Word: honolulu
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...Treasury Secretary and U.S. energy czar is no Don Quixote of the business world. There is nothing fanciful about his vision of assembling a financial empire in the Pacific Basin. In fact, Simon has helped mold a multibillion-dollar conglomerate that includes the largest savings and loan association in Honolulu and a merchant bank in Los Angeles. Last week an investor group led by Simon agreed to pay $157 million for Western Federal Savings & Loan, the fifth California thrift the group has tried to acquire within a year. Says Simon: "California is the gateway to the dynamic growth markets...
...Although Marcos' designs sounded improbable, the Reagan Administration took them seriously. Early last week State Department Legal Adviser Abraham Sofaer and Gregory Walden, a Deputy Associate Attorney General, traveled to Honolulu, where the deposed leader has been living in exile. They informed Marcos that he cannot leave the island of Oahu, and gave him a personal letter from President Reagan reminding him that he is subject to American laws...
...accommodate the one-month schedule, the route of the Pacific passage was unkinked into a more or less straight line from Honolulu to Kavieng, on the northwest tip of New Ireland in the Bismarck Archipelago. Sealestial covered more than 3,500 nautical miles; ports of call included inhospitable Johnston Atoll, believed to be the site of a U.S. poison-gas depot, where even such minimum security risks as a former ambassador and the editor of the National Review were denied an overnight parking space...
DIED. Chinn Ho, 83, pioneering Hawaiian financial tycoon; of a heart attack; in Honolulu. Starting in high school as a pencil and thermometer salesman, Ho built a real estate empire that stretched from California to Hong Kong. Ho, the first man of Asian ancestry to be named president of the Honolulu stock exchange, was also the putative model for Hong Kong Kee, the wily businessman who outsmarts the white hierarchy in James Michener's Hawaii...
Some American business managers are pleased with the investment boom. Mike McCormack, a leading commercial-property broker in Honolulu, credits Japanese investments with pulling Hawaii out of a long real estate slump. Since Japanese real estate investors tend to buy for the long haul, many industry experts believe they will make excellent landlords, committed to maintaining the value of their properties. Other U.S. business executives simply view the real estate boomlet as a harmless way to handle America's lopsided balance of payments with Japan by in effect trading high-rises and land for VCRs and cars. After...