Facing an almost empty amphitheater, Prosser, who worked with CUC for over 13 years, told Variety he will continue to reach out to the people and inform them about his proposal which he believes can help save the islands’ economy.
Among those who showed up were Rep. Francisco S. Dela Cruz, R-Saipan, Peter Castro, Cornely Castro, Felipe Fejeran and former Northern Marianas College instructor Perry Connor.
Prosser said he wanted to talk about the possibility of buying CUC from the government by forming a people’s cooperative.
“It is going to be a long process that may take three to five years. But we got to do it step by step,” Prosser said.
The people have to take control of CUC first, he added.
He said once the co-op is in place, “we can get millions of dollars in federal grants for alternative power sources.”
The people can buy shares at $10 apiece.
“Nobody has ever lost money financing a co-op utility,” he said, citing success stories of co-op utilities in the states.
“Anybody can buy a share. Once people become shareholders, they will approve the by-laws, take control of the management and the operation. The CNMI people will choose the people who will run CUC,” he added.
When CUC starts making money again, the people as shareholders will get dividends, he added.
“It will work,” Prosser said. “I’m not doing this for me. I’m doing this for future of the island. I want the people to realize they can take control of CUC.”
Connor said he came to the forum because he believes that “widespread ownership” of CUC will help ensure accountability.
“If you got more sets of eyes watching and have the right to vote, honesty will have a better chance,” he added.
Dela Cruz said after hearing Prosser’s idea, he will revisit Public Law 16-17, or the CUC Private Sector
Partnership Act of 2008, which contains a cooperative provision.
“Now, it might be a good time to discuss co-op,” Dela Cruz said, adding that like Prosser, he also prefers alternative power sources.
He noted that in the past, there were people who presented alternative power ideas, “but no one listened to them, so we kind of missed the boat.”
