Jaime Morgan Stubbe

Last updated September 04, 2019

Jaime Morgan Stubbe, the last Executive Director of the Puerto Rico Maritime Authority or "Navieras de Puerto Rico', is currently the President of Palmas del Mar, Inc., the real estate developer that owns and operates the Palmas del Mar residential and tourist complex in Humacao, Puerto Rico. He and his wife, artist Jochefi Morgan, live in Guaynabo, Puerto Rico, with their children, Jaime, Regina, and Alejandro.

Palmas del Mar is a golf course resort and residential community consisting of beach resorts. It is located in the municipality of Humacao, Puerto Rico, on the southeast corner of the island.

Education

A 1976 graduate of Colegio Marista in his hometown Guaynabo, Puerto Rico, he obtained in May, 1980 his bachelor's degree at Tulane University in New Orleans, Louisiana, where he was elected president of Tulane's Latin and American Students Association (LASA), before pursuing his law degree, specializing in admiralty, or maritime law.

Colegio Marista de Guaynabo is a private Roman Catholic school in Puerto Rico conducted by the Marist Brothers. It is one of the many Marist schools that take place within 80 countries around the world, being this one the first one to be located in the island of Puerto Rico.

Guaynabo is a municipality in the northern part of Puerto Rico (US), located in the northern coast of the island, north of Aguas Buenas, south of Cataño, east of Bayamón, and west of San Juan. Guaynabo is spread over 9 wards and Guaynabo Pueblo.

Tulane University Private university in New Orleans, Louisiana

Tulane University is a private research university in New Orleans, Louisiana. It was founded as a public medical college in 1834 and became a comprehensive university in 1847. The institution was made private under the endowments of Paul Tulane and Josephine Louise Newcomb in 1884. Tulane is the 9th oldest private university in the Association of American Universities, which consists of major research universities in the United States and Canada. The Tulane University Law School and Tulane University Medical School are considered the 12th oldest and 15th oldest law and medical schools, respectively, in the United States.

Public service

Appointed by the Governor of Puerto Rico, Pedro Rossello in 1993, as Executive Director of Navieras, he was responsible for the privatization of Navieras de Puerto Rico, an entity created in the 1970s when during the first administration of Governor Rafael Hernández Colón the government of Puerto Rico bought out the assets of the largest shipping line serving the mainland United States-Puerto Rico market. The entity never turned a profit in 20 years of operation.

Rafael Hernández Colón was a Puerto Rican politician who served as Governor of Puerto Rico from 1973 to 1977 and 1985 to 1993 for a total of three terms. An experienced politician, Hernández held the record for having been the youngest Governor of the Commonwealth of Puerto Rico to date, having won his first term at the age of 36. Hernández was also the person to have run for governor the most times, a total of five. During his terms as governor, Hernández Colón's administrations were known for trying to invigorate the Puerto Rican economy as well as for defending the political status quo of the island.

Morgan Stubbe subsequently in 1994 was appointed by the Governor to serve as Administrator of the Puerto Rico Economic Development Administration and Chairman and CEO of Puerto Rico Industrial Development Company under Puerto Rico's first Secretary of Economic Development and Commerce, Luis Fortuño, during Governor Pedro Rosselló's first term in office, where he helped fine-tune Puerto Rico's economic development strategy as Congress did away with the multibillion-dollar per year federal tax incentives for Puerto Rico manufacturing activity codified under Section 936 of the federal Internal Revenue Code and helped fashion the transitional wage credit that substituted Section 936, codified as Section 30A of the Code. He co-authored the 1998 Industrial Incentives Act, merged the Puerto Rico Economic Development Administration into the Puerto Rico Industrial Development Company reducing redundancy, cutting operating costs and streamlining the agencies job and investment creation processes. He also served in multiple boards such as Science and Technology (President), Economic Development Bank (Vice-President), Ports Authority, AFICA, Foreign Exports Board, Land Authority and others.

The Puerto Rico Industrial Development Company (PRIDCO) —Spanish: Compañía de Fomento Industrial de Puerto Rico — is a government-owned corporation of Puerto Rico authorized and empowered to induce private capital into Puerto Rico in order to establish trade, cooperatives, and industrial operations in Puerto Rico. As its primary function, PRIDCO is known for providing incentives to both native and foreign companies that either manufacture in Puerto Rico or export from Puerto Rico.

Luis Guillermo Fortuño Burset is a Puerto Rican politician who served governor of Puerto Rico, a territory of the United States of America, and as president of the New Progressive Party of Puerto Rico (PNP) until 2013, served as president of the Council of State Governments during 2012 and served as president of the Southern Governors Association from 2011 to 2012. On 26 June 2011 he announced his plans to run for reelection. He was defeated in the 2012 elections by Alejandro Garcia Padilla.

Pedro Rosselló Governor of the Commonwealth of Puerto Rico

Pedro Juan Rosselló González, is a Puerto Rican physician and politician who served as Governor of Puerto Rico from 1993 to 2001. He was President of the New Progressive Party from 1991 to 1999 and 2003 to 2008, and served as Senator for the District of Arecibo from 2005 to 2008. His son, Ricardo was the 12th Governor of Puerto Rico, who became the first Puerto Rican governor to resign.

Professional life

Prior to entering public service, Morgan Stubbe was an active practitioner of maritime law in Puerto Rico, mostly in the U.S Federal Court. He also counseled corporate clients on real estate and tax matters. After leaving government service, he has reenergized and dramatically expanded the size of the Palmas del Mar community, as president of the real estate and resort development company, Palmas del Mar Properties, Inc,(PDMPI) for almost a decade. PDMPI is the Master Plan developer for this 3,000-acre (12 km²) coastal resort community. He is President of the Board of Directors of Palmas del Mar Utility, Inc which operates this community's water system and also is the President of the Palmas del Mar Architectural Review Board. He was elected in 2007 to the Board of Directors of Triple S Management Corp. (TSM), one of the largest Puerto Rican publicly traded corporations ($1.5Bn in revenues in '07), serves as Vice-Chairman of Seguros Triple S (TSM's Property & Casualty subsidiary); Member of the Board of the Puerto Rico Homebuilders Association since 2000 and Trustee of The Palmas Academy since 2000.

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References

External links

Sources

The Tulane Jambalaya Yearbook, Vol. 85, Bob Kottler, editor

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