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July - August 2014 Issue

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Guam Chamber



2012: A year of mixed results

Frank Whitman

Once again, Guam Business Magazine offers its list of the Top Companies in Micronesia sponsored by Deloitte & Touche LLP and ASC Trust Corp. Readers of the list will note that in the wake of the military buildup slowdown, the global economic challenges and even the government of Guam's cash crisis, an overwhelming majority of the Top Companies participants posted better gross revenues than the previous year. We're happy to be able to offer readers expert commentary on the list and insights from representatives of our sponsors — Joe M. Arnett, tax partner with Deloitte and David J. John, president of ASC Trust Corp. They are also the chairman of the Guam Chamber of Commerce's Armed Forces Committee and a member of the board of directors of the Guam Economic Development Authority, respectively.

While the Top Companies feature is our cover story, this issue might also be considered our hospitality issue. Mar-Vic Cagurangan offers an industry overview, covering key developments in Guam tourism including a sidebar story about a number of new tourist attractions that have sprung up on the island in recent months. She points out that for years the island's only major thrill ride was the Sling Shot, which has recently been joined in that category of attractions by the zip line, Zorb and the rides at the Tagada location.

We are also able to offer readers, in this issue's Economic Outlook, the insights of one of Guam's foremost experts on tourism,
Bartley A. Jackson. In addition to his current positions as president of Hotel Santa Fe and chairman of the Guam Hotel & Restaurant Association, he has been involved in tourism in the Mariana Islands for more than 20 years, the bulk of it as general manager of the Pacific Islands Club, Guam's largest hotel. He is serving his sixth term as GHRA chairman and his 10th as a member of its board of directors. He is also a board member of the Guam Chamber of Commerce, a former board member of the Guam Visitors Bureau and of the Marianas Visitors Authority (during a stint as general manager of PIC Saipan.) Jackson offers good reason to be optimistic about Guam tourism, and also reminds readers of its fragility.

And we include a profile of Tetsuro "Ted" Imamura, the top company executive on Guam of Japan's Ken Corp., the owner of more than a third of Guam's hotel rooms in five of its largest hotels. He has been on Guam now for more than a year and for the first time, he is introduced to island readers.

His position makes him one of the most influential individuals in Guam hospitality, and we think readers will appreciate the opportunity to find out about him and his thoughts on the industry.

We offer, too, an overview of the island's banking industry in Jacqueline Perry Guzman's feature story. She discusses with the island's bankers their latest offerings, the impact of the island's economy as well as the global economy on their business, and their outlook for the coming years.

Our profile of Jennifer Crisostomo highlights one of the rising stars of the Guam business community. She talks about her commitment to her family business as well as to her family. It is easy to see why she was chosen the Guam Chamber of Commerce's 2011 Reina A. Leddy Guam Young Professional of the Year.

Readers will also note, undoubtedly, that nominations are open for the 2012 Guam Business Magazine Executive of the Year. This year's award will mark the 30th year that we have bestowed the prestigious honor. If you know someone that is deserving of the award, please do not hesitate to nominate him or her. And plan on attending the Executive of the Year gala on Jan. 12, 2013 at the Hyatt Regency Guam. It is always fun, and proceeds go to the Guam Chapter of the American Red Cross.



Island Outlook
Talking Shop
Economic Outlook
Economic Outlook - NMI
Photo Review
Media Update
Letters to the Editor

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