Letters to the Editor

To Rev. Bob Nakata and those who love the open spaces and rural character of the North Shore.
I grew up in Haleiwa on Paalaa Road. Like your group, I am a member of Livable Hawaii Kai Hui, who is trying to preserve the green open spaces of kamilo Nui Valley in East Honolulu. Recently, I was sorry to read that BJMailer's Pay is based on performance . So although she says she Malama I ka Aina, she and Kirk Belsby are for the Highest and best use of Kamilo Nui Valley. In the early 70s George Santos, a pig farmer, was kicked out from Kalama Valley for the highest and best use. But going back to Carr who won't go far. He is trying to entice New investors. When the Japanese real estate and stock market peaked in 1991, the Nikkei average hit a high of 40,000. After dropping below 10,000 it now stands at approximately 14,000. This is 16 years later and the average had not even gotten back to half its peak. Our U.S. Real estate bubble burst in late 2005. Will new investors invest when we are just starting to feel the effects of this recession we are in? Does Well Fargo know that the two lane highway for concrete trucks to travel to Turtle Bay is easy to block by activist crossing Kamehameha Highway? Delays cost money. I am sure they have a plan B to exit financing Turtle Bay. Also I wonder if both Credit Suisse and Wells Fargo are aware that when the waves are up at Waimea Bay that the highway is clogged. Should there be a fire at Turtle Bay, the fire trucks will be delayed. In addition, I wonder if both these banks know that tourism is the number one industry in Hawaii and they come by jet planes. Oil price is over $130 a barrel, airlines are going bankrupt, thus airline ticket prices will go up And as the economist say in econ 101, the elasticity of demand for travel is elastic. Travelers that had discretionary funds but now are unemployed, will not be taking that Hawaiian vacation. Are there enough people with euros, yuans and wons to take up the slack of declining tourist from Japan, Canada and the mainland? As tourism declines, who will be filling up the new 3,500 hotel rooms? I guess Credit Suissee and Well Fargo with their many Harvard and Stanford grads with their PHDs in finance know something we don't know? The saying is buy when no one wants it. Would Donald Trump or Warren Buffett consider this as a good long term investment now? By the way, Stanford Carr is teamed up with Herbert Horita whos fortune went the way of the Nikkei. Will unemployed Aloha Airline employees buy into the Royal Kunia? Reverend Nakata, please continue to fight to save the rural nature of the North Shore.
Aloha, Tai Hong - North Shore

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