|4||3||Alexander & Baldwin|
|5||6||Maui Land & Pineapple Co.|
|9||9||Maui Electric Co.|
|10||10||Wailuku Water Co.|
DOWLING NOW OWNS MAKENA
Well, it’s official. On Tuesday, June 26, 2007, Dowling Company and Morgan Stanley Real Estate officially bought Makena Resort from the Japanese railway giant Seibu for $575 million. But have no fear—well, have no fear if you find reassurances from developer Everett Dowling to be reassuring: “We are committed to developing Makena into the most environmentally sensitive community in the state of Hawaii,” Dowling promised, according to the June 27 Maui News. Hey, wasn’t Makena already one of Hawai`i’s “most environmentally sensitive communities” before the resort went in? Oh well, what’s done is done. At least, that’s what I think I’m supposed to think after reading The Maui News piece. I mean, they must have waited until the penultimate paragraph before randomly mentioning some of Dowling’s other big island developments (like Maluaka, which includes 71 super-condos priced $4 million and up right on Makena’s Maluaka Beach) without context or explanation, implying that they’re really rather mediocre and completely unrelated to his buying Makena Resort.
Looks like Maui Land & Pine’s big million-dollar investment in Hawai`i Superferry Inc. is finally starting to pay off. And the company’s high-priced public relations firm has gone into blitz mode. First I got a McNeil Wilson Communications press release on June 26 announcing that the Superferry had left Los Angeles Harbor and was on its way to Hawai`i. Then two days later I got another release telling me the Superferry was still on its way to Hawai`i. That release also listed a bunch of vantage points on Oahu to see the Superferry’s weekend arrival, as well as a list of estimated times when the Superferry would be visible at all those vantage points. Seriously, there wasn’t this much hype when the Dalai Lama came to Maui, and he inspires many millions of people around the world. MTW