Wednesday, May 25, 2005

A Tarnished Reputation

REMOVING THE TARNISHPosted by Hello


A picture is worth a thousand words. We happened to catch this gentleman at work at the Grepalife headquarters on Sen. Gil Puyat. We swear on a stack of bibles that this photo is neither posed nor doctored (except for the obvious magnification of course).

If only fixing an utterly destroyed reputation were as easy as buying a small bottle of brass polish and putting in a little elbow grease.

At least, one thing that YGC can truthfully say is that they hire HONEST people.


42 Comments:

At Wednesday, May 25, 2005 8:41:00 PM, Anonymous Anonymous said...

A very sad but realistic picture depicting the true plight of PPI. At this point, they are all form and no substance.

 
At Wednesday, May 25, 2005 8:50:00 PM, Anonymous karen said...

sorry i cant decipher the words on the tshirt, what is it?

 
At Wednesday, May 25, 2005 10:02:00 PM, Anonymous Anonymous said...

The big word on the shirt is "HONEST". Quite ironic indeed!

 
At Wednesday, May 25, 2005 10:03:00 PM, Anonymous Anonymous said...

Could the blogmaster please include a caption letting us know what the man's Tshirt says? So we understand the gist of this post....thanks.

 
At Thursday, May 26, 2005 12:33:00 AM, Anonymous KAREN said...

Ohhhh, thanks for clarifying that the word is "Honest"pala on the shirt.
Yup, ironic indeed. of all words, yun pa ang nakalagay.

 
At Thursday, May 26, 2005 1:03:00 AM, Anonymous Anonymous said...

To the great coalition leaders:

Let's push thru with the rally next month at RCBC Plaza and bring the issue to the heart of the Makati central business district. You might want to check with the PSE when the annual stockholders meeting of YGC's flagship bank is, I heard it's sometime in the 3rd or 4th week of June.

Another event worth attending is the Araw ng Makati parade on Ayala Ave. either May 31 or June 1. YGC will have a float daw just like last May 6 during the launch of the month-long celebration. Maybe you can inquire from the office of Mayor Binay the exact date and time of this ticker tape parade so we can show up in full force with our anti-YGC placards when Evil Helen's float passes by.

 
At Thursday, May 26, 2005 1:04:00 PM, Anonymous Anonymous said...

Prohibit, Prohibitive, Prohibited, Prohibiting, Prohibit…

I bought my kid’s education plan from Yuchengco so NOTHING could PROHIBIT my children from studying. Not even inflation. Not even the rising cost of tuition. Not even my DEATH could PROHIBIT my children’s education. At the time I was paying for it, gapang, iginapang ko panghulog because I believe nothing should PROHIBIT my kids from having their education. I knew then time will come when the cost of tuition will be PROHIBITIVE. And when that time comes ayokong makuba sa pagpapaaral ng mga anak ko. Those were the same words of the agent who sold it to me.

Now, my kids are PROHIBITED to use their plans. I went to PICC yesterday morning complete with all the requirements which they said I must bring. Despite these, I was told they were PROHIBITED to release the checks.

And now I learned LifeTime has been PROHIBITED to operate. I also bought pension plans from Yuchengco the very same year my kids’ education plans were fully paid.

Where have all my investments gone- yung iginapang ko?

The PEP COALITION is my refuge in all these.

To Helen Yuchengco Dee, Liway Gener and Roy Padiernos and all the other officers of PPI-Lifetime- this time around, stop prohibiting me me nor the other planholders and the the COALITION from demanding from Yuchengco to honor his agreement with us, his constituents. He must. Even beyond his lifetime. Nothing should PROHIBIT him!

 
At Thursday, May 26, 2005 1:27:00 PM, Anonymous Anonymous said...

I am reposting this:

"Let us not be waning in our effort to fight the Yuchengcos. We may have won a battle, but we have not yet won the war. Let us be firm and steadfast in our stand against fraud, against the Yuchengcos, not only for our sake, but for the sake of our children- their education and their future. To all planholders of YGC insurance and symphatizers, please attend the May 25 rally. We want justice and not Just- tiis. Boycott the YGC companies:
1)Hi-Eisai Pharmaceutical, inc.
2) Honda Cars- Fairview
3) Honda Cars- Manila
4) Honda Cars- Marikina
5) Isuzu manila inc.
6) Isuzu Commonwealth inc.
7) iPeople, inc.
8) Mapua Institute of Technology
9) People eserve
10)Funeraria Paz- sucat, inc
11) Manila Memorial Park cemetery
12) First Malayan leasing and finance corporation
13) Zamboanga industrial finance corp.
14) RCBC Capitol Corp.
15) Bankard
16) RCBC securities inc.
17) RCBC universal Bank
18) RCBC savings bank
19) RCBC Telemoney Europe
20) RCBC International Finance ltd
21) RCBC California International Inc.
22) Malayan Insurance Company
23) Malayan Reinsurance Corp.
24) Malayan International insurance Corp. ltd.
25) The First nationwide assurance corp.
26) Malayan insurance company, inc.
27) Malayan Insurance Co.(HK) ltd
28) Malayan Zurich Insurance Co., inc.
29) Tokio Marine
30) GPL Holdings, inc.
31) GREPALIFE
32) Pacific Plans, inc.
33) Lifetime plans, inc.
34)Pan Pacific Computer Center Inc.
35) Grepaland
36) Nippon Life of the Phils.
37) House of Investments, Inc.
38) EEI Corp.
39) Philrock, Inc.
40) Landev Corp.

Sorry guys, I have to remind every visitor of this blog kasi. To the original poster, honest naman ako, this is yours!. Thanks for enumerating.

 
At Thursday, May 26, 2005 2:11:00 PM, Anonymous let lying dogs sleep...forever said...

sabi nga:

"if you sleep with dogs, you get fleas"

i don't want to get "fleas", do you? so don't do business with these dogs.

if you are employed by these companies...think well and hard about your future.

 
At Thursday, May 26, 2005 2:18:00 PM, Anonymous the mongoose said...

a farmer was walking home in a blizzard when he stumbled upon a snake, lying in the snow half frozen to death. taking pity on the snake, he brought it home...wrapped it in warm clothes and lay it on his lap in front of the fireplace. a few hours later the snake revived...and promptly bit the farmer who woke up with a startle. "why did you bite me?" said the farmer "after all i did for you?"

"i can't help it." said the snake "after all, i am a SNAKE."

WHEREUPON HE BIT THE FARMER AGAIN FOR GOOD MEASURE.

nakagat na tayo minsan ng ahas na may tatak YGC...pakakagat ba tayo muli?

 
At Thursday, May 26, 2005 2:27:00 PM, Anonymous i eat snakes said...

it's not enought to stake one vampire...you must search out its nest and kill the whole kit and clan. otherwise the remaining ones will come back and go for you.

let's stamp out this nest of vipers!

 
At Thursday, May 26, 2005 4:38:00 PM, Anonymous Anonymous said...

I went to PICC last Friday, May 21 to reimburse the paid tuition fee and submitted complete documents. They asked me to come back for the check on Tuesday, May 24. Upon my claiming of the check yesterday morning, May 25, I was adviced that all releasing of checks were being suspended. I received a text message as well this morning from the processor that received my docs "Due to unsettled issues with SEC affecting the rehab of PPI, we are holding payment until the issues are resolved, refer to Inquirer and Phil Star today business section for details". This clearly shows how unprofessional and unjust they are. They start to issue tuition assistance checks to others and hold when they want to get back at an unfavorable SEC decision. They told me that the decision to with hold payments was SEC's but today based on the newspaper and the text message, it was a PPI decision. Completely immoral!!!! What can you expect when the people behind it are immoral themselves, much as they continue to run PR campaigns to improve their image.

 
At Thursday, May 26, 2005 5:34:00 PM, Anonymous Anonymous said...

Reply to poster above.

Kaya nga stop kasi babayaran na tayo ng buo.

 
At Thursday, May 26, 2005 5:48:00 PM, Anonymous Anonymous said...

don't forget to include the following companies:

Honda cars Kalookan
eCasino (yes, this one venture they'd rather not admit)
ABN-AMRO
Emilio Aguinaldo college (dasma cavite)

major holdings:
ChinaBank

Major Presence:
PLDT (Helen Gree-Dee is board member)
Smart communications (one of the you chonngo son)

 
At Thursday, May 26, 2005 7:02:00 PM, Anonymous Anonymous said...

Where are we now?
The SEC has ordered the revocation of Lifetime Plans' corporate registration. As Lifetime Plan has no juridical personality, the assignment of assets by PPI to Lifetime must now be undone.

Since the assets of PPI are reverted to Lifetime Plans, its financial condition does not warrant rehabilitation. The documents filed by PPI in support of its petition (financial statement, statement of assets and liabilities, etc.) are therefore untrue.

 
At Thursday, May 26, 2005 7:04:00 PM, Anonymous Anonymous said...

The SEC order is a victory for the Coalition, but the war has not been won. There is need to remain vigilant - as the legal proceedings will likely be extended to other fora, such as the court of appeals.

 
At Thursday, May 26, 2005 7:51:00 PM, Anonymous Anonymous said...

With the SEC order, I'm sure that the "shrewd" and "scrupulous" lawyers of the Yuchengcos are busy concocting their formula on how to strike back!

 
At Thursday, May 26, 2005 9:05:00 PM, Anonymous Anonymous said...

the sec decision is only a partial victory for us, what decision order is the order to revoke the incorporation paper of lifetime effective may 25, no other things were mention in their order, lawyers are very creative, with only the revocation explicity stated in the order, the ygc can still find a lot of leeway to sustain their evil plan, the sec says they have done their parts, the question is do they??????, we should not succumb to a false sense of security

 
At Thursday, May 26, 2005 11:41:00 PM, Anonymous Anonymous said...

In a way, the SEC has done its part. They virtually cut-off the vehicle the YGC group used in draining the assets of PPI.

Now the ball is truly in the hands of the court in the RTC of Makati, where the judge happens to be the original partners of the Villaraza, Angcanco. The judge through prudence and circumspect should have not touched the case.

The battle at SEC is a glorious victory! But more battle ahead for all PEP coalition. Most notably in the RTC. How can you expect the Judge to be impartial?

ABANGAN!

 
At Friday, May 27, 2005 12:27:00 PM, Anonymous Anonymous said...

Let's get more data on Judge Barza. To begin with, everyone knows he was original partner of Villaraza Law Office, now known as the Firm. A quick defense is that it is the Ocampo Law Office that is hired to represent PPI and the Yuchengcos in court. But Ocampo Law office is a sattelite of the Firm. Hence the connection. Barza's fairness remains under question.

 
At Saturday, May 28, 2005 10:50:00 AM, Anonymous bmw said...

Will the knight kill the damsel?
Posted 00:13am (Mla time) May 28, 2005
By Solita Collas-Monsod
Inquirer News Service


ON THE FACE of it, the recent decision of the Securities and Exchange Commission to revoke the certificate of incorporation of Lifetime Plans Inc. (LPI) -- the corporation spun off last year from Pacific Plans Inc. (PPI), a move that put the Yuchengco family in the eye of a raging controversy -- may look like a victory of the "good guys" (the traditional/open ended plan holders) over the "bad guys" (the Yuchengcos). Or using another metaphor, a case of a knight in shining armor (the SEC) saving, in the nick of time, the damsel in distress (the plan holders) from the dragon (the Yuchengcos). But a closer examination of the consequences of the order reveals that the victory, if any, will be pyrrhic.

First, any damage to the Yuchengcos will more likely be to their pride (Al Yuchengco sets great store by his name) rather than to their pocket. Why? Because while the SEC decision serves as a death knell to both PPI and LPI, any financial exposure of the Yuchengcos, even including the ambassador's voluntary P250-million capital contribution, may have been more than covered by past dividends from PPI. Any spillover of the financial problems of the PPI/LPI to the rest of the Yuchengco companies will probably be temporary.

Second, the 34,000 remaining holders of traditional plans (where they are guaranteed tuition and other school fees regardless of cost at the time of availment) are not only not going to get any relief as a result of the SEC move, but any chances of the new PPI management turning the company around have just been shot down.

Worse, the SEC decision drags the 400,000 plan holders of LPI (the spin-off was designed to protect them) -- those who have fixed-value education, memorial or pension plans -- into a quagmire from which the possibility of escape may be almost nil.

How so? Let us count the ways:

The revocation of LPI's corporate personality means that its assets and liabilities are now folded back into PPI. But PPI is under a court "stay order" which gives it relief from paying its liabilities. Which in turn means that what is due to the 400,000 plan holders of LPI also cannot be paid, leaving them in limbo. The effect? You now have another 400,000 plan holders who, because of the SEC order, cannot get any availment. Those who are still paying for their plans will have no incentive to continue their payments. What is more, nobody will want to buy any more plans, which in turn puts in jeopardy the livelihood of around 20,000 agents.

The irony of it is that even if PPI were not under a court stay order, the SEC has made sure (albeit unwittingly) that what is due to the LPI plan holders will not be paid. Why? Because at the same time that it issued its decision to revoke LPI's incorporation, it also sent a directive to Rizal Commercial Banking Corp., the Yuchengco bank that manages the trust funds, to "preserve the trust fund of Lifetime Plans Inc., until further orders of the Commission." Sounds like a good order, until you realize that the reason a trust fund is constituted is precisely to assure payments to plan holders, so that "preserving" the trust fund means non-payment of benefits!

Is there a possibility, however remote, that by putting back together the fixed-value plans with the open-ended plans (PPI), and rescinding the court order, as well as the SEC's order to RCBC -- in other words, moving back to the pre-controversy situation-there will be excess profits from the fixed-value operations to pay the open-ended plan holders?

To answer that question, we first have to get a handle on the amount required to ensure that the remaining 34,464 open-ended plan holders (some 40,340 students have already been sent to school; PPI discontinued the plan in 1992, when tuition fees were deregulated) can finish their schooling. Some very rough calculations (no official estimate is available): Last year, PPI paid out P800 million to finance the tuition and other school fees of the 16,000 who were already using their plan. Assuming that those 16,000 will need another three years of schooling; assuming that 18,500 other plan holders will come in this year, that their financial needs are identical to that of the previous 16,000 and that they will be taking four-year courses; and assuming that there will be no increases in tuition fees over that period, then total required outlay will be about P5.6 billion. However, the funds in reserve are valued at P3.2 billion, leaving a gap of P2.4 billion.

Can the company's prospective net income cover that amount? The SEC moves certainly reduce market enthusiasm. Even setting that aside, a look at the audited corporate income of PPI over the period 1992-2004 gives the answer: No way. The largest recorded corporate income for any year was P139 million, with losses of up to P1.4 billion being recorded in the last five years. Including the combined trust fund incomes (which are not fungible), the net income of the corporation averaged something like P100 million a year.

The bottom line: As a result of the SEC order, the "good guys" may have "won," but will get killed in the process, while the "bad guys" (and there is at least some doubt as to their villainy) have been wounded, but are not likely to die. The knight in shining armor shows a dangerous ineptitude, slaying the damsel in distress while trying to save her. Actually, he is turning out to be the more likely villain of the piece.

 
At Saturday, May 28, 2005 12:53:00 PM, Anonymous reader rabbit said...

re monsod's article, she says:
"Second, the 34,000 remaining holders of traditional plans (where they are guaranteed tuition and other school fees regardless of cost at the time of availment) are not only not going to get any relief as a result of the SEC move, but any chances of the new PPI management turning the company around have just been shot down."
okay, firstly...it is a fiction that PPI needs relief because before their moro-moro they were a profitable company. so it is not a company that needs to be turned around...it is Helen who needs to turn around from her path of self-destruction.
monsod further says:
"The revocation of LPI's corporate personality means that its assets and liabilities are now folded back into PPI. But PPI is under a court "stay order" which gives it relief from paying its liabilities. Which in turn means that what is due to the 400,000 plan holders of LPI also cannot be paid, leaving them in limbo. The effect? You now have another 400,000 plan holders who, because of the SEC order, cannot get any availment. Those who are still paying for their plans will have no incentive to continue their payments. What is more, nobody will want to buy any more plans, which in turn puts in jeopardy the livelihood of around 20,000 agents."
SEC negated PPI's grounds for rehab before they revoked Lifetimes existence. so the stay order is a temporary inconvenience because Barza now has no choice but to trash the rehab petition. this will revert PPI to pre-rehab petition status...in the words of SEC "liquid and solvent". they then have no reason to refuse to honor their obligations to planholders, trad or non-trad.
then monsod says:
"Some very rough calculations (no official estimate is available): Last year, PPI paid out P800 million to finance the tuition and other school fees of the 16,000 who were already using their plan. Assuming that those 16,000 will need another three years of schooling; assuming that 18,500 other plan holders will come in this year, that their financial needs are identical to that of the previous 16,000 and that they will be taking four-year courses; and assuming that there will be no increases in tuition fees over that period, then total required outlay will be about P5.6 billion. However, the funds in reserve are valued at P3.2 billion, leaving a gap of P2.4 billion.
Can the company's prospective net income cover that amount? "
well who mismanaged the company anyway? solita, let me just remind you of your own reaction on tv as seen by millions of viewers when you learned that PPI invested in Napocor bonds!
PPI screwed up and they should face the consequences and not pass it off to the planholders who entrusted them with their hard-earned money based on PPI's own words as stated in their own contract!
the planholders did not break the contract, PPI did!
so please naman solita, i know how hard it is to come up with something to write everyday, but putting out a "potboiler" like this is beneath you. "knights and damsels in distress" belong in fiction writing, not respectable editorials.

 
At Saturday, May 28, 2005 1:34:00 PM, Anonymous rabbit slayer said...

Anonymous said...
so please naman solita, i know how hard it is to come up with something to write everyday, but putting out a "potboiler" like this is beneath you. "knights and damsels in distress" belong in fiction writing, not respectable editorials.

How convenient for them to display Solita Monsod's name in their Honor Roll when she was on 'on their side' but when she was enlightened, AYUN LUMABAS NA RIN ANG TOTOONG KULAY NILA. Gusto nilang idamay lahat ng planholders sa perwisyong ginawaga nila.

Anonymous said...
"PPI screwed up and they should face the consequences and not pass it off to the planholders who entrusted them with their hard-earned money based on PPI's own words as stated in their own contract!"

Screwed up? Why don't you look around and realize that all companies which offered the open-ended plans are having exactly the same problems. Talk to planholders from PET, Platinum, Prudential and CAP. Don't talk to their officers kasi hindi magsasabi ng totoo ang mga yun.

Anonymous said...
"okay, firstly...it is a fiction that PPI needs relief because before their moro-moro they were a profitable company. so it is not a company that needs to be turned around...it is Helen who needs to turn around from her path of self-destruction"

Hay naku! Without any valid arguments to back you up, here you go again directing tirades against Helen.

Anonymous said...
"SEC negated PPI's grounds for rehab before they revoked Lifetimes existence. so the stay order is a temporary inconvenience because Barza now has no choice but to trash the rehab petition. this will revert PPI to pre-rehab petition status...in the words of SEC "liquid and solvent". they then have no reason to refuse to honor their obligations to planholders, trad or non-trad"

SEC has no other recourse but to do this to save face because it is through their ineptitude that the crisis came out, starting from CAP, followed by PPI and others soon to follow.

SEC has no power to adjudicate kaya sa korte talaga ang petition for rehab. Nagtampo pero walang maisagot sa petition na maayos kaya Lifetime ang pinagdiskitahan. Tignan mo nman ang timing ng paglabas ng decision to revoke, sa mismong hearing pa na di naman dapat.

Pikon talaga yang si Barin kahit noong nasa ERC pa yan. Saka si Lukban, aba'y wala ng ginawang matino ang 'unanong' yan ah. Why don't he ask for a recording of the Debate program kung saan sya guest at palagi nyang panoorin yung statement nyang kaya inaprub ng SEC ang creation ng Lifetime kasi ok nman mga papeles.

The decision of Barza will be based on the merits of the case not through the 'pre-emptive but full of harassment' decision of SEC.


Anonymous said...
"the planholders did not break the contract, PPI did!"

Well, a contract has many provisions. Don't just cite provisions which are of benefit to you. How about the provisions under Section XV and Plan Termination Values?

A contract should be viewed on its totality not on specific provisions.

 
At Saturday, May 28, 2005 4:16:00 PM, Anonymous Anonymous said...

mukhang misplaced ang posts ng iba. anti-yunchengco rally??? this is stupid way to reslove things. akala ko gusto natin edukasyon ng anak natin, bakit mga pamilya laban sa isang pamilya na ito? kaya lalong gumugulo may mga nanggugulo! ingat kayo sa mga erap gangsters na nakiki-join dito. ginagamit nila tayo!

 
At Saturday, May 28, 2005 4:20:00 PM, Anonymous Anonymous said...

NOT SUPPORTING THESE BUSINESSES ENUMERATED BY ONE FELLOW I SUSPECT TO BE AN ACCOMPLICE FROM ERAP-JUETENG LAND WILL RESULT IN MASSIVE LOSS OF JOBS. LET US NOT CREATE ANOTHER PROBLEM. LET US RESOLVE THIS THROUGH THE COURTS.

 
At Saturday, May 28, 2005 8:18:00 PM, Anonymous Anonymous said...

Resolve through the Courts? With Barza? HAHAHAHAH.... Remains to be seen. Help us God

 
At Saturday, May 28, 2005 9:42:00 PM, Anonymous Anonymous said...

Tale of a Taipan
Posted 08:05am (Mla time) Feb 27, 2005
By Eric S. Caruncho
Inquirer News Service

excerpts

NJ: Building all these big companies, how did you go about it?

AY: You know, to be successful in life, it all depends on luck. It is not your ability. If you are lucky, you will be successful. If you are not lucky, you will not be successful. You know, Confucius once said, "Man proposes, God disposes."

NJ: Is that all your explanation for your being a tycoon?

AY: Just luck. Nothing else. No matter how hard you work, if you are not lucky, there is no way you can succeed.

NJ: My God, I can't believe it.

AY: That's true.

NJ: Your father was lucky. You yourself were lucky, too.

AY: I was luckier. I made more money. You know, one thing I firmly believe in is that a good name is forever. But money, no matter how many millions, can be lost in a day.

...

"I think I said earlier that for me a good name is much more important than a fortune. So my dream is that my children will be able to preserve a good name. The only way they can do that is if they don't fight with each other and they can work together. One possibility is to divide the businesses to be managed by each. Another possibility is that they work as a group, but each has one vote, and all decisions must be made by the majority. As of now, I have not made the decision as to which would be the best. Before I make a decision, I guess I have to talk to them first and find out their opinions also."

It seems that the final chapter in the Alfonso Yuchengco saga remains to be written.
_______
Will his tenet that a good name is forever a wishful thinking?

 
At Saturday, May 28, 2005 11:57:00 PM, Anonymous Anonymous said...

WE TOPPLED A DICTATOR THRU EDSA I AND KICKED OUT A CORRUPT PRESIDENT THRU EDSA II.

TODAY WE'RE FIGHTING AN EVIL CORPORATE EMPIRE THAT DEFRAUDED ITS 434,000 PLAN HOLDERS. OUR SPONTANEOUS RESPONSE TO HELEN DEE'S APRIL 13 COUP IS THE PRIVATE SECTOR EQUIVALENT OF EDSA.

PROUDLY ANTI-MARCOS, ANTI-ERAP, AND NOW ANTI-YGC! NA YUCHENGCO KAMI!

 
At Sunday, May 29, 2005 7:50:00 PM, Anonymous Anonymous said...

"WE TOPPLED A DICTATOR THRU EDSA I AND KICKED OUT A CORRUPT PRESIDENT THRU EDSA II.

TODAY WE'RE FIGHTING AN EVIL CORPORATE EMPIRE THAT DEFRAUDED ITS 434,000 PLAN HOLDERS. OUR SPONTANEOUS RESPONSE TO HELEN DEE'S APRIL 13 COUP IS THE PRIVATE SECTOR EQUIVALENT OF EDSA.

PROUDLY ANTI-MARCOS, ANTI-ERAP, AND NOW ANTI-YGC! NA YUCHENGCO KAMI!"

EDSA I- wasn't there! Was under house arrest by Marcos- anyway my spirit is there.

EDSA 2-Was upfront!

Together with you at Anti-YGC!

 
At Monday, May 30, 2005 12:01:00 AM, Anonymous Anonymous said...

I agree with the two preceding posters. 1986 and 2001 proved that People Power works, and 2005 would be no different - another David vs. Goliath story.

More power to the Coalition!

 
At Tuesday, May 31, 2005 12:22:00 PM, Anonymous Anonymous said...

PROUDLY ANTI-MARCOS, ANTI-ERAP, AND NOW ANTI-YGC! NA YUCHENGCO KAMI!

ANTI-MARCOS? ANTI-ERAP? HAHAHA! YOU MAKE ME LAUGH. E MGA LIDER NYO ERAP AND MARCOS BOYS.

 
At Tuesday, May 31, 2005 6:07:00 PM, Anonymous Anonymous said...

EVEN IF THEY WERE (FOR THE SAKE OF ARGUMENT), THEY'RE NOW REDEEMING THEMSELVES BY FIGHTING FOR A JUST CAUSE ON BEHALF OF 434,OOO DEFRAUDED PLANHOLDERS!

IF YOUR ALLEGATIONS ARE TRUE, THEN THEY MAY HAVE BEEN ON THE WRONG SIDE OF HISTORY BEFORE, BUT DEFINITELY THEY'RE ON THE CORRECT SIDE TODAY. UNLIKE YOU.

 
At Thursday, June 02, 2005 11:06:00 AM, Anonymous Anonymous said...

Never forget that PPI had enough funds in its trust for all plans. Never forget that it had an excess over ARLs until before the transfer of assets in 2004. Never forget that it had over a billion pesos net income before the 2004 transfer. Never forget that PPI/Yuchengco committed fraud and this was all documented even in earlier years when they asked for legal advice for their planned shutdown of PPI traditional plans.

 
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