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On June 23, I introduced Bill
141 - the Employee-Owned Company Law. The public hearing hearing
was held on Wednesday, March 31, 2004.
The legislation is a revolutionary step toward downsizing GovGuam
while giving employees the opportunity to become small-business
people and potentially financially free of GovGuam.
GovGuam employees are hard working people who deserve the opportunity
to build their own wealth, free of the years of mismanagement of
GovGuam.
As a matter of policy, the Legislature ought to downsize the government,
and do it as soon as possible by encouraging the employees to form
their own businesses and bid on the government jobs.
This legislation will change the debate about GovGuam privatization,
outsourcing, reform and reorganization. When government functions
are outsourced, government employees ought to have the opportunity
to share in the profits created by their labor, to become their
own bosses and otherwise share in the benefits of free enterprise.
When government functions are outsourced, government of Guam employees
should be encouraged to form companies and bid on the outsourcing
contracts.
Bill 141
creates a new business designation (EOC) for companies organized
by employees whose jobs will be subject to outsourcing. As
a matter of policy, the bill encourages the affected employees to
form these companies and bid on outsourcing contracts. In
order to facilitate EOC's bidding on outsourcing contracts, Bill
141 makes certain parts of the Procurement Law inapplicable
to EOC's.
The bill also allows EOC employees to -- under certain circumstances
-- remain members of the Government of Guam Retirement Fund.
As an alternative, former employees will have immediate access to
their contributions to the fund. |
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Bob
hands Bill 141 to Deputy Legislative Clerk Susan Gumataotao for
introduction.