Letters to the Editor

Join together to create North Shore dream
Our governor has a desire to put together a plan to purchase Turtle Bay/Oaktree Capital's property. Kudos to her for seeing potential where others see a lost cause. It's not too late. Rather than create a negative climate surrounding that plan, let's foster support and get creative to help further this vision along. There are many ways to accomplish this goal by creating partnerships and gathering together like-minded individuals who know how to succeed. The victories at Waimea Valley and Pupukea/Paumalu continue to inspire and empower us. Let's be positive and do all we can to "Keep the Country COUNTRY."
Katye Killebrew - Honolulu

TURTLE BAY IN OUR INTEREST TO KEEP NORTH SHORE PRISTINE
The idea to preserve Turtle Bay area is phenomenal.
I am a longtime North Shore resident and this sounds great. The North Shore is already showing signs of pollution and is getting more and more abused and looking less and less beautiful. The traffic is horrendous even now. The ocean is getting polluted and the beaches don't look as nice as before. There is trash on the beaches. The entire North Shore should be limited and frozen to development. Most tourists that I talk to on the North Shore have escaped from Waikiki because they think it is crazy — too busy, too loud, too artificial. They got that at home and are looking for something relaxing instead. So, keep North Shore pretty, keep it pristine, keep it quaint.
The bottom line is that's what we sell here in Hawai'i: a more sane, natural lifestyle, in a pristine environment. It is in our best interest to keep our environment pristine and our lifestyle simple and natural. Nobody else has that — so they will pay big bucks to come here to experience it.
Milica Barjaktarovic - Waialua

PROPERTY WORTH WHAT BUYER WILLING TO PAY
Since when is a property worth significantly more than the value sought in a foreclosure? If $283 million, or even $400 million, were the true value of the Turtle Bay Resort, why aren't savvy businesses lining up to take advantage of the bargain?
According to the foreclosure complaint, the borrower utilized proceeds to make "a one-time distribution to the beneficial owners." What did the owners do with the money they paid themselves? Why haven't they used the funds to repay their obligation?
Besides being a director of Keep the North Shore Country, I have been in the mortgage-lending business for 16 years and one fact is abundantly clear: The value of real estate is determined by what an informed buyer is willing to pay, not what a seller hopes to get.
This resort is probably worth much less than the "asking price" of $283 million.
Gil Riviere - Waialua

< Back