Saturday, September 12, 2009

Taking it all in!

Grrr.... finances, finances...I received a letter from the CNMI Tax and Revenue Office stating I am needed to come in and straighten out my 1040 submission.. Hmmm, I wonder why? I asked myself.

I was so curious at the same baffled by what is the problem with my tax submission. I drove up to the Tax & Rev Office, parked, took a deep breath, oh....bare in mind I am not receiving this year, but paying on chapter 2, the first time it happened to me. Anyhow, I went in, picked a number to be seen, when I was called, the attending woman says politely, "good afternoon, how may I help you sir?", I smiled in return and greeted her as well and I responded, I received this letter as I showed it to her, she took one look and said, "oh my, may I get your social security number?" I passed it along verbally and she typed it in, now I started to sweat, her comment gave me a scare. My thoughts on having to make another payment haunted me...She grinned for a moment as she went over the computer screen looking at what's the problem. My sweat continued to downpour from my head, to cheek and other parts of my heated body from the pent up feeling of anticipation.

She said "Mr. Pangelinan, I'm afraid you did not report on your interest received for the year, there are bank interest on a savings account as well your CNMI Retirement Fund interest", she commented. Ok, a sigh of relief. As she wrote down the amount, I came to realize that my RF amount is huge in interest and said to myself, oh my, am I to cover these cost again? How will I do this?

The thought of more hardship rattled my brain. She smiled as she gave me the documet wih the written amount on it, I looked at her in disbelief, I said thank you and walked away. By this time, everything is sinking in. My worries got the best of me and I was taking it all in, I feel like I am on my last string. Quite disturbing... Shoots, I did not ask whether I am to pay for all these? What would my wife feel about the debt I am about to share with her? Damn! I'm in another bind.

Saturday, September 5, 2009

COMMON-WEALTH? In the Biz...(rambling off)

The business climate in the CNMI is taking a downturn come the slow months of tourism ahead. An expected 33% drop in airline arrival seats would cause a severe impact on the Commonwealth. A wise man whom I respect said this to me, "In order for a business in the CNMI to remain in business is the need to capture 40% of their usual inventory, hence we can survive". The play of words in COMMONWEALTH, is in fact best defined of its use when considering the people in a community, in this form, I see it as COMMON-WEALTH for all and not anyone particular.

Hence wealth in common for all, it is not easily justified when not all are striving for the same. Meaning, how can each and every individual achieve wealth if they are not willing to make that needed change in lifestyle? Or take the steps to enriching knowledge through a proper education that in turn will be beneficial in the long run?

Not an easy to respond to, yet we are labeled by many businesses on island as EMO or EFO employees. In the biz of it all, we are facing Federalization. This has caused much of the mixed feelings I am hearing today. Where do investors go? what do they do? Visiting the DHS office on Saipan, their person in charge could not and will not provide an answer due to DHS lack of regulations that will be imposed in the COMMON-WEALTH. The workforce is in a state of confusion, with the labeled local workforce, businesses are forced to look at added cost to insure the transition of employees. I have witnessed many different behavior patterns, oh how I wish this was not true, but reality sets in. I have had numerous local employees in the past, some of which I can entrust responsibilities whereas majority would be the EMO/EFOs. Can a business afford for constant turnaround of employees? With the word "training", the OJT is a costly factor indeed should employees intervals be a major factor in any large or small business.

Then there is the upcoming election. A hundred plus vying for 41 positions, wow, I am ecstatic to see the movement for change, but to some degree it is also frightening that certain individuals running may not have the slightest idea of what the job entails. Now we the people are entrusting individuals with our very own lives, can we afford or even accord a candidate based on family ties and popularity alone? Time for real decisions to be made.

I am not a person who sees our older, experienced politicians as the old guards that need to be changed, but I do see some of them as refined and able to see past personal ventures for the good of the COMMON-WEALTH. There are those that will and can have their points addressed properly when in office as they speak for us.

I have had numerous encounters sitting and speaking with legislators on their views, since I am in business for myself, of course, I wonder where would a small business fit in to survive this inclement business climate. A few I truly admire for their service to the people and most whom I simply disregard.

I for one, believe in my father-in-law, he does not say much, but does a lot to compromise through his actions. I was shocked when I found out he does not draw down his salary for years and contributed to the scholarship program, where I am sure, my brothers (younger) have been recipients for many years fulfilling their educational aspirations. I am not here to address his campaign, but more or less my views on what I believe as I think is an asset to insuring our COMMON-WEALTH is what it stands for. Hi re-election is not an easy one, it is actually a daunting task and I know it is taking a toll on him. Nevertheless, he does not give up and nor should we on candidates who can make the necessary differences in our lives. At least in this post, I place my vote of confidence in my father-in-law Pete P. Reyes to help guide our young politicians should they get into office what are the core values of SERVING the people.

About Me

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Just a simple man who loves and cares for his family. Personal views with life in general, business and challenges in the Commonwealth of the Northern Mariana Islands. Sharing what we have through publications BISON Relations push out for everyone to keep abreast of what's happening in our beloved island home, Saipan.