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setting the numbers and is it direct, that’s what we’re looking at. And so therefore when <br />I get to the dilution problem--I was going to use an analogy, but I don’t know if it’s <br />correct anymore, women might not like it--but the old analogy used to be you cannot be <br />almost pregnant. Either you are or you aren’t. So it’s kind of like this. Is it direct or is it <br />not direct? So I don’t know if dilution is the answer to get it into being indirect, because <br />then you start saying what’s the numbers. When does it become enough diluted that we <br />can say it’s indirect, and when is it not so diluted? Because the _____, like you said, <br />when I said five you said that’s not enough. I was hoping you’d say that. <br /> <br />MR. BALSIS: Nancy has a comment she’d like to make. Go ahead. <br /> <br />MS. CRAWFORD: Can we offer one more—actually, Lisa was going to offer one more <br />comment, I think about the appraisal – <br /> <br />MS. NAHOOPII: And it could be what the dilution part—we might have misunderstood, <br />because I think we were, like Mr. Adams, we were taking it away—I think our concern is I <br />review all of the neighborhood changes. And our take away from that was even if you <br />had gone down to the appraisal level, because we’re at a higher level looking at the <br />whole island, we weren’t part of it. But I think my concern of where it’s going now is, as <br />the administrator and assistant administrator, I mean our jobs require us to review <br />everything and to be held responsible. And I own properties—or my spouse owns <br />properties, I should say, that includes the South Hilo area where this is located. And so I <br />don’t know where that dilution, if we keep going down there, really does end. We were <br />under the assumption, incorrectly it looks like, last time that where Stan was headed <br />to—taking you to, it was on the island-wide, because he does the cost tables and <br />depreciation, and that affects every single parcel, including his. But when I review the <br />neighborhoods, I’m looking at the neighborhoods not thinking—and most of us are like <br />that—we don’t look at TMKs or our individual parcels any more. We’re looking at the <br />neighborhoods, the groups of sales, and everything to that nature. So we didn’t—maybe <br />we didn’t properly address the dilution of interest. Even more so, I think we were looking <br />at the substantial benefit. And I understand that’s only property is a substantial benefit, <br />and we were taking what you were asking was like what would their benefit be, the $81 <br />change or the $60 change to their property as being a substantial benefit to them. And <br />so I apologize, because I think maybe we further confused that. When we—the dilution <br />we were looking at was this little part in this whole big process of the value, and so I <br />don’t know if you have any questions or if I just made that more confusing. <br /> <br />MR. HENRICKS: Okay, then I would suggest if you’re going to change my dilution thing, <br />then I have to change my theory, okay? Okay, if you’re using a second dilution theory, <br />dilution process, okay—does the fact that you have a review process in position make <br />her actions direct or indirect? Does it change her actions from being direct or indirect? <br />You see, now that’s your dilution concept. And I don’t think it does. Either she acts <br />directly or she’s not acting directly. But by having a review process doesn’t change that. <br />_______ there again. <br /> <br />21 <br /> <br />