Letters – 08|06

What our readers have to say

KEEPING IT COUNTRY

Mahalo to Hawaii’s elder statesman (Former Gov. Ariyoshi’s “Leadership Lessons” June 2006) for being the voice of reason in today’s development frenzy. Hawaii’s coastline and agricultural inheritance particularly are under siege. The onslaught of ever-growing capital venture groups, which have no long-term interest in our island’s future, are using their super-fund capital to make quick investment returns for their clients. “It takes money to make money” is working over-time right now.

I see Hawaii as Singapore twenty years ago. In its haste to “progress”, so much of Singapore’s historical and natural ambience was cemented over. Fortunately, Singapore remains the world’s busiest port in the world and a thriving cosmopolitan business center of Asia. Tourism is not its main menu. Many Singaporeans today can only dream of open spaces or travel out of Singapore to satisfy that yearning. It’s hard to find heart, soul and a sense of place in a concrete jungle.

George R. Ariyoshi

Since December of 2005, residents of North Shore, Ko’olauloa, Windward have been telling Oaktree Capital Group, owner of Turtle Bay Resort (Kuilima), that the communities must have the right to re-examine the 20 year old expansion plan. We have yet to receive a simple hand-out of their repetitive 15 minutes community power-point presentations. The public’s loud cries for more dialogue have fallen on deaf ears. We have many questions and too few answers about this expansion that will irretrievably alter the landscape of historic Kahuku. Two lawsuits had to be filed against Turtle Bay Resort/Kuilima Development Company, the City and County of Honolulu, and the Director of Planning and Permitting, Mr. Henry Eng, in order for concerned citizens to be acknowledged and heard.

The frustration with the city administration is mounting. Public sentiment to preserve what is left of our rural Windward and North Shore is snowballing. Many observers of Oaktree Capital Venture Fund are of the opinion that by simply activating these permits will greatly increase the portfolio value of Turtle Bay Resort , which will be sold to another party. Oaktree’s investment record in Hawaii has been very short-term. It has a very profitable record of turning ugly ducklings into swans and cashing in, in very short order. We wish them well but we, the people just do want our rural Oahu to be the casualty.

This issue has touched the sensibilities of island leaders and residents across party lines and from all walks of life. Please log into DefendOahuCoalition.org to join this island-wide group of citizens. We don’t have lobbyists, consultants, and PR gurus to ramrod corporate agenda at the State Capitol and Honolulu Hale. But we have the votes.

We are not anti-development. We are not “ornery rich haoles” that corporate lobbyists want to make us out to be. We say power to developers like Donald Trump and the likes who desire “to setting a new standard for luxury in Waikiki” and to help Waikiki Beach become one of the most recognized resort destinations in the world.

But we also say, “Don’t sell out our island’s finite inheritance of ocean, agricultural land, and quality of life to the highest bidder.” We must make wise and bold decisions that future generations will thank us, not curse us. Certain parts of our island must be off-limits to massive development. It’s sheer economic suicide to cement the island’s rural golden goose.

Governor Ariyoshi’s comments could not be any more reasonable and plain. He says: “We need more thinking, more discussion and more planning. Otherwise, we will continue to drift from project to project, and, incrementally, we will lose what we hold most dear about Hawaii.”

Choon James
Laie, Hawaii
Via e-mail

We thank you for your excellent piece covering Hawaii’s Top Financial Advisors (February 2006) which included Gwen Pacarro, Senior Vice President of Morgan Stanley, on the cover.

We wish to follow this with the announcement that this past weekend Gwen was selected in Barron’s Magazine as one of the top 100 female brokers in the entire nation. She was the only one representing the State of Hawaii.

Gwen attributes her success to the members of the Pacarro Group, which was developed to provide comprehensive wealth management. She is currently Chair of The Women’s Fund of Hawaii, a board member of the Children’s Alliance of Hawaii as well as a member of the Board of Governors of the Pacific Club. She formerly served on the Board of the Community Foundation of Hawaii and is involved as a consultant to the Contemporary Arts Museum in Makiki.

Paul C.T. Loo
Executive Director
Complex Manager, Hawaii
Morgan Stanley
Via letter

LETTERS TO THE EDITOR MAY BE SENT TO: Address: Hawaii Business 1000 Bishop St., Ste. 405 Honolulu, HI 96813 Fax: (808) 537-6455 e-mail: hbeditorial@pacificbasin.net All letters to the editor must include the writer's name, address (at least city or town, and state) and daytime and evening phone numbers. Writers should also disclose any relationship with the subject of their letter. We reserve the right to edit letters for clarity and space and to use them in all electronic and print editions of Hawaii Business.

Do you like what you read? Subscribe to Hawaii Business Magazine »