Join Senator Brian Schatz on Saturday, June 1st, 2013 at the Grand Wailea Resort Hotel.  $250 per person.  Download ticket information HERE.

MAUI VICE-CHAIR: YUKI LEI SUGIMURA

SECRETARY: CANDACE SAKUGAWA-BAISA

TREASURER: LINDA PUPPOLO

VICE-CHAIR MEDIA/COMMUNICATIONS: STEPHANIE OHIGASHI

“My goal is to continue an open dialogue with my constituents so that I can hear from them on what I can do in Washington to better represent the people of Hawai‘i.  Whether it’s our oceans, fisheries, parks, health care facilities, or small businesses, I’m seeking input from the entire community on issues affecting them,” said Senator Brian Schatz.  “I’ve spent the last 90 days working towards concrete solutions to problems like sequestration, climate change, our nation’s budget and ways to increase tourism in Hawai‘i to grow our economy, and will continue to tackle these issues and others that are facing Hawai‘i today.”

Saturday, April 6, 2013 – Maui

Schatz will attend the Maui Agricultural Festival.

Visit to focus on maritime commerce, national security

Media Advisory for March 24 – 30, 2013: Congresswoman Tulsi Gabbard (HI-02) today announced the schedule for her upcoming visit to Hawai‘i next week. In addition to attending the events below, she will also meet with officials and constituents throughout the Second Congressional District to discuss issues related to her work in Congress.

DETAILS:

Sunday, March 24: Oahu

Day-of Contact: Nathan Miyake, (808) 291-9253

11:00 a.m.: Attend the “Legacy Lives On Celebration Banquet” honoring the 70^th Anniversary of the formation of the 442^nd Regimental Combat Team

Where: Hilton Hawaiian Village, Coral Ballroom
Monday, March 25: Kaua‘i and Maui

Day-of Contact: Amy Asselbaye (Kaua‘i), (808) 755-5814, Karey Oura Kapoi (Maui), (808) 755-5793

10:30 a.m.: Receive briefing at the Pacific Missile Range Facility Barking Sands

Where: Pacific Missile Range Facility, Kekaha

Note: Briefing is not open to press, but media availability will be held immediately following.

5:30 p.m.: Attend a meeting of the Maui Native Hawaiian Chamber of Commerce

Where: Maui Tropical Plantation

Wednesday, March 27: Oahu

Day-of Contact: Amy Asselbaye, (808) 755-5814

8:30 a.m.: Receive introductory briefing on the U.S. Army Corps of Engineers (USACE), Pacific Ocean Division (POD), and Honolulu Engineer District (POH)

Where: Fort Shafter

Note: Briefing is not open to press, but media availability will be held immediately following.

10:30 a.m.: Deliver keynote address to the 25^th Infantry Division Woman’s History Celebration

Where: Tropics Warrior Zone on Schofield Barracks

Note: Please contact the base PAO if you are interested in attending.

12:15 p.m.: Discuss priorities and needs for the future Wahiawa Community Health Center.

Where: Dot’s Restaurant, Wahiawa

2:00 p.m.: Attend the Hawai‘i Medal of Honor ceremony and present the medal to families of service members who have made the ultimate sacrifice

Where: Hawai‘i State Capitol

Thursday, March 28: Oahu

Day-of Contact: Amy Asselbaye, (808) 755-5814

9:00 a.m.: Waterfront Industry: Briefing and visit with Kewalo Shipyard and P&R Watertaxi

Where: Kewalo Shipyard

Note: Briefing is not open to press, but media availability will be held immediately following the 10:00 a.m. briefing.

10:00 a.m.: Waterfront Industry: Briefing and visit with NAVATEK, Pacific Shipyards International, and UNITEK

            Where: Pier 41, Honolulu Harbor

Note: Briefing is not open to press, but media availability will be held immediately following.

12:00 p.m.: Deliver keynote address to the 2013 Small Business and Veterans Forum

Where: Hale Koa Hotel

Friday, March 29: Oahu

Day-of Contact: Amy Asselbaye, (808) 755-5814

9:30 a.m.: Waterfront Industry: Briefing and visit with BAE Systems, Inc.

Where: Pearl Harbor Ship Repair Facility

Note: Briefing is not open to press, but media availability will be held immediately following the 11:00 a.m. briefing.

11:00 a.m.: Attend lunch with the Ship Repair Association of Hawai‘i

Where: Pearl Harbor

Note: Briefing is not open to press, but media availability will be held immediately following.

1:15 p.m.: Deliver remarks to the Navy Region Hawai‘i’s Women’s History Month leadership development seminar

            Where: Hickam Memorial Theatre, Joint Base Pearl Harbor-Hickam

Note: Please contact the base PAO if you are interested in attending.

2:00 p.m.: Visit Pearl Harbor Naval Shipyard and Intermediate Maintenance Facility

Where: Pearl Harbor Naval Shipyard

Note: Briefing is not open to press, but media availability will be held immediately following.

Saturday, March 30: Oahu

Day-of Contact: Amy Asselbaye, (808) 755-5814

10:00 a.m.: Host the Second Congressional District Art Competition Awards Ceremony

Where: Hawai‘i State Capitol

12:00 p.m.: Participate in service project to paint “green” homes

Where: 87-1720 Farrington Hwy., Wai‘anae, HI 96792

5:00 p.m.: Attend the 61^st Annual Cherry Blossom Festival

Where: Hawai‘i Convention Center, Kalakaua Ballroom, Level 4

I am running for election to the U.S. Senate because I know how critical the right voices in Washington are to Hawaii’s future.

I used my first few months in Congress to support the Violence Against Women Act and fight for legislation that protects struggling middle-class families. Those are the people that need our help most of all. Meanwhile, Republicans in Congress have played politics with irresponsible policies like the sequester and put Hawaii jobs at risk.

My work fighting for Hawaii’s middle class and supporting President Obama’s agenda is just getting started, but we have so much more to do. And just like the last election, I know that super PACs run by Karl Rove, the Koch Brothers, and others will spend millions to defeat Senate candidates across the country.

The congresswoman is expected to speak on economic and cultural issues impacting the lives of Native Hawaiians and the businesspeople of Maui.Gabbard is one of two female combat veterans serving in Congress and is the first Hindu and first female of Samoan ancestry. She sits on the House Foreign Affairs Subcommittee on Asia and Pacific and on the Homeland Security Subcommittee on Borders and Maritime Security.

The meeting is open to the public. Dinner is $20.

Those attending must RSVP by March 22 with Kai Pelayo by phone at 874-2426 or by email at kai.pelayo@grandwailea.com. For more information, call Katherine Smith at 268-0787 or go to the website www.mauihawaiianchamber.org.

What the Governor didn’t mention is that Republican Governor Lingle invested close to a $billion in state revenues in “securitized loans”. These were the semi-worthless fraud that the Wall Street banks perpetuated which brought down the U.S. economy.  In this case it was securitized student loans.  The 2008 crash resulted from the securitized housing loans.

Many savvy investers were dumbstruck when Gov Lingle bought the securitized loans because the schemes were already unraveling at that time and these were a dangerous investment at a time when the state was anticipating precipitous revenue declines because of the economic meltdown – again – caused by these very types of investments becoming worthless (or people REALIZING they were worthless).

So kudos to Gov. Abercrombie for getting at least a big chunk of our money back from these fraudulent securities.

NEWS RELEASE
   NEIL ABERCROMBIE
GOVERNOR

FOR IMMEDIATE RELEASE: March 4, 2013

HONOLULU – Gov. Neil Abercrombie today announced that the State of Hawaii and Citigroup Global Capital Markets, Inc. (CGMI) agreed to have CGMI purchase all of the state’s approximately $231 million remaining balance of the Student Loan Auction Rate Securities (Securities) at full face value. 

The state purchased the Securities from CGMI back in February 2008. The market for purchasing and selling these Securities subsequently collapsed as a result of the global financial crisis, thereby limiting the state’s ability to sell the Securities at full face value.  

Fortunately, the state sufficiently adjusted its investment portfolio and avoided having to sell the Securities for cash flow purposes during this period. In November 2010, the state and CGMI entered into a settlement agreement that required CGMI to purchase all outstanding amounts held by the state on June 2015. At that time, the state held approximately $869 million of these Securities. Since then, the Abercrombie Administration and CGMI have been actively reducing portions of the holding, ensuring that no loss of principal occurs. This balance represents the last holdings of the Securities as well as the largest portion to be settled.

“By working with CGMI, the State of Hawaii was able to sell, without incurring any loss, all of the Securities in an accelerated manner ahead of the originally agreed upon June 2015 date,” said Gov. Abercrombie.  

When the state purchased the Securities, they were rated “AAA,” which is the highest investment rating. While the state held the Securities, the state received all of the principal and interest payments due on the Securities.

“Our collaborative efforts with CGMI resulted in the state resolving this issue much earlier than provided in the settlement agreement,” said Finance Director Kalbert Young. “While this does not result in any additional new money to the state, it does allow us to strategically invest these funds to meet future obligations.”

Public Finance Managing Director and Co-Head Frank Chin said: “Citigroup is pleased to have worked closely with the Abercrombie Administration in the removal of all the auction rate securities from the state’s portfolio well ahead of the agreement schedule. We are proud of our longstanding relationship with, and commitment to, the state and are pleased to see this issue resolved.”