Wednesday, July 20, 2016

Mark Takai

U.S. Rep. K. Mark Takai died this morning in Honolulu, nine months after he was diagnosed with pancreatic cancer. A statement from his office said Takai passed away at his home, surrounded by his family. He was 49.

“The Takai family thanks the people of Hawaii for their support during this difficult time,” the statement said. “The Takai family politely asks for the continued respect of their family’s privacy.”

Gov. David Ige’s office issued a statement lauding Takai’s public service and expressing condolences.

“Today, the people of Hawaii mourn the passing of U.S. Rep. Mark Takai. He proudly served his country in uniform, including 17 years with the Hawaii Army National Guard. Mark humbly and effectively served the people of his state House and Congressional districts. In the often tumultuous world of politics, he has been a shining example of what it means to be a public servant.

“While we will deeply feel the loss of Mark Takai in the public arena, we cannot forget that he was a family man first. His wife, children and extended family will miss him every moment from this day on. Dawn and I extend our deepest sympathies to Sami, Matthew and Kaila. Your husband and father was a man of principle and goodwill. Thank you for sharing him with the citizens of Hawaii.”

Born on Oahu on July 1, 1967, Takai was an Iraq War veteran who deployed in 2009, and was a lieutenant colonel in the Hawaii Army National Guard. He worked for the Guard as a preventive medical officer.

The Democrat served in the state Legislature for 20 years before winning election in 2014 to the U.S. House seat that was vacated by former Rep. Colleen Hanabusa, who ran unsuccessfully for Senate.

Takai publicly confirmed last November he had been diagnosed with cancer, and he underwent surgery at the National Institutes of Health in Bethesda, Md., to remove a small tumor in his pancreas.

Takai was a graduate of Pearl City High School and the University of Hawaii, where he was a champion swimmer, editor of Ka Leo, the campus newspaper, and president of the Associated Students of the UH.

He is survived by his wife Sami Takai, their children Matthew, 14, and Kaila, 13, and parents Erik and Naomi. Services are pending.

***

Friends and colleagues mourned the passing of U.S. Rep. K. Mark Takai on Wednesday, describing the congressman as ferociously hardworking with an enthusiasm for politics dating back to his days at Pearl City High School.

President Barack Obama, in a statement from the White House, said that Takai leaves behind “a legacy of courage, of service, and of hope.”

“Mark was always a fighter. It’s the spirit he brought to more than two decades of public service on behalf of the people of Hawaii,” said Obama. “He stood up for America’s most vulnerable. He championed our troops and veterans, and proudly wore our nation’s uniform. And his relentless push for cancer research inspired countless Americans fighting the same battle as him. Simply put, our country is better off because of Mark’s contributions.”

House Finance Chairwoman Sylvia Luke, who served in student government with Takai at the University of Hawaii, was moved to tears when she described Takai’s energy, enthusiasm and potential as a leader.

“He had a terrific promise, and I know he would have had a really terrific future in Congress,” she said.

Luke and Takai ran against each other for student government president at Manoa, and Luke won in a very close race. Takai asked for a recount, which ended up increasing Luke’s margin of victory.

Takai teased Luke about the race for years after that. “Whenever he gets a chance he jokes about how I beat him, and (how that) helped to redefine him so he cannot take things for granted,” she said. And Luke would remind Takai of the fruitless recount.

Luke put Takai in charge of the lobbying committee for the student body, and she said it was Takai who persuaded Gov. John Waihee in the late 1980s to build the Stan Sheriff Center sports arena and increase its seating to 10,000 from 5,000.

“Mark kept insisting. One of the things you love about Mark is he does his homework, and he is like a pit bull, and he is going to get to where he wants to,” Luke said. “He will lay out his arguments, and he met with everybody.”

Takai ran again the next year, 1989, and won.

“He loved public service,” Luke said, and helped to persuade her to run for the state House.

Monday, July 18, 2016

Hawaiian Electric to be sold (or not)

*** [7/18/16]

NextEra Energy Inc. has ended its plan to buy Hawaiian Electric Industries Inc. and will pay the state’s largest utility $95 million in “break-up” fees and other costs, the two companies announced early today.

The announcement came after the state Public Utilities Commission, in a 2-0 vote Friday, rejected the Juno, Fla.-based company’s $4.3 billion offer to takeover HEI. PUC approval was needed for the companies to close the deal. NextEra and HEI could have challenged the PUC decision, but instead will walk away from the deal.

“As a result of the PUC’s order, we have terminated our merger agreement,” Jim Robo, NextEra’s chairman and chief executive, said in a news release issued before U.S. stock markets opened this morning. “We wish Hawaiian Electric the best as it serves the current and future energy needs of Hawaii, including helping the state meet its goal of 100 percent renewable energy by 2045.”

The PUC, in its rejection, expressed doubts about NextEra’s commitment to the state’s lofty renewable-energy goal and said its decision does not prevent Hawaiian Electric from seeking another partner.

[12/3/14] Juno Beach, Fla.-based NextEra Energy has agreed to buy Hawaiian Electric Industries in a $4.3 billion deal.

HEI will spin off American Savings Bank as part of the deal.

The companies said Wednesday that Hawaiian Electric Co. will keep its name and continue to be based in Honolulu. There will be "no involuntary workforce reductions at Hawaiian Electric Co. for at least two years after transaction closes," the companies said in a news release.

The value to HEI shareholders is estimated to be $33.50 a share. HEI shares closed trading Wednesday at $28.19.

"This is a transformational opportunity to unlock the value of two strong, local companies, American Savings Bank and Hawaiian Electric," said Connie Lau, HEI's president and chief executive officer and chairman of the boards of American Savings and Hawaiian Electric. "In NextEra Energy, Hawaiian Electric is gaining a trusted partner that can help the company accelerate its plans to achieve the clean energy future we all want for Hawaii."

Lau said that with NextEra's additional financial resources Hawaiian Electric will be able to meet its goal of reducing Hawaii's dependency on fossil fuels sooner.