Hawaii Gov.: Oracle's Ellison to buy most of Lanai

[shanti]

Source: Sacramento Bee

HONOLULU -- Oracle Corp. CEO Larry Ellison has reached a deal to buy 98 percent of the island of Lanai from its current owner, Hawaii Gov. Neil Abercrombie said Wednesday.

The land's owner, Castle & Cooke Inc., has filed a transfer application with the state's public utilities commission, Abercrombie said.

The sale price for the property - the vast majority of the island's 141 square miles - was not immediately clear. The Maui News previously reported the asking price was between $500 million and $600 million.

Representatives for Castle & Cooke, owned by self-made billionaire David Murdock, did not immediately return a call seeking comment from The Associated Press.

Read more here: http://www.sacbee.com/2012/06/20/4577629/hawaii-gov-oracles-ellison-to.html#storylink=cpy

Read more: http://www.sacbee.com/2012/06/20/4577629/hawaii-gov-oracles-ellison-to.html

---

Just how can individuals own a state?? I had no idea!

[Xipe Totec]

1. Well, King ranch is just a fraction of Texas,

But it is slightly larger than the state of Rhode Island.

[catzies]

2. The 99% dream of visiting Hawaii someday. The 1% buys it. n/t

[judesedit]

3. They can run to their own little Alcatraz when the heat sets in

Hate to tell you, but many foreign entities own many of our resources and much of our land. This country has been for sale for a long time. Greed has no limit.

[YOHABLO]

4. Hmm Does it Have ..

It's own volcano?

[Marooned]

5. I've heard Ellison can be pretty volcanic at times if that qualifies :)

[limpyhobbler]

6. This is a good example of a person who has too much. nt

[SammyWinstonJack]

9. Was thinking the same. Waaaaayyyy too much.

He uses what amounts to pocket change for the 99%, to purchase an Island.


Whatta World.

[mahatmakanejeeves]

7. I immediately thought of

the television commercial that ran at the height of the dot com boom.

ARTICLE: Individual Stocks - "A Losing Game"

The popular investment phrase, "a rising tide lifts all boats" was never more evident than during the bull market of the late 1990's. It seemed that no matter what stocks you invested in, you couldn't help but make money. After all, who could forget the commercial in which a suburban mom who returning home from jogging, punches a few keys on her computer, sells a little biotech stock, and announces, "I think I just made about $1,700." Or how about the ad for an online trading Brokerage firm in which a tow-truck driver and his passenger have the following conversation;

Passenger: You invest online?
Tow-truck driver: Oh yeah, big time. Well, last few years anyway. I'm retired now.
Passenger: You're retired?
Driver: I don't need to do this -- I just like helping people.
Passenger: (Noticing a picture of an island) Vacation spot?
Driver: Actually, it's a picture of my house.
Passenger: It's an island.
Driver: Well, technically it's a country. Weird thing about owning your own country, though, you have to name it.

The Googles are wonderful!

[panzerfaust]

8. Were the serfs included in the property transfer?

Or will he have to buy new ones?

[Citizen Worker]

10. A job creator at work, no doubt.