Reg Baker’s Report from Washington DC

Reg Baker’s Report from Washington DC

Small Business Administration

Regulatory Fairness Board Annual Board Meeting August 2017


I just finished three days of providing testimony and participating in the national Small Business Administrations (SBA) Regulatory Fairness Board meeting.  We had 22 Board members from across the US attend and represent their states and regions.  I represented Hawaii and served as Chair of Region IX, which includes Hawaii, California, Arizona, Nevada, Guam and American Samoa. 

I coordinated the testimony provided by Keli’s Akina, CEO of the Grassroots Institute and OHA Trustee on the negative impact the Jones Act has on businesses nationwide.  I also provide testimony on behalf of the four Liquor Commissions in Hawaii (Oahu, Maui, Kauai and the Big Island) I regards to the challenges they and the states licensees were experiencing with the IRS tax clearance process.  The IRS was very responsive and the issue has been resolved (in less than 4 weeks).  We’ll have to wait and see what can be done about the Jones Act. 

During the Board meeting I had the opportunity to hear reports and speak directly with senior administrative officials of the SBA, ONO, DOL, CMS, OSHA and the IRS.  Below are some of the highlights:

  1. Over 300 rules and regulations negatively impacting small businesses have been identified for elimination.

  2. For every new regulation proposed two need to be identified for removal.

  3. The President’s Cabinet is currently focused on Tax Reform, Healthcare Costs and Infrastructure.   All of which will be approached with helping small businesses. 

  4. I have been asked to lead the efforts to explore collaboration opportunities with the AICPA (American Institute of CPA’s) and State CPA Societies to support small businesses nationwide. Contact has been made, the AICPA is very recitative and collaboration looks promising.

  5. Outreach to the small business community in Hawaii and throughout the US is being encouraged and will include the local SBA offices, Chamber of Commerces, Trade and Professional Groups and other interesed stakeholders. The SBA is aggressively looking for any rule or regulation that has a negative impact on small business.   Email me at for more information on how to offer a comment on a bad regulation and potentially get it fixed. 

  6. Loans and assistance to Veterans have been lagging in some Regions.  Renewed focus on supporting and assisting Veterans to start and be successful with their own businesses has been requested by the SBA Administrator. 

Overall, it was a very successful Board meeting and I am very encouraged that the President’s Administration will be working hard to address small business issues and assist these businesses to grow and thrive.    

Lauching CFO Services

I am launching a CFO service that allows any SMB (Small Mid-Sized Business) to afford a top notch and experienced CFO to assist with managing and growing their business.   These highly qualified CFO’s serve as business navigators and work on a “as needed” basis and priced accordingly.  Starting at just a few hundred dollars a month you can get the financial talent of large companies.  We can also train and coach your in-house CFO and help them reach a higher level of performance. 

Please take a look at and let me know what you think.

The Truth about the Vietnam War

This was forwarded to me from the Executive Director of the Hawaii Vietnam Veterans Association. 

This shameful act was well known by most of us serving in Vietnam.  Deeply embarrassing and difficult to accept. Many of our Vietnamese comrades and friends died as a result.   I suppose this act of desertion by Congress is why so many Vietnam Veterans had a hard time adjusting when they returned home.  We felt betrayed and lost confidence in congressional leadership.  That pain is still felt today. 

We All Need to Vote for OHA Trustee Candidate Akina

Please read the letter below from Keli'i Akina addressing the OHA Trustee election and why it is critical for everyone to vote for Akina.  Mahalo!!  Reg Baker


Dear Friends and Family,

In this General Election, it is vital everyone vote for OHA Trustees.

The only question is…

Will you vote for the same 'Old Guard' Trustees?
Dr. Keli`i Akina


Have wasted over $33 Million on pursuing a racially separatist, federally-recognized nation: i.e., Akaka Bill & Na`i Aupuni. (Source: See Footnote 1 below) 
Leads the charge to protect public and Hawaiian assets from being wasted on race-based nation-hood schemes.  The US Supreme Court case Akina v. State of Hawaii has resulted in the shutting down of Na`i Aupuni, a waste of funds the majority of Hawaiians have rejected.

Have ignored their own OHA surveys that show Hawaiians want OHA to spend on meeting real needs, not on political governance. (Footnote 2)
Will continue to fight so that OHA's wealth is spent on what Hawaiians really want and need: housing, education, jobs, and health-care, NOT on governance schemes.  

Have endangered the Hawaiian Trust Fund that, according to an OHA-commissioned audit, "will run out of funds" within a decade based on current spending.  Even after the audit, OHA has continued to squander money on junkets and connected insider projects. (Footnote 3)  
As one of Hawaii's leading watchdogs, Akina will continue to expose OHA's financial waste and mismanagement.  Akina will bring financial reform, transparency and public accountability to the OHA board.

Please pass this information on to others and consider contributing to our campaign at:



1.  Civil Beat:  "OHA Violates Trust Responsibility to Native Hawaiians," by Keli`i Akina, Aug. 2, 2016
2.  Hawaii Free Press:  "OHA Funds Voter Sentiment Survey to Help Incumbents," Aug. 17, 2016
3.  OHA - PKF Pacific Hawaii Report in HFP:  "PKF Report: OHA Will Run Out of Funds," Mar. 27, 2015

Keli'i Akina Interview

Keli'i Akina is running for Office of Hawaiian Affairs (IHA) Trustee at Large.  Change is needed and Mr. Akina can make that change happen.  All voters can and should vote for OHA Trustees.  OHA has the potential to make some very positive changes in Hawaii. Mr. Akina explains why this vote is so important to Hawaii, Hawaiians and all citizens who call Hawaii their home. 

Wealth Wednesday Coming!!

I've been asked to participate in a national broadcast called Wealth Wednesdays.  Collaborating with the American Institute of CPA's and the California Society of CPAs we will be broadcasting every Wednesday early in 2017 a program featuring the nation's top experts on wealth management. 

Wealth management is a subject I have spoken on, written articles for and practiced for over 20 years.  I was one of the first PFS's in Hawaii and was one of 13 CPA's nationwide that wrote the first PFS exam. 

Please check out this promo video of Wealth Wednesdays. My piece is at the end of the clip with Leonard Wright, the creator of Wealth Wednesdays.  Len and I used to do a Financial Fridays radio show based in Las Vegas and broadcast throughout the southwest.


Reg Baker Explains the P's to Sucess

I suppose many "mature" professionals have ambitions of writing a book.  I am no exception. Over the years I have learned and seen many ways to be successful.  For fun, I have tried to make a list of what I have learned using the letter "P" as the first letter of the lesson learned and the chapter.  I discuss some of those "P" in this video.

The Evolution of Obamacare

By - Reg Baker, Host of Business in Hawaii for Think Tech Hawaii

Ever since I was the COO and CFO for HMAA, one of Hawaii’s largest health insurance companies, I have been following the ACA aka Obamacare.

It was widely accepted in the healthcare industry that we did not need nor want the ACA.  This was especially true in Hawaii due to the Prepaid Healthcare act that was passed over 25 years ago.  Many felt that the ACA was just another step in the direction of nationalizing the healthcare industry, which has been proven to be a failure in every country that ever attempted nationalized healthcare. 

Flash forward to today and we find many of those earlier concerns are coming true.  Healthcare premiums continue to increase at double digit rates.  California just announced on Tuesday another 13% increase in premiums.  Hawaii has experienced similar rate increases and very large loses by our local medical insurance companies.  We already lost one local medical insurance company, Family Health, and the mainland has seen record high failures and consolidations.

The only way for smaller medial insurance companies to survive under the ACA is to merge with larger companies to obtain economies of scale and larger risk pools of customers.  This has been happening at an alarming rate and has caught the attention of the US Department of Justice.  This week, the DOJ announced they will be cracking down on these medical insurance mergers and acquisitions claiming that they are unacceptable.    

The US Healthcare industry was one of the best in the world.  We lead the world in setting the bar very high for quality of care, access to care, innovation, research and education.  It is so sad and very scary to see how the ACA has disrupted the best health care system in the world to one that is fighting to survive with record bankruptcies, record levels of mergers and consolidations resulting in dwindling medical insurance companies, physicians retiring faster than we can replace them because of the challenges current providers face and constant regulatory interference. 

If the plan of Obamacare, like many projected, was to create a single payer system, which is another word for nationalized healthcare, then we are clearly moving in that very scary direction.  Let’s hope that it is not too late to save the US healthcare system that was once the best the world had ever seen. 

HealthCare in Hawaii - Part 1

Senator/Dr. Josh Green and Reg Baker discuss healthcare in Hawaii and some national trends.  One very timely discuss is why healthcare costs so much.  Dr. Green and Reg touch on a variety of healthcare topics including costs, regulations, Obamacare (ACA) and much more.