Larry Ellison Buys Hawaii’s Island Air

CommanderFrank

CommanderFrank

Cat Can't Scratch It
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Ah, the many different and varied problems of being a multi-billionaire, one of which was apparently how to get to Lanai, your own tropical island paradise. Larry Ellison, The Oracle CEO, has solved this problem of problems by purchasing Island Air, the Hawaiian Islands flight service which covers all of the Hawaiian Islands. Private planes are great: having your own airline, priceless. :D

“The entire Island Air team pulled together over the past year to restructure and position the company for success and this sale represents the culmination of that process,” said Les Murashige, Island Air president. “We welcome Mr. Ellison and we look forward to an exciting future together.”
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This is pretty big local news. Lanai's economy was in the pits, and Island Air was getting ready to go bankrupt. Larry "saved" both. Of course now the locals on Lanai aren't sure if it is a blessing or a curse since the island they live on is going to become more mainstream. The WSJ article may say he plans on leaving it mostly alone but he already has plans to build 3 tourist resorts.
 
robble said:
This is pretty big local news. Lanai's economy was in the pits, and Island Air was getting ready to go bankrupt. Larry "saved" both. Of course now the locals on Lanai aren't sure if it is a blessing or a curse since the island they live on is going to become more mainstream. The WSJ article may say he plans on leaving it mostly alone but he already has plans to build 3 tourist resorts.
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They said the same thing about Sun Microsystems when they bought it. Now they are suing Google and screwing up Sun products left and right.
 
And ORCL's public cap is ~$164 billion, up from ~$148 a little before Xmas...
 
Also to note - it says he bought 98% of the island. The 2% is the actual shore line which by Hawaii state law can only be owned by the state. All beaches in Hawaii are considered public with the only exception being beaches on secure military bases.
 
robble said:
Also to note - it says he bought 98% of the island. The 2% is the actual shore line which by Hawaii state law can only be owned by the state. All beaches in Hawaii are considered public with the only exception being beaches on secure military bases.
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Does that also include right-of-way access to the beach? I recall when I went to Maui I was staying down in Kehei or there abouts, and there was a nice little local beach within walking distance, however being the explorer that I am I wanted to check out some other shoreline without having to drive, and there was a Marriot or similar hotel where in order to get from one side of the beach where there were rocks blocking the pass you'd have to go onto a grassy area of marriot to get to the other sand side, however they had signs posted right there (almost as if this has been an issue) "Private Property: Only accessible by Marriot guests" so they weren't claiming the beach was theres, just the convenient way to get to the beach.
 
sfsuphysics said:
Does that also include right-of-way access to the beach? I recall when I went to Maui I was staying down in Kehei or there abouts, and there was a nice little local beach within walking distance, however being the explorer that I am I wanted to check out some other shoreline without having to drive, and there was a Marriot or similar hotel where in order to get from one side of the beach where there were rocks blocking the pass you'd have to go onto a grassy area of marriot to get to the other sand side, however they had signs posted right there (almost as if this has been an issue) "Private Property: Only accessible by Marriot guests" so they weren't claiming the beach was theres, just the convenient way to get to the beach.
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Any private property that blocks access to a beach is required by law to have a public right of way to get to the beach. There have been many fights and lawsuits against private owners and businesses that did not want to provide such access.
 
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