Business briefs - Hawaii Business

WASHINGTON>> After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of midsize and small businesses.

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The description of how the $90,000 agricultural grant to UH:

"will be used to help solve critical organic agriculture issues through the integration of research, education and extension projects..."

is PAINFULLY vague. It's just the kind of money that can evaporate away with little or no accountability.