Saturday, October 5, 2024
Hawai'i Free Press

Current Articles | Archives

Saturday, September 7, 2024
Investment Bankers: How to Force Lahaina Insurers into Accepting Smaller Settlement
By Andrew Walden @ 5:09 PM :: 1281 Views :: Maui County, Ethics, Judiciary, Cost of Living

by Andrew Walden

A note, September 6, 2024, from the investment bankers at Evercore, (above) outlines the process by which the State is attempting to corner and pressure Lahaina insurers into accepting a smaller amount in Green’s ‘settlement’ deal.  Apparently the negotiations are $600M vs $1.2B.

A ruling of a state supreme court can only be appealed to the US Supreme Court.

If the State Supreme Court were to gut subrogation, the effects on the insurance market and on consumers in Hawaii would be immense. 

The challenge for shysters is to come up with a State Supreme Court ruling that corners insurers while not gutting subrogation.  That’s not likely to be possible. 

The chances of an expensive, boneheaded precedent being set are greatly enhanced by the fact that this is not about the public interest nor is it about Lahaina fire victims--it is about local political insiders and the personal money they have tied up in Hawaiian Electric stock.

It is therefore more likely that the State Supreme Court will stall its decision as a pressure tactic while negotiations continue behind the scenes.  Once negotiations are concluded, the ruling will be moot so subrogation and due process can be upheld.

Green needs to show HE stockholders, many of whom are Hawaii voters and political insiders, that he is going to the mat for them.  HE and KSBE are totally intertwined as if they were one thing.  That’s why KSBE Trustees are willing to wipe out 9% of the KSBE Trust for this settlement.

Meanwhile it is not clear that HE can survive even the $600M hit.  So KSBE Trustees should be asked whether they are throwing good money after bad. 

Its easy for KSBE Trustees to spend lots of Trust money to save a little of their own HE stock value.  Too bad none of the Trustees are invading KS classrooms grabbing the chalk out of teachers' hands.  Now THAT would get a response!

---30---

BACKGROUND:

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii