Archive for the ‘From Noel M Soria’ Category

  • 03 Aug

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    Serious Concern Addressed to CRA Chairman Larry Cabrera from NM Soria

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    Larry Cabrera laments lawmakers’ inaction on retirees’ proposal Dear CRA Chairman Larry Cabrera: I sympathized with you for the long-term solution you offer the legislature to create “new” Retirement Fund Commission. As one concern retiree, I do not disagree with you to such an oversight commission. Mr. Chairman, I suggest if you could act on the “overdue and pressing matter for the hope of survival of the Retirement Fund”. As a matter of priority, the $300+ million enforcement Read more [...]
  • 01 Aug

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    Which Path to Choose

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    ================================================= Which path to choose THURSDAY, AUGUST 02 2012 00:00   IMPOSING new regulations (poor legislation) after new regulations and many more in the pipeline seemed to be the only solution to the commonwealth’s pressing problems. But it’s not. We have enough laws already. What we need is to implement them. New ones only complicate matters because of their redundancy.  New regulations will just strangle any recovery effort. Until we change Read more [...]
  • 30 Jul

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    Legislative relief is not the solution

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    Here I am once again, our rendezvous here at Marianas Variety or online at www.mvariety.com. As I have mentioned yesterday, here is my letter titled: Legislative relief is not the solution. "Palabra de honor" couple with action is my preference when voting for candidates. No friends, affinity, colleagues and personal promises. Below this email you may read it or the online link here:  http://www.mvariety.com/cnmi/cnmi-news/letters-to-the-editor/48397-legislative-relief-is-not-the-solution.php  Why Read more [...]
  • 30 Apr

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    No To Pension cut by Noel Soria (Retiree)

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    I WAS humbled to receive a recommendation to apply for the Unsecured Creditor Committee. The moment I received the message, in the interest of time, without any hesitation and reservation, I filled out the application and sent it via email. The originals were mailed to the U.S. trustee, Mr. Curtis Ching, in Honolulu, Hawaii. I am not sure whether my application will receive approval but at least I tried. It is truly disheartening to hear about the surprised filing for Chapter 11 bankruptcy Read more [...]
  • 22 Sep

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    From Noel Soria to Angelyn

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    A response from Noel Soria to the posting -  From Angelyn (Retiree) to CRA Members on Aug 26, 2011 : I agree with Angie's sense of urgency message in her email. I am not aware of the 4-point proposal from the RF management. If anyone knows what these are, kindly share them here. Speaking of urgency, please consider my suggestions: (please modify add/deduct from the list below) CRA support to move jurisdiction to the federal purview. The chances of enforcement of judgement is higher. There Read more [...]
  • 21 Sep

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    Gems from the MV blogs and my response…

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    I intend to answer few concerns, in layman’s term, like: the beneficiary derivatives lawsuit and the pension obligation bond (POB). The members and beneficiaries are not precluded in bringing lawsuit on behalf of the Retirement Fund (RF) even prior to PL 17-51. They can do so even without the said law. What makes it so burdensome to the RF service providers was the fact that most of their offices are located outside the CNMI. Any lawsuit, with merits or not, filed in the state court, the service Read more [...]
  • 21 Sep

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    How the Government Failed Its Retirees

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    THIS time I'll be presenting facts from audited financial statements. By the way, this information is publicly available at www.opacnmi.com. The available reports are for fiscal years ending 2009 and 2010. They show the following: • Net assets held in trust means all the properties (assets) owned by the Retirement Fund minus all obligations (debt). The remainder is for the payment of pension benefits. The assets should be greater in value than the debt. If the debt is greater than the assets, Read more [...]
  • 06 Sep

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    There is hope for the Retirement Fund

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    MY fellow retirees, pension beneficiaries and the entire Retirement Fund membership, I know we are troubled. The perilous verdict on our livelihood may happen soon. But do not waver and delay in our actions. Time is of the essence. I beg you to come forward and participate in the discussions. This is very painful, I know. We are at the moment when financial problems are affecting the entire world. I know and feel what many of you are thinking. The dark days will certainly happen if we maintain Read more [...]
  • 02 Sep

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    Learn From our Past Actions

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    I FEEL some kind of guilt as I retract my earlier pronouncement that my third letter would be my last. I realize that personal responsibility recognizes no boundaries when you believe you can do little things that may perhaps pave the way for positive changes. It is not my intention to point fingers as I know it will not produce positive results. Based on the responses to  my three letters, I’ve found out that stopping my campaign to plant the seed of change will not accomplish anything. Read more [...]
  • 31 Aug

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    Embrace Failure

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    “I KNOW. I know it is you again and we don’t like to hear anything you would like to say. You are done. Period! Leave and do not show up here anymore.” “Noel you are the doom and gloom guy. Just disappear please.” Wait, you may miss the nuggets of ideas that flooded my inbox from different places across the globe. Only give me a minute or two and I’ll relay to you the responses I got from concerned citizens that read my two letters to the editor. Who knows, we might learn something. I Read more [...]
  • 30 Aug

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    Ignoring the Pension Liability is Catastrophic for the NMI

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    THE sad news about the harsh fate of the Retirement Fund reverberates in all corners of our community. Our parents or perhaps our grandparents who are fully dependent on the pension program are about to embrace a grim and unfortunate situation. They are supposed to enjoy the remaining years of their lives. What will happen to them? Folks, we can’t deny that a concerted effort to face this community problem is needed. There is no way our parents or grandparents could go back to work. What Read more [...]
  • 29 Aug

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    The Truth That Really Hurts

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    IT is unpleasant news to all of us that the Retirement Fund’s life is expected to last for just three short years. I intend to offer my humble ideas during this difficult time faced by many Fund beneficiaries. I share their frustrations. We cannot escape this reality whether we like it or not; however, we can confront it. The remaining life span of the Fund could be extended if members will share sacrifices, the cause of which are not our fault. Please add or delete from the list below what Read more [...]