FLASHBACK April 10, 2000-2002

[B]April 10, 2000

Teno: Each gov’t agency must shoulder utility cost[/B]

Due to increasing utilities costs of the government, Gov. Pedro P. Tenorio has underscored the need to change the present system where the budget of the executive branch covers payment of the power, water and sewer needs of all departments and agencies. He said a new scheme in which each branch of government is responsible for its own utilities costs, must be put in place to encourage public offices to conserve energy.

[B]Only FDIC-member banks can come in to CNMI[/B]

Foreign banks that are not a member of the Federal Deposit Insurance Corporation have thin-thread chances of penetrating the strong banking sector in the Northern Marianas unless their assets exceed $100 billion, commerce officials said. The commerce department is also bent in encouraging all banking institutions in the Northern Marianas, even local banks that were grandfather by the existing banking laws, to secure membership with the FDIC.

[B]Grandma wants simple life for Hillblom’s daughter[/B]

At the age of four, Mercedita Feliciano has been swamped with offers to become a commercial model but her grandmother Milagros has simply turned down all of them. Milagros, 50, who acts as guardian for Mercedita, has every reason to keep her granddaughter away from the prying eyes of the public. Too much publicity may just endanger the life of her grandchild who has inherited more than $40 million from the Hillblom Estate.

[B]April 10, 2001

Power shortage looms[/B]

Overall efforts by the CNMI government to lure more investors in the Northern Marianas could be in vain due to a looming power shortage caused by the virtually shelved 60 megawatt power plant project on Saipan. Government officials raised this alarm yesterday after reports claimed Enron has decided to pullout from the multi-million project which would have paved the road for a new 60-MW power plant on Saipan.

[B]NMIRF demands payment of $40M from CNMI gov’t[/B]

The Northern Marianas Retirement Fund will launch an aggressive step to collect the Commonwealth government’s unpaid contributions that have ballooned to about $40 million. Fund Board Chair Vicente Camacho said the government’s continued refusal to settle its financial obligation has, in fact, resulted to multi-million revenue losses in several potential investments abroad.

[B]Senate action on 3-year limit law disgusts Chamber[/B]

Saipan Chamber of Commerce President Anthony Pellegrino yesterday criticized the double-dealing nature of some senators when they voted for the passage of Senate Bill 12-108 last week. SB 12-108 seeks a two-year moratorium on the three year limit law, while a body made up of members from the public and private sector study its impact on the CNMI economy and community.

[B]April 10, 2002

Theme park needs more land[/B]

The Pacific Castle Park and Family Entertainment is working with the Office of the Public Lands for the acquisition of additional four hectares of land in Koblerville that would complete the construction of the multi-entertainment complex. Pacific Castle Park owner and operator Bob Starr yesterday disclosed that he will be infusing an estimated $20 million in fresh investments to complete the entertainment and recreational complex.

[B]Pete A. touts tiered wage system[/B]

Washington Rep. Pete A. Tenorio yesterday endorsed the creation of a tiered wage system in the Commonwealth that is patterned after the American Samoa model-a move that has long been recommended by Saipan Chamber of Commerce president Richard Pierce. What makes Tenorio’s suggestion different, however, is that, while the tiered-wage system will be created locally, he wants the resulting legislation be adopted by the U.S. Congress for it to become a U.S. Public Law.