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Do the math!
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Posted on Aug 20 2004
I’ve been reading the Pagan / Azmar debate for quite some time now and I’m really confused by my fellow Chamorros. There is big money being made here and yet you all are sitting back and practically handing over your house keys, begging to be robbed!
I was looking at the Bank of Hawaii 2003 Economic Report for the CNMI (http://166.122.164.43/jcc/reports/cnmi03.pdf) and it said the entire estimated GNP was only about $557 million. Given that number, the mining project is clearly one big opportunity.
The Economic Report had a lot of other disturbing numbers that showed the majority of people in the CNMI are not exactly living off the fat of the land. So why are you standing by and not demanding a fair deal, especially when, by his own published admission, it has been shown that “at the end of the three-year projection, Ken Moore, Azmar’s only stockholder, gets $40.5 million.” (See http://www.chamorro.com/community/pagan/pagan.html).
From what I can see, insisting that Mr. Moore pay more, and mine Pagan responsibly, is a no-brainer. He can do so and still make a hefty profit. Oh, and those years add up! We are not talking millions my friends; we are talking billions. Billions as in nine little zeroes following that one! That could buy a hell of a lot of college educations for our future CNMI students! Not to mention an end to the medical referral problems.
My other question, given the obvious, is why are Adriano, Crisostomo, and Mendiola in such a hurry to take less? Maybe they don’t need more? Maybe their ancestors were wise enough to protect their money and property for their families rather than handing it over to strangers for a mere one shot 7 percent of net revenues!
Forget about the lost property, the damaged environment and all the other hidden long-term costs to the CMNI that will be paid by others for Mr. Moore’s get rich scheme. Do the math and stand up for yourselves! Call, write, email your representatives and make sure the CMNI gets a fair deal.
Kathy Caine
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