Fight of the decade? Lopez-Meralco vs. Gloria Arroyo
May 7, 2008
There are too many problems facing the nation which Gloria Arroyo still has to confront and address, yet she zeroes in on wresting management control from the Lopez-Meralco bloc, and even makes it appear that the rising Meralco price is the biggest problem Filipinos face, going to the extent of even calling on the masses to go forth and fight alongside her on the petition of Meralco to the Energy Regulator Commission (ERC).
She, who hardly toes the line of transparency that the Filipino people have been calling for, even calls for transparency in Meralco.
But in the same breath, she insists that she is not fighting the Lopezes, and is merely doing this to ensure lower electricity rates for the Filipinos.
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RICE PRICE UP 25%, April inflation hits 3-year high of 8.3%
May 6, 2008
by MAX ESTAYO: Inflation climbed to its fastest clip in April to a near three-year high, rising by 8.3 percent from a year ago, due to sharp increase in rice prices, the government said yesterday.
The higher than expected increase in prices is putting pressure on the central bank to raise borrowing costs despite the threat that could pose to economic growth.
The price of rice soared in April by nearly 25 percent from a year ago. Overall food prices rose 12 percent.
The April inflation exceeded the Bangko Sentral ng Pilipinas forecast for the month of 6.4 percent to 7 percent and jumped from 6.4 percent in March and 2.3 percent last year.
The last time inflation was at this level, at 8.5 percent, was in May 2005, the April level brought average inflation for the first four months to 6.2 percent, blowing out of the water BSP target for the year of three to five percent.
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Dissatisfaction rising over handling of hunger
May 5, 2008
BY REGINA BENGCO: PUBLIC satisfaction with the way the Arroyo administration has been handling the hunger problem continued to decline even if the number of Filipino families experiencing hunger went down in the first quarter of the year, the March 28-31 survey of the Social Weather Stations showed.
Press Secretary Ignacio Bunye said the lower incidence of hunger indicates that government’s programs have improved the quality of life of Filipinos despite the increases in the prices of commodities.
The SWS survey, which had 1,200 respondents, found 27 percent satisfied and 53 percent dissatisfied with government in ensuring that no family will be hungry, for a net satisfaction rating of -26.
The Arroyo government’s net rating last December was -22.
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Meralco management change target — Garcia
May 5, 2008
Where earlier he categorically denied government’s plan to wrest control of Manila Electric Co., Winston Garcia, president of cash-rich state pension fund Government Service Insurance System (GSIS), openly spoke yesterday of “changing the present management” of dominant power distributor Meralco.
The Lopez family, which has a diverse ownership in media and utility businesses, currently controls the management in Meralco.
Garcia also indicated in a statement yesterday that President Arroyo supports his every move against Meralco.
“I am happy that the President supports my move because we should now really change the present management of Meralco as they hold themselves accountable to nobody despite the many anomalies that are happening at Meralco,” Garcia said in a press statement.
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PBA: Realtors win, snap skid
May 4, 2008
BY NOLI CORTEZ: STA. Lucia Realty made an early statement and repeated it for most of last night.
The result was probably a league record and a cruising 111-97 victory over hapless Welcoat in the Smart PBA Fiesta Conference at the Araneta Coliseum.
The sterling one-on-one defense on the Dragons’ imports paid handsome dividends for the Realtors, enabling them to sustain for the most part their strong start and pull off the win that cut short a two-game losing streak.
“(Coree) Santee usually penetrates and creates opportunities for his teammates and so their (Welcoat’s) plays usually emanate from him so I told (Dennis) Miranda to concentrate on him,” said SLR coach Boyet Fernandez.
“Si ‘Cap” (Dennis Espino) naman ang nag-take charge kay (Marquis) Gainous and they really did a terrific job defending those guys.”
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Rice woes not yet over, GMA warned
May 4, 2008
Angara says more imports needed for lean months
BY JP LOPEZ: ADMINISTRATION Sen. Edgardo Angara yesterday belied President Arroyo’s claim of rice stability as he warned that the current global food crisis that triggered protests all over the world could also destabilize the Arroyo administration.
“Though we have enough rice supply today, we will have to rely on imports to cushion the anticipated rice shortage during the lean months,” Angara said.
Arroyo on Friday said the Philippines has concluded contracts with Thailand, Vietnam, and other Asian countries for 1.2 million metric tons of rice. The volume, she said, is “enough to cover the 10 percent differential which is our production and consumption.”
She said the country is buying more rice only for “buffer stocks.”
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Hanjin’s bribe offer bared; Gloria scolded Mayor
May 2, 2008
Hanjin Heavy Industries and Construction Corp., the South Korean firm embroiled in the controversial construction of condominium units in the forest reserve area in Subic, is in for more serious problems as the company earned the ire of Senate probers again, this time stemming from a reported bribe offer to a local official in Mindanao.
Reports said the Korean firm allegedly offered a P400-million contract to a municipal mayor in Misamis Oriental in exchange for a reversal of his order stopping the construction of a $2-billion shipyard which had not secured the necessary permits.
This came after Senate investigators, led by Sen. Pia Cayetano, Thursday said Subic Bay Metropolitan Authority (SBMA) officials were found to have allegedly committed grave violations in allowing Hanjin to construct two high-rise condominium buildings within its forest reserve area and the firm would likely be facing numerous serious charges.
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‘Gloria’s neglect led to vulnerability to rice cartel’
May 2, 2008
Malacañang has only itself to blame for the country’s “vulnerability” to the dictates of a rice price cartel, the opposition yesterday said amid reports that Thailand has decided to withdraw from the country’s bid for crucial rice supply.
“Beggars can’t be choosers. The country is very vulnerable right now because of the skewed priorities of the Arroyo adminis-tration,” United Opposition (UNO) president and Makati City Mayor Jejomar Binay said.
He noted that the government prioritized projects such as the controversial broadband network deal “where it could get huge kickbacks and opted to import rice rather than invest in rice self-sufficiency.”
UNO spokesman Adel Tamano stressed the Palace has managed to unwittingly unravel the country’s inability to attain self-sufficiency in terms of food supply.
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U.S. STATE DEPARTMENT: Money laundered through Pagcor casinos nationwide
April 30, 2008
The Philippine government has received yet another blackeye through a US State Department country report which pointed to the Philippines as being a haven for money laundering, among other crimes, pointing to “cash smuggling” and money laundering as a “major concern,” stating that many casinos of the Philippine Amusement and Gaming Corp. (Pagcor) “located near small provincial international airports that may have “lax enforcement of cash smuggling” are vulnerable to cash smuggling.
The report also scored the 15 big Pagcor casinos nationwide which it said offered “abundant opportunities for money laundering.”
Pagcor has announced the creation of a gambling city in Metro Manila, which site that will house a giant Las Vegas-style gambling city, was blessed by three Catholic bishops.
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