OFFICE OF HAWAIIAN AFFAIRS STOCK PORTFOLIO PLUMMETS
Plunge Could Mean Cuts To Needy Hawaiians
The stock investment portfolio for the Office of Hawaiian Affairs shrank by 27.9 percent during the first 10 months of 2008, 12 percent during October alone.
The immediate impact is a hiring freeze, but the agency may be forced to cut money for programs in future budgets.
OHA is one of numerous multimillion-dollar agencies, organizations and businesses dealing with dramatic shifts in the stock market and the tough economic times that are forcing sweeping cutbacks.
