The sale of bonds wasn’t all that

State officials made a huge deal this week about selling $867 million in bonds at the lowest rate in state history.

But, hey, interest rates are low all over the place — the official Federal Reserve discount rate is a mere 0.75 percent — so the state having to pay 2.6 percent for the loan is nice but not amazing. Moreover, the state’s bond rating is still Aa2, down from Aa1 in May 2011, when bond-rating agency Moody’s got spooked by the state’s financial condition.

Gov. Neil Abercrombie said the latest bond sale showed that the state is on the right fiscal path. Yes, parts of the local economy have been looking better, plus some of the proceeds will refinance older, higher-rate loans. And, at least the state’s credit rating didn’t go down again.

But more debt is still more debt, and it was less than inspiring to hear the governor also talk about "pent-up demand for state spending" while his tax director mentioned possible revenue enhancements (i.e. more taxes).

The proof of improved state finances will be when Moody’s restores the state’s bond rating to Aa1.

A good economy lifts all our planes

One of the signs of better times in Hawaii is the success of Hawaiian Airlines, which this week interviewed people for 240 flight attendant positions, partly to help it cope with its new flights to Taipei.

The company already has hired 500 new employees this year; the 240 new openings will be among the 500 more it plans to add next year. Its total right now is about 4,800, the most in its history. Too bad it can’t hire all 2,600 of the people who applied for the latest openings, but, still, that’s 240 individuals who will be getting back to work.