Dallas investor Michael Neary and partners Norman Siegal and James Cruce finally said aloha to Aloha Airlines in September. Neary and partners had attempted to acquire the Hawaiian airline through a leveraged buyout (“Raiding the Friendly Skies.” July). The group sold its 415,000 shares of Aloha to Hung Wo Ching, the airline’s chairman, and Sheridan C.F. Ing. its vice chairman, for $27.50 a share after buying it six months earlier for $20.25- that’s a tidy S3,OO8.75O gross profit. “We were disappointed that we couldn’t buy the airline.” Neary says, “’but we are happy with the economics.”


Keep me up to date on the latest happenings and all that D Magazine has to offer.