As we head into the Memorial Day holiday let us take a moment to pause and remember the fallen men and women who gave the ultimate sacrifice for our country for the freedoms and liberties we, as Americans, hold dear. The following words are the last paragraph of remarks made by President Ronald Reagan on Memorial Day at Arlington Cemetery on May 31, 1982: 
"As we honor their memory today, let us pledge that their lives, their sacrifices, their valor shall be justified and remembered for as long as God gives life to this nation. And let us also pledge to do our utmost to carry out what must have been their wish: that no other generation of young men will ever have to share their experiences and repeat their sacrifice. Earlier today, with the music that we have heard and that of our National Anthem — I can’t claim to know the words of all the national anthems in the world, but I don’t know of any other that ends with a question and a challenge as ours does: “Does that flag still wave o’er the land of the free and the home of the brave?” That is what we must all ask."
Enjoy your Memorial Day Weekend!

Your Guam Chamber office will be closed on Monday, May 30th in observance of the holiday. We look forward to serving you on Tuesday, May 31st.
"31 Tips for Successful Employee Management" Seminar
Save the date for the Small Business Seminar with Toshie Ito, Motiva Training & Consulting on THURSDAY, June 30th. Ms. Ito will discuss the various essentials of employee performance management that she has gathered over the past 20 years as a trainer and consultant. Rather than discussing a single topic, she will cover 31 Tips for Successful Employee Management.

Be on the lookout for registration details soon!
The CBWN Pop-Up Shop is Back!
The Chamber Business Women's Network is hosting another Pop-Up Shop Event on Saturday, June 18th at the Guam Premier Outlets.

This event will have great Father's Day Gifts and some fun Summer Shopping accessories for the month.

Table reservations are now open - we look forward to seeing you at this next great event.

Demographics and Entrepreneurship in Guam: Identifying “Startuppers” for Sustainable Development in a Small Island Economy
You are being invited to participate in a research study titled “Demographics and Entrepreneurship in Guam: Identifying “Startuppers” for Sustainable Development in a Small Island Economy”. This study is being conducted by Dr. James Ji, Dr. Schumann, Dr. Austin Shelton, and Myracle Mugol from the University of Guam.
You asked to participate in a brief survey regarding information related to your small business/startup company that started within the last 5 years (beginning May 2017). The data will allow the group to understand current entrepreneurs in the territory of Guam and will provide recommendations for educational and support programs targeting current and potential entrepreneurs on the island to encourage sustainable development and improve the quality of life for island residents.

Deadline for responses is June 13th, 2022. 
Please feel free to contact Dr. Schumann or Dr. Ji at 671-858-2170 or 671-688-9122 or by email at either or  

Applications now available:
2022 - 2023 Dave J. Santos Scholarship
We are excited to bring back this great scholarship opportunity for Juniors and Seniors enrolled at the University of Guam!

The Chamber established this program in honor of the late Dave J. Santos, past Chamber Board Chairman and Guam's 1993 Small Business Person of the Year. A strong advocate of local entrepreneurship, it was Dave's vision to start a scholarship fund to assist business students enrolled in the University of Guam's School of Business and Public Administration.

The program was put on hiatus due to the pandemic but is being offered again starting this Fall. The scholarship is open to full-time Juniors or Seniors enrolled at the UOG School of Business & Public Administration. Students with a genuine interest in promoting entrepreneurship are invited to apply. Call or click the links for more information.

A size standard, which is usually stated in number of employees or average annual receipts, represents the largest size that a business (including its subsidiaries and affiliates) may be to remain classified as a small business for SBA and federal contracting programs. The definition of “small” varies by industry.
Chamber group health plan:
With your Chamber Health Insurance Plan, you will always have access to your electronic Member ID on the Calvo’s SelectCare mobile app. If you haven’t done so already, register/login to your member portal at Download the app from the App Store or Google Play, login, and have an electronic copy of your Member ID in the palm of your hand.

Ask us more about our group Health Insurance Plan!
Call (671) 472-6311 for details.
Chamber Podcast Streaming NOW
on Spotify and YouTube!
We stand with the Action PAC
Do you believe it's time to make a difference in our community? If you want to influence change in our legislature, we encourage your support of ACTION PAC. 

Learn more by clicking on the PAC's news page and engage with the PAC by joining its membership (its free!) or by following and interacting with the PAC on social media! Click on their website for details!

Be a Force for Positive Change! #JointhePAC and #TakeActionGuam
U.S Chamber Updates
Antitrust Bill Would Irreparably Harm Our Economy

This week, a revised version of the antitrust bill, the "American Innovation and Choice Online Act," was introduced to the Senate. 

Why it matters: This legislation would irreparably harm the American economy and innovation. It fails to address bipartisan concerns that it would undermine our national security, cybersecurity, privacy, and international competitiveness—and harm consumers. 
  • Such an approach will fuel further inflation, limit choices, and undermine investment in innovation by injecting regulatory uncertainty into the marketplace at the worst possible time.

Be smart: The bill’s sponsors have rushed ahead intentionally avoiding any hearings to thoughtfully evaluate the bill. American innovators and businesses of all sizes deserve better. 
  • The legislation is too consequential to not have been properly vetted as it seeks to remake an entire tech ecosystem that has made the United States the envy of the world. 

Bottom line: This bill won’t just impact the tech sector—it seeks to upend the role of antitrust to give government sweeping authority to regulate entire industries and micro-manage our economy.

Interest Rates are on the Rise
Interest rates have been historically low since the financial crisis struck in 2007, but that is starting to change.

Why it matters: As inflation has risen, consumers, businesses, and financial markets began anticipating the Federal Reserve would raise rates sharply to curb it. The Fed started in March and will continue to raise rates for the rest of the year.

By the numbers: Because of that anticipation, market interest rates started rising before March. At the start of January:
  • The average rate for a 30-year fixed mortgage was 2.65%. It is now 5.25%.
  •  The average rate for AAA-rated corporate bonds was 2.79%. It is now 4.11%.
  • The 10-year Treasury rate was 1.63%. It is now 2.84%.

Be smart: Borrowing costs for consumers (mortgage rates are a proxy for all consumer borrowing), businesses, and the federal government have risen sharply. 
  • This will continue as long as the Fed keeps raising rates, which could last into 2023 and maybe beyond.

Looking ahead: The hope is that it does not put too much of a damper on the economy to cause a recession.

Go deeper: 
—Curtis Dubay, Senior Economist, U.S. Chamber of Commerce

Articles of Interest: 

Resources & Planning
View Guam SBDC's
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If you would like to vote but are not registered, you can register online at the Guam Election Commission's website. You will need to have either a valid Guam Drivers License or Guam identification card to register electronically. 
Dates to remember:
Guam Primary Election: Saturday, August 27, 2022 [Polls open: 7 am - 8 pm]
General Election: Tuesday, November 8, 2022
[Polls open: 7 am - 8 pm]