- SummerSouth Insider
- Posts
- š Bill Ackman Proposes $900 Million Deal to Increase Stake in Howard Hughes Holdings
š Bill Ackman Proposes $900 Million Deal to Increase Stake in Howard Hughes Holdings
Issue #443 - February 22 2025
John Wu
22 Feb
Dear SummerSouth Insiders!
šExciting News Ahead & We Need Your Support!š
Hello, amazing subscribers! We're gearing up for some thrilling developments and can't wait to share them with you! But here's the thing ā we need a little boost from our most valued members: You! š
Here's How You Can Make a Huge Impact:
šSpread the Word: If you love our daily newsletter, why not share it? Whether it's family, friends, neighbors, or the friendly faces running local businesses ā if you think they'll enjoy our content as much as you do, let them know! Your recommendation means the world to us and helps our community grow.
š Join Us on Facebook: Ready for more engaging content? Simply visit our Facebook page at SummerSouth Insider and hit that 'Like'
and āFollowā button! It's a click away but makes a massive difference. Plus, you'll be in the loop for exclusive updates and conversations!
Your support is the backbone of our journey. Together, let's build a community where everyone benefits from insightful, daily content. Thank you for being a part of our exciting path forward! ššŖ
Funeral Advantage Plan
Thereās a new low cost final expense insurance plan available for seniors between 50-85. This plan can cover all of your final expenses:
ā
burial
ā
cremation
ā
flowers
ā
viewing
ā
caskets
ā
urns, and so much more.
To learn more, watch here.
Download the Free CheatSheet to learn more.
š Weekly Local Events for February 2025
Regular weekly events in or near Summerlin, Las Vegas are listed below.
Visit here to lookup specific venue information or for upcoming and/or non-weekly events on Meetup.
Monday
Monday Classes At Latin Blendz: (Every week on Monday @ 10AM)
Socially Vegas - Monday Night Bowling @ The Orleans Bowling Center: Must arrive/check-in before 7pm; 7 - 10pm (Every week on Monday); COST (CASH Only) $10 for 2 games (includes shoes) COST: $12 for 3 games (includes shoes)
Monday Night TRIVIA at ReBAR, 1225 S Main St, Las Vegas: (Every week on Monday @ 7PM)
Tuesday
Sand Volleyball Intermediate, Rusty and Old Time Players @ Aloha Shores Park (NW), Cheyenne & Buffalo, 7550 Sauer St, Las Vegas: (Every week on Tuesday @ 6 - 8 PM)
Run Drink Las Vegas - Weekly Tuesday Run @ Frankieās Uptown patio: 7PM (Every week on Tuesday), FOLLOW US ON INSTAGRAM @rundrinklv FOR THE LATEST WEATHER/TIMING UPDATES
Wednesday
Business Leads Group - Networking Breakfast @ Summit Restaurant, Eagle Crest Golf Course, 2215 Thomas W Ryan Blvd, Las Vegas: Cost $20 cash, 7 - 8:30 AM (Every week on Wednesday)
Early Risers Toastmasters Meeting (In-Person - Summerlin Egg Works / Online Event: 7 - 8 AM (Every week on Wednesday)
Las Vegas Valley Bicycle Club - Wednesday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Wednesday)
Speakers & Leaders of Summerlin Toastmasters Meeting, Summerlin Egg Works, 2025 Village Center Cir, Las Vegas: 12 - 1:30 PM (Every week on Wednesday)
Thursday
Abundance Business Networking Group Online Event: 7 - 8:30 AM (Every week on Thursday). Please arrive 10-15 minutes early for networking. Steps to access our BNI Onlineā¢ Virtual Chapter Meeting, visit website.
Las Vegas Real Estate Investors Association - Weekly Power Lunch For Real Estate Investors: 11 AM - 1 PM (Every week on Thursday). Request to join here.
Free Salsa Classes @ Feel The Music Dance Studio: 7 - 8 PM (Every week on Thursday). Visit the website to register online.
Summerlin Bitcoin Happy Hour, SG Bar, 9580 W Flamingo Rd, Las Vegas: 6:30 PM (Every week on Thursday)
Coed Soccer - Summerlin: Crossings Park, 1111 Crestdale Ln, Las Vegas: 7:30 - 9:45 PM (Every week on Tuesday/Thursday)
Friday
Find Your Yoga Las Vegas - Flow & Yin W / NoƩ Hilyard @ Yoga Sanctuary: 6 - 7:15 PM (Every week on Friday) View Yoga Sanctuary's full schedule.
Swing Dancing in Las Vegas Vintage and Modern Swing Dances @ The Mint Tavern: 7:30 - 8:30 PM (Every week on Friday)
Saturday
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Find Your Yoga Las Vegas - Saturday Morning Meditation with Practitioner Selina Kelly @ Yoga Kandy, LLC. Cost: Love Donation $5-$10 suggested. 11 - 11:45 AM (Every week on Saturday)
Sunday
Las Vegas Valley Bicycle Club - Sunday Morning Ride @ Einstein Bagels: 9 - 11:30 AM (Every week on Sunday)
Vino Las Vegas Wine & Yacht Club Brunch: 9 AM - 2 PM (Every Saturday and Sunday)
Level 1 West Coast Swing @ 2580 N Rancho Dr, North Las Vegas: 7 - 8 PM (Every week on Tuesday); Drop in Rate is $15, Monthly pass is $50; Register online.
ā½ Las Vegas Gas Prices
š Bill Ackman Proposes $900 Million Deal to Increase Stake in Howard Hughes Holdings
New York billionaire Bill Ackman has submitted a new offer to increase his stake in Howard Hughes Holdings, the developer behind Summerlin in Las Vegas. Ackmanās hedge fund, Pershing Square Capital Management, announced on Tuesday that it had proposed acquiring 10 million newly issued shares of the company for $900 million.
Increased Ownership and Leadership Shift
If accepted, the deal would raise Ackmanās ownership stake in Hughes Holdings from 37.6% to 48%. It would also result in Ackman taking over as chairman and chief executive officer of the company.
The cash investment would allow Hughes Holdings to immediately begin pursuing acquisitions aimed at transforming the company into a diversified holding firm, according to Pershing Square. This shift would mark a significant expansion of the developerās focus beyond real estate.
Vision for a Modern-Day Berkshire Hathaway
Ahead of the announcement, Ackman shared on X (formerly Twitter) that this deal could help create a modern version of Berkshire Hathaway, the multinational conglomerate led by billionaire investor Warren Buffett. Unlike Buffettās early investments, which started with a declining textile company, Ackman noted that Hughes Holdings already has a strong foundation as a profitable real estate business.
Previous Offer Withdrawn
The new proposal replaces a previous offer made by Ackman last month, in which he planned to buy out other shareholders for a total of $1 billion. That offer has now been withdrawn, with the current plan focusing on a strategic shift rather than a complete buyout.
Company Response and Future Plans
Texas-based Hughes Holdings confirmed on Tuesday evening that its board had received the offer but stated there is no guarantee the deal will move forward. Despite the potential leadership change, the companyās principal subsidiary will continue to focus on developing master-planned communities. The firm also confirmed that its strategic direction and senior leadership would remain unchanged under the new structure.
Hughes Holdingsā Real Estate Empire
Hughes Holdings manages projects across multiple states, including Texas, Arizona, Hawaii, Maryland, and Nevada. The companyās crown jewel is Summerlin, a 22,500-acre master-planned community located on the western edge of the Las Vegas Valley. With over 120,000 residents, Summerlin features some of Southern Nevadaās most expensive homes and a network of parks, trails, and community centers.
The company sells land to homebuilders and has developed hundreds of millions of dollarsā worth of projects in the heart of Summerlin, solidifying its place as a major player in Las Vegas real estate.
Historical Ties to Howard Hughes
The companyās roots trace back to its namesake, Howard Hughes, the iconic aviator and business magnate who acquired the land that would become Summerlin in the 1950s. Today, Ackmanās proposed leadership shift could signal a new chapter for the company while maintaining the legacy of one of Americaās most storied entrepreneurs.
š Bishop Gorman Secures Back-to-Back 5A State Titles with 71-59 Win Over Mojave
Tyler Johnson and Jett Washington played pivotal roles off the bench for Bishop Gormanās boys basketball team all season, and their impact was crucial once again in the Class 5A state championship game on Friday. The duo combined for 13 points in the third quarter, helping the second-seeded Gaels pull away from No. 4 Mojave for a 71-59 victory at Cox Pavilion, securing their second consecutive state title.
A Historic Victory for the Gaels
The win not only extended Bishop Gormanās dominance in Nevada high school basketball but also set two new state records:
24th state basketball championship for the program
15th title for head coach Grant Rice
The Gaels finished the season with a 24-5 record, solidifying their status as one of Nevadaās most successful high school basketball programs.
Washington and Johnson Lead the Charge
Off the bench, Jett Washington delivered a standout performance, scoring 21 points and grabbing nine rebounds. His energy and athleticism, honed as one of the stateās top football recruits in the Class of 2026, gave the Gaels a significant boostāespecially in the second half.
Tyler Johnson added 10 points, along with three assists, two steals, and two rebounds before fouling out midway through the fourth quarter. His defensive prowess was equally important, as he helped contain CJ Shaw, Mojaveās top scorer, who finished with 19 points. Johnson, named the 5A Defensive Player of the Year, was instrumental in limiting Shawās effectiveness throughout the game.
Third-Quarter Surge Turns the Tide
With the score tied at 35-35 in the third quarter, Johnson and Washington led a crucial 10-2 run that gave Gorman an eight-point lead. Their contributions on both ends of the floor allowed the Gaels to seize control of the game and build momentum heading into the final quarter.
In the fourth, Gorman extended its lead to double digits as Washingtonās aggressive drives to the basket proved too much for the Rattlersā defense. Despite missing time earlier in the season due to an ankle injury, Washingtonās return bolstered the Gaelsā championship push.
Key Performances Across the Court
Gormanās success wasnāt limited to its bench players:
Nick Jefferson scored 12 points, showcasing his leadership as a senior.
Chris Baudreau contributed 11 points, six rebounds, and two blocks, using his 6-foot-9 frame to dominate in the paint.
Ilan Nikolov added five points during an early run that gave Gorman a commanding 12-3 lead.
Mojaveās Strong Effort Falls Short
The Mojave Rattlers (19-10) fought hard to stay in the game. CJ Shaw led the team with 19 points, despite facing relentless defensive pressure. Isaiah Trotter added 13 points, and Phillip Gordon chipped in nine points in the first half to keep the Rattlers within striking distance.
Mojaveās best stretch came in the first quarter when they responded to an early Gorman run with a 10-0 scoring burst that briefly gave them the lead. However, foul trouble for Shaw midway through the third quarter slowed their momentum, allowing Gorman to capitalize.
A Season to Remember
The Gaelsā only loss with Washington in the lineup came against Roosevelt (California), ranked No. 5 nationally by MaxPreps. The teamās ability to overcome injuries, maintain defensive intensity, and execute when it mattered most made this championship run particularly special.
With another title secured, Bishop Gorman continues its legacy as a powerhouse in Nevada high school basketball, while players like Washington and Johnson have solidified their reputations as game-changers when it matters most.
President Donald Trump removed Air Force Gen. CQ Brown Jr. from his role as Chairman of the Joint Chiefs of Staff on Friday, ending the tenure of a respected military leader who had focused on international conflicts in Ukraine and the Middle East. Brown, the second Black general to hold the position, was known for supporting diversity and equity initiatives within the armed forces.
Reshaping Military Leadership
The dismissal, driven in part by Defense Secretary Pete Hegseth, is seen as part of a broader effort to restructure military leadership by removing senior officers viewed as supporting diversity programs. Brown had previously drawn attention for addressing racial issues in the military, particularly after the death of George Floyd in 2020.
While Trump acknowledged Brownās four decades of service, the decision signals a shift in the administrationās approach to military leadership. Brownās removal, despite broad support from both Republican and Democratic lawmakers, reflects a growing emphasis on aligning military leadership with the presidentās priorities.
Nomination of Lt. Gen. Dan Caine
Following Brownās dismissal, Trump nominated retired Air Force Lt. Gen. Dan āRazinā Caine to serve as the next chairman. Caine, a career F-16 pilot, has served in combat roles in Iraq, worked in special operations, and held a senior position at the CIA. However, he has not held several positions traditionally considered prerequisites for the role, including serving as a combatant commander or a service chief. The president can waive these requirements if deemed necessary for national security.
Further Shake-Ups at the Pentagon
In addition to Brownās firing, two other senior military leaders were dismissed:
Adm. Lisa Franchetti, Chief of Naval Operations, became the second top female officer to be removed by the Trump administration.
Gen. Jim Slife, Vice Chief of Staff of the Air Force, who had previously led Air Force Special Operations Command and served in the Middle East and Afghanistan.
Both officers had distinguished military careers and were regarded as experienced leaders by colleagues and defense experts.
Political Backlash and Concerns Over Politicization
The firings have sparked significant backlash from both military officials and members of Congress. Critics argue that the dismissals threaten the traditionally apolitical nature of U.S. military leadership. Senator Jack Reed of Rhode Island warned that political interference in the military could undermine its professionalism and weaken the principle of civilian control over the armed forces.
Senator Roger Wicker, chairman of the Senate Armed Services Committee, acknowledged Brownās decades of service and expressed hope that a qualified successor would be appointed, though he stopped short of directly criticizing Trumpās actions.
Brownās Legacy as Chairman
Brownās removal ends a historic chapter in U.S. military leadership. His appointment had marked the first time both the chairman of the Joint Chiefs and the Defense Secretary Lloyd Austin were Black, reflecting significant progress in military representation.
Throughout his career, Brown was recognized for addressing racial disparities within the armed forces. In a widely viewed 2020 video message, he spoke about his personal experiences with bias in the military and the challenges of being one of the few Black men in leadership positions.
Future Implications for the Military
With Caineās nomination pending approval, questions remain about the qualifications and experience of Trumpās chosen successor. The firings signal a broader effort by the administration to reshape military leadership and reflect the presidentās priorities. As this restructuring continues, debates over the balance of political influence and military independence are expected to intensify, particularly with the 2024 presidential election approaching.
š° El Cortez Unveils $20 Million Expansion, Honoring Legacy and Embracing Growth
At 83 years old, Kenny Epstein, chairman and CEO of the historic El Cortez hotel-casino in downtown Las Vegas, remains a symbol of positivity and dedication. On Thursday night, surrounded by family, friends, and colleagues, Epstein had every reason to smile as the iconic property celebrated the completion of a $20 million expansion.
The event was marked by a ribbon-cutting ceremony, speeches filled with nostalgia, and a special proclamation from the city of Las Vegas, officially declaring February 20 as āEl Cortez Hotel & Casino Day.ā
A Major Upgrade for a Historic Landmark
The expansion adds nearly 10,000 square feet to the El Cortez, enhancing its offerings while preserving its classic charm. Key additions include:
Two new bars, named Roulette Bar and Showbar
A new high-limit slots area
An expanded section for table games
A noodle restaurant called Hot Noods
A soft opening earlier this month allowed guests to preview the renovations, receiving positive feedback from visitors eager to experience the modernized space.
New Energy and Future Plans
Joe Woody, the hotelās chief financial officer, described the expansion as the ābest projectā the property has completed so far. He hinted at future developments already in the planning stages, signaling that the El Cortezās evolution is far from over.
Adam Wiesberg, the general manager, was surprised by the transformationās immediate impact on the casinoās atmosphere. He noted that the energy on weekend nights has become āmagical,ā surpassing expectations in both guest experience and engagement.
Though there were challenges during the design and construction phases, Wiesberg believes the results exceeded everyoneās expectations. He credited the El Cortezās rich history and reputation for making the expansion resonate emotionally with longtime patrons.
A Legacy Rooted in Las Vegas History
The El Cortez first opened its doors in 1941 and has remained a fixture of downtown Las Vegas ever since. Recognized for its historical significance, the property was added to the National Register of Historic Places in 2013.
During the unveiling ceremony, Mayor Shelley Berkley praised the Epstein family for their contributions to Las Vegas, acknowledging the El Cortez as an enduring symbol of the cityās vibrant past and promising future.
A Bright Future for an Iconic Casino
With this expansion, the El Cortez strikes a balance between honoring its historic legacy and adapting to modern tastes. As the property continues to evolve, its unique blend of authenticity and innovation ensures that it remains a beloved landmark in downtown Las Vegas for years to come.
Summerlin South, NV Demographics
What is the population of Summerlin South?
What are the employment statistics in Summerlin South?
How many households are there in Summerlin South?
What are the median and average incomes in Summerlin South?
How many homeowners and renters are there in Summerlin South?
What is the level of education in Summerlin South?
What is the marital status of Summerlin South residents?
What are the most common means of transportation in Summerlin South?
Methodology & Disclaimers
Demographic data shown in this section was gathered from the latest U.S. Census Bureau release, the 2022 American Community Survey. The information is updated yearly, as soon as new data is made available by the US Census Bureau.
No representation, guarantee or warranty is made as to the accuracy or completeness of information modified or aggregated for specific neighborhoods and/or zip codes.
Zip codes included in this demographic data: 89135
š š Summerlin South - January 2025
*Median Sold Price By Bedroom Count
This is the middle price for which all homes in the area were sold based on the number of bedrooms. Half of all the homes sold were below this price, and half were above.
Visit here to see the entire report.
š ā We Want To Spotlight Your Business!
Would you like us to spotlight your local business in front of thousands of Summerlin South area residents in an upcoming issue of SummerSouth Insider?
We ā¤ļø Local Businesses!
We know our community is brimming with businesses that have fascinating stories and big hearts. If you're a local business owner making waves, crafting unique experiences, or simply putting a smile on our faces, we want to chat with you! "SummerSouth Insider" is eager to shine a light on the unsung heroes of our town. Let's collaborate and let the community know what makes your business special. Send us a message, and let's celebrate the spirit of Summerlin South together!
šSelect an option below:
ā
Own a local Business? Apply to be featured.
š ā We Want Your Feedback!
We read your emails, comments, and poll replies daily.
Hit reply and tell us what you want more of!
Until next time, John Wu.