DOCSLIB.ORG

The Howard Hughes Corporation 2020 Annual Report the Howard Hughes Corporation 2020 Annual Report 1 the Howard Hughes Corporation 2020 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Howard Hughes Corporation 2020 Annual Report the Howard Hughes Corporation 2020 Annual Report 1 the Howard Hughes Corporation 2020 Annual Report The Howard Hughes Corporation 2020 Annual Report The Howard Hughes Corporation 2020 Annual Report 1 The Howard Hughes Corporation 2020 Annual Report TABLE OF CONTENTS 03 A LETTER FROM THE CEO – OUR LEGACY – 2020 RESULTS – BUILDING FOR THE FUTURE 25 2020 FINANCIALS WARD VILLAGE The Howard Hughes Corporation 2020 Annual Report 2 A LETTER FROM THE CEO To My Fellow Shareholders 2020 marked the tenth anniversary of The Howard Hughes Corporation, a year that showcased the value of our assets and the strength and resiliency of our company. Despite the economic conditions dictated by the global pandemic, we were able to achieve strong full-year results across our portfolio—a reflection of the exceptional quality of our communities, our unique business model, and the dedication of our people. Across the country, our team was determined to continue to drive the success of our company and ensure that our employees, residents, tenants, customers, and visitors remained safe. The year also introduced an exciting new chapter for HHC with the announcement of a new leadership team. Jay Cross has joined as our president, and I am thrilled to have the opportunity to partner with him in leading the company forward. Jay is an industry veteran with vast experience executing on large-scale, mixed-use DAVID R. O’REILLY, APRIL 2021 projects that are proven catalysts for urban development. He will enhance our ability to leverage strong market demand, accelerate growth within our core assets, and deliver on our vision for the mixed-use urban centers of tomorrow. The success that we had in 2020 highlights the great value inherent in our master planned communities (MPCs), the benefits of control that we maintain within them, and their ability to perform during all economic cycles. Our company’s generational assets, diversified income stream, strong balance sheet, and self-funding business model enabled us to successfully navigate through an unprecedented year. We have emerged stronger and are a beneficiary of the accelerating trends towards the exact type of live/work/play communities that we offer. We kept a long-term, cohesive view of our businesses, making strategic decisions and proactively taking critical steps to protect and advance our company’s interests. We ended 2020 with the strongest liquidity position in our company’s history. With an extremely capable team in place, we are poised to accelerate development across our portfolio to meet market demand and take full advantage of the opportunities in our unique and extremely well-located properties. Our master planned communities are irreplaceable assets, located in low-cost states that continue to attract individuals and companies from across the nation. Our MPCs provide safety, security, sought-after urban amenities, and walkability integrated into wide-open spaces—all of which today are more important than ever—and continue to be ranked among the best places to live in the country. On RCLCO’s 2020 list of the top-selling master planned communities in the country, Summerlin ranked third, and was the top-selling MPC in Nevada. Bridgeland ranked ninth on the list and was the highest-ranked MPC in Texas. The Woodlands and Columbia were recognized as the #1 and #8 Best Cities to Live in America by Niche, and Summerlin was named MPC of the Year by the National Home Builders Association. This type of recognition speaks to the quality of our master planned communities and demand for the excellent homes within them—a testament to the great legacies of innovation on which our company is built. The Howard Hughes Corporation 2020 Annual Report 3 OUR LEGACY Decades of Innovation The Howard Hughes Corporation is only ten years old but the master planned communities at the core of our portfolio continue the work of four innovative placemakers whose collective legacy forms the bedrock of our organization: James Rouse, George Mitchell, Victoria Ward, and Howard Hughes. The Howard Hughes Corporation 2020 Annual Report 4 JAMES ROUSE James Rouse, known as the grandfather of the master planned community, is responsible for some of the most successful communities and retail districts in the nation, including the renowned MPC of Columbia, Maryland. Grounded in his belief in economic, social, and racial equality, Rouse’s influence on the American urban landscape has reshaped how people live, work, and play. With visionary foresight, he reimagined how communities could be designed and built to create, in his words, “a garden for growing people.” He was awarded the Presidential Medal of Freedom in 1995 in honor of his “uplifting work in American cities.” If you look at the needs and yearnings of people, you begin to discover the things that would be convenient, pleasurable, that would lift human spirit, that would add to human excitement. JAMES ROUSE GEORGE MITCHELL Inspired in part by the work of Rouse, the energy businessman George Mitchell acquired more than 28,000 acres of land in the Piney Woods of Southeast Texas with a vision of creating The Woodlands—a community where people and nature could coexist in a sustainable manner. Today, The Woodlands is home to over 118,000 residents and is one of the most acclaimed MPCs in the country. Considered by many as the father of sustainable development, George Mitchell established the Houston Advanced Research Center—a research institution located in The Woodlands that is dedicated to sustainability practices and the Texas Energy and Climate Change Program. The Howard Hughes Corporation 2020 Annual Report 5 VICTORIA WARD Driven by a profound love for her homeland, Victoria Ward embraced Mālama ʻĀina, the Hawaiian tradition of nurturing and restoring the land. She envisioned her vast 100-acre estate as a natural sanctuary where the community could come together to connect with each other and celebrate culture and the beauty of the island of Oahu. Operated for multiple generations under the ownership of Victoria Ward Limited, the area became known as a flourishing gathering place between Waikiki and downtown Honolulu. The legacy continues today, as the location is home to Ward Village—a community dedicated to honoring the distinct history of its land and remaining at the forefront of sustainable development. Courtesy of Frank Hustace III If you have a workforce that enjoys each other, they trust each other, they trust management, they’re proud of where they work, then they’re going to deliver a good product. HOWARD HUGHES HOWARD HUGHES The name Howard Hughes has long been synonymous with an unyielding passion for excellence, creativity, and a relentless pursuit of innovation. From drill bits to aviation, film and real estate, the Hughes family legacy includes the acquisition of a 25,000-acre parcel along the western rim of the Las Vegas valley, which would later be developed into the award- winning Summerlin master planned community—named for Jean Amelia Summerlin, the matriarch of the Hughes family. The legacy of these four iconic figures continues to drive us today as we envision and build the cities of tomorrow. While each had separate passions that inspired them, their innovations and the companies and communities they built provide the foundation of HHC and our opportunities for growth ahead. The Howard Hughes Corporation 2020 Annual Report 6 2020 RESULTS The Howard Hughes Corporation 2020 Annual Report 7 2020 RESULTS MASTER PLANNED COMMUNITIES After a lull at the start of the pandemic, we saw a surge in demand in our MPCs following the reopening of most local economies in April and May, resulting in strong full-year MPC earnings before tax (EBT) of $209 million. We were ultimately able to continue the momentum experienced in recent years and exceed the results we projected at the beginning of the year, prior to the pandemic. New home sales within our MPCs increased 10% compared to 2019 with a total of 2,724 new homes sold as homebuyers moved out of densely populated, high-cost states and into our amenity-rich, walkable urban communities. These results were further fueled by broader macro factors such as historically low interest rates and the growing acceptance of working from home, which increased the need for larger living spaces. The Howard Hughes Corporation 2020 Annual Report 8 MASTER PLANNED COMMUNITIES Summerlin Where People and Businesses Thrive In Summerlin, our results were impressive with a continued increase in the pace of home sales and price-per-acre. New home sales were 8% higher in 2020 versus 2019 and were 21% higher in the fourth quarter of 2020 when compared to the same quarter in 2019. In addition, the price-per-acre of Summerlin’s residential land grew to $772,000 per acre in 2020— an increase of $113,000, or 17%, when compared to 2019. Homebuyers continued to migrate to the low-tax, business-friendly state of Nevada from high-cost states such as California, and specifically to the high-quality lifestyle of Summerlin. In addition to strong homebuyer demand, the leasing rate of our latest multi-family property, Tanager, continued to exceed our expectations and ended the year 99% leased after just over a year in operation. These results signify the strong desire, from both renters and homebuyers, to live in Summerlin. The year included the opening of 10 new neighborhoods— including several in Summerlin West, the MPC’s newest region—as well as the opening of 15 new stores and restaurants in Downtown Summerlin. THE RIDGES 8% INCREASE IN NEW HOME SALES 17% INCREASE IN PRICE-PER-ACRE OF RESIDENTIAL LAND 15 NEW STORE AND RESTAURANT OPENINGS DOWNTOWN DOWNTOWN SUMMERLIN The Howard Hughes Corporation 2020 Annual Report 9 MASTER PLANNED COMMUNITIES Houston Region Award-Winning MPCs, Exceptional Quality of Life In our Houston region, The Woodlands, The Woodlands Hills, and Bridgeland all performed exceptionally well during 2020.
Load more

Recommended publications
  • Howard Hughes
    Howard Hughes Howard Hughes September 24, 1905 Born Houston, Texas, USA April 5, 1976 (aged 70) Died Houston, Texas, USA Chairman, Hughes Aircraft; Occupation industrialist; aviator; engineer; film producer Net worth US$12.8 bn (1958 Forbes 400) Ella Rice (1925-1929) Spouse Terry Moore (1949-1976) Jean Peters (1957-1971) For the Welsh murderer, see Howard Hughes (murderer). Howard Robard Hughes, Jr. (September 24, 1905 – April 5, 1976) was, in his time, an aviator, engineer, industrialist, film producer and director, a palgrave, a playboy, an eccentric, and one of the wealthiest people in the world. He is famous for setting multiple, world air-speed records, building the Hughes H-1 Racer and H-4 Hercules airplanes, producing the movies Hell's Angels and The Outlaw, owning and expanding TWA, his enormous intellect[1], and for his debilitating eccentric behavior in later life. Early years Hughes was born in Houston, Texas, on 24 September or 24 December 1905. Hughes claimed his birthday was Christmas Eve, although some biographers debate his exact birth date, (according to NNDB.com, it was most likely "the more mundane date of September 24"[2] ). His parents were Allene Stone Gano Hughes (a descendant of Catherine of Valois, Dowager Queen of England, by second husband Owen Tudor) [3][4] and Howard R. Hughes, Sr., who patented the tri-cone roller bit, which 1 allowed rotary drilling for oil in previously inaccessible places. Howard R. Hughes, Sr. founded Hughes Tool Company in 1909 to commercialize this invention. Hughes grew up under the strong influence of his mother, who was obsessed with protecting her son from all germs and diseases.
    [Show full text]
  • Press Release HHC Acquisition of Occidental Assets 2019-12-30
    THE HOWARD HUGHES CORPORATION® ACQUIRES APPROXIMATELY 1.4 MILLION SQUARE FEET OF PREMIUM OFFICE SPACE AND ADDITIONAL LAND FOR COMMERCIAL DEVELOPMENT IN THE WOODLANDS® FROM OCCIDENTAL Acquisition Also Includes 63-Acre Campus in the West Houston Energy Corridor THE WOODLANDS, TX (December 30, 2019) – The Howard Hughes Corporation® (NYSE:HHC) announced today the acquisition of two Class AAA office towers, warehouse space and developable land in The Woodlands®, Texas, from Occidental (NYSE: OXY), providing The Howard Hughes Corporation with highly sought-after, premium office space that will enable The Howard Hughes Corporation to meet ongoing demand in the market. The acquisition increases The Howard Hughes Corporation’s office portfolio within the award-winning master planned community (MPC) by approximately 50%, and reinforces The Howard Hughes Corporation’s standing as the community’s steward and largest stakeholder. The $565 million transaction also includes the acquisition of Occidental’s Century Park campus in the West Houston Energy Corridor—a 63-acre, 1.3-million-square-foot campus with 17 office buildings— which The Howard Hughes Corporation will immediately remarket, in line with its recently announced commitment to sell non-core properties and to focus resources into the growth of its core business of MPCs. In The Woodlands, The Howard Hughes Corporation's acquisition includes the two Class AAA towers rebranded as The Woodlands Towers at The Waterway, which total approximately 1.4 million square feet of office space, and a 125,000-square-foot warehouse. The acquisition also includes 9.3 acres of prime, developable land located in The Woodlands Town Center® bordering The Woodlands Waterway® and fronting Interstate 45 North, providing the opportunity for meaningful future commercial development in the heart of The Woodlands.
    [Show full text]
  • Reading Comprehension
    READING COMPREHENSION 4 Howard Hughes, The Aviator Read the text about the life of the billionaire Howard Hughes. • Then choose the correct answer (A, B, C or D) for questions 1–7. • Write your answers in the spaces provided. • The rst one (0) has been done for you. Howard Hughes, The Aviator by Jennifer Rosenberg Howard Hughes’ Childhood Though he grew up in a wealthy household, Howard Hughes Jr. had diffi culty focusing on school and changed schools often. Rather than sitting in a classroom, Hughes preferred to learn by tinkering with mechanical things. For instance, when his mother forbade him from having a motorcycle, he built one by building a motor and adding it to his bicycle. Hughes was a loner in his youth; with one notable exception, Hughes never really had any friends. Tragedy and Wealth When Hughes was just 16-years old, his doting mother passed away. And then not even two years later, his father also suddenly died. Howard Hughes received 75% of his father’s million-dollar estate; the other 25% went to relatives. Hughes immediately disagreed with his relatives over the running of Hughes Tool Company but being only 18-years old, Hughes could not do anything about it because he would not legally be considered an adult until age 21. Frustrated but determined, Hughes went to court and got a judge to grant him legal adulthood. He then bought out his relatives’ shares of the company. At age 19, Hughes became full owner of the company and also got married (to Ella Rice).
    [Show full text]
  • The Woodlands Bridgeland Summerlin Columbia
    Discover the HHC Investment Opportunity FORWARD-LOOKING STATEMENTS Statements made in this presentation that are not historical facts, including statements accompanied by words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “likely,” “may,” “plan,” “project,” “realize,” “should,” “transform,” “would,” and other statements of similar expression and other words of similar expression, are forward- looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements are based on management’s expectations, estimates, assumptions and projections as of the date of this presentation and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. In this presentation, forward-looking statements include, but are not limited to, expectations about the performance of our Master Planned Communities segment and other current income producing properties and future liquidity, development opportunities, development spending and management plans. We caution you not to place undue reliance on the forward-looking statements contained in this presentation and do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events,
    [Show full text]
  • Premier Retail Shopping Center | Nec Green Valley Parkway & 215 Beltway
    PEBBLE MARKETPLACE PREMIER RETAIL SHOPPING CENTER | NEC GREEN VALLEY PARKWAY & 215 BELTWAY 3960 Howard Hughes Parkway Suite 150 SCOT MARKER JULIE DORNAK Las Vegas, NV 89169 +1 702 836 3782 +1 702 836 3770 T +1 702 735 5700 [email protected] [email protected] www.colliers.com/lasvegas FOR LEASE > LAS VEGAS E WAY PAIUTE GOLF RESORT PAIUT 93 PEBBLE MARKETPLACE 15 95 APEX INDUSTRIAL PARK KYLE CANYON RD KYLE SPRING SILVERSTONE IRON CANYON MOUNTAIN MOUNTAIN 157 GATEWAY RANCH RANCH PROPERTY HIGHLIGHTS GRAND ETONT DR IVE SEVERENCE LANE ALIANTE 15 PROVIDENCE ELKHORNROA D 215 93 N TENAYA WAY TENAYA N S ELKHORN L L AM DEER SPRINGS WAY 95 OSS B SPRINGS E B R L OA V D D W CENTENNIAL PARKWAY LAS VEGAS MOTOR SPEEDWAY 604 N N JONES N P 215 EL DORADO RO ECOS N DECAT N BLVD • Anchored by Smith’s Food & Drug, Wendy’s, Wells Fargo A D BLVD UR W ANN ROAD ANN ROAD N D U S C I RAN A M SHADOW PAINTED DESERT M M LOS I GO DRIVE N O UNION PACIFIC RR O WASHBURN RD N CREEK A PRADOS S L N 5TH STREET ST Bank, and Bank of America N RANCHO REET O R NELLIS AFB W LONE MOUNTAIN ROAD T DEL NORTE E RANCHO 15 ALTA MIRA CRAIG ROAD 573 C L I F F W ALEXANDER R OAD 93 S H N RAINBOW BLVD N RAINBOW BUFFALO DRIVE BUFFALO A D O W NORTH VD S D R AS BL M I 599 G V ART E • Join Starbuck’s, Rubios, Pizza Hut, The Cracked Egg, E DURANGO LAS VEGAS V AS I N L L N W CHEYENNE AVENUE HILLS U TH 574 ER K SUN CITY LAS VEGAS ING JR BLV DESERT SUNRISE Brooklyn Bagel, Jamba Juice, Subway, China Tango and HIGHLAND PALM NORTH LAS VEGAS E Evans Ave SHORES VISTA FALLS VALLEY AIRPORT D
    [Show full text]
  • Summerlin Brochure
    10845 Griffith Peak Drive Suite 160 Las Vegas, NV 89135 BE PART OF SOMETHING BEAUTIFUL SUMMERLIN.COM 7.2020 SOME PLACES JUST Feel like Home It’s all right here. From the simple to the spectacular. From the silence of daybreak to the roar of the crowd. From the glow of The Strip to the awe of Red Rock Canyon. From quiet neighborhoods to buzzing blocks of fashion, dining, sports and entertainment. No matter where you turn, Summerlin presents inspiration in every direction, beckoning you to be part of something beautiful. Reverence Summerlin is 22,500 acres of master-planned perfection just waiting for life’s most beautiful moments. More than 150 miles of trails are carved into this desert oasis, meandering through hundreds of parks and More Planned the most diverse and stunning Perfection selection of homes in the city. for Years to Come. HIKE. BIKE. RUN. EXPLORE. GATHER. APPLAUD. PLAY. BREATHE. Vistas Pool SOME PLACES LET YOU Live out Loud. This is life lived out loud. Outside the box. Outside the lines, defined only by the outstanding backdrop of stunning Red Rock Canyon. With 300+ days of constant sunshine each year, life in Summerlin is as bold, beautiful and brilliant as it gets. Cottonwood Canyon Red Rock Loop SHOP. WORK. EAT. DRINK. Be. Fashionistas, foodies and fun seekers all gather on the bustling city blocks of Downtown Summerlin®, where residences, shops, sports, restaurants, bars and entertainment come together. When this stylish area is fully developed, the 400-acre walkable urban core will be home to even more excitement, as well as retail, office and luxe, high- density, urban-style residences.
    [Show full text]
  • Protected Landmark Designation Report
    CITY OF HOUSTON Archaeological & Historical Commission Planning and Development Department PROTECTED LANDMARK DESIGNATION REPORT LANDMARK NAME: The Angelo and Lillian Minella House AGENDA ITEM: IV OWNER: Ben Koush HPO FILE NO.: 06PL20 APPLICANT: Ben Koush DATE ACCEPTED: Feb-13-06 LOCATION: 6328 Brookside Drive – Simms Woods Addition HAHC HEARING DATE: Feb-23-06 30-DAY HEARING NOTICE: N/A PC HEARING: Mar-02-06 SITE INFORMATION Lot 12, Block 6, Simms Woods Addition, City of Houston, Harris County, Texas. The site includes a historic one-story, concrete block residence and concrete block garage. TYPE OF APPROVAL REQUESTED: Protected Landmark Designation for residence and garage. HISTORY AND SIGNIFICANCE SUMMARY The Minella House is a significant example of modern, residential architecture as it evolved in mid- twentieth century Houston. It is significant because of its unusual all masonry construction, contemporary design by Houston architect, Allen R. Williams, Jr. It is an example of the Century Built Homes, variations on a standark design, of which the Minella House seemed to be most fully resolved. Its owners, Angelo and Lillian Minella, owned and operated a plumbing supply company in the East End for decades. HISTORY AND SIGNIFICANCE Lillian and Angelo Minella were originally from the Boston area. Minella worked as a plumber at 366-374 Washington Street in the 1930s in the Brighton Center, Massachusetts commercial area, which had a large Italian-American population.i As late as 1942 Angelo and Lillian were listed in the Essex County City Directory as living on Stanwood Avenue in Gloucester, Massachusetts.ii The Minellas probably left for Texas shortly thereafter.
    [Show full text]
  • U.S Got Communication Data Off Sunken Soviet Submarine
    GLOMAR, From Al the submerged boats and the naval bases on land. The Washington Post has reported The United States long ago that the Glomar Explorer retrieved at switched to a satellite system, which least two torpedoes with nuclear war- involves submarines .coming up to heads, giving intelligence experts a within 20 feet of the surface and com- rare glimpse of how the Soviets make municating via satellites able to nuclear weapons. pierce the first 20 feet of ocean water The New York Times has said the with a powerful radio beam. The Sovi- Glomar recovered the forward third ets are understood to have moved to of the • submarine, falling to retrieve such a system within the last six any nuclear warheads or the coveted months. code machines that would enable U.S. intelligence experts to unscramble al- most 10 years worth of secret Soviet • messages. Last week, The Times repeated this U.S Got Communication Data version of its story, quoting two broth- ers, Wayne FL and Billy C. Collier, who were Involved in the construction Off Sunken Soviet Submarine and operation of the Glomar Explorer ..,„1 7 7t° but were not aboard the ship during / By Thomas O'Toole Union. This might mean that the the recovery operation 750 miles Washinston Post Eltat Writer United States is no longer able to un- northwest of the Hawaiian island of When the Central, Intelligence derstand the chatter between subma- Oahu. Agency recovered a section of a Time magazine said three weeks rines at sea and their home pods. sunken Soviet submarine in 1974, it "It was a real bonanza," one .source ago that the salvage operation suc- retrieved a detailed description of ceeded in recovering the code ina- close to the CIA said.
    [Show full text]
  • Flying Boat “Spruce Goose”
    ASME International Howard Hughes’ Flying Boat “Spruce Goose” Historic Mechanical Engineering Landmark July 20, 2002 Evergreen Aviation Museum The Captain Michael King Smith Educational Institute In July 1942, the world was at war. America had just lost 800,000 tons of her supply ships to German U-boats. Henry Kaiser, famed industrialist and builder of “Liberty” ships, proposed a fleet of flying The fuselage under construction transports to safely move troops and Adhering to the government mandate not to use materials critical to the war effort (such as steel and aluminum), the Hughes team materiel across the Atlantic. Kaiser constructed the Flying Boat out of wood. Testing new concepts for large-scale hulls and approached Howard Hughes with his control surfaces, plus the incorporation of complex power boost systems, delayed the construction process. idea. Together they formed the Hughes In mid 1944, Henry Kaiser withdrew from the project, and Hughes renamed the seaplane H-4, Kaiser Corporation and obtained an representing his aircraft company’s fourth design. After the war’s end in 1945 criticism of the project mounted. The Flying Boat prototype $18,000,000 government contract to had exceeded the government’s funding allowance and the U.S. Senate formed an construct three flying boats. investigation committee to probe alleged misappropriation of funds. Hughes invested $7,000,000 of his own into the project to keep it going. Hughes and his team of skilled engineers Meanwhile, the Hughes team assembled the Flying Boat in the Long Beach dry dock. Wishing to vindicate himself after a being designed a single hull flying boat interrogated by the Senate committee in Washington, D.C., Hughes returned to capable of carrying 750 troops.
    [Show full text]
  • U.S. Department of Justice Federal Bureau of Investigation Washington
    U.S. Department of Justice Federal Bureau of Investigation Washington, D.C. 20535 June 22, 2021 MR. JOHN GREENEWALD JR. SUITE 1203 27305 WEST LIVE OAK ROAD CASTAIC, CA 91384-4520 FOIPA Request No.: 1432458-000 Subject: DUMMAR, MELVIN Dear Mr. Greenewald: The enclosed documents were reviewed under the Freedom of Information/Privacy Acts (FOIPA), Title 5, United States Code, Section 552/552a. Below you will find check boxes under the appropriate statute headings which indicate the types of exemptions asserted to protect information which is exempt from disclosure. The appropriate exemptions are noted on the enclosed pages next to redacted information. In addition, a deleted page information sheet was inserted to indicate where pages were withheld entirely and identify which exemptions were applied. The checked exemption boxes used to withhold information are further explained in the enclosed Explanation of Exemptions. Section 552 Section 552a (b)(1) (b)(7)(A) (d)(5) (b)(2) (b)(7)(B) (j)(2) (b)(3) (b)(7)(C) (k)(1) (b)(7)(D) (k)(2) (b)(7)(E) (k)(3) (b)(7)(F) (k)(4) (b)(4) (b)(8) (k)(5) (b)(5) (b)(9) (k)(6) (b)(6) (k)(7) 11 pages were reviewed and 11 pages are being released. Please see the paragraphs below for relevant information specific to your request as well as the enclosed FBI FOIPA Addendum for standard responses applicable to all requests. Document(s) were located which originated with, or contained information concerning, other Government Agency (ies) [OGA]. This information has been referred to the OGA(s) for review and direct response to you.
    [Show full text]
  • Historical Perspective Boeing Frontiers / September 2010 11
    e was eccentric and controversial, and wealthy almost beyond measure, a “ I want to be maverick businessman and Hollywood movie producer who in his later years The need for Hbecame a recluse. remembered for But Howard Hughes Jr. also was passionate about aviation, an aerospace pioneer and record-setting pilot who left a legacy of companies and accomplishments that only one thing— shaped the future of Boeing, and of airplanes that advanced aircraft design and flight and are a part of aviation history. my contribution This month marks the 75th anniversary of a record-breaking performance by one of those airplanes, the H-1 Racer. On Sept. 13, 1935, Hughes piloted the H-1 at 352 mph to aviation.” (566 kph) over a measured speed course near Santa Ana, Calif., shattering the existing – Howard Hughes international record of 314 mph (505 kph). It was the H-1 that gave birth to Hughes Aircraft Co., which was established that speed same year. Boeing’s satellite business in El Segundo, Calif., and its helicopter business in Mesa, Ariz., have their roots in the aviation company Hughes founded. But the connection between Boeing and Howard Hughes goes back even further. Hughes was born in Houston in 1905, the son of a wealthy oil industrialist. By 1931, the young Hughes was already a well-known motion picture producer and an emerging pilot with a passion for speed and an eye for accuracy and detail. He admired Charles Lindbergh and had started to make a name for himself as an aviator with a Boeing airplane, the 100A.
    [Show full text]
  • Aviator Howard Hughes Could Have Been a Member of the Sons of Confederate Veterans (SCV)
    Aviator Howard Hughes Could Have Been a Member of the Sons of Confederate Veterans (SCV) By Norm Dasinger The world famous motion picture producer, the creator of the ‘Spruce Goose’ airplane, the inspiration for comic book personality Tony Stark (the father of superhero Ironman), the successful and super wealthy business tycoon, the boyfriend of Katharine Hepburn, the man that set the modern airspeed record of 352 mph in 1935, the speculated financer of the Watergate break-in 1972 , an insane recluse as his life came to a close and best remembered today as the character portrayed by Leonardo DiCaprio in a recent movie, was the great grandson of Confederate General Richard Montgomery Gano. Yes, Howard Hughes was eligible for membership in the SCV! Howard Hughes General Richard Montgomery Gano Great-Grandfather of Hughes Gano, like his great grandson, was rich. He had moved from Kentucky to Texas in 1859 and made it big in the land and cattle trading business. In 1860, he resigned his seat in the state legislature and would soon form the ‘Grapevine Volunteers’ for the Confederate State Army. Their initial assignment would be back in Gano’s home state serving with cavalry General John Hunt Morgan in Kentucky. Eventually, Gano would fight in the Indian Territory (modern day Oklahoma) in the battles of Second Cabin Creek and Poison Springs. After the War, he became a man of God and served as minister to churches in Kentucky and Texas. He and his sons accumulated over 55,000 acres in Texas before he died in 1913. Big Bend National Park was formed with much of Gano family land as its nucleus.
    [Show full text]