About Town: Rambling Reporter
Following the latest happenings around Hollywood and who's dining where at today's power lunch spots.
It seems former HBO chairman/CEO Michael Fuchs has seen better business days. Fuchs has been involved with many ventures since leaving HBO in 1995, but the most lucrative possibilities appeared to be in Hawaii real estate. According to the Honolulu Star Advertiser, Fuchs bought a 65-acre parcel in 2002 in Mauna Lani on the Big Island for $15.5 million with big development plans. His Ke Kailani luxury home project (complete with spas and golf courses) was slated to cost $100 million. Fuchs managed to sell 14 home lots and two condos for $38 million. But the recession stymied further sales, and three local bank lenders filed foreclosure last year for the remainder of the land, claiming Fuchs defaulted to the tune of $52 million. The auction for those remaining parcels (compromising 24 home sites and eight condos) was scheduled for mid-November in Honolulu but has been rescheduled for Jan. 6. Fuchs could not be reached for comment.
Subscribe now to read the full article
- Read The Hollywood Reporter on any mobile device
- Email complete articles to clients or colleagues
- Interactive Radio: listen to the topics or headlines that interest you
- RSS Feed: read in a timely manner with easy to find content
- Read Offline: locate issues and articles easily at any time, no internet connection needed
Already a Subscriber? Log In
- MOST SHARED
- MOST POPULAR
- Pop Danthology's Mashup Of 68 Songs From 2013 Will Make You Wanna Dance
- The Mandela You Don't Know: The Savvy Politician Who Used the World Cup to Unite South Africa
- Idris Elba's 'Honour Of Stepping Into Nelson Mandela's Shoes', Film Royal Premiere As Former President Dies In South Africa
- Idris Elba: 'What An Honor It Was To Step Into The Shoes Of Nelson Mandela'