Stock markets around the world took a significant hit today . China was down 9% and markets in Europe and the US fell in sympathy and due to concerns over economic weakness.

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And there is a lot of it this morning! Durable goods orders, specifically for airplanes, fell 7.8% in January.

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Israel Kamakawiwo'ole, or as he is better know, IZ, left us too soon. But his music and attitude and Aloha live on. "Hawaii Aloha" is one of the islands' prettiest songs.

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According to the Department of Business, Economic Development and Tourism , the state economy in 2007 will look a lot like the state economy in 2006.

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This is a theme that we'll be certainly hearing more about here on Maui over the next several years.

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While we invariably get nervous when too many folks are too sanguine abut anything, the worldwide economy continues to perform very well.  According to today's Wall Street Journal:

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Along Maui’s oceanfront, the latest closing has been 1423 Front Street in Lahaina. This 3200 square foot home felt like it was right of old New England. The  property was originally listed for $5.2 million, most recently listed for $4.5 million and closed, after over a year on the market, for $4.2 million. At $1300 per square foot, this is the least expensive per square foot sale to close on the oceanfront this year.  The newest property on the market is 525 Hana Highway in Kuau. Sitting on a third of an an acre, this property consists of three residential condominiums which are currently rented on a vacation basis for $15,000 per month. Currently, nearly sixty oceanfront Maui homes are listed for sale. That number is slightly higher than it has been for several months.

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Today on MSN.com, one of the headline stories is about enjoying Maui's Romance. In the article they give some good advice, like the Road to Hana in a Mustang convertible, insuring one adopts "island time" and heading to the beach in the morning. We find nothing to quarrel with in any of that advice. But the authors make a claim that Homoa Beach in Hana is the island's most romantic. is it? Perhaps. Homoa is truly stunning. But other beaches on the Valley Isle, Big Beach, Kapalua Bay Beach, Secret Beach and Baldwin all deserve at least a mention! One of the many joys of Maui is that one can go to a different beach each day for a month and always have a spectacular day.

Sick of the airport, trying to park, finding transportation at the other end of your inter-island trip or just hate to fly? Well, another option is coming soon. The Hawaii Superferry is scheduled to commence service among Oahu, Kauai, the Big Island and Maui in July of this year. This diesel-powered catamaran will be roughly as long as a football field and half as wide. The ferry will transport people, automobiles, trucks and goods among the islands. Initially, the ferry will leave Kahului at 10:30 and arrive in Honolulu at 1:30. Fares can be found here. By 2009, there will be second ferry and a second round trip between Maui and Oahu.

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We didn't know that Maui Electric's generating plant in Ma'alaea uses biodoesel to start up and shut down its generators. Now the next step is taking place. A refining facility which will turn palm-oil into fuel for Maui Electric's generators is going to be built across from the Maui Landfill on Pulahu Road.

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