Flashback – Jan. 2001-Jan. 2003

Jan. 10, 2001

CDA notes modest property foreclosure

Despite the rising number of delinquent loans, the Commonwealth Development Authority has reported that it managed to minimize foreclosure of properties of remiss borrowers who now comprise more than 20 percent of the agency’s overall clientele. However, Executive Director Marylou S. Ada said CDA may still be forced to forfeit properties of clients whose outstanding loans have not been performing in over two years unless they approach the agency and ask for a loan workout. Since the local economy started dipping in 1997 due to the Asian financial crisis, CDA has foreclosed mortgaged property of only seven borrowers who were not able to service monthly loan payment.

Wendy’s files for bankruptcy

Two months after closure of its restaurant on Saipan, the local franchisee of the international fastfood chain Wendy’s has filed for Chapter 7 bankruptcy, claiming debts of over a quarter million dollars. Wendy’s Saipan, Inc. president Charles Jordan filed the papers yesterday at the U.S. District Court following a decision by its board of stockholders last month. The company opened its lone restaurant on the island in 1996, but ceased its operation due to the prolonged economic difficulties confronting the CNMI, which resulted in financial losses for WSI.

Jan. 10, 2002

Pellegrino exits education board

Saipan member Anthony Pellegrino formally stepped down as State Board of Education chair on a memorable note, imparting a strong message on awakening students’ consciousness beyond the perks of a government job. In his final speech during yesterday’s inauguration of new BOE members, the outgoing board chief threw a challenge at his colleagues, saying that though local education has made remarkable strides in recent years, some problems still exist within the system. “One major problem still exists which few of us continue to overlook. And that is the attitude of our students towards the type of employment they desire upon completion of their basic education,” said the long-time BOE member.

NMI awarded $91K in food, shelter funds

The US government chose the Northern Marianas to receive $91,715 in federal funds to supplement the Commonwealth’s food and shelter programs. The selection was made by a National Board that is chaired by the Federal Emergency Management Administration and consists of representatives from The Salvation Army; American Red Cross; United Jewish Communities; Catholic Charities, USA; National Council of the Churches of Christ in the US; and the United Way of America, which will provide the administrative staff and function as fiscal agent. The Board was charged to distribute funds appropriated by Congress to help expand the capacity of food and shelter programs in high-need areas around the country.

Jan. 10, 2003

Legislators hope to resurrect ‘cut work-hour’ bill

House members whose votes failed to boost the passage of the government work-hour reduction bill are still hoping that the House majority will realize the exigency of the government’s cash flow situation and throw its support behind the measure at the soonest possible time. Vice Speaker Manuel A. Tenorio-one of those who opposed the bill-however, maintained that there was no need to rush things. He added that the majority is still waiting for the administration to come out with its cost reduction proposal, which the latter was expected to share yesterday. The administration is eyeing nine different options to reduce government expenditure, according to public information officer Peter Callaghan. The spokesperson declined to name the options, which, he said, Gov. Juan N. Babauta was still discussing with his Cabinet.

Literacy confab participants down 50 percent

Whether it’s the date or the venue, the huge drop in the number of participants to the 2nd annual Literacy and Family Conference left education officials scratching their heads. Registration records showed that only about 150 participants-mostly teachers-attended yesterday’s conference, which was held at Kagman High School. Education deputy commissioner for instruction, curriculum, and assessment Rita A. Sablan, admitted that it was “quiet” this year. “It’s quiet unlike the previous year but I think it’s still doing good. People came and we appreciate their presence.”