A quick trip through the Guam headlines:
- GovGuam Retirement Fund Audit Released – It took a few years, but the audit of GovGuam Employees Retirement Fund is out. Seems the fund has over $1 billion in unfunded liabilities, due to bad investments and the tendency of lawmakers to dip into the fund to cover governmental expenses. Whoops. Guess that wasn’t such a good idea after all guys.
- Yingling Please Innocent – Gerry Yingling appeared in court yesterday and plead innocent to charges he used a government credit card to run up thousands of dollars in personal expenses.
- October 13th Blackout – For the third year in a row, the power went out islandwide on October 13th. Luckily it was back on by the time I returned Monday evening.
- Jayne Flores Calls Out DOE Leaders – Jayne Flores, local journalist and editor of Guahan Magazine, called on five DOE directors and principals to retire because of their ineffectual leadership last Thursday. I am sure none of the five will do such a crazy thing – it’s not their fault the school system sucks, they only work there. Oh wait, they are the long time, entrenched leadership that guides the school system. I guess it is their fault the schools are falling apart and the children are failing so miserably.
- GovGuam Gets $15 Million Settlement – GovGuam got a $15 million settlement from the Bank of Guam last week. Guess how much is going to be dispersed to people in the form of long-awaited tax refunds? That’s right – none of it. In fact, the legislature was banking on that cash to keep the government afloat. Guess I’ll never get my money back from GovGuam.