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Marianas Variety Friday - April 16, 1993 Serving CIMMI for 20 Years

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Marianas Variety Friday - April 16, 1993 Serving CIMMI for 20 Years uÌ'ìIVLììSJVY OF HAW*" ' ananas ^Variety^, Micronesia’s Leading Newspaper Since 1972 (m s u » " © Voi. 22 No/24 Saipan, MP 96950 01993 Marianas Variety Friday - April 16, 1993 Serving CIMMI for 20 Years. Fund approves loan to CUC THE NORTHERN Mariana Is­ lands Retirement Fund has agreed to lend $2 million to Common­ wealth Utilities Corp. (CUC) to pay an overdue installment for en­ gines bought from Mitsubishi Heavy Industries and replenish an escrow fund, Tomas B. Aldan fund administrator, said yesterday. In an interview, Aldan said the fund’s board of trustees approved the loan subject to certain terms and conditions. “We have agreed to loan them money in exchange for the quar­ terly assignment of franchise fees to be paid them by MTC as a collat­ eral and a preferred method of pay­ ment for the $2 million,” Aldan said. Micronesian Telecommunica­ tions Corp. pays CUC an average $120,000infranchise fees per quar­ ter, representing 2.5 percent of the company’s gross revenue. CANDIDATES kith· Miss Northern Marianas Beauty Pageant show figures in tha swimsuit portion oftha contest at Hyatt's GSHgans Wednesday. The Retirement Fund board of From left: Victoria T. Tudela, Theresa B. DL. Guerrero, Jennifer M. Fejeran, Tayna C. Befyeu, MarissaAnn Munaand LucredaA. Tudeta. See trustees wants MTC to pay its fran­ story on paga 2. chise fees direct to the fund “W e’re currently reviewing this franchise assignment arrangement In my opinion such a scheme is fair P a y n e b i l l enough, considering that we will in w o n ’t h e l p effect, only be charging seven and a half percent for the loan,” Aldan U S g a r m e n t said. I f CUC agrees to the arrange­ p r o d u c e r s ment, there will be a formal execu­ tion of a franchise assignment agreement between CUC and the TH E D U TY exemption granted fund to the Northern Marianas under Finance director Eloy S. Inos, General Note 3(a) enabled local also CUC director, sought the garment companies to compete fund’s help was sought by Inos with producers in the Far East. after CUC officials were placed on Fenn, Wright & Manson Inc., a alert for a possible default notice New York-based wholesaler of from the financiers of the power women’s and men’s wearing ap­ plant engines. parel, bought a little over 100,000 The semi-annual payment of dozens of garments from Saipan about $1.5 million for engines 7 in 1992, about twice its initial and 8 of power plant Phase n has purchase of 52,500 dozens in been due since March 26. 1990. The two engines were bought for “These goods, which have been a total of $20 million. manufactured in Saipan, would About$5.9millionof the amount otherwise have been purchased is to be paid in US currency while from our traditional suppliers in the Japanese portion is ¿ ou t 2 the Far East,” the company said in billion yen, or $14.3 million. a written statement submitted to The Japanese portion of the the Subcommittee on Trade to oppose HR 997. account was financed by the Ja­ pan Export-Import Bank, which The bill, introduced by Con­ gressman Lewis F. Payne, seeks has recently called Mitsubishi’s attention over the need for CUC to deny duty-free treatment to to make the 175 million yen ($1.5 C N M I goods unless the local million) semi-annual payment. minimum wage is raised to the The funds that are held in es­ federal level and at least 50 per­ crow at Asahi Bank are accumu­ cent of the labor cost is paid to lated over a six-month and could resident workers. be used for the semi-annual pay­ Colin C. Fenn, president of the ment. company, said wage rates in The Mitsubishi-CUC engine Saipan were generally 100 per­ contract is guaranteed by the full cent higher than the rates in other faith and credit of the C N M I gov - island nations throughout the Pa­ emment. The $5.9 million por­ cific Rim. Without the tariff ad­ tion of the account is owed di­ vantage under General Note 3(a), rectly by CUC to Mitsubishi. ?&o Newspaper ^mcks. 2-MARIANAS VARIETY n ew s AND VIEWS -FRIDAY-APRIL 16,1993 FRIDAY, APRIL 16,1993 -MARIANAS VARIETY NEWS AND VIEWS-3 Tudela w ins *93 (MO beauty pageant Spring is coming The day is nearìng - * CROWD favorite Victoria The Chamolinian beauty stands V * ; Taisakan Tudela won the Miss at five feet seven inches, the tall­ Everybody shall be rejoicing CNMI Universe 1993 title at est among the group, and mea­ the 19th Annual Miss Northern sures 36-27-36. She weighs 125 Marianas Beauty Pageant pounds. To the Wedding I'm going Wednesday. The new Miss CNM I Universe, G ifts that I 'l l be bringing Jennifer Muna Fejeran, a last- who also won the Miss Conge­ minute addition to this year’s can­ niality award, has four brothers From the Sala Crystal Wedding Registry I 'll be choosing didates, was crowned Miss C N M I and four sisters and is a graduate A Crystal Present, forever it w ill be gleaming International at the pageant held of Marianas High School. at Hyatt’s Gilligans. Among the prizes for the Miss Tudela and Fejeran w ill repre­ CNMIUniverse are: $1,000schol­ Crystal choice were made sent the C N M I in the Miss Uni­ arship from Micronesian Tele­ verse pageant in Mexico City next To single blessdress. Goodbye. They bade communications Corp., a $1,000 month and in the Miss Interna­ cash award from NMBPA, $ 1,000 Now theirfuture is laid tional contest in Japan either in competition allowance and an­ September or October. other $1,000 appearance allow­ Tudela, a weather forecaster, ance all from NMBPA, a round Gifts were overflowing production assistant and trip ticket to the Miss Universe Chamorro newscaster for KM C V, Whyfflte? Pageant courtesy of Continental Friends & Relatives had their offering was selected from among eight Airlines, complimentary use of a From the Sala Crystal Wedding Registry they had been buying candidates. No decision yet car for one year from Triple J Vicky, the aughter of Jesus and To everybody it was so pleasinga Motors and torphy. Prices go up and down, Inocencia Tudela, was easily a Jennifer, who works as a sales and back and forth, standout evidenced by wild cheers clerk at Hakubotan Enterprises, is Щ Ш Я Я H R / f | and all companies have For the times of your life, gift giving has never been more beautiful than with Sala Crystal. and thundering applause she re­ a petite beauty at four feet· nine on Boy Scout land the "lowest long ceived every time she took the inches, and weighs 90 pounds, distance rates," ramp. continued on page 15 PACIFIC Resort Developmentlnc. Boy Scouts are hesitant to give up It took about three years for the you óay ta ­ has to wait at least a month from the Ladder Beach land. “Now, we Boy Scouts to obtain the deed for sometimes. AtMTC, now for a response on its offer to feel that Ladder Beach is suitable a permanent camping site. we're committed to cóme cm d bee ш a¿ <A o b y ó à i/. Payne.. ' continued from page 1 for camping site and unless we The Boy Scouts Program was № low rates all the time. acquire a 10-hectare land in Ladder cAoico cy? A ffa n o m &m oiied. Beach, which has been designated come up with a finding different first told that its camping site Over the past 2 years, Saipan would not be competitive “The local labor cost require­ as permanent camping site for the from what we have now, we are would be in Pau Pau Beach. When we've lowered our with other producers in the Far ment is without parallel in any C N M I Boy Scouts, this was learned going to stay,” he said. the site was considered a good East. rates by 10% . provision of the tariff laws, is yesterday. According to the district chair­ place for a resort hotel, the pro­ Fenn said the vast majority of discriminatory, and represents an Boy Scouts District Chairman man, the committee would con­ gram was promised it would get a Garapan Shop his company’s purchases were unwarranted interference in the John T . Lizama said an ad-hoc sider the topography, vegetation, place in Obyan Beach instead. 10:00 am - 8:00 pm from the Far East, including Hong manufacturing operations of the 'committee was formed recently to safety and health concerns and the Lizama said the Boy Scouts was Monday - Sunday Kong, China, India, Sri Lanka producers in the Commonwealth,” There's only one choice! Tel: 233-8126/8127 gather input from Boy Scout lead­ cost of developing the site into a given a “strong commitment” at m and the Philippines. Part of the Fenn said. ers, members, and concerned gov­ permanent camping ground, be­ that time that it would have Obyan V S o i t t C a^ ìq C псгогаеэог: San Roque Shop imports from these foreign coun­ He noted that no similar re­ ernment agencies, like the Coastal fore it makes a recommendation. Beach. гугуужжаг.'жжжаг-т.ж:»:»::»1 10:00 am - 9:00 pm tries were shifted to Saipan start­ quirement is imposed on the Com­ Resources Management, about'the In the event the Boy Scouts agree But again, the Obyan Beach MX- Fiesta III - 215 ing 1990.
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