[Congressional Record Volume 149, Number 79 (Monday, June 2, 2003)]
[Extensions of Remarks]
[Pages E1093-E1094]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    CONGRATULATING PEDRO PALOMO ADA

                                 ______
                                 

                       HON. MADELEINE Z. BORDALLO

                                of guam

                    in the house of representatives

                          Monday, June 2, 2003

  Ms. BORDALLO. Mr. Speaker, I rise today to congratulate Mr. Pedro 
Palomo Ada, who we all know affectionately as ``Pete Ada, Jr.'' for 
being inducted into the Guam Chamber of Commerce's Guam Business Hall 
of Fame.
  Pete Ada, Jr. is an icon of the Guam business community who has done 
many great things for the island of Guam. He is one of Guam's original 
entrepreneurs. His success as a businessman is rooted in his hard work, 
ingenuity, and work ethic, which serves as an inspiration for young 
businessmen and women on Guam. His induction into the Guam Business 
Hall of Fame is a testament to his outstanding career and his 
contributions to our community. I join the Guam Chamber of Commerce, 
our civic organizations, and our island in commending Pete Ada, Jr. and 
in congratulating him on this lifetime achievement.
  Mr. Ada began his business career while at college at Saint Thomas 
Military Academy in Saint Paul, Minnesota. Pete would send shoes and 
other great bargains to Guam for resale in his parents' retail 
business. After college, he served as one of the first Chamorro 
commissioned officers in the United States Air Force and later returned 
to Guam to help with the family business, Ada's Markets. He transformed 
his family's retail business into a household name, and later, into a 
real estate holding company. In the process, he transformed how a whole 
generation viewed business opportunities on Guam. He is a visionary who 
saw the potential for new residential developments, commercial real 
estate developments and new markets. He created opportunities for our 
island and in the process he helped Guam re-define itself from a 
military service economy to a strong private sector economy with a 
robust capital investment sector.
  Pete Ada, Jr. is presently the Chairman of the investment firm he 
founded, Ada's Trust and Investment, Inc. and Chairman of Nanbo Guam, 
Ltd. He is a Director of the Bank of Guam, Pizza Hut of Guam, and 
Pacific Textiles. He owns 18 commercial properties and is responsible 
for developing 28 properties throughout his career.
  As a model citizen, Pete Ada Jr. championed the ROTC program at the 
University of Guam. He has supported the Boy Scouts and KGTF Public 
Television, and he has been active in the Air Force's Civilian Advisory 
Council. He has served as a board member of several government boards, 
including the Retirement Fund, the Guam Visitors Bureau, the

[[Page E1094]]

Guam Memorial Hospital, the University of Guam and the Guam Blue Ribbon 
Education Committee. In addition, he served on the board of the former 
Medical Center of the Marianas. In recognition of his service, he 
received an Honorary Doctor of Law degree in 1983 from the University 
of Guam.
  Pete Ada, Jr. epitomizes the businessman whose success derives from a 
motivation to provide products and services that make his community a 
better place to live, and who has profited as a by-product of that 
dedication. By his induction into the Guam Business Hall of Fame, he 
sets a standard for others to emulate. We congratulate him and his 
proud wife Fe and their family, and we join with all the people of Guam 
in celebrating his achievement.

                          ____________________