Word: chinn
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Popping up out of nowhere, a mysterious "global combine" proposed to buy five Sheraton Corp. hotels on Waikiki Beach and 5,400 acres of choice land on Oahu owned by shrewd Chinn Ho, 58, most meteoric of Hawaii's new millionaires (TIME, May 5, 1961). Total price on the package deal (including a few odd lots from other landholders): $62 million...
Nothing to Lose. From the start, both Chinn Ho and the cautious Yankee management of the Boston-based Sheraton chain were a bit put off by the elusiveness of the would-be purchasers. Publicly, the combine was represented by tough-talking Honolulu Real Estate Woman Ann Felzer...
...first families through a web of interlocking marriages and directorates. With clerkships the top jobs offered to them by most haole firms, Hawaiians of mixed blood turned to running hui-syndicates in which one astute businessman administers the pooled resources of the members. So successful a hui manager was Chinn Ho that he cracked Hawaii's bamboo curtain and gained a toehold in the haole establishment; he was the'first Oriental named a trustee of one of Hawaii's landed estates, the huge Robinson estate, a bastion of Hawaiian conservatism, first Oriental invited to join the businessmen...
Nothing from Grandfather. The first move is Chinn Ho's trademark. He has made the foundation of his empire, Honolulu's $25 million Capital Investment Co., Ltd., so flexible that it can quickly and easily be tailored to attract the risk capital required for specific situations. Stretching out from Capital are ten subsidiaries with tentacles reaching out all across the Pacific; some subsidiaries have subsidiaries; one sub-subsidiary in turn controls three other corporations. Through Capital, Ho controls the whole complex. "We can arrive at very fast decisions," he says. "That's the essence of our operation...
Hawaii-born Chinn Ho started out as a bank messenger after graduation from high school, jumped to a brokerage house, studied the stock market reports so dili gently that he became a customers' man. With his shrewd head for finance, Ho began to supervise a number of hui; he speculated in Philippine real estate, bought Waikiki land for as low as 40? a square foot. During World War II, he stepped up his operations, bought up choice Hawaiian land put on the market by islanders fearful of Japanese invasion...