Wednesday, May 11, 2005

Reviewer 5 - Let's Start at the Very Beginning...

Pacific Plans Representation to SEC Chairman Lilia Bautista Posted by Hello

A very good place to start... The road to hell is paved with good intentions.

The letter above is part of the SEC's official records and shows that the request for the spin-off looked innocent enough. Note how it makes the unmistakable impression on the reader that Pacific Plans was going to remain in control and in charge of managing the situation.


At Wednesday, May 11, 2005 6:51:00 PM, Anonymous Anonymous said...

Sabi ni Mang Al:

"My dream is that my children will be able to preserve a good name"

Kawawa naman siya, ang anak niyang si Helen pa ang nagpasimuno ng kasiraan niya.


At Wednesday, May 11, 2005 7:59:00 PM, Anonymous Anonymous said...

To Helen Dee,
You may eventually win in the court, but we will never forget what you did. Your father's name is forever mud.

At Wednesday, May 11, 2005 8:13:00 PM, Anonymous TLS said...

I believe we are here to know the truth / facts and to help others understand the truth / facts. That is why we argue against what seems to be uneducated analysis or wrong conclusions that result from erroneous assumptions. Why do we care at all if there are such uneducated analyses and wrong conclusions? Because everything comes down to one thing: getting our legal, contractual rights / benefits and anything that detracts from efforts towards that end only weakens everyone’s position in the end.

It’s simple.

1) The premise is that PPI was financially healthy until the transfer of assets occurred. All documents and reports, until prior to the transfer, point to its capability to serve current and future availments.
2) We know that if they had not transferred assets, we would continue to avail of our full benefits today and until the future. But PPI would have had to sacrifice profit (not the trust fund) margins on its fixed-value plans to pay out ALL availments, whether traditional or fixed, exclusive or non-exclusive.
3) So to stop the drain in profits, they transferred the earning assets out of PPI.
4) They could have stopped with the transfer of assets but that would only lead to a greater impasse later on.
5) So to pre-empt any moves questioning the transfer of assets and the later impasse as the remaining trust fund of PPI is drawn down, they immediately secured legal protection through the petition for suspension of payments and petition for rehab.
6) But the transfer of assets was fraudulent for the many reasons cited below.
7) Because there was fraudulent transfer, both the suspension of payments and the rehab plan can be thrown out.
8) With these thrown out, the fraudulent asset transfer can be undone.
9) With PPI whole again, ALL availments should be fully serviced again.

Fraudulent transfers or conversions may be undone and reversed by a court’s putting the transferred assets back in the debtor’s (PPI’s) hands where the property becomes subject to the creditor (planholders) collection process. The court may provide several equitable remedies to assist the creditor’s collection of these re-transferred assets including injunctions against further transfers, imposing a receivership on the assets, or imposition of a constructive trust. A creditor alleging fraudulent conveyance may sue not only the debtor transferor (PPI) but also the transferee (Lifetime) who received the assets in order to undo the transfer.

To ascertain the debtor’s (PPI’s) purpose and intent of an asset transfer, courts look to factors which are often indicative of intent to avoid creditor claims. For example, a court will examine whether any particular transfer was made to a related company; whether a transfer was concealed; whether the debtor retained effective use or control over the asset transferred; and, whether the transfer rendered the debtor insolvent. All of these above factors suggest that a transfer was a fraudulent conveyance which the courts should reverse.

In an action for relief against a fraudulent transfer, a creditor may file for:
(1) avoidance/reversal of the transfer to the extent necessary to satisfy the creditor's claim;
(2) an attachment or other provisional remedy against the asset transferred or other property of the transferee in accordance with the procedure prescribed by law
(3) subject to applicable principles of equity and in accordance with applicable rules of civil procedure,
(i) an injunction, against further disposition by the debtor or a transferee, or both, of the asset transferred or of other property;
(ii) appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or
(iii) any other relief the circumstances may require.

That is why the fight is to get what is legally ours by contract and that means getting the court to throw out the rehab plan and lift the suspension of payments due to fraud. The court can immediately throw out the rehab plan and suspension of payments if presented with facts of fraud. Several possible action plans have already been posted in the site towards the proper settlement of the benefits to all planholders. Let’s say this whole school year is lost towards that effort. But given the results of full servicing of contractual rights, that is certainly more to the benefit of our children.

There are certain extraneous factors which are now pointing further to this as the best course of action. Pressure is mounting is will further escalate in the next months, to again regulate, if not freeze tuition across all education levels. Actually, this was already a policy statement of PGMA in February last year. It now remains for CHED to enforce this. In any case, Congress and Senate will also be asked by constituents to legislate law to repeal tuition fee deregulation as well as other measures to address accessibility of education. With this in place, it will definitely make financial sense to hold companies such as PPI to their legal contractual liabilities as they stand, rather than to go for a protracted rehab plan that will certainly reduce their obligations and reschedule these far into the future.

Going for less, such as supporting the rehab plan in order to receive a little money now, is the weakest position with the most number of unknown variables, contrary to what many think as being a sure option.

For one, there is no surety under a rehab plan that anyone will get anything, especially in the near-term. Insolvency, Rehabilitation and Bankruptcy proceedings in the country have already shown that creditors suffer most without getting anything in such cases for years on end. Why many planholders insist on this given this empirical data is puzzling, if not downright sad.

Second, supporting a rehab plan is supporting a rescheduling / restructuring of debt, in this case, the benefits to be availed. This means that for all, both availing and non-availing, the benefits will likely be rescheduled even further into the future and likely restructured to be much less than what is hoped for to cover future tuition fees. What is the point then of supporting a move that will NOT give you your benefits WHEN you need it and AT the amount you need it for? If your child is not even able to use the benefits having already stopped schooling or finished schooling, then you’d have lost all value of your plan/contract in the first place.

In addition, the assets that the Yuchengco’s have put forward are Napocor bonds, which regardless of their ROP guarantee, are definitely a loser investment which the government itself will have to raise funds for. Napocor has maturing bonds not only in 2010 but also in other years, 2011 and 2014. With the move towards privatization and Power Sector Assets and Liabilities Management Corp issue, this looks to be a real lovely arrangement for planholders who go for the rehab plan. In earlier issuances, such Napocor Bonds even had to be restructured as credit derivatives in order to get the right risk profile because no investors wanted to get them.

Third, the supposed liquidity window being dangled as a “sweetener” to those who go for the rehab plan, is a simple buy-out which is still part of the calculated loss designed to still leave the Yuchengco’s ahead. In other words, if you were a shrewd businessman with a pending P2B reduction in profits (due to full servicing of all planholder benefits) and you had an option that would result in much less reduction of profits (transfer of assets, rehab plan, buy-out of planholders willing to accept one-time tuition support plus sweetener) amounting to P600-P700 or even P1B, what would you do?

Question is, would the P50k, P60k, P80k one receives now (one-time tuition support plus sweetener) compensate for the full education of one’s child? Also, given that both options involve court action anyway, why fight for an unsure end (undetermined benefits which will be rescheduled farther into the future for lower restructured amounts) when you can fight for a sure end (full benefits of all planholders, at all levels, current and future as already determined by our nominated scholars)?

Again, question is, would the P50k, P60k, P80k one receives now (one-time tuition support plus sweetener) compensate for the full education of one’s child?

Let’s all discern what is best for our children now and in the long-run given the legal and financial truths above.


At Wednesday, May 11, 2005 9:16:00 PM, Anonymous karen said...

bullseye tls! pareho ka rin lang naman maghihintay, why would you wait and then get something na much lesser than what they promised to give or baka hindi pa nga sure maibigay comes 2010. unlike when you fight, at least maghintay ka man, there is a chance na their contracted obligation may still be fulfilled. Remember kung nagawa na nilang talikuran ang pangako nila ngayon, how sure are we na comes 2010, hindi ulit sila maghanap ng dahilan para di tuparin ang pangako nila. since their names are already synonymous to fraud and mud, they dont have anything to lose anymore. so aja aja fighting!!!

At Wednesday, May 11, 2005 10:57:00 PM, Anonymous Anonymous said...

As the highlights of the book on Mr. Integrity have been quoted in the blog, I suggest we do not get a copy of the book. They might claim it is a best-seller pa -- at our expense. Sayang naman ang pera natin. Papayamin pa natin si AY who owes us.

At Wednesday, May 11, 2005 11:19:00 PM, Anonymous Anonymous said...

Helen Yuchengco - Dee misrepresented the setting up of Lifetime Plans.

She mentioned that one company will handle Educational Plans, and another company will handle both Memorial and Pension Plans.

What Yuchengco did was to put all fixed-value plans into one company, and PEP traditional plans in another company. Therefore, Lifetime Plans should not have the PEPSTAR plans (fixed value educational plans) or even further sell fixed-value educational plans.

I advise the lawyers to look closely at the SEC license of Lifetime Plans. They DO NOT HAVE the LICENSE to sell fixed value educational plans. But why is it that they are selling these products?

Where did they get the authority to sell fixed value educational plans after Lifetime Plans was created?

What is the legal status of these sold fixed-value educational contracts?

What is the SEC doing to protect the investing PUBLIC??


Also, what "two new companies" is YUCHENGCO talking about?

Since they did not carry out the original intents and purposes, the SEC should undo the creation of Lifetime plans and REVERT all trust fund ASSETS back to Pacific Plans.




No to REHAB!!



We planholders dare the OMBUDSMAN to investigate SEC for being NEGLIGENT in their DUTIES AND RESPONSIBILITIES!!

At Wednesday, May 11, 2005 11:35:00 PM, Anonymous Anonymous said...

An unsecured creditor may file an action for collection against a debtor. In the samesuit, the creditor may ask for a writ of preliminary attachment, a provisional remedyw h e reby property of the defendant is levied upon as security to satisfy whatever judg-ment might be obtained by the creditor. An attachment is granted only under specific circumstances, usually when there is fraud in contracting or performing the obligation, or when the debtor is about to abscond, or has concealed its property (Section 1,Rule 57, Rules of Court).P roceedings in the trial court may last up to four years. Where the judgment is appealed all the way to the Supreme Court, the entire proceedings may take from 8 to 10years. In this sense, the judicial system may not be an effective debt collection remedy."

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

Hey, tls! Who are you? You're so damn GOOOOOD! Or is this an understatement?

Hope that your points are seen by the legal team and included in the case.


At Thursday, May 12, 2005 7:38:00 AM, Anonymous Anonymous said...

Anonymous said...

As the highlights of the book on Mr. Integrity have been quoted in the blog, I suggest we do not get a copy of the book. They might claim it is a best-seller pa -- at our expense.

Wednesday, May 11, 2005 10:57:51 PM

We don't have to buy the book, just read it in the bookstore. Oh by the way, the book is in the FICTION section.

At Thursday, May 12, 2005 10:53:00 AM, Anonymous Anonymous said...

Is it really in the fiction section? That's cool. On target ang mga book store!

At Thursday, May 12, 2005 2:19:00 PM, Anonymous Anonymous said...

TLS, clarification please.

Do I get it right that we, as PEPTrad holders, have assets in Lifetime? Or are these still with the new Pacific? Aren't the assets in Lifetime those of the Pension and Memorial and Pepstar holders?


At Thursday, May 12, 2005 3:31:00 PM, Anonymous Anonymous said...

The manipulations done by PPI will surely be the end of the business of the Yuchengcos in the pre need industry. Mr. Yuchengco is truly in a pathetic situation. Now that he is literally in the pre departure lounge, as he is in his ripe old age, he is about to flush his reputation and credibility, just to keep his profits intact. The ones that will eally suffer, Mr. Yuchengco, are your grandchildren, as they are now subject to ridicule and humiliation. You know how painful it is to lose a grandchild, right? But to see your grandchildren ostracized because of your own misdemeanor is doubly painful. Think of them. Love them and give them their pride back.

At Thursday, May 12, 2005 5:52:00 PM, Anonymous slt said...

Do I get it right that we, as PEPTrad holders, have assets in Lifetime? Or are these still with the new Pacific? Aren't the assets in Lifetime those of the Pension and Memorial and Pepstar holders?

Peptrad holders dont have assets in Lifetime. Imagination lang ni TLS yan. You are right in saying that the assets in Lifetime are those of the pension, memorial and fixed value education plans.

Believe in yourself and don't be swayed in by others.

At Thursday, May 12, 2005 6:38:00 PM, Anonymous Anonymous said...

please help,

direction -- how do i go to St. Paul Pasig?

i'll go there by jeep or bus .. kasi i'm saving the taxi fare for my child's baon. .

thanks. . .

At Thursday, May 12, 2005 6:38:00 PM, Anonymous Anonymous said...

Ngayong araw na ito, nagbayad ako ng P13,924.89
bilang initial downpayment ng tuition ng aking anak. Masamang mgasama ang loob kong ibigay ang pera sa cashier, dahil dapa ni singkong duling ay wala akong dapat babayaran. Nangako ang Pacific Plans na sila ang magbabayad nito, at may contrata na nagpapatunay ng kanilang obligasyon na to.

Meron pa kaming anak sa high school na may college trad plan din. paano na lang kung magkakasabay sabay sila sa colegio. Matagal na panahon kong pinangarap na dumating ang araw ng pag colegio ng aking anak. Kasi ang ibig sabihin nito ay baon na lamang ang aming problemahin. Yon pala ay...

Nagtanong ako sa ibang abogado, at pinatunayan na totoo ang doctrine of piercing the veil. Pwede na habulin ang Lifetime Plans para magbayad sa kanilang Obligasyon sa trad plan holders on PPI.

Sa palaay ko lang, tayo ay ginigipit, tulad ng kasabihan, ang taong gipit kahit sa patalim ay kumakapit. Kaya't kukunin ko rin ang tuition fee support, dahil diba pera ko na yon? Pero definitely sasama ako sa NO TO REHAB. I will sign the SPA.

At Thursday, May 12, 2005 7:26:00 PM, Anonymous Anonymous said...

yes, let's all sign the SPA - no to rehab!!

tls, one of the very main reasons i update myself on this website is because of your intelligent inputs.

go go go, tls!! and NO NO NO TO REHAB!

At Thursday, May 12, 2005 7:33:00 PM, Anonymous Anonymous said...

To the one asking for directions to St. Paul Pasig by bus or jeep:

First find your way to the intersection of EDSA and Shaw Boulevard. Then take a jeep from that intersection (that will be headed towards the Pasig Capitolyo) to go to Meralco Avenue. Then take another jeep down Meralco Avenue, towards Ortigas Avenue.
The second intersection (after the DECS compound) will be St. Paul Road. You have to walk down that road because there are no more jeeps plying that route. The walk is easy because the road slopes down anyway. Near the bottom of the hill will be St. Paul College, on your left.

Good luck and see you there!

At Thursday, May 12, 2005 11:10:00 PM, Anonymous Anonymous said...

sinoo-sino ba ang mga officers ng pep coalition?

At Thursday, May 12, 2005 11:52:00 PM, Anonymous Anonymous said...

Why 2010? What's so special about that year?

Could it be:
1. Napocor 0% Bonds due date?
2. PGMA's last year?
3. All of the above?

At Friday, May 13, 2005 5:58:00 AM, Blogger B. Braveheart said...


To: The University of San
Francisco Board of Trustees
USF Graduate School

Gentlemen / Ladies:

Subject: Alfonso Yuchengco

On behalf of the tens of thousands of alumni of the Mapua Institute of Technology around the world, many of whom are in the US and Canada, the current students of this institution in the Philippines, and in solidarity with the Pacific Plan insurance holders in the Philippines, we want to inform you that you did a very poor job in your choice of Mr. Yuchengco to receive an honorary degree from USF. We are extremely displeased, to say the least, with your choice of Mr. Yuchengco.

Mr. Yuchengco doesn't deserve such an honor for the following despicable deeds he and his cohorts committed in the Philippines: for destroying and desecrating the name and integrity of our Mapua institution by changing its name to Malayan, for depriving our current students their rightful future, for obliterating the legacy of our alumni and our institution, and for cheating the parents -- the Pacific Plan insurance holders -- of their savings for the college education of their children.

Mr. Yuchengco claims to be "Mr. Integrity", but in reality he doesn't have one. Choosing Mr. Yuchengco to receive an honorary degree therefore, was a big mistake for USF! A much better award for Yuchengco is an induction to the "Hall of Shame"!


B. Braveheart
1975 Chemical Engineering Alumnus
Mapua Institute of Technology
Manila, Philippines

At Friday, May 13, 2005 10:04:00 AM, Anonymous Anonymous said...

To Mr. Braveheart of Mapua:

I hope your letter is just a post to this blog and was not actually emailed to USF. While I fully understand your emotions (as I am just as angry with the YGC as a PPI planholder), I hope you do not drag the PEP Coalition into your letters until you clear with the Coalition on how it wants to communicate with USF.

From previous advice of other posters, we are advised to email USF as soberly as possible, not to hurl accusations, just to ask them to defer the awarding until further investigation can be made. We were asked just to put links to news items. Your words calling the award "a mistake" may not be the stance of the coalition, which just wants to inform them of developments here in the Philippines, and for them to take the next steps. This is in order to avoid possible legal problems.

Hopefully, you can just speak for Mapua alumni next time and confer first with the coalition leaders and its lawyers before quoting on behalf of us planholders.

At Friday, May 13, 2005 11:13:00 AM, Anonymous Anonymous said...

The Yuchengcos will defend their name
The Philippine Star 05/13/2005

The good news is, after this column urged the Yuchengcos to defend their name and live up to their commitment to Pacific planholders, they released a story that the taipan Al Yuchengco will contribute P250 million of his personal funds to help planholders enroll their children this June. The amount, though substantial, is not nearly enough to cover potential liabilities to holders of the traditional or open-ended plans. But it is a start.

It is also encouraging that recent press releases from Pacific Plans have become less legalistic and more appreciative of the concerns of planholders. Even as they also appeal for more understanding of their own predicament, officials of Pacific Plans are now talking of doing what they can to rehabilitate the enterprise. They earlier gave the impression they did all they could to isolate Pacific Plans and let it and the planholders wither in the legal vine.

Shortly after my column was published, Helen, the daughter of the taipan who is carrying the day-to-day burden of running the taipan’s enterprises, also sent word through mutual friends to reassure me that the Yuchengco family understands everything I wrote and "would do what is humanly possible to help all affected planholders."

I subsequently sat down with her and she reiterated the family’s general commitment in principle, even as she couldn’t be more specific about how far they could go by way of support to Pacific Plans. I guess this is because no one can really estimate at this point, the amount of money needed to rescue Pacific Plans completely. Given our extremely volatile economic (and political) situation, any number is at best, a moving target. Even the schools have refused attempts of Pacific Plans to tie them down to a number. Everything depends on how well or how badly our economy fares.

But Helen emphasized that contrary to what many people may think, they did not mismanage Pacific Plans. She didn’t compare what is happening to Pacific Plans with the other pre-need plan companies in trouble today. But she didn’t have to. A week or two ago, the bank managing the trust fund of that other pre-need plan came out with the revelation that they lost over a billion pesos by investing in a related real estate company. In contrast, Helen assured me that their investment portfolio at Pacific Plans can be defended at Plaza Miranda.

Helen explained that they would not be in trouble if two major events didn’t happen: Deregulation of tuition fees and the Asian financial crisis. The deregulation of tuition fees rendered their assumption of an annual 10-percent increase in tuition fees inoperative. And we all know the returns on investments – T-bills, real estate, business – were pitifully low following the outbreak of the Asian financial crisis, considerably reducing their earnings projections. The fine print in the pre-need contracts they wrote gives them a way out. But, she pointed out, they have so far lived up to the promise as best as they can.

To prove to me that their investment decisions for Pacific Plans are defensible, Helen showed me sample plans, comparing what they have paid out, how much the plan was sold to the plan holder and what could have been earned by the purchase plan under various investment options. In fairness, she did have a point.

For example, a plan for a four-year college course in an exclusive school bought in 1987 for P29,200 due for availment on school years 2002-2005, paid out total benefits of P368,603 for an internal rate of return of 19.60 percent and a return on investment of 1,262.34 percent. A very wise investment, indeed!

When they sold that plan, they assumed they would pay out benefits amounting to P128,027 compared to the P368,603 they actually paid out. Their trust fund investments earned P105,484, or an IRR of 10.59 percent and a ROI of 438.45 percent, which is not that far from their assumption even if they actually earned less. If the money were invested in T-bills, it would have earned P124,666 with an IRR of 10.50 percent and a ROI of 426.94 percent. If the money was merely parked in a time deposit, it would have made P91,521 or an IRR of 8.18 percent and a ROI of 313.43 percent.

There were other examples presented to me, all clearly showing that their trust fund investment earnings were within the ballpark of what alternative investments could have earned during the period in question. In other words, the numbers seem to indicate that they did not mismanage the funds, but were just a victim of unforeseen events.

Even the investment in Napocor bonds cannot be looked at as evidence of a bad investment decision, as some critics point out. Napocor may stink, but its bonds are totally guaranteed by the government. It is as good as a government Treasury bill, even better, because the Napocor bonds Pacific Plans invested in are dollar denominated, giving the trust fund an extra measure of protection.

But, I pointed out to Helen, if you had nothing to hide, why did you resort to such a sneaky tactic as establishing another company and transferring the good assets to it, leaving the open-ended ones in Pacific Plans? Helen insists they had the best of intentions of safeguarding the interests of the buyers of fixed benefit plans, while they figured out how to save the open ended plans left at Pacific Plans. Their mistake, Helen now realizes, is they allowed the lawyers to do the talking. When the legal Rottweilers take over, of course people get threatened and offended.

Still, I insisted to Helen, the numbers and your best intentions notwithstanding, the family must still live up to the public’s high expectations, to preserve the value of the name built up by her father. Any default now would also have serious social consequences, and threaten their other businesses that are all dependent on the public’s unwavering trust.

She looked up at me with a tired and worried look and nodded agreement, as if to say how dare you pontificate the obvious. Of course she realizes all that. She didn’t get to where she is by being dense. The reputably tough lady that she is, she just feels helpless at the impossibility of pinning down a number that keeps on changing.

Actually, if you think hard about it, any holder of an open-ended plan from any company should have reason to worry. Looking at the numbers, it does seem impossible for even the best managed trust funds to make the kind of return on investment needed to service those open-ended plans. Perhaps Pacific Plans was just honest enough to admit early on that they have a problem. In hindsight, the pre-need industry made a colossal miscalculation in selling those open-ended plans. I am not sure there is a viable way out of this bloody mess now.

Unfortunately for Helen, the Yuchengcos have a name and reputation to protect. Unlike the Sobrepeñas whose problems with their real estate business have been legendary long before they experienced any problem with CAP, the Yuchengcos have managed their businesses well. I would be very surprised if they decided to turn their backs on a legacy that Helen’s 82-year-old father, now recuperating from quintuple heart bypass surgery, built over his lifetime.

Still, it is a good idea for Pacific Plan holders to keep the pressure on the Yuchengcos. But as a CAP planholder, I would trade places with them in an instant. They are lucky they are dealing with the Yuchengcos.

I do not expect the Sobrepeñas to lose sleep over the amount I am entitled to collect from the last year of my youngest daughter’s CAP plan, given their string of payables: Over a billion pesos to BCDA for Camp John Hay and the billions of pesos owed to hundreds or thousands of buyers of Fil-Estate projects. I have a nephew who bought a lot in Forest Hills, a Fil-Estate subdivision. He completed his payments of over a million pesos years ago, but is unable to get his title up to now. Isn’t that against the law? But, duh… what else is new?

I know it is small comfort to affected Pacific Plan buyers but they are still luckier than I am. Even if the future may not be that clear now, at least, they have more reason to hope

At Friday, May 13, 2005 11:15:00 AM, Anonymous peachybrets said...

I would just like to ask the lawyers of the coalition the following questions:

1. Do you know that the Makati RTC judge handling the Pacific Rehab case came from the same law firm lawyering for Pacific Plans? Judge Barza was from Villaraza and Angangco Law Office before he became a judge.

2. Have you considered filing a motion for voluntary inhibition on him? I hope you do to avoid prejudice on the case.

Thank you.

At Friday, May 13, 2005 11:37:00 AM, Anonymous Anonymous said...

To tls,

I would like to thank you for your constant stream of insights and useful information. Please continue to enlighten us.

We hope you will attend the PEP Coalition meeting tomorrow and introduce yourself. You have much to offer to the group and you will surely be a valuable asset in our fight for justice.

At Friday, May 13, 2005 1:17:00 PM, Anonymous Anonymous said...

How can the Yuchengco's say they are sincere when they are holding a PICC meeting on the same day that we are holding our Coalition meeting? We can see your tactic a mile away.

At Friday, May 13, 2005 1:54:00 PM, Anonymous Anonymous said...

I'M STEAMING MAD!!!!! It is very obvious that the Yuchengcos are trying to turn the PR tide to their advantage by talking individually to the media people.

At Friday, May 13, 2005 5:06:00 PM, Anonymous bmw said...




At Friday, May 13, 2005 5:47:00 PM, Anonymous Anonymous said...

Well, why don't you go and post at the other site? Afraid nobody will read you?

And for your information, we are intelligent enough to get the actual newspaper or even to the site of PhilStar and Inq7 to read the whole article.

At Friday, May 13, 2005 6:04:00 PM, Anonymous Anonymous said...

Good for you!!!! Go ahead and get your reading materials yourself. Don't bother us, and do not be belligerent towards us. Don't even visit our blogsite.

At Friday, May 13, 2005 6:13:00 PM, Anonymous Anonymous said...

Why? The way we see it, you're only posting what you want others to read (GOOD ONES).

Blogsites are meant to be visited. You cannot deny anybody the right to visit your blogsite.

Of course, that's the natural reaction when you're caught in a corner.

At Friday, May 13, 2005 8:16:00 PM, Anonymous Anonymous said...

Well go ahead and keep visiting our blogsite. You probably found the enlughtened whatever bloodsite sooooo corny.??? At least here, you are probably challenged to think, in order to go with the flow of thoughts and intelligent discussions. Good for you.

At Friday, May 13, 2005 10:29:00 PM, Anonymous Ginny said...

Where is the page 2 of SPA please??? I can only print Page 1.. HELP!!!

At Friday, May 13, 2005 11:52:00 PM, Anonymous pep_mom said...

To blog administrator:

1. I presume your change of color scheme was to accommodate the request of a poster to do it as black text against white. However, pls check other past posts (e.g., Reviewer 4) where highlighted text in YELLOW became very hard to read against white. Personally, I liked the previous color scheme. Easy on the eye (green is supposed to relax the eyes...and we need to do A LOT OF READING ON THIS BLOG!) Maybe some experimenting will achieve the perfect combination of colors.

2. Any reason why we cannot post comments to more recent posts?

At Saturday, May 14, 2005 7:36:00 AM, Anonymous Anonymous said...

I know you can never please all the people all the time but......yes, I much preferred the old color scheme! ;-)

I myself have forest green color as the background color of my desktop. It was much better than glaring white.

At Saturday, May 14, 2005 4:48:00 PM, Anonymous Anonymous said...

For the benefit of those who do not have access to copies of Businessworld. For what it's worth

Corporate World

Planholders seek redress from Pacific Plans
... as Yuchengco hands P250-M check

Pacific Plans, Inc. planholders yesterday clamored for redress even as Yuchengco Group founder and chairman Alfonso Yuchengco handed P250 million as additional financial support to pay obligations to planholders.

Philip Piccio, president of the Parents Enabling Parents Coalition, a grouping of Pacific Plans’ planholders, said the check issued by Mr. Yuchengco to Pacific Plans President Ernesto C. Garcia belonged to planholders "left in the lurch."

"The P250 million is our own money. Para pa kaming naghahabol [We even appear to be running after the money] when they owe us P8 billion for their contractual obligation," he said. "We are not asking for anything more complicated but the simple plan we paid with our hard-earned money for the education of our children."

Earlier, Mr. Yuchengco said he hopes the amount will contribute significantly to the pre-need firm’s bid to serve the best interest of its planholders as he appealed for understanding on the company’s problems. "We will do everything in our capacity to help ease the problem," Mr. Yuchengco said.

With the tycoon’s contribution, Pacific Plan’s total fund is now at P591 million. The company said checks for additional tuition support can be picked up starting Monday at meeting rooms 2 and 3 of the Philippine International Convention Center from 8 a.m. to 6 p.m. by bringing a copy of the certificate of full payment and original valid ID.

Meanwhile, the planholder group, which filed its opposition to Pacific Plans’ rehabilitation move, said the pre-need firm’s "liquidity problem was fraudulently self-engineered and artificially contrived" and a "result of its own negligence."

From only 20 after Pacific Plans announced its rehabilitation plan, group members grew to 2,500 at the end of the week and continue to increase, said Winnie Bonifacio, finance committee member.

"But more than the numbers, it is about the principle we are fighting for, which is for the company to meet its contractual obligations," Ms. Bonifacio said. -- Roulee Jane F. Calayag

At Sunday, June 05, 2005 10:39:00 AM, Anonymous Anonymous said...

please post the current address of pacific plans. they keep changing their offices, and we still need to deal with them.



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