Remarks by Dr. James S. C. Chao, LEGEND AWARD HONOREE, at National ACE annual Gala

National ACE 2025 Conference Recap:

www.nationalace.org

The National Asian Pacific Islander American Chamber of Commerce (National ACE) hosted its 2025 Annual Conference at the New York Marriott Marquis in Times Square, bringing together over 700 entrepreneurs, small business owners, corporate leaders, and policymakers from across the nation. 

Thank you for this wonderful award. I understand that there are many entrepreneurs who started and own their businesses here this evening.

I want to first of all, congratulate you for your courage, determination, vision. You are contributing to Society. You are creating jobs for your employees.

My colleagues at my company are like my family. I still go to work even today. I really enjoy talking to my younger colleagues. Learning from them. Let them learning from me, having over 60 years of experience in the international shipping field. My wife and family members all helped out in the business throughout their lives.

When I first started my own business, I was already 38 years old. I grew up in China, but had to resettle in Taiwan when I was 21 years old because of the Civil War.

In Taiwan, I worked my way up to be among the youngest sea captain of that time at the age of 29. I took a national examination and scored #1 and got a chance to go to America.

My initial years was very difficult. Because my transcripts were in Mainland China, no school would accept me without a transcript. But, I had an idea I wanted to study management....

I finally got into St. John's University in Jamaica, New York and went to school at night and on weekends. While I was studying for my MBA, I was already planning to start my own business in shipping. I had a chance to go into other fields like real estate. But, I decided my knowledge and expertise was in shipping so I should stick to shipping.

In the beginning, my office was 2 small rooms. One was my office and my secretary was outside. I started out being an Owners' Representative for two companies in Asia. These 2 companies were owned by 2 families whose sons were not old enough to take over. So, I got chance to help them.

In the beginning, it was so hard for me to get business. Only when no one else can solve the problems, then, people would come to me for help.

So, I never afraid of problems. I view problems as opportunities.

To succeed, you must work hard. Shipping is 24/7. But, also need to be innovative, creative. Cannot do the same thing over and over again. Must always think of new ways of doing things.

My first big break came during the Vietnam War. I had a classmate at St. John's University, who got a job at USDA (U.S. Department of Agriculture.) The U. S. Government was shipping rice to Vietnam during the War.

A ton of rice cost about $50/ton. The shipping cost was $55/ton. So, my classmate was trying to reduce shipping cost. He remembered this Chinese guy in shipping. He didn’t remember my name…he called me Charlie Chao.

I flew to Washington to see him. I said I can do shipping for $25. The USDA official thought a bit and said they can only pay $23.50. My cost was lower than that. So, I pretended to think it over but then, I said ok.

The government official was very happy. He said we can sign tomorrow. Bring your staff and we can sign.

At that time, Company was only ME. I was a general without an army! I don’t have anyone to bring with me so I needed time to find someone to accompany me. So, I told them, my schedule is very busy. How about let’s meet in 2 days. They agreed.

I flew back to New York and asked a stevedoring company representative who I dealt with, David O’Connor, to accompany me to Washington. He’s tall, big, good looking – I think Americans feel comfortable with him.

But, that’s how I got started. We became the largest shipper of rice to Vietnam.

Then, when the Bangladesh war broke out…because of split between East Pakistan and West Pakistan, United Nations was looking for a good shipper. US Department of Agriculture recommended me. So, you see, your performance and your reputation are so important. If you don’t perform, you can’t hang on to the business.

Everything was going so well with United Nations business. Then, disaster struck. The ships got caught in war fighting and sank. Fortunately, no one died on the ship. But, I lost everything.

I flew back to Asia; it was a difficult trip as I had to tell my partner, our joint venture lost everything. But, I told him: I will repay every cent of my share even if it takes my whole life. This partner, an older man, was very generous and kind. He sent me four picture frames of the 4 seasons of the year. He said life will have its seasons. I believe in you. You will recover. He forgave my part. I am forever grateful to him. And, I try to be fair and generous to others. There have been countless other setbacks and challenges.

So, to you in the audience who are experiencing entrepreneurial life: Life has its ups and downs. All businesses have cycles, ups and down. We need to be strong, determined, keep on going.

No business can stand still. If stand still, will slip behind. Must always improve, innovate. I feel very blessed to have my late wife helping me, supporting me, raising such a good family. I also feel very grateful to the Lord for his blessings.

Good luck in your life. You will make business bigger and bigger, if you keep trying and never give up!