Making GUItext ignore the rotation of its parent?

I have GUItext parented to an object, (I know I shouldn’t do this, but it’s extremely convenient for what I’m doing.) but it’s moving around the screen when I rotate the object. How do I let the GUItext ignore the rotation of the object it’s parented to? I can’t clamp the GUItext’s coordinates, because I already have another script attached to it that let’s it move around the screen.

The simplest way to do this is to not parent it, but rather make it follow the other object in whatever way is necessary, using a trivial script like:

var target : Transform;
var offset = Vector3(0,0,-1);

function Update()
    transform.position = target.position + offset;