East-West Center to the rescue

Fereidun Fesharaki, the energy expert who has departed the East-West Center, had many unflattering things to say about the running of the institute where he has worked for decades.

Micromanagement, poor leadership and lack of transparency were the attributes on his critique list. But he also said he’d like to see the center saved, if it’s properly run.

"I owe it a lot," Fesharaki told the Star-Advertiser.

That’s partly because it offered him a scholar’s position back in 1979, when the Ayatollah Khomeini rose to power. The Iranian-born Fesharaki had worked in an energy office under the administration of the toppled shah. Fellow regime employees were scrambling for a way out of the country.

It was the East-West Center to the rescue. No wonder there’s a spot in his heart for the place.

Housing bubble expanding again?

A quarter-century ago, prospective home buyers in Hawaii were at the very forefront of what would become a tumultuous roller-coaster ride. Housing prices were on the rise — and they soared dramatically, only to come crashing down by 1993, after the Japanese real estate bubble burst.

Now, it seems history is poised to repeat itself — albeit at a higher starting price point — with median costs for single-family homes and condos reaching record highs last year. And experts are predicting much stronger price acceleration over this and the next few years due to growing demand and limited inventory.

To all prospective home buyers and sellers out there: Fasten your seat belts; it’s going to be a bumpy ride.