Wailea 670 (Honua`ula) Owners
(Note: once again ownership has changed as Lehman Brothers went bankrupt. This info is out of date)
The land is owned by an investment group, WCPT/GW Land Associates LLC, which bought the property for $17.2 million in 2000 from previous owner Palauea Bay Partners. WCPT/GW Land Associates involves partners: Lehman Brothers; the Cargill Group; Trimark Pacific Homes; managing partner Woodridge Capital; and Golden Wailea, the Japanese firm that previously owned the land and still holds a small percentage of the company.
The land now is valued by county tax assessors at more than $43 million.
Cargill made it onto the Council on Economic Priorities’ short list of worst environmental offenders, for its 2,000 violations of occupational safety and health laws; its 40,000-gallon spill of phosphoric solution into Florida’s Alafia River in 1988; and its poor air pollution compliance and toxic waste releases records. (Earth Island Journal, Winter 1993, p. 20; and Mother Jones, Jan/Feb 1993)
Additionally Cargill has been sued for alleged trafficking, torture, and forced labor of Mali children who were enslaved to work on Ivory Coast farms.
Cargill, the world’s largest grain merchant, flooded Iraq with hundreds of thousands of tons of wheat, wiping out Iraqi farmers already devastated by a dozen years of US-led sanctions, and unceasing attacks on irrigation flues and dams. The occupation’s agriculture chief, Dan Amstutz had chaired a Cargill-funded company. (Who Won The War? – by William Thomas)
Between 1985 and 1994, Cargill received $1.3 billion in U.S. Department of Agriculture “bonuses” to sell agricultural products at prices below cost (Zepezauer and Naiman, Take the Rich off Welfare, Tucson, AZ: Odonian Press, 1996, p. 104, citing Janice Shields, Aid for Foreign and U.S. Corporations, Washington, DC: Center for Study of Responsive Law, 1995).
According to the Cargill site, the company had annual sales of $75.2 billion in 2006 and a net worth of $13,870 million.
According to the Lehman Brothers site, the company had net revenues of $17,583 million and total assets of $503.5 billion in 2006. Lehman Brothers is a major investor in the Hawaii Superferry.
Lehman Brothers paid a total of $360 million to settle their own charges of fraud and financial wrongdoing. (Public Citizen Congress Watch August 2003)