2004-12-17 TNani MauO - Laserfiche WebLink

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FUJIYAMA:I think right now we have three accesses from Makalika Street. GRAHAM:Okay. FUJIYAMA:But just two into the restaurant area. GRAHAM:So what my concern is, when I look at the conditions, when I look at the expansion that went in in 91, which is what provoked the Land Use Commission to make this additional requirement for you that were looking at today, maybe deleting that, many of these are still in place. And, in fact, since then we also have the salon and spa which was, you know, permitted by a decision by the Planning Director. So, in my mind, its not clear that the deletion of the two snack shops and what have you, you know, is, is really getting into the heart of what the expansion was all about, given that much of the expansion, including the commercial area, is stillinplace.Soitsnotclear,tome,thatthereasonsforgranting,forrequiringthatconditionof road improvement is really being alleviated by you making this particular deletion that were talking of today. I just want to express that to you. And if Im incorrect in any of the stuff that Ive said, I - Can I move on to the second one so we can keep moving? FUJIYAMA:Okay, go ahead. GRAHAM:Okay. The second reason was for economic reasons. When I read your annual reports which were included here, theres one of them which, these are not well paged numbered for me but it has general report from August 17, 2002 to the present. So thats probably one you put out in 2003; and, so thats like about 12 or 15 pages into the Background Report here. Anyway, in that special report, it says on the third page of the report, The salons construction work, purchase of equipment and supplies and the hiring of 20 new employees incurred a large capital outlay for Nani Mau, Inc. this year. It is estimated it may take Nani Mau six to eight years to cover this investment. So, you made this investment that is going to take you six or eight years to recover at a time when this particular requirement to improve the highway was still in effect. So, to me, the economic hardship wasnt so great that you couldnt make a capital investment of this nature but it is so great that its a problem for you to improve the highway, which was already a requirement at that time. So that kind of concerns me. FUJIYAMA:Can I answer that? GRAHAM:Certainly. FUJIYAMA:Okay. If you look at, well, our present operation, the way it is right today, is still taking a big loss. And the only way we can probably turn this business around is to increase the operation so we can generate more revenues; and so that was part of the risk that we took. We tried to invest capital so we could increase our revenues. But if we just stay status quo, wed always lose there. You know, and its just the nature of the location. 10