In his message before 149 members and guests during the installation dinner at the Hyatt Regency Saipan on Saturday evening, Brennan said for years, the islands did not have a clear strategy on how to best develop the economy.
“In this ‘Gen-X,’ ‘Microwave’ society, we all seem to be looking for a quick fix, but I don’t believe there is a quick fix for the situation we are in,” Brennan said.
He said throughout the heydays of economic growth and the garment industry era, the commonwealth became complacent despite all the warning signs of an impending disaster.
“The islands’ default strategy has been a heavy reliance on the tourism sector but Japan Airlines proved to us that this strategy was not enough. It needs to be supplemented by other sources of growth through diversification,” Brennan said.
Outgoing president and new vice president James T. Arinovski thanked the chamber for the full support he got during his term as president.
Sworn into office by Associate Judge David A. Wiseman were Brennan, Arenovsi, treasurer Michael S. Johnson, secretary Kathryn H. Barry, and board members Mark E. Birmingham, Steve K. Jang, David M. Sablan Jr. and Vincent J. Seman.
Congressman Gregorio C. Sablan was the keynote speaker for the installation dinner.
The chamber also named Vicente Babauta, DFS assistant general manager, as the 2009 Businessman of the Year.
The two other nominees were Arenovski and Philip Mendiola-Long.
Sponsors for the event were Sorensen Media Group, Dial Rent to Own, Joeten Motors, IT&E, DFS Galleria, Pacific Islands Club, Hyatt Regency, Marpac, Saipan Grand Hotel, Pacific Trading Company Ltd., Rota Resort, Palms Resort Saipan, Docomo Pacific, Rainbow Color, Mita Travel and Western Union Money Transfer.
