David C. Farmer, Successor-Trustee vs. Harmon

(Formerly Woo vs. Harmon & Nicholson vs. Harmon)

CV05-00030 DAE KSC

U.S. District Court For the District of Hawaii

Judges: David A. Ezra; Kevin S. Chang

DEFENDANT’S WITNESS

 

MICHAEL E. O’NEILL

Chairman/CEO of Pacific Century Financial Corp. (parent company of Bank of Hawaii); former executive of Bank of America.

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NEW DISCOVERY (03-14-09): More undisclosed conflicts of interest between Steven Guttman, Mary Lou Woo, David Farmer, Robert Kihune, Sandwich Isles Communications, Bank of Hawaii, Gilbert Tam, Barack Obama, Steve Case, AOL, Dan Case, Punahou School, Citigroup, Robert Rubin, Henry Paulson, Suzanne Case, Faye Kurren, The Nature Conservancy, Goldman Sachs, Kamehameha Schools, etc.

March 14, 2009

Ex-CEO of Bankoh considered
for Citigroup board

By David Segal, Honolulu Star-Bulletin

Former Bank of Hawaii Chief Executive Michael O'Neill reportedly is one of the candidates being considered for a position on the board of directors at financially troubled Citigroup Inc.

O'Neill, who turned around Bankoh's lagging fortunes in less than four years before retiring at age 57 in August 2004, was mentioned along with former U.S. Bancorp CEO Jerry Grundhofer and William S. Thompson, former co-chief of bond investment manager Pimco, according to a report in the Wall Street Journal.

The newspaper said Citigroup is expected to announce the board changes next week when it files its proxy statement with the Securities and Exchange Commission. Any nominees would have to be formally approved by the board and voted on by shareholders.

O'Neill took over then-called Pacific Century Financial Corp. from Larry Johnson on Nov. 3, 2000, and in less than four years transformed the bank into a more efficient operation, elevated earnings to record highs and increased shareholder value nearly fourfold.

He also became somewhat of a TV personality with the bank's "Tell Mike" campaign.

Richard Parsons, a one-time University of Hawaii student who took over as chairman last month, is one of the few Citigroup directors with experience in both banking and leading a large company.

Honolulu Star-Bulletin

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April 26, 2003

Bankoh CEO chimes
in on CPB’s Arnoldus

By Dave Segal, Star-Bulletin

Move over, Walter Dods. You've got company.

Bank of Hawaii Chief Executive Officer Michael O'Neill took his turn yesterday slamming Central Pacific Bank's Clint Arnoldus over "misrepresentations" O'Neill said Arnoldus made about Bankoh last week during a CPB Inc. conference call.

Arnoldus, already in hot water with First Hawaiian Bank's Dods over references made about that bank's French ownership, this time was on the receiving end of an O'Neill zinger at Bank of Hawaii's annual shareholders meeting. The impetus for O'Neill's attack was Arnoldus' comment that Bank of Hawaii "has taken a strategy of loading the senior management with mainland imports and in the process ... alienated the market."

O'Neill, who has declined comment on CPB's hostile merger offer for City Bank parent CB Bancshares Inc., said he objected to Arnoldus' contention that Bank of Hawaii was mainland managed and that the bank had broad customer dissatisfaction.

In fact he had a career suggestion.

"If things don't work out for Mr. Arnoldus, I understand Iraq is looking for a new minister of finance," O'Neill said to a roar of approval.

A week earlier, during the same conference call, Arnoldus implied Bank of Hawaii and First Hawaiian Bank weren't "local" enough. That drew the ire of Dods, the chairman and CEO of First Hawaiian.

"If he really understood what 'local' means, he'd know local people don't make hostile attacks on honorable competitors," Dods said. "Anytime he wants to debate in pidgin on 'local,' I'm available."

Arnoldus, reached in Boston yesterday during the final leg of an East Coast trip designed to drum up merger support, reiterated he didn't mean to offend anyone.

"It's just two different styles," Arnoldus said. "Our philosophy is to build this bank from within the state and theirs is looking outside Hawaii for key management positions. I certainly respect Mike's team very much. He's certainly got smart people working for him."

Arnoldus also expressed a desire to see the end of the verbal jousting on this issue. "It's not healthy for us to start slinging mud back and forth," he said.

Nearly lost in the competitive antics was O'Neill's revelation earlier in the Bankoh shareholders' meeting that he has decided for the second year in a row to refrain from taking a salary and bonus. That figure amounts to between $1.5 million and $2 million, O'Neill said....

O'Neill is forgoing his salary and bonus again because he said the bank's performance is still not at the level he desires. One major reason for the drag on earnings, he said, is the company's excess cash -- earning a 2 percent return -- that is the result of the bank's numerous divestitures.

Meanwhile, O'Neill said Arnoldus's comment that Bank of Hawaii was mainland run was not just a misrepresentation but also implied that it was a "bad thing." O'Neill said it also was untrue that "customers were leaving us in droves because of this harsh and unfeeling attitude of these mainland managers."

Arnoldus denied saying customers were leaving Bank of Hawaii in droves. However, a text of his conference call shows that Arnoldus said Bank of Hawaii had alienated the market and "sent the direct message to the market that mainland people are the people that should be running this institution, not the people of Hawaii. That hasn't been received very well."

Thus, with Arnoldus' comments as fuel at the shareholders meeting, O'Neill began introducing many of the bank's Hawaiian-born executives and inventing bogus birthplaces for them. He introduced Peter Ho as being from Duluth, Minn., and Peter's grandfather, Chinn Ho, as being a long-term resident of Duluth. In actuality, the elder Ho, who died in 1987, was a local financier and developer.

O'Neill then introduced Donna Tanoue, who runs the bank's investment management and trust business, as being from St. Louis. Tanoue, the former chairwoman of the Federal Deposit Insurance Corp., actually graduated from Kalani High School and the University of Hawaii. O'Neill continued the routine for several more executives.

"The point I'm trying to make here is we have local people here doing very critical jobs," he said. "Did we bring in people from the mainland? We did. ... We brought people in with strong administrative skills and a strong knowledge of banking. Happily, those skills are transferred."

Bank of Hawaii
First Hawaiian Bank
Central Pacific Bank
City Bank

Honolulu Star-Bulletin

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November 3, 2000

Michael E. O'Neill Named Chairman and CEO of Bank of Hawaii and Pacific Century Financial Corporation

Business Wire

The Boards of Directors of Bank of Hawaii and Pacific Century Financial Corporation (PCFC) today announced that Michael E. O'Neill has been appointed a director of both boards and the institutions' new chairman and chief executive officer. O'Neill, 54, succeeds Lawrence M. Johnson, 60, who announced in August his intention to retire following the naming of his successor.

O'Neill, who is PCFC's seventh chairman, is the former vice chairman and chief financial officer of Bank of America. Subsequent to Bank of America's merger with Nations Bank in September 1998, O'Neill was a member of the company's six-person Policy Committee and was responsible for planning and implementing the integration of the two banks. He left Bank of America in February 1999 to become chief executive officer of Britain's Barclays PLC, one of the ten largest banking companies in the world. He resigned in April due to an illness from which he has fully recovered. In his nearly 30 years in the banking industry, O'Neill has lived and worked extensively in Europe and Asia as well as the U.S. Mainland....

In August, the Board of Directors initiated an international search for a new chairman and CEO.

Mary Bitterman, president of KQED in San Francisco and lead director of PCFC, said, "Michael O'Neill enjoys an outstanding reputation among senior executives in the industry. The Board is pleased to appoint such a proven leader who brings international experience and an outstanding track record of accomplishments. We know among his priorities will be to aggressively deal with the credit quality issues as well as regain shareholders' confidence."

"The Board appreciates Larry Johnson's many years of dedicated service to the bank and his commitment to its shareholders, customers, employees and the communities it serves."

Richard J. Dahl will continue to serve as president and chief operating officer of Bank of Hawaii and PCFC.

O'Neill was born in Santa Monica, Calif. but spent much of his youth in Europe and Asia. He received his Bachelor of Arts from Princeton University in 1969 and his MBA from the Colgate Darden School of the University of Virginia in 1974. O'Neill served as a lieutenant in the United States Marine Corps from 1969 to 1971. He and his wife, Trish, have two sons.

Pacific Century Financial Corporation is a $13.9 billion regional financial services holding company with locations throughout the Pacific region. Pacific Century and its subsidiaries provide varied financial services to businesses, governments and consumers in four principal markets: Hawaii and the West Pacific, South Pacific, Asia and selected markets on the U.S. Mainland. Pacific Century's principal subsidiary, Bank of Hawaii, is the largest commercial bank in the state of Hawaii.

Prior Career Summary

Mike O'Neill was appointed chief executive officer of Barclays PLC in February 1999. He resigned in April due to an illness from which he has now completely recovered.

His previous position was transition chairman of the Policy Committee of "new" Bank of America, charged with planning and implementing the integration of Bank of America and Nations Bank subsequent to their merger. The Policy Committee was made up of the "new" Bank of America's six most senior members of management.

Prior to that merger that became effective on October 1, 1998, O'Neill was vice chairman and chief financial officer of "old" Bank of America, a position he assumed in November 1995. During O'Neill's tenure as CFO, Bank of America's stock performance was the best of the ten largest banks in the United States, nearly quadrupling in value during the period.

Prior to the September 1994 acquisition of Continental Bank by Bank of America, O'Neill was chief financial officer of Continental. He headed the team that negotiated the sale of Continental and, following the merger, managed Bank of America's highly profitable private equity business until he assumed the post of CFO of Bank of America.

O'Neill joined Continental in 1974 and completed a number of overseas postings in Brussels, London and Hong Kong. He left Continental in 1984 and worked as an independent consultant providing services to a variety of banks, corporations and individuals in workouts and restructurings through 1988. Based in London, he completed assignments in the U.S., Europe, Asia and the Middle East.

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Michael E. Oneill is expected to testify regarding his business, professional and personal relationships with Barack Obama; Bank of America; Barkclay’s Bank; The Committee of 300; Lawrence Johnson, Mary Bitterman, Henry Paulson; Steve Case, AOL; Dan Case; Ed Case; Matsuo Takabuki; Henry Peters; Richard Wong; Peter Savio; Gilbert Tam; Robert K.U. Kihune; Sandwich Isles Communications; Diane J. Plotts; Guido Giacometti; Lyn Anzai; Colleen Wong; Nathan Aipa; Michael J. Chun; Bill Mills; Robert F. Clarke; Edwina Clarke; Rockne Freitas; Guido Giacometti; Donna Tanoue; Colbert Matsumoto; Island Holdings, Inc.; David Black; Warren Luke; Jeffrey Watanabe; Suzanne Case, Faye Kurren, The Nature Conservancy; Haunani Apoliona; Office of Hawaiian Affairs; David Cole; Judith Neustadter Fuqua; Walter A. Dods, Jr.; Bert A. Kobayashi; Judge Barry Kurren; C. Brewer & Co.; Robert Katz; Bill Mills; Wayne Minami; Jean Rolles, Outrigger Enterprises; Eric Yeaman; George Ariyoshi; Stanley Hong; The Starr Foundation; C.V.Starr; Hoku Scientific; AIG; Robin Campaniano; Robert Bunda; Clayton Hee; Al Hee; Steven Guttman; Michael O’Neill; James Nicholson; Carol Muranaka, Louise Ing, Judge Alan Kay, David Farmer, David Murdock, Mark Hemmeter, Francis Oda, Group 70, George Ariyoshi, John Waihee, Ben Cayetano, Bill Clinton, and others to be named upon discovery.

Internet References:

http://starbulletin.com/96/05/02/business/bizbriefs.html

http://starbulletin.com/96/08/21/business/story2.html

http://starbulletin.com/2000/08/22/business/story1.html

http://starbulletin.com/2000/08/23/editorial/editorials.html

www.bizjournals.com/pacific/stories/2000/08/28/story1.html

www.starbulletin.com/2000/11/03/business/

http://starbulletin.com/2002/04/30/business/index2.html

http://starbulletin.com/2002/06/23/news/story2.html

www.starbulletin.com/2002/07/22/news/

http://starbulletin.com/2002/09/29/special/story40.html

www.hpu.edu/index.cfm?contentID=4093&siteID=1

www.kycbs.net/Act221.htm

www.kycbs.net/AIG.htm

www.kycbs.net/Aloha-Air.htm

www.kycbs.net/Apartheid-Hawaii.htm

www.kycbs.net/Bailing-Out-Wall-Street.htm

www.kycbs.net/Bank-of-America.htm

www.kycbs.net/Bank-of-Hawaii.htm

www.kycbs.net/Bishop.htm

www.kycbs.net/Bishop6.htm

www.kycbs.net/BrokenTrust.htm

www.kycbs.net/Broken-Trust-Book.htm

www.kycbs.net/Cesspool.htm

www.kycbs.net/CITIGROUP.htm

www.kycbs.net/Claims-Branch-SEC.htm

www.kycbs.net/Confessions.htm

www.kycbs.net/Developers.htm

www.kycbs.net/Dole.htm

www.kycbs.net/First-Hawaiian-Bank.htm

www.kycbs.net/Group-70.htm

www.kycbs.net/Hawaiian-Air.htm

www.kycbs.net/Hawaiian-Electric.htm

www.kycbs.net/Lost-Generations.htm

www.kycbs.net/MaunawiliValley.htm

www.kycbs.net/Methane.htm

www.kycbs.net/NatureConservancy.htm

www.kycbs.net/Nature-Conservancy-Hawaii.htm

www.kycbs.net/NestEggs.htm

www.kycbs.net/Non-Profits.htm

www.kycbs.net/OHA.htm

www.kycbs.net/PALAU.htm

www.kycbs.net/Paradise.htm

www.kycbs.net/PunaConnection.htm

www.kycbs.net/Punahou.htm

www.kycbs.net/Punaluu.htm

www.kycbs.net/RICO-BH.htm

www.kycbs.net/SandwichIsles.htm

www.kycbs.net/TheSEC.htm

www.kycbs.net/Summit-Communications.htm

www.kycbs.net/TheMeadows.htm

www.kycbs.net/UH.htm

www.kycbs.net/WallStreet.htm


TO GO TO THE WOO VS. HARMON WITNESS INDEX


www.kycbs.net/CV05-00030-Witness-Index.htm

Originally posted: December 18, 2005

Last updated: March 14, 2009

 

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CHRONOLOGY

December 18, 2005: Originally posted on www.the-catbird-seat.net

March 13, 2007: Judge David Ezra signs Order to shut down website

March 14, 2009: Latest update on www.kycbs.net

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