V. I. Business

Political Leaders Respond to Organized Labor--MOU Between VI Government and Interior Department Modified
by VIBusiness Staff

     Governor Charles W. Turnbull announced that he has advised the Senate President Vargrave Richards that a section of the the Memorandum of Understanding between the Virgin Islands and the Department of Interior has been amended. The section pertaining to the Virgin Islands Labor Relations Law has been deleted and replaced. The Chief Executive said that the change in the amendment, requested by the Department of the Interior, inserts language that now allows the Governor, the flexibility to negotiate with the unions through collective bargaining.
     The previous statement in the MOU required the Governor to submit legislation to change the VI law to conform with Federal Labor Relations practice.
      "Recurring General Fund deficits and unfunded current liabilities in recent years have, to a significant extent, been aggravated by collective bargaining agreements, whereby Government of the Virgin Islands employees enjoy greater bargaining rights than those enjoyed by Federal employees. In order to ensure fiscal solvency, the Governor of the Virgin Islands will submit legislation to the Legislature of the Virgin Islands by June 30, 2000 that will conform Virgin Islands public labor relations law, including Act No. 4440, with Federal public labor relations law."
     Labor unions,offended by the effort aimed at eroding their clout in the Territory, reacted strongly against the Agreement.

Local Government Agencies Receive Grant Awards Four Virgin Islands agencies received federal funds to improve services and programs to the Virgin Islands community. Click here for More...

Christensen and CBC Get First Hand Look At Stock Exchange We were invited to New York so that we could gain a better understanding of how the Stock Exchange functions and how important it is to the American and global economy. Click here for More...

GLOBAL CROSSING AND ALCATEL AGREE TO FIVE-YEAR CONTRACT FOR FIBER OPTIC CABLE NETWORK MAINTENANCE
   Alcatel will be supplying technical expertise, experience and manpower to support 12 of Global Crossing's cable stations, in addition to the cable stations operations centre located in London.

  Global Crossing is rapidly developing high capacity fibre-optic undersea cable systems and terrestrial facilities to connect the leading cities in the world, reliably and cost-effectively, and is well on course to developing, owning and operating the world's first integrated global IP-based network to help satisfy the explosive demand for reliable, high-quality transmission capacity.


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GOVERNMENT OF THE U.S.V.I. PLEDGES its COOPERATION WITH SEACROP
In a letter addressed to Dr. Arnold K. Elovaara, President and CEO of SeaCrop, Inc., the Governor of the U.S. Virgin Islands expressed the support of his office and that of the Virgin Islands government in totally approving the plans and concepts for SeaCrop's new multi-million dollar aquaculture facility on St. Croix
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OIL REFINERY TO BEGIN EXPANSION WITHIN DAYS: FINANCING APPROVED FOR HOVENSA COKER PROJECT ON ST. CROIX

Construction of the coker is expected to begin in the second quarter of this year. The target date for completion of the project is the second quarter of 2002. Betchel Corporation will be the primary contractor for constructing the coker under a fixed price turnkey contract.

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SBA ADMINISTRATOR AIDA ALVAREZ TO KEYNOTE ST. CROIX BUSINESS CONFERENCE SBA Administrator Aida Alvarez to present the keynote address for the first annual mid-year conference on St. Croix for the newly opened Women's Business Center in April. The Women's Business Center is a partnership between the SBA and the Saint Croix Foundation. Click here for More...

DELEGATE TO CONGRESS CONTINUES TO MAKE HEADWAY FOR THE VIRGIN ISLANDS

   Delegate Christensen seems to be moving mountains in Washngton, DC these days on behalf of the Territory. Recently, she was instrumental in getting the US Congress to vote favorably on a temporary increase of the rum tax coverover from $10.50 to $13.25 per proof gallon. The U.S. Senate's vote in favor of HR 1180 created new law that will yield millions to the cash-strapped coffers of the Territory. The Delegate also attained other favorable legislation for the Territory to help children without health insurance. She also introduced legislation to revive the charter boat industry. A few days ago, the Congresswoman held a press conference to announce her priorities for the new session 106th Congress.


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RUM TAX BILL UNANIMOUSLY PASSES U.S. SENATE "This is very good news for us," Christensen said. "While the bill's current language would only temporarily lift the cap on rum taxes returned to the Territory, it is indeed a victory and an excellent start to having the cap permanently lifted." Click here for More...

PRESIDENT CLINTON SIGNS BORROWING BILL INTO LAW The legislation, which was signed Thursday evening, is intended to save the V.I. government on the cost associated with the planned borrowing, as well as, to allow the government to meet its current obligations and provide sufficient cash reserves to operate the government. Click here for More...

Political Leaders Respond to Organized Labor--MOU Between VI Government and Interior Department Modified
A controversial provision of the agreement which relates to the Virgin Islands Public Relations Law has been deleted and replaced by a vague and less stringent requirement. The revised statement reads: "Recognizing that salaries and benefits are a portion of overall local government expenditures, the Governor and union representatives are encouraged to pursue, through collective bargaing, reform initiatives to assist in the fiscal solvency of the Government of the Virgin Islands."
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OVER 200 PEOPLE FROM AROUND THE WORLD TO VISIT STX FOR CORAL REEF CONFERENCE Secretary of the Interior Bruce Babbitt will be in St. Croix, U.S. Virgin Islands, on November 2 and 3 to co-chair the third meeting of the U.S. Coral Reef Task Force. The meeting will be held at the Tamarind Reef Hotel in Christiansted. Click here for More...

VI UNIONS FEARFUL OF LOSING SOME OF THEIR AWESOME POWER
"Recurring General Fund deficits and unfunded current liabilities in recent years have, to a significant extent, been aggravated by collective bargaining agreements, whereby GVI employees enjoy greater bargaining rights than those enjoyed by Federal employees. In order to ensure fiscal solvency, the Governor of the Virgin Islands will submit legislation to the Legislature of the Virgin Islands by June 30, 2000 that will conform Virgin Islands public labor relations law, including Act No. 4440, with Federal public labor relations law."

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Borrowing Bill Passes U.S. Senate; Rum Tax Bill Passes in Committee "Now that the our local Legislature has also passed a borrowing bill for the Territory, we can proceed with the business at hand of working through our strategy to eliminate the fiscal deficit before us," said Christensen. Click here for More...

Interior Department and VI Governments Sign Historic MOU for Fiscal Recovery The MOU calls for local government action, which anticipates close cooperation between the Governor and the USVI Legislature. The MOU also contemplates that the Governor will seek the consensus of the USVI Senate on all initiatives generated by the Governor's Fiscal Recovery Task Force. Click here for More...

Interior Department Releases $16 Million for Y2K Solutions in the VI Government Delegate Christensen Expresses Gratitude to Danny Arranza of OIA for Y2K Funding

Delegate Christensen Expresses Gratitude to Danny Arranza of OIA for Y2K Funding

Ferdinand "Danny" Aranza, Director for the Office of Insular Affairs, (OIA) announced $16,103,276 in new Federal assistance is now on its way to the U.S. Virgin Islands. Aranza underscored the importance of this initiative affirming that there was serious concern in Washington and on the U.S.V.I., that the Y2K bug would cause major computer systems to crash and possibly cripple the government's ability to provide key services to the people.
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Virgin Islanders Visit NASA To Learn About Space Exploration And Research Industry After seeing Space Center Houston, both Rivera and Peterson are convinced that the Virgin Islands has an unprecedented opportunity to join the world of advancement and technology and can begin by embracing this industry and expanding the horizons of our young people. Click here for More...

WHITE HOUSE CONDITIONS SUPPORT OF V.I. BORROWING BILL-- Passage linked to enactment of balanced budget/debt reduction plan "While the President is willing to support this legislation and other initiatives to aid in our economic recovery, our local government must demonstrate its willingness to make tough choices to get our fiscal house in order," said Christensen. Click here for More...

Delegate Don Young Warns V.I. to Curb Spending as House Resources Committee Passes Borrowing Bill The measure is intended to save the V.I. government on the cost associated with a planned $100 million financing to meet current obligations and to provide sufficient cash reserves to operate the government. The bill will now go to the House Floor for a vote next week. Click here for More...

Congress to Hold Special Hearing to Reduce Cost of Borrowing for the Territory "Because of the urgency of getting this legislation passed before the VI Government closes on its loan on September 30th, the House Resources Committee has agreed to forgo holding a hearing on the bill and to schedule it for a vote next Wednesday, September 22, 1999", said Christensen. Click here for More...

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