Tuesday, April 26, 2005

The Media Machine and Ces Drilon

We should forgive Ces Drilon for being rude to our spokesperson. We should also try to understand why she may want to be an apologist or do lawyering for the YGC group. Who gives Drilon her paycheck?

Last time we looked, none of the 34,000 planholders has an advertising budget that the media moguls lust for.

Even in our hour of anguish, we must try to smile and look at some of her antics:

a) She was trying to probe the strategy of PEP Coalition. That's pretty bad when it would appear that our opponents have to ask their friends in media to do their homework (forgive the pun);

b) She may have betrayed her inner fear when she admitted her surprise about how quickly the coalition was able to organize so quickly -- who wants to know Ces and you had to make that remark????. Usually, rich folks like to feel that they have the game under their control. Yuchengco family members have been texting to their friends that there is a rich and powerful group behind the effort -- that is a bitter joke. (too bad, we are already on to this media spin that they are trying to concoct)

c) She is also mouthing the YGC party line that they may have not done anything illegal nor mismanaged the finances. She was saying that a 7% return was fair. That was not in our contract. How would she feel if ABS-CBN management reduced her salary by 50%. Would that be fair. Obviously, she makes far too much money to share our pain nor even remotely identify with the serious legal and moral issues at stake. Finally, she should show her research before she makes any conclusive or leading statements.

In the US or Europe, with 34,000 planholders being waylaid, a full blown media frenzy would have already been underway. In the US, Martha Stewart went to jail for concealing information and to think she was found guilty of gaining an advantage over fellow speculators. That is sure different from running away from your contractual obligations to simple, modest, and hardworking heads of households saving up for their children's future.

Our children are asking why no coverage in the media has occurred.

It is not a pleasant task to try to explain to 10 year olds on how things work in the real world and how media works. We in the middle class may be simple, and although we are not as wealthy, we are not STUPID! Rest assured we can read (between the lines) and we understand the media game as well as the media moguls do.

Let's hope we get a better shake from Atty. Dong Puno this week!!!

114 Comments:

At Tuesday, April 26, 2005 12:29:00 PM, Anonymous Anonymous said...

I want to be part of the audience in the Dong Puno show. Is this possible?

 
At Tuesday, April 26, 2005 12:35:00 PM, Anonymous Anonymous said...

The behavior of Ms. Drilon is not surprising especially among well-known broadcasters who think that being in the media makes them Gods. Just look at K.S., M.E., and A.C.Jr. it doesnt matter if you are "Kapamilya" or "Kapuso"...in this case "Kalaban" tayo.

 
At Tuesday, April 26, 2005 12:38:00 PM, Anonymous Anonymous said...

It was agonizing and enraging to watch the interview with Ces Drilon last night, a broadcaster who is supposed to be professional and objective.

1. PROFESSIONAL????? Why was she looking at her text messages DURING THE SHOW? Ces, you have never done this in other shows. Why did you do this while talking to Mr. Piccio? You did not seem interested in hearing our side as you kept interjecting comments and questions while he was still trying to make a point.

2. OBJECTIVE???? Did you count how many times she insinuated that Pacific may be legally right but may only be accountable morally and ethically? Ces, unlike many of your previous interviews, you did not do your homework this time (and your unpreparedness showed!). You were choosing your words SO CAREFULLY (bakit, takot ka sa YGC?). When a contract is not honored, isnt that a legal breach of contract? For your info, Pacific is LEGALLY liable ASIDE FROM being liable morally and ethically. As an experienced broadcaster who is supposed to have business sense, you can AND SHOULD see this.

Dont give us the spin about being grateful for the 7% interest. In the 1990s, interest was double-digit. That's why banks could offer double your money for 5-yr placements. That is a NET INTEREST OF 13%! Exchange rate then was way below the rate now. Purchasing power was much higher then. Pacific is offering us 7% and you want us to be grateful??? On hindsight, dapat nag-place na lang kami sa 5-year placements. Dapat sana wala kaming problema ngayon tulad ng binibigay nila sa amin at di hamak na mas malaki ang makukuha namin kaysa sa 7% consuelo de bobo ng Pacific.

And shame on you for asking why we invested in a "good-to-be-true" product? And insinuating that we bought because we knew that tuition would skyrocket, thereby making money out of it. Our PEP plans at the time we bought them were not "too good to be true". We bought before the Asian Crisis and we bought NOT FOR SPECULATION. We would never have speculated on our children's futures. We bought to SECURE THEM EVEN WHEN WE WERE NO LONGER AROUND. That was the promise of Pacific Plans then, that they would pay, NO MATTER THE COST, the tuition when the time came.

Let me ask Pacific: Had I borrowed from RCBC to buy a house or car in the 1990s and used the same lame excuse you are using, that I have no money to pay because after the Asian Crisis, interest rates skyrocketed beyond what I thought it would be at time of borrowing, do you think my excuse is reasonable?

While it is also true that many original planholders sold plans at the secondary market and many current planholders bought from that secondary market, it is not true that Pacific had no hand in this. They GRACIOUSLY accommodated those deals and re-registered the plans under the names of the new owners. In other words, that thriving market was acceptable to Pacific. They knew that by allowing purchases in the secondary market, it meant potential liabilities could increase as the availing periods gets pushed further into the future. WHY DID PPI NOT PUT A STOP TO IT?

If selling trad plans was stopped in 1992 they should have negotiated to buy out the original planholders then at some reasonable amount instead of allowing its resale to buyers and allowing transfers? Why wait till 2005 to act? They are now using a provision in our contracts that they cannot be held liable when there is a gov't regulation that adversely affects them and which is not under their control. Why did they not use this clause to buy out the original planholders way back in 1992? Why use this spiel only now?

LIFETIME PLANS planholders, look and see if your fixed value plans and other similar plans have that clause as well. In future, you may be in danger also of them using that clause to renege on obligations to pay out to you.

 
At Tuesday, April 26, 2005 12:54:00 PM, Blogger mlac said...

Anybody who wants to be a part of the audience at Dong Puno Live on thursday kindly text Leo - 09194235789 or chit - 09156571822 for details.

 
At Tuesday, April 26, 2005 12:54:00 PM, Anonymous Anonymous said...

KADIRIIIII!!!!!! I thought Ces Drilon was one of the respectable broadcasters in the industry. No, she sounded very much like a Ronnie Nathanlielz during you know who's time. YUCK!!!!!!

 
At Tuesday, April 26, 2005 12:59:00 PM, Anonymous MEL said...

To the Yuchengcos and Senior Officers of Pacific:


You dangle on us the 7% interest. What did we buy from you? Time deposit certificates? Money market placements? Didn't we trust you with our meager funds to buy EDUCATIONAL PLANS?

And, you have the temerity to smirk at us? Yet you have no courage to face us. Right, you have all the money to pay people to speak on your behalf.

We are your customers not creditors. In your seminars, don't you teach your sales agents they should treat their customers like kings?

Where in that principle now. You treat us like WE OWE YOU. Excuse me, but it's the other way around- YOU OWE US.

 
At Tuesday, April 26, 2005 1:05:00 PM, Anonymous Anonymous said...

Would Napocor bonds still have value in 2010? Napocor is a losing entity, right?

If at all the bonds will still have any value, won't the Yuchengcos and their brilliant officers scheme their way around and declare they cannot pay us.... again in 2010.

Aawwwwwww......

 
At Tuesday, April 26, 2005 1:10:00 PM, Anonymous Anonymous said...

IT IS VERY IMPORTANT THAT THE REHABILITATION PROPOSAL IS BLOCKED.

Legally, once the rehab plan is approved by the court, there is little that we can do. Look at what happened to the ASB/Luke Roxas creditors -- until now, they haven't been paid and they cannot do anything b/c of the legality of the rehab plan.

STOP THE REHAB PROPOSAL BEFORE IT GETS APPROVED.

 
At Tuesday, April 26, 2005 1:16:00 PM, Anonymous Anonymous said...

i did notice ms drilon using her celpone in the process of interviewing mr piccio. this is the first time i saw her do that.

 
At Tuesday, April 26, 2005 1:18:00 PM, Blogger ceteris paribus said...

In a way, this reminds me of the time when we used to buy the Malaya and the Inquirer during the Marcos years. These days, the only free and independent press is out here in the Internet!

And this paper can't be bought, the president can't call up the Editor and ask for the presses to be stopped. Nor can the reporter be paid to give us smut or twist facts to make them appear to be the truth.

Back then, we were fighting an oppressive dictatorship and their cronies. These days, it is just the corruption of the so-called "pillars of society".

The main difference is, there is no dictator that will be the focal point for our anger. We have had four weak and corrupt presidents. All of whom have perpetuated the crimes of the social elite.

The saying "Shame on you if you fool me once, shame on me if you fool me twice." does come to mind.

Well shame on us filipinos for letting things happen. In the face of all this abuse, what are we going to do about it?

Are we to wait another 20 years to spring up into action?

 
At Tuesday, April 26, 2005 1:28:00 PM, Anonymous Anonymous said...

I am a planholder and still have not availed (2009). I am greatly disappointed with the one-sidedness of the people here favoring the availing planholders. If you stop the rehab plan, then we, the not yet availing planholders, will have NOTHING!!!! If PPI has limited funds and rehab plan is rejected, all availing planholders will be paid and the non-availing will be left hanging. We are 50% of the planholders here and our voice shall also be heard. I would rather have the 7% in 2010 than nothing!!!!!
Please consider us also.

 
At Tuesday, April 26, 2005 1:38:00 PM, Anonymous Anonymous said...

I think the person who wrote the previous comment does not fully understand the case. The fight of the coalition is for all the plans, i.e. availing and unused plans. Stopping the rehab plan means it will be "business as usual". PPI will have to live up to its obligations per the original contract terms and conditions. They will pay the tuition fees, no matter what the price is at the time of availment. So if you will be availing in 2009, PPI will pay you, or the school, whatever the tuition fee will be at that time.

 
At Tuesday, April 26, 2005 1:54:00 PM, Anonymous Anonymous said...

I am NYA(Not yet Availing) planholder. I agree with the original poster. If it is business as usual for PPI, then they have to pay for all availing planholders. But remember, PPI has not been selling fixed terms plans anymore. No more additional income. The 2010 pie is all the money that is left. So what will happen if business as usual is the all availing policy planholders will get their money and by that time, PPI will be insolvent. Company closed. What is in it for us! This will become an unequal distribution to the planholders favoring the availing.

 
At Tuesday, April 26, 2005 2:01:00 PM, Anonymous Anonymous said...

You must be a plant from YGC group. Please think first before you call others selfish... you are the one being selfish. I am myself not availing yet but have more than 4 plans for my children. What makes you think they will pay you in 2010? If they do this now, they will do it again. THE FIGHT IS FOR BOTH THE AVAILING AND THE UNAVAILING PLANHOLDERS.

It is not right for the YGC to back out of its obligation and leave all planholders hanging -- specially the children who need to go to school. They can offer to pay all planholders based on todays' tuition rates and fullfill its full obligation(the full elementary years, high school and college years) under the contract. Calculate how much all these will cost based on todays' rates and pay all the plan holders today, or even on a staggard basis within 3 years -- with some sort of collateral put on escrow account. This way, the tuition does not keep on going up, the plan holders get paid substantially (though not all) of what they need to pay for tuition in the next few years (allows planholders to get some benefit from the plan and plan/prepare for future). This, I think, would be a good compromise. The plan holders get paid, they have enough funds to pay for their children's tuition for the next few years and PPI has put a cap on their tuition expenses and will not be open ended anymore.

Thoughts to consider: Would PPI have shared their profits with the planholders?

 
At Tuesday, April 26, 2005 2:32:00 PM, Anonymous Anonymous said...

I'm still a non-availing planholder and I wrote the post about blocking the rehab plan. I repeat -- STOP THE REHAB PLAN OR YOU WILL FIND YOURSELF FIGHTING WITH ONE HAND TIED BEHIND YOUR BACK.
Ask any lawyer.

 
At Tuesday, April 26, 2005 2:33:00 PM, Anonymous Anonymous said...

I'm still a non-availing planholder and I wrote the post about blocking the rehab plan. I repeat -- STOP THE REHAB PLAN OR YOU WILL FIND YOURSELF FIGHTING WITH ONE HAND TIED BEHIND YOUR BACK.
Ask any lawyer.

 
At Tuesday, April 26, 2005 2:38:00 PM, Anonymous Anonymous said...

I would like to comment about the PRESENT VALUE RATE that was used in the Rehab letter of PPI.

I have one year remaining on my plan. The present value rate on my is 88%. Why, I asked? Since the tuition is pre-paid, the present value rate should be 100%. There is no future value to speak of!!

Hence, each planholder's 'Adjusted Resulting Value in 2004 net of Tuition Support is short of 12%!
Who knows was present value rate PPI used for the succeeding years, i.e., 2nd year on?

Can someone enlighten me on this?

ed cheok

 
At Tuesday, April 26, 2005 2:39:00 PM, Anonymous Anonymous said...

To the non-availing planholders,

I am both an availing (3 elementary plans partially availed up to Gr. 4) and non-availing (3 HS plans).

It is my humble opinion that when we stop the rehab plan of Pacific, it does not mean that it will be business as usual. For one, we have to make sure that the funds diverted to Lifetime Plans be returned to Pacific. The total funds that was originally with Pacific should be compared to the future availments of all plans (trad or non-trad ; edu , pension , memorial). After a thorough evaluation that should include members of the coalition,and it was found out that there will really be a problem serving the plans in the future, all of us traditional planholders should be flexible enough to adjust.

Depending on the result of the evaluation, we may have to agree to 1). a freeze - no more increase in availments using 2004 as the basis ; or 2). an increase is still possible but limited to 5% per year ; or 3). reduce the 2004 availment by 10% and freeze it subsequently, etc.

In the end, all the benefits that will be enjoyed by availing plans should be the same as those for not yet availing plans.

Again, it is critical that we stop the rehan plan proposed by Pacific and get the court, Pacific and the SEC to work with us thru our reps to come out with a well studied plan that includes our ideas.

Again, the allegation that Pacific is not liquid is not totally true. We have to consider the funds that were diverted to Lifetime. In the end, the SEC must cancel the registration of Lifetime Plans and return all assets and liabilities to Pacific as if nothing happened. Then, we start studying the true situation of Pacific.

 
At Tuesday, April 26, 2005 2:44:00 PM, Blogger Sassafras said...

I watched some portions of Ces Drilon at that talk show last night. I think she just tried hard to be the devil's advocate kasi hindi dumating yung taga pacific plans so walang counter opinion. She did say at one point na mahirap yung nagiging discussion nila dahil wala yung supposed to be ay ka-debate ni Mr. Piccio. Then the guest replied na ine-expect nga niyang andun tapos Drilon explained that they called at around 6pm to say they could not make it that day, but offered two other days when they would be free.

Sa tingin ko naman, Ces' questions only made Mr. Piccio and PP planholders' position look better. In a way, parang panggagatong yung mga tanong niya for Piccio to expound even more about why planholders are so enraged with the PP scheme. The ordinary, uninvolved person might say na "at least money back + 7%p.a."---> pero dahil sa mga "ignorant" questions ni Drilon, Piccio got the chance to refute the points and expound on why, precisely, that kind of thinking does not wash. Nung nagtatanong nga si Ces (ng mga sunod sunod na "stupid questions"), I wanted to call up that station and comment that if she was trying to be a devil's advocate, she was not doing a very good job. I don't think she was coached by anyone, I think she went in there prepared to mediate between two contesting parties, but ended up showing her ignorance on a topic she did not prepare well for.

Halimbawa nalang. Her question about planholders buying plans that were "too good to be true" probably just made most planholders mad and more determined to pursue their claim. It also revealed her utter cluelessness on the issue. Kung well prepared siya, she would have known the situation in the early 90s, she would have known the interest rates then, she would have known that there was no way to have foreseen the Asian Crisis nor the DECs deregulation. Isa pa...Di din siguro niya naiintindihan ang ibig sabihin ng "opportunity cost". Wala bang lost opportunity ang paglagak ng pera sa PP? Tulad nga nung sinagot ni Piccio, aba eh kung alam lang namin na 7% ang magiging kapalit, sana ninegosyo nalang namin ang pera at napalago ito. Dihamak na mas malaki sa 7% ang kinita ng pera namin.

 
At Tuesday, April 26, 2005 2:44:00 PM, Anonymous Anonymous said...

Did anyone catch the interview with Ernesto Garcia on ANC News? This was after the Ces Drillon interview.
Well, he said that "we do not deny them the anger nor do we deny them the frustration". In the next breath, he said nothing will change.

So.... this means that they are going to just hunker down and weather the bad publicity until they get what they want (which is approval of the rehab plan). As long as they get that, they do not care about public opinion.

Make no mistake about that. Once the rehab plan is approved, this issue will die down and will be relegated to the sidelines, and they will be parading their faces in society again.

 
At Tuesday, April 26, 2005 2:47:00 PM, Anonymous Anonymous said...

I am a PPI PEP planholder and still paying my other plans (pension, memorial, cremation). Now they transfer it to Lifetime Plans, which is a subsidiary of PPI and now earning money for the fixed value plans.
It is clear that they just want to earn and not to help their planholders. If there is a problem on one of their plans, they will just do something to get away with their responsibility. Why did we trust this company?
When their agents are selling their products, they are using Grepalife, Malayan, RCBC and other Yuchengco owned companies. They are saying we are protected and our children's education are secured. Where is the security now? Why is PPI looking for outside investors. What other YGC members are doing? It only shows they are not concern to their customers.
Look at the PPI website http://www.pacificplans.com
They no longer have the YGC logo that Grepalife, Malayan and RCBC are using. Also "A YGC Member" line is also deleted.
Now they do not want to be identified as YGC member.
Let's make our move bigger. I say NO To YGC. Let's transfer our accounts to other companies. We can no longer trust the YGC.

 
At Tuesday, April 26, 2005 2:51:00 PM, Anonymous Anonymous said...

I agree with the one who posted that all Lifetime Plans assets should be reverted back to the original Pacific Plans before we all evaluate its financial situation. That should be the basis for working out and negotiating a suitable solution for both parties.

I have both availing and not-yet-availed trad plans so I am not supporting this coalition only because I can benefit as an availing planholder. The coalition is trying to address both types of planholders.

Let us work together in a flexible and harmonious manner.

 
At Tuesday, April 26, 2005 2:51:00 PM, Anonymous Anonymous said...

Hey, where do we deposit our contributions?

Also, how do you "vet" the volunteers of each committee? You don't have to post it here, but I sincerely hope there is one. Wouldn't want corporate spies there.

 
At Tuesday, April 26, 2005 2:52:00 PM, Anonymous roxie said...

I am a single mom with a daughter who will be availing in 2 years. If you stop the rehab plan, there should be already our plan in place. Because if it takes forever, funds would have been already dispersed to the availing planholders at current tuition rates. I don't want to sound selfish, but i also need my share of what's left. With what you are proposing, my daughter will be graduating from college already and I would not have a single cent.

 
At Tuesday, April 26, 2005 2:54:00 PM, Anonymous John said...

I remember that when they sell me the plans, they are saying that PPI is subsidiary of Grepalife. Puwede ba nating kausapin Grepalife?

Let us check also this Lifetime Plans. How much money did PPI transfer or invested to this company?

I feel like they really want to get away with their responsibility on the PEP plans.

I agree with the previous post. I say No to YGC.

 
At Tuesday, April 26, 2005 2:56:00 PM, Anonymous Anonymous said...

To my co-planholder asking about the present value.

In Exhibit A of the letter I received from Pacific, they mentioned in Part 1 about the P35,000 (in my case) tuition support that they will release this year. In Part 2, they mentioned about the amount last availed (P80,671 in my case), the number of availments left (3 years in my case), and the Present Value Rate (64%).

I also wonder where they got the 64% present value rate or 36% discount rate in 3 years. This means that more or less the annual discount rate is 12%. Your 88% present value for 1 year confirms that Pacific used a 12% annual rate to discount future payments to today's value. They are using the recomputation of the pre-need price of their proposed new fixed value plan as an excuse to discount.

In their Press Release, Pacific always hold in high regard their 7% annual return until 2010. They keep silent on the fact that before they give the 7% annual return to availing planholders, they will first reduce the amount we are supposed to receive by a bigger rate of 12% annually. I have a background in Finance and whenever we assume a rate for projection purposes, we only use one rate whether or not it favors us.

In the fist place, why the need to compute the present value when we planholders will not receive our remaining availments today. What should be done for availing planholders is to retain the full value of the remaining availments as they come. Then, add the 7% annual return every year until 2010. In my case, the remaining availments will be :
P45,671 for 2005 (P80,671 less the P35,000 tuition support), and P80,671 in 2006 and 2007. The 7% annual return should be applied to : P45,671 (from 2006 to 2010); P80,671 (from 2007 to 2010); and P80,671 (from 2008 to 2010).

For plans with remaining availments that will go beyond 2010, this is the only time that the present value will be computed (present value by 2010). Supposing there will be an availment that will fall in 2011, that availment will be discounted by one (1) year where it will be received in 2010. The discount rate is not needed really as long as the maturity value can be computed. We are more interested in the maturity value.

 
At Tuesday, April 26, 2005 3:03:00 PM, Anonymous John said...

roxie, what we're trying to do right now is for PPI to give us what they promise to us... "Security for the education of our children, no matter what the tuition fee will cost in the future". This is what we paid for.

We should look deeper into this Lifetime Plans strategy of PPI.

I'm a YGC client (Grepalife, Malayan and RCBC). Now I say no to YGC.

 
At Tuesday, April 26, 2005 3:16:00 PM, Anonymous Anonymous said...

With due respect to those who posted messages computing the present and future values (theirs and Pacific's), may I say that these are irrelevant as far as our traditional plans are concerned. Please remember (and you can look this up in your own Pacific contracts) that "... Pacific guarantees to pay, irrespective of cost at the time of availment, the tuition and other standard school fees for enrolment of the scholar..." This was their promise, drafted and printed by them and delivered to us in their contracts. There is NO mention at all about present or future values. Any discussion along this line presumes that you are accepting their move to convert your traditional plan to a fixed value plan.

I, for one, reject this move by Pacific outright. There is nothing in the contract that allows them to do this. Neither was there any attempt by them to negotiate this move with me (nor any other planholder, I daresay.)

So, please don't get caught up in their ploy to compute present values. Read and understand your contracts. Stay the course and get what you paid for: a full guarantee for your child's tuition, no more and no less!

 
At Tuesday, April 26, 2005 3:26:00 PM, Anonymous Anonymous said...

Announcement: We are once more invited at Dong Puno Live on Thursday, Apr. 28 (Taping on Wednesday 1pm). A staff of the show assured us that PPI representatives would be coming in fact they are inviting some sales associates to come to the show. We are inviting planholders to come with us. Kindly txt Leo 0919-4235789 for confirmation if you could join us.

 
At Tuesday, April 26, 2005 4:17:00 PM, Anonymous Anonymous said...

we are not blind and we will not be silenced . na cap na nga ako , at ngayon na pep pa .

kudos to congressman escudero for his effort and initiative regarding the investigation of pep and the yuchengco group . i just hope that it will push through at hindi hanggang salita lang .

let us remain to be vigilant , otherwise mababaon lang ito. sino - sino pa ba ang magtutulungan kungdi tayo tayo lang . huwag natin hayaan sa iba , let us all take part and be apart of this coalition to make an effective move in the realization of our goals .

 
At Tuesday, April 26, 2005 4:18:00 PM, Anonymous Steve said...

I bought my plan from the secondary market, actually from a friend of mine. I asked my money(partial) back from her as her "moral obligation" to me. She made money off the plans already(buying a lot before then selling). I suggest to all who bought through the secondary market to get your money back. These are the people who contributed to all this mess. BTW, my other friend did the same thing and got his money back.

 
At Tuesday, April 26, 2005 4:25:00 PM, Anonymous Anonymous said...

hey , just a question if it's dong puno live on thursday , why taping on wednesday 1 pm ? what for akala ko live ? what , para ma edit tayo at para mabigyan ng advantage ang pep and yuchengco group ! could you please clarify why should a live show be taped ????

 
At Tuesday, April 26, 2005 4:42:00 PM, Anonymous Anonymous said...

It come out in inquirer today that Pacific Plans is citing Section XV of the policy contract which generally states that PPI is not obliged to pay because of legislation or regulation. Regulation implying the tuition fee deregulation. How does this stack up over "... Pacific guarantees to pay, irrespective of cost at the time of availment, the tuition and other standard school fees for enrolment of the scholar..." . Which has more weight? Any lawyers out there?

 
At Tuesday, April 26, 2005 5:00:00 PM, Anonymous Anonymous said...

From another post: "So, please don't get caught up in their ploy to compute present values. Read and understand your contracts. Stay the course and get what you paid for: a full guarantee for your child's tuition, no more and no less!"

I like that phrase -- Stay the course.

 
At Tuesday, April 26, 2005 6:08:00 PM, Blogger Gloria Arroyo said...

leave my friend al alone! he's done nothing wrong!

 
At Tuesday, April 26, 2005 7:02:00 PM, Anonymous MOM said...

I just talked to a lawyer friend.

He said that we should expect the "other" side to plant other legitimate planholders to release statements contrary to what the coalition stands for and cause us to fight and misunderstand each other.

I think it is happening now. Some posters on this topic seem to be contradicting the position of the coalition.

I hope I'm wrong.

Also he said, expect intrigues.

PEP Coalition go! Let's stand together and let them honor the contract.

 
At Tuesday, April 26, 2005 7:57:00 PM, Anonymous Anonymous said...

all pacific pep planholders are invited to attend join tomorrows taping of Dong Puno live ( for thursday show) at 1pm ABS-CBN studio, PPI oficers had confirmed there attendance. Pep coalition with meet at starbucks abs-cbn at 12noon. Pls pass

 
At Tuesday, April 26, 2005 9:25:00 PM, Anonymous WM said...

I have 3 plans. 1 being use now while the 2 others sometime 2009. They deceived us when they transferred the good assets to Lifetime. What are we left with when 2010 comes? Napocor 0 coupon bonds which are Govt. guaranteed. I consider them as JUNCK bonds. The Govt. is privatizing Napocor and when that happens they will have to absorb its huge debt which is about 500 billion with our bonds included. Retired soldiers are restive for they have not receive their pension for years now. Public debt is estimated at 7 trillion to date. World bank study as of 2004 report SSS & GSIS with 1.8 trillion actuarial reserve deficiency. Need I go on to prove that the Govt. is bankrupt, so where in the world will the Govt. get the money to pay us when our bonds mature. Its no longer a question of whether or not the Govt. will default but its more of when ? Without the VAT increase then its next year as the UP economist stated but even with the increase all you get is just an extention of a few more years but definitely not beyond before our junk bonds mature.

So I say bring back the 17 billion of good assets together with its money making products and we will all be paid whether it be now or 5 years from now.

 
At Tuesday, April 26, 2005 10:20:00 PM, Anonymous Anonymous said...

For those joining the "Dong Puno Live" taping tomorrow
noon, a group will be meeting at 11:30 a.m. at
Starbucks, ELJ Bldg., ABS-CBN compound, fronting
Gerry's Grill at Eugenio Lopez Ave. Dong Puno's staff
will meet the group at the Audience Entrance at
12noon. From Starbucks, exit the gate and turn left.
Walk straight until you see the Audience Entrance.
Those with the coalition tshirt, please wear them
tomorrow. For the rest, please wear black. You can
also bring your scholars. And if you know other
people who want to join us, they are very much
welcome. Please forward this information to those who
will be joining the group tomorrow.

I was told that the show wanted a big
audience of planholders, scholars, agents and other
sympathizers.

 
At Tuesday, April 26, 2005 10:44:00 PM, Anonymous mrc said...

Yes, it is true -- the media machine. Money flowed by the thousands. It is so organized that 1 day after our outburst, media wanted to get opinions from the disgruntled planholders. After a few quiet days, newspapers came out banging that RCBC will post positive and X% income higher than last year. Then another day, the newspaper came out that RCBC is waiting for the go signal for BSP to allow it to open 20 more branches. Then today, it will buy 2 more commercial banks and 1 foreign strategic partner to invest in RCBC. All of these news are for IMpress release to counter any negative publicity it is encountering with PPI. It is RCBC's own version of media blitz. It doesn't take a genius to understand it.

Therefore, RCBC and the Yuchengco's planned this all along. RCBC knew this problem long before.

One question, if the reason is because of the lifting of the tuition fee moratorium in 1992, then why only now that it will use it as a flimsy excuse? Is PPI dumb enough to admit that it took them 13 years to analyze the situation?

With SEC, if they know how to compute, given P 2.40 B in funds with say only 100,000 planholders, isn't it it will only come out with P 24,000 per planholder!

Lastly, the 7% is way too far. Inflation is already at 8% so talo agad sa first year pa lang. Also, PPI should have the courtesy to inform us on how much the yield of thos Napocor bonds. For all we know, PPI will earn more than the planholders.

 
At Tuesday, April 26, 2005 10:47:00 PM, Anonymous Anonymous said...

I agree with MOM when she said...

"we should expect the 'other' side to plant other legitimate planholders to release statements contrary to what the coalition stands for and cause us to fight and misunderstand each other."

I agree with Mom. In fact, this is what they will do tomorrow at the Dong Puno show. May dala silang "hakot".

So the coalition audience should be very careful in their dealings with people around them tomorrow.

 
At Tuesday, April 26, 2005 10:48:00 PM, Anonymous Anonymous said...

i have 5 plans. 2 plans are fully availed, 1 plan 2 years to go, 1 plan first availment and 1 plan 2009. maybe m one of the lucky guys. but i am joining this fight cuz i dont want to leave to my children a legacy where 34000 kids are un-educated or under-educated which will lead to higher crime and drug use (with kids out in the street). this fight is more about breaking of contracts by ygc, increase tuition fees, etc. this is our edsa 5 !

 
At Tuesday, April 26, 2005 11:31:00 PM, Anonymous Anonymous said...

Pitiful Ces Drilon. did anybody realize that ces was drunk while doing the interview? An ANC staff was saying that she was drinking and uneasy before the show. Wow , pressure from the top???? really money talks, Ces. How much?

 
At Tuesday, April 26, 2005 11:32:00 PM, Anonymous Anonymous said...

Ces Drilon was either stoned or
drunk during the interview with
our spokesman.
Did you notice her droopy eyes and
her slurred speech?
She may already have a substance
abuse problem. She might be depressed on how bad her career with ABS-CBN is going.
She might have turned to drugs or alcohol to cope.
She used to be one of the stars of
ABS-CBN Channel 2. But now she is
relegated as a newscaster in a low
rating cable channel.
Kaya I fully understand if she could not say "no" to a Yuchengco payola bribe...

 
At Tuesday, April 26, 2005 11:55:00 PM, Anonymous Anonymous said...

I am very, very outraged at the bias of channel 2 (ABS-CBN)! It was sooo obvious which side Ces was in..Also, some of her questions were fishing expeditions (for the other side??). What kind of media people do we have nowadays???!!!

 
At Wednesday, April 27, 2005 1:30:00 AM, Anonymous Anonymous said...

I know that Ces Drilon has friends in the coalition. Perhaps you may want to get her side of the story. Though they could just all be lies. What she did during the show was really disappointing (mild term to use). Obvious na 'wala siya sa sarili'. This was my first time to see her in that state of mind. Walang focus during the interview.

Since the Yuchengco party backed out last minute, she should have made rude remarks about them instead of repeatedly asking Philip Piccio about the 7% interest and the Php50,000 pre-need payment in 1990. What I heard was she was really mad when she was told that they will not show up. What then cooled her down? Your guess is as good as mine!

Sa totoo lang, nahilo ako during the interview. Bulol-bulol na ang pagsalita niya, wala pang continuity yung line of questioning niya. Pasagot pa lang si Philip Piccio, may sasabihin na naman siyang iba.

 
At Wednesday, April 27, 2005 8:39:00 AM, Anonymous Anonymous said...

The YGC group will try their best to "divide and conquer". They will pit availing vs non-availing, exclusive vs. non-exclusive.

Be on your guard and learn to distinguish the fakes and the insincere!!!

 
At Wednesday, April 27, 2005 8:58:00 AM, Anonymous Anonymous said...

Enough about Ces Drillon already.
Some of the things said about her are libelous and we don't want the coalition to be accused of that. That would be a PR windfall for the YGC group.

MODERATOR - I suggest you remove these type of messages from the board.

Let us please go back to the issue of our educational plans and the Yuchengco's!!!

 
At Wednesday, April 27, 2005 9:17:00 AM, Anonymous Anonymous said...

let us put it this way, we wanted to be heard, so we also have to hear the other party! maybe ces' performance that night was a reflection of the insincerity of ppi. her lack of research effect reflected that of ppi's inability to convince us the usefulness of its rehab scam, i mean scheme. for if ppi people were not prepared to go there, why should ces be??? di ba? or maybe they were not also as convinced of what they were supposed to say as we are!!! in other words, they we afraid, so afraid they needed to hide!!!

 
At Wednesday, April 27, 2005 10:07:00 AM, Anonymous Anonymous said...

It was funny that the final comment of Ces was something to this effect, "Why don't you reach a compromise with Pacific Plans so that they would pay for the tuition of your kids like in UST or Ateneo?" Actually this is the whole point we all are driving at. They should pay for the tuition as stipulated in our contract. Also, she was asking Mr. Piccio if we all had profited enough from this venture. The amount we paid during the time we availed of our plan was the actual cost of tuition fees during that time. Also, we could have pooled our money with our friends and bought Pfizer or Nokia bonds at that time.
Suddenly, she was not proficient in English and/or drunk and/or irresponsible enough not to do research on the topic.

 
At Wednesday, April 27, 2005 11:28:00 AM, Anonymous Anonymous said...

ces has always been drunk or dazed in her talk show thats why i never bother watching her. she also has habit of always cutting in when people are talking. sorry, philip, if i were you in that show, i will just stand up and walk out telling her why she keeps stopping you from finishing your sentence and why she is speaking for ppi.

 
At Wednesday, April 27, 2005 11:30:00 AM, Anonymous Anonymous said...

everyone in our class wanted to strangle ces drilon's head because she is on heck of a biased woman.

 
At Wednesday, April 27, 2005 12:07:00 PM, Blogger ceteris paribus said...

What the comments show me is that there is genuine outrage over the knowledge that the media, an entity that is supposed to protect the public good, has allowed itself to become part of the corruption of our society.

 
At Wednesday, April 27, 2005 12:22:00 PM, Anonymous Anonymous said...

Ces Drilon did seem drunk or dazed. She couldn't even ask a simple question without having to take long pauses and stammering. In any case, I think Philip did pretty well in addressing her questions and in communicating our message.

 
At Wednesday, April 27, 2005 12:49:00 PM, Anonymous Anonymous said...

I AM A LIFETIME PLANS PENSION PLAN HOLDER.
Although I sympathize with all of you, there is no way that I will agree to giving up our trust funds for your benefit.
Kami yung lugi dyan!!

 
At Wednesday, April 27, 2005 12:58:00 PM, Anonymous leozafra said...

Tama yung Lifetime pension planholder. Why should he/she allow the trust fund exclusively for the payment of his/her pension plan be used for the trad eduplan? Right said, kaya nga nahiwalay ang Pacific sa Lifetime is for this same reason. Let the trust fund of PEPTrad be used for PEPTrad and not any other Trust Fund.

 
At Wednesday, April 27, 2005 1:41:00 PM, Anonymous Anonymous said...

To the Lifetime Planholder:

I am a Pacific Planholder and also a planholder of 5 memorial plans under Lifetime.

Prinsipio and pinaguusapan dito. Kung ginagago nila ang Pacific planholders, kaya din nilang gaguhin ang Lifetime planholders.

The issue you brought up is precisely the point why the rehab plan as proposed by Yuchengco should be stopped.

How will we know if the trust fund under the original PPI was allocated correctly and fairly? The bottomline is funds and assets were DIVERTED unilaterally to Lifetime without consulting the planholders.

Hindi dapat maglaban ang Pacific at Lifetime planholders. Bukod sa maraming planholders ay parehong may plan sa Pacific at Lifetime, ang dapat managot dito ay si Yuchengco at ang kanyang mga tuta.

Kahit na alam nila ang impact as early as 1992, tuloy parin nilang ginatasan ang PPI noon - mataas na suweldo ng mga officers at declaration ng dividends na napunta sa kanilang bulsa.

Fairness and Justice is not relative. Kung mali, mali! Hindi ito magiging tama kahit na sino pa ang makinabang.

 
At Wednesday, April 27, 2005 1:47:00 PM, Anonymous Anonymous said...

To the Lifetime Planholder:

I am a Pacific Planholder and also a planholder of 5 memorial plans under Lifetime.

Prinsipio and pinaguusapan dito. Kung ginagago nila ang Pacific planholders, kaya din nilang gaguhin ang Lifetime planholders.

The issue you brought up is precisely the point why the rehab plan as proposed by Yuchengco should be stopped.

How will we know if the trust fund under the original PPI was allocated correctly and fairly? The bottomline is funds and assets were DIVERTED unilaterally to Lifetime without consulting the planholders.

Hindi dapat maglaban ang Pacific at Lifetime planholders. Bukod sa maraming planholders ay parehong may plan sa Pacific at Lifetime, ang dapat managot dito ay si Yuchengco at ang kanyang mga tuta.

Kahit na alam nila ang impact as early as 1992, tuloy parin nilang ginatasan ang PPI noon - mataas na suweldo ng mga officers at declaration ng dividends na napunta sa kanilang bulsa.

Fairness and Justice is not relative. Kung mali, mali! Hindi ito magiging tama kahit na sino pa ang makinabang.

 
At Wednesday, April 27, 2005 2:19:00 PM, Anonymous Anonymous said...

lets us all pullout dealings with YGC stop all transactions

 
At Wednesday, April 27, 2005 2:45:00 PM, Anonymous leozafra said...

To the lifetime memorial planholder: The point is hindi natin pwedeng i-compare ang lifetime sa pacific precisely because the products here are different (open-ended vs fixed value). you just refuse to admit that the trust fund specifially for peptrad availment is fast being drained and depleted by skyrocketing tuition fees unlike fixed value plans wherein alam na kaagad ng ph kung magkano tatanggapin nya in the future.

 
At Wednesday, April 27, 2005 2:49:00 PM, Anonymous wmb said...

To the Lifetime Memorial Planholder:

QUESTION: WHY DO YOU HAVE FIVE (5) MEMORIAL PLANS?

YOU DON'T DIE FIVE TIMES.
INVESTOR? SECONDARY MARKET?

 
At Wednesday, April 27, 2005 3:13:00 PM, Anonymous Anonymous said...

Guys, about the 7%, I think it is fair. Compared to CAP, this is already generous. Remember one important lesson in investing - "If it is too good to be true, then it is." I know some of you bought the plans before the deregulation of tuition fee increases took place. But others, bought these plans after tuition increases 100%, 200% or more. And you took the bite?

But we should not blame these policyholders. They only wanted the best for their children. Everybody out there is looking for a good bargain, sometimes ignoring some rules of investments.

Guys, you should go after the government, the SEC, the management and executives of PPI. I also heard from the grapevine that most of the plans were bought by selfish and uncouth salespeople of PPI, of course to earn more commissions, and maybe to qualify for some of the contests and bonuses. Then they sold these plans to other people at 5x, 10x 50x the costs. My God! These people should be incenerated!

And guys, go after the actuaries and accountants who signed their financial statements. These people should have business ethics and strong moral foundations not to give a qualified opinion that the reserves are adequate where in fact, it is as clear as crystal that they were not... 5, 6, 7, 8 years ago. Let these people learn their lessons the hard way!!! Sue them!!!

 
At Wednesday, April 27, 2005 3:18:00 PM, Anonymous Anonymous said...

as a former employee of Pacific, i am also a victim of this move and as such want not only the officers earlier listed herein at the website but also make the previous officers equally accountable for this dastardly act. These officers who have left Pacific when they have bled it dry are: Norman Gonzalez - now with Prudential Plans; Geoffrey Martinez - now with Caritas Health Shield; Manuel Reyes - now with Caritas Health Shield. I too have plans from these two companies (Trad Edu and Health Plan w/ Pension). While we could never know if the principles they have applied in running Pacific Plans have been made the model in their present organizations, I believe it is most prudent for us to go to these offices, where they are at the helm now,and withdraw our investments before we experience the same way our PEPTrad has gone.

 
At Wednesday, April 27, 2005 3:33:00 PM, Anonymous Anonymous said...

gud day!my son is an incoming freshman this june he is born on year 1989 but the PPi attorney said we cant avail of anything until 2010 because yung freeze order b yun or what ever he's saying ay hindi kasama ang sa anak ko kasi ang binibigyan lang nila ng support ay yung mga birth year ay 1988 pababa.
i cant understand!anong gagawin namin e talagang magcocollege na ang anak ko.icoconsider pa daw nila yung case namin kung macoconsider bibigyan but if not wala kaming magagawa kundi sa 2010 na kami macaclaim.
pano makakapagenroll ang anak ko kung ganito ang mangyayari sa plan ko.

 
At Wednesday, April 27, 2005 3:41:00 PM, Anonymous Anonymous said...

"Guys, about the 7%, I think it is fair. Compared to CAP, this is already generous."

What do you mean compared to CAP. CAP hass been paying, delayed as it may be, but they have been paying. My son's tuition for one year in attention has been paid by CAP even if it was delayed.

The owners of CAP have not disowned their company. The owner has allowed himself to be interviewed and has spoken to plan holders.

CAP has not dissolved it's company and said to planholders na "bahala na kayo sa buhay niyo."

 
At Wednesday, April 27, 2005 4:51:00 PM, Anonymous Anonymous said...

Dear Anonymous,

"where they are at the helm now,and withdraw our investments before we experience the same way our PEPTrad has gone"

CAP and Pacific plans are not alone in the dearth. Expect a lot more in the days to come. I don't want to name them here, but just a hint, there was a published AGILE report that enumerates all the companies in trouble.

Unlike what the previous SEC secretary was saying (Mr. Yasay - too bad I once admired him when he was scathing ERAP) - that there is a connivance with some gov't officials and multinational companies to downgrade the "Filipino Invention" (pertaining to Pre-need). This uis not true. The truth is, there are a lot of morons at the top of the helm of private companies and government agencies. Not only stupid, but selfish and apathetic! They should be put behind bars!

The previous SEC secretaries! Pinabayaan ang publiko sa mga naglipanang mga pyramiding scams. Mga walanghiya kayo! Mga pabaya! Mga inutil! Mga tamad! Mga tanga!

Yours,

Anonymous

 
At Wednesday, April 27, 2005 5:10:00 PM, Anonymous Anonymous said...

I watched the interview of Ces Drilon. It seems that she was representing the Yuchengco's. She is a newscaster and should not have biases. I use to have high respect for Ms. Drilon but when I saw her that night, I think she made a big blunder. She was acting like a legal counsel of Pacific Plans. And how can she even conclude that Pacific Plans have no legal liability but only moral and ethical. Ms. Drilon should not be in media.
I admire Mr. Piccio for being Mr.Cool. Inspite of Ms. Drilon's being pro-yuchengco and pro-pacific plans, he did not lose his composure. But I know, just like me, millions of televiewers were disappointed with Ms. Drilon. she must have received a lot of hate mails and nasty comments. She should be more professional, we do not need broadcasters like her.

 
At Wednesday, April 27, 2005 6:26:00 PM, Anonymous Anonymous said...

for all her status in the industry, ces drilon asks the stupid-est and most ill-formulated questions from a talk show host. sabagay, it shows her true colors - unprepared for her show, and biased for the big (Y) fish. imagine, for her to insinuate that perhaps it's better to accept the 7% PPI deal because after all it's better daw than bank interest rates on deposits. ano ka ba naman, ces drilon!? and then in she slides in a statement/question, "but if you were in their shoes, wouldn't you have done the same" - meaning form another company and leave behind the educational plan to perish with PPI. perhaps she should have asked instead, "ikaw ba, kaya ng conscience mo to do that?, knowing that you are destroying the future of thousands of children." i only hope the plan holders get better media mileage from a more intelligent, more compassionate host who can see clearly the real issue.

 
At Wednesday, April 27, 2005 7:00:00 PM, Anonymous Anonymous said...

The Yuchengcos are great friends of the Jimenez family that owns GMA7. They both are stockholders of PLDT!

The KAPUSOs has been mum about the whole thing. Where is MR. IMBESTIGADOR ng bayan Mike Enriquez? Imbistigahan mo naman! Hindi puro endorsement ng Malayan Insurance product ang gawin mo! Where is Mr. Emergency? Di ba Emergency na to Arnold Clavio? What about Jessica Soho? Nasaan na report mo? Mahigit na 24 Oras na kayong natutulog!

 
At Wednesday, April 27, 2005 7:42:00 PM, Anonymous Anonymous said...

I am an unavailing planholder and have more than 5 plans for my children. I have a message for for all unavailing planholders.... the interest of all planholders is the same: that is to make PPI adhere to its contract- this of course will benefit all, including the unavailing planholders and myself. Won't you be better off with that?

Why would anyone agree to a payment in 2010 with a 7% interest when all planholders, inculding the unavailing will benefit from PEP fighting for PPI's fulfillment of its contract obligation?

How much is RCBC's or any other bank's lending rates? Will the bank lend money at only 7%? If so, then let us all borrow money from them, agree to not pay any centavo back until 2010, then when 2010 comes, I put all my profits into another country (or company) and say: " oops sorry, I lost money bec I invested wrongly, the government raised taxes, raised utilities, raised minimum wage etc -- so I can only pay you 10% of your principal in 2010, with only 1% interest, staggard payment until 2020."

THE REHAB PLAN MUST BE STOPPED -- otherwise PPI will just be able to walk away with our money and our children's future. Stopping the rehab plan will make PPI sit down and talk with ALL plan holders and WE ALL will have a better chance of making PPI fulfill its contract ... or at least WE ALL will be able to negotiate a better deal for all availing and non-availing plan holders, right?

We all have to be together to be strong and win our fight.

 
At Wednesday, April 27, 2005 10:50:00 PM, Anonymous Anonymous said...

How can some contributors who claim not to have availed propose to settle? That is tantamount to accepting that those who have defrauded us - with the bought help of the SEC (how else could such a rehab have been approved in 4 days!!!) - can go free to do the same scheme over and over again. How can YGC be allowed to continue to run any insurance or any entity accepting the public's money again? How come they still manage the trust fund when they themselves state that they can't be trusted to manage such policies they hang on the public? How can the SEC accept such a rehab and then not bar them for life from ever selling anything to the public again that entails fiduciary duty? How can anybody say 7 % interest is reasonable given the history of these policies and today's rates? The YGC sold policies to the public and assumed fiduciary duty to fulfill their contract just as the buyers did who paid their plans! If one of the products they sold was not structured right then that is business! Win a few - lose a few? You can't cull the losers and abrogate your contractual obligation! If that is allowed then any crook can hang any paper on the public and walk away from it!

 
At Wednesday, April 27, 2005 11:01:00 PM, Anonymous Anonymous said...

Our problems started with that judge who signed a stay order in favor of PPI. He signed it without considering the effect on the many availing planholders. I smell something fishy and this particular judge should be investigated. And if proven that he connived with the PPI people, should be brought to court.

 
At Wednesday, April 27, 2005 11:08:00 PM, Anonymous Anonymous said...

So far we have heard a lot of comments from disgruntledplanholders. What I would like to hear is a concrete plan of action, legal or otherwise, to stop this rehabilitation plan from being approved and implemented. Let us initially check on the judge who penned that stay order for PPI. Let us check if he was in cahoots with PPI and if he was, take the necessary action to stop him from hearing the case on May 25.

 
At Wednesday, April 27, 2005 11:11:00 PM, Anonymous Anonymous said...

I am sure that there are a lot of legal practitioners who are also victims of PPI's machinations. May I hear from them as to what course of action can be possibly taken to counter the moves of PPI.

 
At Wednesday, April 27, 2005 11:17:00 PM, Anonymous Anonymous said...

A contract is a contract. PPI,by deceitful means, is trying to run away from its obligations to the many planholders (including me). The offer to replace our existing contracts with new ones maturing in 2010 is a great escape act. Let us not be fooled lest we lose everything.

 
At Wednesday, April 27, 2005 11:29:00 PM, Anonymous Anonymous said...

I pray to the Lord that He take care of the Yuchengco's after what they have done now....am sure that the only thing that will vindicate us is when KARMA strikes the entire Yuchengco clan! You are in the service industry , hence, you should know how to care for people...for their welfare. Not for your own selfish interest. Just imagine how many lives you have affected because of your selfish motives?

Hope that the big "K" strikes you soon!

 
At Thursday, April 28, 2005 12:21:00 AM, Anonymous Anonymous said...

It is not wise to post the concrete action plan on this site where anyone and everyone can see. Part of the strategy is to keep your action plan close to your chest so that the opponent wil not have time to diffuse nor to counter our actions.

I suggest that those who want details of the plan volunteer and give their time or get in touch directly with the legal team to give their inputs and be updated.

 
At Thursday, April 28, 2005 12:27:00 AM, Anonymous Anonymous said...

Ces who? Isn't she the Massage attendant at Maa---a?

No need for the YGC to send representatives. Ces did a very good job for them.

She's also very intelligent by showing to the whole world that she can do 2 things at the same time- interview and text! Mind you she wasn't hiding it!

Sigh! Wish I was at Oakwood mutiny back then! I would have sh-t her on the head! It's filled with hot air anyway!

OK folks! You've got a glimpse on what is stacked against us! Still willing to play meek and humble and just yakity-yak? Or shall we take action (as in with "extreme prejudice")?

FYI: RCBC managers are ordered to give feedback to the Yuchengco kids including an hourly report on the withdrawals! Guess they are also prepared for a possible bank run!

 
At Thursday, April 28, 2005 1:43:00 AM, Anonymous wmb disclaimer said...

Please do not use initials of other bloggers. I have noticed that a previous post raising the query below carried my initial wmb.

QUESTION: WHY DO YOU HAVE FIVE (5) MEMORIAL PLANS?

YOU DON'T DIE FIVE TIMES.
INVESTOR? SECONDARY MARKET?

I have not made any such post. Any posts coming from me are posted in the main section and not in the comments area except for a reply to Marc's call for sobriety. I shall not post any other comments in this section to avoid misuse of my initials.

Thank you.

 
At Thursday, April 28, 2005 8:20:00 AM, Anonymous Anonymous said...

Didn't you guys notice anything lately?:
1. Fuel prices kept on going up- despite the fact that during the month of December, World prices then was going down.
Latest is ERC allowed Napocor to adjust prices upwards!

2. A sweet heart of a deal was given to a crony for NLEX! They can charge us at any rate they like!

3. PGMA insist on 12% VAT, even if she knows we are pretty hard up as it is! Probably to apeace the World Bank and IMF so she can get more loans?

4. The collapse of CAP and now Pacific Plans, the government continues with blah-blahs but no concerete action.

Pahirap ng pahirap ang buhay! I won't be surprise if there will be an earth shaking development soon!

TAMA NA! SOBRA NA! NAKAKAHIYA NA! (ay oo nga pala puro walang hiya pala YGC, Ces, and the one who call Ambassador Yuchengco- Uncle Al!)

 
At Thursday, April 28, 2005 9:39:00 AM, Anonymous Leo Zafra said...

Tama yung Lifetime pension planholder. Why should he/she allow the trust fund exclusively for the payment of his/her pension plan be used for the trad eduplan? Right said, kaya nga nahiwalay ang Pacific sa Lifetime is for this same reason. Let the trust fund of PEPTrad be used for PEPTrad and not any other Trust Fund.


To the lifetime memorial planholder: The point is hindi natin pwedeng i-compare ang lifetime sa pacific precisely because the products here are different (open-ended vs fixed value). you just refuse to admit that the trust fund specifially for peptrad availment is fast being drained and depleted by skyrocketing tuition fees unlike fixed value plans wherein alam na kaagad ng ph kung magkano tatanggapin nya in the future.


Disclaimer:

i am not the one who posted these comments. these are works of pro-ppi groups trying to destroy my reputation as member of the pep coalition. should my name be again posted in this website, i assure you that any comments i make, will be for the pepcoalition and not against us.

 
At Thursday, April 28, 2005 9:44:00 AM, Anonymous dong said...

at the rate this website becomes an avenue for hatred, you are losing also the moral issues you want to project. well, what can you expect from people who have no issue in the first place except on riding on the issues being discussed.

 
At Thursday, April 28, 2005 9:52:00 AM, Anonymous non-ex said...

Disclaimer:

In reply to leozafra? "i am not the one who posted these comments. these are works of pro-ppi groups trying to destroy my reputation as member of the pep coalition. should my name be again posted in this website, i assure you that any comments i make, will be for the pepcoalition and not against us."
- How sure are we that you just made the comments earlier then came up with a disclaimer just to project a hero image? If you really have that reputation, then let your children stop schooling while this issue is being addressed and not hide behing the silent majority whom you have duped into joining the coalition just to advance your exclusive interests.

 
At Thursday, April 28, 2005 10:07:00 AM, Anonymous Anonymous said...

This site and the comments posted are pathetic...................is there a website where concrete plans are discussed instead of hitting on personalities?.........Im out of here!

 
At Thursday, April 28, 2005 10:09:00 AM, Anonymous Anonymous said...

Kaya pare pareho tayong naloko kasi ganyan kayo mag isip! puro galit! puro pintas, puro insulto, puro walang katuturan!!!!! ako rin aalis na!

 
At Thursday, April 28, 2005 10:20:00 AM, Blogger mario said...

I BELIEVE THAT WE SHOULD ALSO INVOLVE OUR SENATORS IN THIS. SEN. JUAN FLAVIER IS THE CHAIRMAN OF THE COMMITTEE ON EDUCATION

 
At Thursday, April 28, 2005 11:16:00 AM, Anonymous Anonymous said...

Yung mga gusto umalis daw, mukhang obviuos na taga-PPI kayo. Nanonood lang kayo, wala naman kayong sinasabi na makabuluhan, nagdadrama pa kayo. Sige, mas mabuti pa na umalis na kayo. At sabihin ninyo sa mga amo ninyo Yuchengco na basahin nila ang mga sinasabi dito para malaman at maintindihan nila na hindi na sila paniniwalaan ng mga tao. Wala na silang karapatan magyabang tungkol sa "service" at "integrity". Basa na ang papel nila!

 
At Thursday, April 28, 2005 11:30:00 AM, Anonymous Anonymous said...

to Lifetime Planholder : we are not getting what is due you, we are just fighting ygc to put everything back in its original form and substance. we were a family and ygc broke it up without even consulting the kids who are working hard to give money for the family to have a good life. the children are now asking all siblings to join hands for our children's sake. is that asking too much ?

 
At Thursday, April 28, 2005 12:20:00 PM, Anonymous Anonymous said...

Anonymous said...
to Lifetime Planholder : we are not getting what is due you

No, you are trying to get what is due the Lifetime Planholder. What you should get is the remaining trust fund from Pacific and all its income accruing to it. To get your share from the Lifetime pie is imposible. We have separate trust funds for different products.

 
At Thursday, April 28, 2005 12:51:00 PM, Blogger areilez said...

Friends:

I noticed that most of the messages posted here are prejudicial... And some even uses the name of the Lord just to air their hatred, grievances, dissappointment, frutrations, etc.

you judge ces (ABS-CBN), mike enriquez, arnold clavio, and jessica soho (GMA). you throw the axe at the yuchengco's saying they deserve hell. BAKIT? wala be tayoong mga kasalanan lahat? di ba kayo nangdaya sa buong buhay ninyo?

Instead of firing wayward missiles to these people. we should instead look at the situation, create options to address these problem.

hindi lang kayo ang may problema. mas higit pa ang may mas malalaking problema at walang maipang-aral, maipakain at maibihis sa pamilya kaysa inyo. buti nga kayo may pangbayad ng pinutukan ng magaling the PEP trad at CAP at kung anu-ano pag pre-need products na yan. Ang iba ni hindi maka-bili ng posporong pang-sindi ng gasera.

may pananagutan ang lahat. planholder man o pacific plan. yung mga second market buyers. kasalanan nyo din yan at nung nag-benta sa inyo. kayo ang may kasunduan at hindi ang kumpanya.

Ano ba yan? you dare to tell others they're morons or stupid, but look at how you espress yourselves in this forum?

May pagkukulang ang PPI, alam nating lahat yun. Ginusto ba nila?
Kapag ikaw ba ay sinabihan na may mabibili kang ulam sa tindahan at ng makarating ka upang bumili ay naubusan ka, idedemanda mo ba yung tindahan? gagawa ka ng paraan siempre.

Friend, this is not just an issue exclusive to PPI or CAP. This is an issue about the deregulatioin of tuition fees that made all pre-need companies bleed to meet their obligations to (pen-ended education plan) planholders.

 
At Thursday, April 28, 2005 12:58:00 PM, Blogger areilez said...

Pasensya na kung may na-offend ako. I don't mean any harm to anyone posting in this forum.

It's just that, sayang yung spaces e. Shall we use this forum to exchenge views and opinions on how to help each other in addressing this problem. Who knows? we might be giving our pre-need industry friends some special pieces of advice. Nakatulong pa tayo.

Salamat.

 
At Thursday, April 28, 2005 1:29:00 PM, Anonymous Anonymous said...

Yes, puro tayo exchange of views, no hard action. I agree that we must do something.

This morning, I already sent an SMS message to DZBB during Mike Enriquez's show. I asked why they have been silent? Why they have not investigated Pacific Plans yet. He commented that they are reporting naman daw, and he did stress that the dreams of the children have been destroyed by these erring companies (citing CAP and PPI).

If you want action, start by sending text messages to all the radio commentators during their show!

Here's the one for DZBB, just text:

Super (Space)BB(Space)(your message) and send to 2299!

You want action? Don't wait for others to do it. You do it!

 
At Thursday, April 28, 2005 2:21:00 PM, Anonymous Anonymous said...

Reminder to PEP Coalition members and supporters :

If you have concrete ideas or serious suggestions for our legal, finance/actuarial, media, logistics, etc. committee to support our movement, please e-mail them to :

pacificnoplan@yahoo.com

Don't be trapped arguing with non-supporters. Its very probable that they are fishing for our counter arguments.

Stay cool. You may continue to answer them politely with motherhood statements. Save your best ideas for our Coalition's e-mail address. Let us focus our positive energies toward achieving our objectives.

If they don't have educational plans for their children, ignore them. They will never understand our situation.

 
At Thursday, April 28, 2005 3:35:00 PM, Anonymous Anonymous said...

SO WHO DO YOU THINK WILL BE THE NEXT AMERICAN IDOL? CARRIE UNDERWOOD!!!!! GOGOGOGOGO CARRIE!

 
At Thursday, April 28, 2005 3:36:00 PM, Anonymous Anonymous said...

Back when I was a child, before life removed all the innocence
My father would lift me high and dance with my mother and me and then
Spin me around 'til I fell asleep
Then up the stairs he would carry me
And I knew for sure I was loved
If I could get another chance, another walk, another dance with him
I'd play a song that would never, ever end
How I'd love, love, love
To dance with my father again
When I and my mother would disagree
To get my way, I would run from her to him
He'd make me laugh just to comfort me
Then finally make me do just what my mama said
Later that night when I was asleep
He left a dollar under my sheet
Never dreamed that he would be gone from me
If I could steal one final glance, one final step, one final dance with him
I'd play a song that would never, ever end
'Cause I'd love, love, love
To dance with my father again
Sometimes I'd listen outside her door
And I'd hear how my mother cried for him
I pray for her even more than me
I pray for her even more than me
I know I'm praying for much too much
But could you send back the only man she loved
I know you don't do it usually
But dear Lord she's dying
To dance with my father again
Every night I fall asleep and this is all I ever dream

 
At Thursday, April 28, 2005 3:42:00 PM, Anonymous AY Yuchengco said...

ako kung pwede lang mag vote...vote na me si Bo Bice. So galing him!

 
At Thursday, April 28, 2005 4:02:00 PM, Blogger mario said...

From the TV news last night (GMA) planholders of CAP has already filed a class suit against CAP.

 
At Thursday, April 28, 2005 4:19:00 PM, Anonymous Anonymous said...

To the media/advertising committee of PEP Coalition:

Why is it that we are so silent? I read both the Star and Inquirer but there is so little said in our favor, while the Yuchengco side has even presented their legal defence to what they did.

I thought that the appeal letter to Al Yuchengco, the one we signed in the St. Paul's meeting, would be printed (full page) in all the major newspapers. What about the Billboards of Piccio? Let's hit on the integrity issue of AY. All the legal matters will take a long time to resolve, so much emphasis must be put on the Advertising and media side. Let's make noise!

On the legal committee of the PEP coalition:

Do we have any response to the defense of PEP? On the Section XV issue, is government regulation the same as government DEregulation? Let's move!

On the MBA student (You're so popular):

Thanks for airing your side, it will make us think. But I also think that you should go beyond the policy wording and look at the background and bigger picture. For example, how silently Lifetime Plan, Inc. was created; and, the purpose of its creation. And this includes the SEC - for sure they knew that something was brewing.

This will be a precedent to all other contractual obligations.

A comment: Al Yuchengco must be sitting back and sprinkling a little something to "put out the small fires" here and there. It's much cheaper than honoring our educational plans. We have to be persistent!

Another comment on GMA: While she was enjoying in Boracay, many of our children's future was being shattered. Obviously, she will never go against her "Uncle Al".

 
At Thursday, April 28, 2005 6:08:00 PM, Blogger PARTY OF ENLIGHTENED PLANHOLDERS (PEP) said...

This comment has been removed by a blog administrator.

 
At Thursday, April 28, 2005 11:22:00 PM, Anonymous Anonymous said...

To the Pro-PPI and Pro-YGC Hecklers
and Planted Paid Hacks:
After we're through with this
crusade of ours, I'm sure you guys
will find yourself out of work (retrenched).
May you then spend your lifetime scrounging around for money to send your children to school. That's your karma for selling your
souls for a few measly pesos.

 
At Friday, April 29, 2005 1:54:00 PM, Anonymous Anonymous said...

i just recently availed my pension plan from lifetime plans. i think the problem of the industry is only the traditional educational plan and not the other fixed value plans. all pre-need companies which sold traditional will have problems about traditional plans.

 
At Friday, April 29, 2005 4:00:00 PM, Anonymous Anonymous said...

CES DRILON, you are a big disappointment to the viewing public. You did a big disservice to your audience. How could you be so insensitive to the plight of the the many parents to fight for the right to educate their children. A lot of sacrifices and work was put in to invest on those plans, how could you question WHY THEY PUT THEIR MONEY ON SOMETHING THAT IS TOO GOOD TO BE TRUE? Why don't you ask the Yuchengco's WHY THEY SOLD THOSE INVESTMENT INSTRUMENTS (i.e. educational plans) IN THE FIRST PLACE?
I have never seen any media person as biase as Ms. Cez Drilon. I think the news management of ABSCBN should take a second look at Ms. Drilon capacity to bring forward to the public a good, sensible and fair program. Ms. Drilon should listen to the plight of the parents who:
-Had to transfer their children to other schools because they cannot afford to pay the tuition of their children because Pacific Plans did not fulfill thier promise.
-Invested their retirement to ensure that their children will still be able to go to school come hell or high.
-To give up investing in a house because they think education for their children is a better investment
These are just some of the stories shared to me by some planholders. Ms. Drilon, HOW COULD YOU....?

 
At Saturday, April 30, 2005 11:46:00 AM, Anonymous Anonymous said...

what is the email address of pacific plans. we here in the province island can't get through their phone line 8160000. help anyone?

 
At Saturday, April 30, 2005 3:36:00 PM, Anonymous Anonymous said...

The media should discuss the substantive points raised in the petition for rehab, summarize its rehabilitation proposal, inform us about who will act as receiver, how will the rehab affect control over PEP? Will planholders have a say in the management of PEP?, etc.

Analysts can also assess how the plan will impact on availing and those yet to avail.

 
At Monday, May 02, 2005 10:47:00 AM, Anonymous Anonymous said...

if you have a yahoo address go to no2pep2010 in yahoo groups. Some interesting stuff in the files section. spread the word.

 
At Tuesday, May 03, 2005 2:22:00 PM, Anonymous Anonymous said...

The lone trustee of Pacific Plans Inc. is RCBC, and I think everyone knows who owns this bank. Now, given this relationship, who do you think made the decision that PPI's money should be invested in Napocor Bonds? On the other hand, when PPI was split into two companies, who do you think decided in the division of the trust fund assets? Which one will go to PPI and to Lifetime?

 
At Wednesday, May 04, 2005 6:42:00 AM, Anonymous Anonymous said...

The previous poster is not entirely correct. RCBC is the lone trustee bank for the trust funds of the interment, cremation and pension plans. For the education and memorial plans, RCBC and China Bank are the trustee banks. ING Barings is also a trustee bank but we are still trying to find out for which plans.

 
At Monday, May 09, 2005 10:21:00 PM, Anonymous Anonymous said...

The Mapuans fighting the Yuchengcos are experiencing the very same thing you are experiencing.

They (Yuchengcos) will claim 'silent majority' supports their plan.

They will demonize the leaders of your cause as the trouble makers.

They will divide your ranks by offering little bribes (yours is the 7%, ours is that we will keep the name for another 5 years kuno)and you should be thankful for their generosity.

They will portray themselves as people of integrity and there must be something wrong with you if you question them.

They will have hired people to infiltrate your message boards masquerading as one of you and sow doubts and intriques against your leaders.

They have the media covered, the internet is the only thing they can't control. Our sites have been hacked and attacked.

They will try to rationalize their actions using technicalities and legal jargons.

They will try to convince you that you are up against powerful people and that you can't win so you better accept their terms.

they will use every possible means to intimidate you and if they have to spread faeces in your rally path, they will and they have done it to us.

Let me tell you this, the Yuchengcos are very nervous right now. They know what can happen. Let's work together, make enough noise so that the media will lose credibility if they ignore us or trivializes us. Most of the Yuchengco business is very vulnerable now.

Let's be steadfast in our position. Let us show the world that we are really the victim, not them. Let us show the world that they are not sincere in dealing with us. In Mapua, they refuse to have a dialog (even if they claim so in the internet), they only have meetings that are only to disseminate information. They're not interested to listen to you. LET'S MAKE THEM LISTEN.

Mapua + Pacific Plan = Yuchengco collapse. The time is now.

 
At Tuesday, May 17, 2005 5:47:00 PM, Anonymous Anonymous said...

ces drilon... do you still watch her show? i thought that she was someone with integrity and one who should be respected... not anymore... with the things that she has said in the past (with the gestures and botox face to boot) and now this, with PEP, one can see that she's just like our trapo politicians... don't even pay her any attention... kudos to all of you co-PEP parents... let's continue to stay focused and pray that the SEC, the courts, government will listen to our pleadings and do what is just, what is right... that the Yuchengcos live up to its promise to all planholders of paying the cost of tuition fees at the current and future rates... that's what we labored for and saved for in the past many years... I have 2 availing policies and one non-availing (college) policy... we need to put things in order to ensure that we and the others who are not yet availing, can and will benefit from our actions now... in the same manner that we will "fight this out" together, we pray for guidance, strength, wisdom and justice...

 
At Friday, May 27, 2005 1:37:00 PM, Anonymous Anonymous said...

I am group manager of Lifetime Plans,I'm with u...planholders.GOD IS WITH US!!!

 
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