Word: honolulu
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With the yen so strong against the dollar, Japanese investors have been snapping up prime pieces of U.S. real estate from Honolulu to Manhattan. None of these acquisitors is quite like 36-year-old Ikuo Hiyakuta. He gobbles up entire city blocks like so much cardboard. Then he builds row upon row of houses and hotels until his rivals are driven into bankruptcy...
When Ferdinand Marcos fled the Philippines more than two years ago, a U.S. Air Force plane flew him into comfortable exile in Honolulu. But last week American hospitality came to an abrupt end for the ousted President. In New York City a federal grand jury indicted Marcos, 71, and his wife Imelda, 59, on six counts of racketeering and diverting more than $100 million taken from the Philippine treasury into artworks and real estate in Manhattan. As sweeping as the indictment was, it covered only a fraction of the billions of dollars that Marcos is thought to have stashed away...
...charges painted a portrait of greed and corruption that began in Manila and continued in Honolulu. U.S. Attorney Rudolph Giuliani said Marcos funneled the stolen money through secret bank accounts and then used it to buy four Manhattan buildings. The indictment accused Marcos of having defrauded U.S. lenders of more than $165 million that was borrowed to finance the properties. Co-defendants include Adnan Khashoggi, the Saudi Arabian financier, arms dealer and middleman in the Iran-contra scandal, who allegedly posed as the owner of the properties to protect the Marcos interests. "This case amounted to the Marcoses and their...
...other requested items. Even so, the grand jury acted only after a proposed deal between the Justice Department and Marcos unraveled late Thursday. The agreement called for Marcos to forfeit real estate, art and jewelry in exchange for having the Justice Department drop plans for the indictment. In Honolulu, however, a Marcos attorney said the Marcoses were given only a "drop-dead deal" that would have required them to plead guilty to racketeering...
...named Frederick Exley sits on the balcony outside his room in a Honolulu hotel, sipping vodka and heating up steaks on a portable grill. It is his wedding night, and he and his bride have just had their first tiff as husband and wife. Eventually, she stops sulking and joins him. "Dropping to her knees," Exley writes, "she grasped my bare thighs and begged me to please, please, please remove the grilling fork from my chest." Exley, in other words, is up to the same trick he demonstrated in A Fan's Notes (1968) and Pages from a Cold Island...