I, again, want to say, without this program, I don't think Alaskan trade could survive, so I have a deep interest in its preservation.
Ted Stevens
The Public Record
Ted Stevens was a prominent U.S. Senator from Alaska, serving from 1968 to 2009. A member of the Republican Party, he was known for his influential role in shaping federal policies related to aviation, telecommunications, and infrastructure. Stevens was a key advocate for modernizing the air traffic control system, emphasizing the need for quick action to prevent aviation gridlock. His tenure was marked by significant contributions to Alaska's development and federal funding for various projects in the state. Stevens was the longest-serving senator in Alaska's history and held several leadership positions, including Senate Appropriations Committee Chairman.
I'm very much interested in this program, because living where I do, in an offshore state, we are subject to the Jones Act.
I'm told that, of the past 10 years, nine of the 108 Title XI loan guarantees have defaulted.
I'm further informed that because of this recent bankruptcy added to it, the AMCV, that the total now is $330 million in losses.
I have in mind some sort of an amendment that would say that anyone that did that would forfeit forever their interest in the 90 percent.
Well, the difficulty I have is I think that the Council has responded to an act of Congress that has already been passed.
I am fearful, again, that should this be taken to court on the antitrust concept, we are liable to find a court managing the fisheries off our coasts.
If it is increased next year by 20 percent, the same processors get 90 percent. Is that right?
Well, what about that 10 percent? Why could not you get part of the 10 percent?
Do you believe that the processor holding part of the 90 percent shares has an obligation to remain open to receive the harvesters' product when it is brought to the shore?