After all they did to Murdock, no surprise that Lanai has been sold. But now, in the words of Philip Roth in Portnoy's Complaint, we begin, and it’s an entirely new adventure.

First the PUC was asked to do a one-week approval. Wow. It criticized the application but a quick interim approval. And the Lanai activists, without having met Ellison, are already at work.

This is going to be big news and will feed the media for years, if not forever. Some people really just don’t like the idea of private ownership. It would be better if Ellison talked with them.

Should the people of Lanai be worried? Ellison has on company called Octopus and another called Tentacles and is famous for saying he likes to win but he likes everybody else to lose.

At 67, maybe he's gotten over that but maybe not. He probably spent $500 million and this is going to be his personal project. It's not corporate, it’s him. Maybe he’ll sink big money into it like Murdock, or maybe he’ll try to make a turnaround profit or perhaps do a Kawamoto.

So here's Bill Spencer and me in our first video Spensation on the transmutation of Lanai. Surely, there will be more and soon. This will be everyone's best or worse liked story. I’m betting it’ll make Rail look like a piker.