brighten the mood by interjecting some humor into his presentation, effectively taking sour lemons and squeezing them into lemonade. We may be in a slump, he said, but it is important that we keep our chins up and focus on the positive. CONTINUE READING ON MAUI WEEKLY … HERE.