Tuesday, June 07, 2005

Judge Barza - Hello, we've not forgotten you!

SC: PERC survey on judiciary does not show entire picture
By Jose Rodel Clapano
The Philippine Star 06/07/2005
A recent survey of expatriate businessmen who ranked the Philippines judicial system as among the worst in Asia did not reflect the actual situation in the country’s judiciary, the Supreme Court said yesterday.

In a statement, SC assistant Court Administrator and chief public information officer Ismael Khan Jr. said he was "surprised" by the findings of the survey conducted by the Singapore-based Political and Economic Risk Consultancy (PERC).

"I am surprised at the results of this survey which do not seem to reflect the actual situation on the ground. It is obvious that whoever evaluated the survey results does not have a clear understanding of how the Philippine legal system works and how independent the Philippine judiciary is," Khan said.

Khan said that PERC’s assessment "flies in the face of the latest Social Weather Stations survey which show a very high approval rating for the Supreme Court."

"The recognition extended by many countries of the First World which have more than a nodding acquaintance with the progress that the Supreme Court’s judicial reform program has received is a much more reliable indicator of their regard for our legal system which puts a premium on due process and the rule of law," he said.

Khan said that this fact has been acknowledged by the World Bank, the Canadian International Development Agency, the Asian Development Bank, USAID, the Japan International Cooperation Agency, the European Union, Asia Foundation and many others that have supported the Philippines in this effort.

"In fact, an international conference to be hosted by the Supreme Court in November this year, with the support of the World Bank, will showcase its successful judicial reform programs," Khan said.

The PERC earlier ranked the Philippine judicial system ninth in a survey of expatriate business executives who rated the judicial systems in the region.

"Few foreign investors feel very confident working within the legal system in the Philippines where laws are not built so much on precedents as on quicksand," the PERC concluded.

The Philippines’ rating fell sharply to 8.10 from 7.71 in 2004, ahead of only China, Vietnam and Indonesia among Asian countries.

The same survey ranked Hong Kong and Singapore as having the best judicial systems in Asia. Hong Kong overtook Singapore for the top post, toppling the rival city-state from its pole position in 2004. Japan came in third.

In ranking the countries and cities, the business executives gave weight to how legal systems are used to enforce contracts, resolve disputes, fight intellectual piracy and enforce securities and exchange regulations.

In the PERC rankings, countries and cities were graded on a scale from zero to 10, with zero being the best grade possible and 10 the worst. Respondents were asked to rate quality of the court system and the police force, and the results were averaged to obtain overall scores.

Khan said that the High Tribunal, which celebrated its 104th anniversary yesterday, planned to highlight its celebration by holding a mini-motorcade.

"A mini-motorcade highlighting the SC anniversary celebration, the Justice on Wheels project and other judicial reform activities will pass through the main thoroughfares of Metro Manila," Khan said.


************************************************************************************

This article was in today's Philippine Star. Foreigners do not feel that their contracts will be protected as soon as they put their money in because of their lack of confidence in our court system.

What say you, members, friends and foes of the PEP Coalition, is this a malicious and unfounded attack on our country? Or are you aware of incidents where people choose to run away from their obligations and attempt to muscle their way through the courts of law and public opinion?

What say you, members of the FIRM and Judge Barza? Is it fair to say that this report of this meddlesome foreign group is an indictment of your profession?

As we said, l'affaire PPI is a microcosm of everything that is good and detestable in our fair and native land. How we all conduct ourselves in this crisis will have repercussions way into the future.

60 Comments:

At Tuesday, June 07, 2005 5:31:00 PM, Anonymous Anonymous said...

In fairness, Judge Barza has not done anything yet. so let's not make him a target for a witchhunt.

However, let's remind him that "justice delayed is justice denied".

In our case, we have been denied long enough.

Let things be resolved on June 22, when the next hearing is set, because if things are delayed any further...

 
At Tuesday, June 07, 2005 6:53:00 PM, Anonymous KIT said...

Has the coalition backed out of its arguments/issues discussions and has turned into to general articles and illogically,trying to "massage" it into Pacific Plan's case?

By your statement:

"What say you, members of the FIRM and Judge Barza? Is it fair to say that this report of this meddlesome foreign group is an indictment of your profession?"

you have maligned your own planholders who are lawyers and judges.

The coalition will continue to accuse anyone of fraud,paid,or whatever who disagrees with whatever you say, and for me, and this is even scarier. If this goes to Supreme Court and you don't get a decision that you like, will you continue destroying the reputation of the land's most revered judges since they got in your way?
What makes you the "god" to judge anyone's beliefs or opinions? Who gives you the right to say that a journalist is "paid" just because he has a conflicting opinion from yours? How about a planholder who favors rehab, is he now a paid stooge or a lower class of person? How about a fixed value planholder like me who voices his own opinion, am I now a paid, unprincipled person?

Looking at all the posts in this site, no statement from whatever body of authority will be accepted if it is conflicting with your views. Have you been so blinded by your beliefs that anyone against you is unworthy?

 
At Tuesday, June 07, 2005 8:55:00 PM, Anonymous pikachu said...

It is not judging ones opinion that is the issue of the coalition but whether you stand for what is right. Opinions may vary but morals and ethics are non negotiable. Now you will ask, is the coalition the judge of what is to be considered moral and ethical?
Well, lets say, that a good number of the coalition and maybe even you kit, have a good hold on what is right, moral, ethical and just.
I agree, that we should not be accusing every tom, dick and harry, but we have to be open about the fact that the judicial system in this country isn't exactly just. In the senate today, Sen. Serge Osmena brought up the fact that one of the effects of not being able to settle disputes immediately in this country,( such as the case of the Universal Leisure Club which is going on its 8th year and the case of the Veterans who have not gotten what is due them and now in the case of CAP planholders against the Sobrepenas and you and I whether PEP Coalition member, CARE or whatever group you want to align your allegiance with, have to wait till the Yuchengcos live up to the commitment they promised ) is that the LEVEL OF REGULATORY RISKS is such that any foreign investor will be wary about putting his money into any Philippine investment if he sees that it takes light years for a Filipino to get justice in his own country, then what more for a foreigner who does not know the intricacies of how this whole society/government runs. So you see, don't feel offended if some of us say that the justice system needs some overhauling or re education in the moral and ethical area, cause it is a fact that there are CORRUPT JUDGES & LAWYERS, just as there are GOOD AND UPRIGHT JUDGES AND LAWYERS. Don't take this issue too personal. Be a little more open minded.

 
At Tuesday, June 07, 2005 9:55:00 PM, Anonymous Anonymous said...

"Looking at all the posts in this site, no statement from whatever body of authority will be accepted if it is conflicting with your views. Have you been so blinded by your beliefs that anyone against you is unworthy? "

That's what I call a sweeping generalization and selective reading. You should read the blogs more carefully, kit. In fact, its obvious that you are trying to paint us in the public mind as some sort of unruly rabble blindly spouting party lines. How wrong you are!

Truly, you are making it your mission to make us look bad to the public. That's how I read your statement today, since you again are not going into specifics but making sweeping statements backed up only by your opinion when it's convenient to do so.

For your info, we here in the Coalition are united by our stand against PPI because it broke its contract with us, with the SEC even saying that it did not go to court "with clean hands" in evading its obligations to us. So this is not gobbledygook we invented in our minds and currently peddling to the public. It's the truth!

But we are not a monolithic group and we have diverse opinions on how to tackle things. Some of my coalition members have become rude, and I must apologize for them because frankly, they been screwed real badly and I can't blame them, and so I tolerate them. This is true especially because they've been provoked, with their wounds still gaping and fresh.

Still, we are united in our opposition to the rehab because we believe it is unfair to us and there are better remedies given the "unclean hands of PPI". If you choose not to agree with us, fine. There are other blogs, why don't you join them and discuss your issues with them? In fact, kit, you haven't convince me that we are wrong with your arguments. So you have started to paint us as people who "are blinded by our beliefs". That's name calling too, isn't it? That's branding too, isn't it? Are you saying that if we don't agree with you, we are blinded? HA!

It's clear that no amount of Coalition logic will sway you, kit. Therefore, you will simply brand us the way you have always done. It's time we return the favor...

 
At Tuesday, June 07, 2005 10:40:00 PM, Anonymous Anonymous said...

for someone like Kit so stay glued to this blogsite and malign every post that does not speak well of Yuchengcos and their cohorts (there, I use the favorite word of the yuchengco camp to identify those who oppose them) only reveals his/her true motives. why else would someone so rabidly opposed to coalition view be so religiously monitoring this site unless he/she is paid? As the old saying goes "you have too much time on your hands".

Anyone who can think for a moment will arrive at the answer. no need for further comment. Hindi bobo ang mga tao.

 
At Wednesday, June 08, 2005 8:19:00 AM, Anonymous Anonymous said...

Yeah kit! post your comments on discussions sympathetic to yours!

 
At Wednesday, June 08, 2005 8:24:00 AM, Anonymous Anonymous said...

Kit, I think this site was created b parents to enable parents... is that why you are so popular?

 
At Wednesday, June 08, 2005 9:26:00 AM, Anonymous KIT said...

In response to:

"So you see, don't feel offended if some of us say that the justice system needs some overhauling or re education in the moral and ethical area, cause it is a fact that there are CORRUPT JUDGES & LAWYERS, just as there are GOOD AND UPRIGHT JUDGES AND LAWYERS. Don't take this issue too personal. Be a little more open minded."

Maybe there are corrupt judges,but how gave coalition the power to decide who is corrupt or not without even a shred of evidence? Even the way you "brand" journalists? Do you have evidence of pay-off or just because the journalist did not agree with your views?

"It's clear that no amount of Coalition logic will sway you, kit. Therefore, you will simply brand us the way you have always done. It's time we return the favor... "

That is why I want a discussion on issues to know more about your stand.

"So, if we are to believe this set-up, then you must agree that it is PPI and its shareholders who must take the hit, not any of the planholders. They were doing so in the past but now, for reasons of their own, are refusing to do so."

My question that remains answered by the coalition is "what if YGC refuses to put in money to subsidize your trust fund, where do you expect to get these funds?". Your whole plan assumes that YGC pays up, what if they don't? As mentioned with all current indications, YGC doesn't seem keen on putting additional money. What if they just decide to close PPI & LPI instead of putting additional capital infusion? This will affect all planholders! Are you willing to go this far and bring everyone down with you?


"for someone like Kit so stay glued to this blogsite and malign every post that does not speak well of Yuchengcos and their cohorts (there, I use the favorite word of the yuchengco camp to identify those who oppose them) only reveals his/her true motives. why else would someone so rabidly opposed to coalition view be so religiously monitoring this site unless he/she is paid? As the old saying goes "you have too much time on your hands".

How about you answering posts at 10:30 pm? Can I assume that since you are doing it late at night that the coalition is paying you to post?((Totally Illogical!!) I have my business and my own time and I don't have to defend myself to the coalition.

I want to tell you this, I am passionate to the fixed value planholders' cause and no amount of money can pay for my dedication to what I believe in. I post here because your plans will affect me. If you can prove to me that all your plans will not affect me, then I am out of here. I give you my word.

The coalition has backed out of arguments/issues discussion. It is so easy to concoct baseless accussation. I can create so many wild accusations that have no basis but will generate so much noise. Are you so desperate to resort to this?

Let me create a few baseless accusations(create an environment of doubt,coalition style):

1) You want Judge Barza inhibit himself because the Judge that will take over has been paid by Coalition.

2) Posters in your site is being paid by the coalition. Fees/donations to the coalition are being used for this.

3) Big sums of individual contributions have been donated by unidentified parties. These contributions come from competitors and business rivals of YGC.

4) Posters who encourage downing YGC are competitors of YGC who have infiltrated the coalition. This is the reason why Coalition's focus is bringing down YGC.

5) Coalition leaders main mission is to money through the coalition by charging membership fees and skimming donation money. This is easily done because there are no audit controls on collections.


Examples above are all "BASELESS" and UNFOUNDED (Again: NOT TRUE). However, they will create a lot of noise. Why is Coalition going this route? Are you afraid you will lose in the discussions? I really hope that Coalition can go back to a discussion on issues.

 
At Wednesday, June 08, 2005 10:16:00 AM, Anonymous Anonymous said...

Hey, hey Kit, who are you?

We were screwd, and we choose to fight for the plans we bought. We banded together at that time the officers of the company we bought the plans from refused to listen to us. We organized while we were made to wait for days for the tuition fees of our children in the sidewalk of Kamagong. Out of frustration we decided to call each other, save each other's phone numbers. We sympathized with each other. We decided to group together and get to work and fight for the tuition fees of our children. We grew and we grew and we grew until there came you.

 
At Wednesday, June 08, 2005 10:43:00 AM, Anonymous Anonymous said...

To Kit


Let CE= Commissions/Expenses
Let CO = Cash out
Let PI = Principal + Interest
Let COE = Cash out less expenses/commission

CO CE COE PI
year 1 10,000 1500 8,500 9452
Year 2 10,000 1500 17,952 19962.62
Year 3 10,000 1500 28,463 31650.43
Year 4 10,000 1500 40,150 44647.28
Year 5 10,000 1500 53,147 59099.78
Year 6 59,100 65718.95
Year 7 65,719 73079.48
Year 8 73,079 81264.38
Year 9 81,264 90365.99
Year 10 90,366 100486.98

I’m an ex agent of Pacific plans. Your computation are totally wrong. Why are you using 10,000 at the start of each year as investable funds when my wife was paying quarterly. I was entitled to 10% commission on the first year. What about the over-riding commission of my unit manager, Branch manager, etc. all the way to the top. Certainly the 15% your using is way off target not counting the other expenses like taxes, overhead etc. still to consider. And as mentioned with the poster before me. The pre-need companies themselves admitted that 95% goes to commission and others on the first 2 years. Even Philam, & Ayala Life plans which are considered conservative companies are not putting aside that much for their trust fund as envisioned by you above.

So please show me another table that would convince me because up to now I’m still waiting for a logical explanation otherwise you can’t get my sympathy.

 
At Wednesday, June 08, 2005 11:19:00 AM, Anonymous Vicente said...

Kit,

Vicente here again.

This thread is about Judge Barza or whoever will end up ruling over PPI's rehab petition.

You sound like an educated person so I presume you have heard or read of the Roman query which translates into English as "Who will guard the guards?" The only sensible answer in a democracy governed by law would be: the people.

So, in answer to all your posted questions in this thread, we are "the people" who have to guard the guards. The judiciary, in the person of Judge Barza at the moment, is the guard of our rights. The members of the PEP Coalition, "the people" in this conflict, have the duty to ourselves "to guard the guards". This is where we are coming from.

While we are wary of Judge Barza because of his past association with a certain law firm now aligned with PPI, I for one am willing to grant him some leeway but I am also on guard on this issue. Some are more strident in their vigilance but that's only a matter of degree. Surely you are not so naive as to assume that our country's judiciary is as pure as the driven snow?

 
At Wednesday, June 08, 2005 12:01:00 PM, Blogger SunTzu said...

Kit,
Maybe you can enlighten me about these points

1. In the spinoff of Lifetime, it was represented to the SEC that only the non-educational plans were to have been transferred - NONE of the educational plans were part of it whether fixed or traditional.

This was part of the basis that SEC allowed Lifetime to be incorporated

2. The trust funds of PPI have always been contained in one fund; they were not segregated. But when Lifetime was spun off, I understand it was split down the middle AND PPI was left with Napocor bonds.

These bonds (and any banker can tell you this) are not only illiquid, the company itself has a poor financial track record.

3. The SEC has told Lifetime that because they failed to submit certain requirements and did not fully disclose nor were they transparent about certain matters, their license has been revoked.

My question is are you blaming the Coalition for simply letting the regulatory agencies and other govt institutions know the facts about what PPI did?

Admittedly, if the SEC had monitored more carefully and seen the real manueverings of PPI and Lifetime, we would not be here
in this blogspot. But they did not see it and now that they have, they simply putting Humpty Dumpty back together again.

So why blame the Coalition?

 
At Wednesday, June 08, 2005 12:51:00 PM, Anonymous Anonymous said...

Kit, ang coalition ang biktima. We were betrayed by a corporate giant. Ikaw maswerte ka kasi hindi ka pa inootcho nitong kumpanya. Palagay ko ang ikinatatakot mo ay kung gumamit ng rason si Yuchengco na inubos ng traditional plans ang funds. Pwes habulin mo rin ang PPI/Lifetime. Parang mali ang kinakahulan mo. YOU WILL NEVER AGREE WITH ANYONE IN THIS BLOG BECAUSE IT IS YOUR PERSONAL INTEREST YOU ARE SERVING. OK LANG YON. KARAPATAN MONG MAKAMIT ANG IPINANGAKO SA IYO SA CONTRATA GAYA NAMING LUMALABAN UPANG MAKAMIT ANG IPINANGAKO SA AMIN. BAYAAN MO, PAG INOTCHO KA SUSUPORTAHAN KA RIN NAMIN KASI BIKTIMA KA NA RIN.

 
At Wednesday, June 08, 2005 1:46:00 PM, Anonymous Anonymous said...

When is our next general assembly?

 
At Wednesday, June 08, 2005 2:45:00 PM, Anonymous pikachu said...

Hey Kit, i guess you do enjoy the popularity thats why your taking pains to stay on in OUR blogspot. I was given the web address of YOUR CARE(less) group but you know, I don't want to waste time reading senseless jibberish nor waste time posting my comments as I do not want to lower my standards. As i guessed, you would ask what gives us, the Coalition, the right to decide who is corrupt among the judiciary or the journalists. Hey Kit, have you been in the closet (ooops!!! I don't mean that you're GAY!!! But if you are I don't CARE(less)!!!!)
all your life? We mix around and have lots of friends in the legal profession and the media and I do know that there are corrupt judges, politicians, media etc. Im not going to state who but that's for me to know and for you to find out, when you finaly emerge from your closet and decide to live in this society. As for those who post at 10 or 11 in the evening, that's because they do have to work and just like me, that's the most convinient time to log on or just like now, im taking a break. So why make a big deal of the time spent. This is our blogspot not yours so what if we log on at odd hours of the day.
And Kit, i love your "accusations"!!! Are you working for the YGC spin doctor, Resty Perez? I know the guy too as I met him through another PR guy about 3 years ago but haven't seen him since. Maybe you can send my regards to him. Say I have a picture of him with some chick (not his wife!!!) So how's that for a demolition job? But of course, that pic will remain in my safety box under lock and key as I do not want to destroy anyone just like your bosses, the Yuchengcos and their cohorts are doing. So what about the computation you gave, so complicated but unfortunately its downright WRONG!!!! Im not an actuary, accountant or mathematician, but at least my computations are closer to the real figures and that's because I picked those up during the Senate Hearing on the Pre Need where Miguel Vasquez of the Federation of Pre Need admitted to Sen Roxas that the amounts put into the trust are 5%, 20%, 70%, 70% & 70% for the 1st, 2nd, 3rd, 4th and 5th years repectively. so the reverse percentages are those used to pay the overhead of the pre need companies including commissions. And that's why in the new pre need code, it will be the reverse so that the pre need companies will have to put in more working capital for the first two years instead of using the planholders money to go to the pockets of the agents and executives. As Roxas also said, if the pre need companies do not have enough working capital then they have no business being in business!!!! Isn't that commonsense? I don't know if you are an employee or a businessperson, but I am a businessperson and I did put up my own companies and obviously, I cannot operate relying on the sales I will make to pay for my daily operational costs. I had to make sure I had working capital to begin with. UNDERSTAND GOOD CORPORATE GOVERNANCE? I know you are very worried whether you would get your benefits from the plans you bought, but so are we, worried!!!! As to what will happen if Yuchengco doesn't pay up, well, then they go to prison for syndicated estafa and fraud !!!! Then maybe you and I and the rest of the planholders will be the new owners of the YGC and the Yuchengco Tower!!!!!! So please stop blaming us, the Coalition. If we didn't move, the Yuchengco's would get away scott free from all their fraudulent maneuverings which has already been established and the branches of government and the coalition have the evidence to back up our claims. We are NOT fabricating data cause then we would be accused of libel, we aren't STUPID!!! I am proud to say that members of the coalition come from all walks of life, class A,B,C,D,E,F,G.......and very intelligent people (not saying you aren't) and those with more resources and time are using them to fight for those with less resources and time. The Yuchengcos have been trying to pit social classes and types of plans against each other to remove the focus of their fraud away from the limelight. Don't you know a very popular battle strategy, "DIVIDE AND CONQUER"? Obviously, that's what their spin doctors are working hard at and I just hope you and your group will realize that you are their victims. We aren't against the fix planholders, our fight is against CORPORATE FRAUD done by CROOKS IN BUSINESS SUITS LIKE THE YUCHENGCOs.
And by the way, speaking of social classes, we at the coalition are working cohesively with all classes and we didn't even notice the distinction till the Yuchengcos brought it up. All we know is that we are all VICTIMS and again those who have more time and resources are using it to fight for everyone. Many with less resources cannot afford to spare time off their work otherwise, THEY DON'T GET PAID !!!! so those who can afford to spare their precious time are those fighting for the planholders who have been defrauded by the Yuchengcos. IM NOT GOING TO EXPECT YOU TO ACCEPT WHAT I HAVE SAID NOR WHAT MY FELLOW MEMBERS OF THE COALITION HAVE BEEN SAYING SINCE APRIL 13, 2005, BUT MAYBE ONE DAY, THE HOLY SPIRIT AND YOUR GUARDIAN ANGEL WILL WHISPER IN YOUR EARS AND ENLIGHTEN YOU TO SEE THAT YOU HAVE BEEN HOODWINKED BY THE ALMIGHTY YUCHENGCOS. I just got word that the lawyers representing PPI got fried in this mornings congressional hearing and even the CARE group got "enlightened" when they finally saw our presentation of FACTS. I wish you were there, or were you? Just keep an open mind and maybe if you have the guts to come out in the open and face us, we can also ENLIGHTEN YOU so you don't continue being hoodwinked by the Yuchengco's cause by the way, they (LOLO ALFONSO AND TITA HELEN) will be summoned!!!!!!!

 
At Wednesday, June 08, 2005 3:16:00 PM, Anonymous Anonymous said...

Hey, Pikachu...Amen to that sermon! Sana matahimik na si Kit.

 
At Wednesday, June 08, 2005 4:27:00 PM, Anonymous pikachu said...

Your welcome Anonymous!!! Im raring to go face to face with Kit. Just as long as he/her doesn't debate with me in the vernacular, he/she may run out of words with me!!!!! Hahaha! Sanay ako sa debate. With three teenage kids, you gotta hone your skills in sensible debate and arguments.
Im thinking of calling Pareng Oca and ask him to sked a debate show with the coalition vs. the CARE/Pro rehab group. That would certainly bring up the ratings of GMA 7.

 
At Wednesday, June 08, 2005 5:47:00 PM, Anonymous KIT said...

In response to:


"I’m an ex agent of Pacific plans. Your computation are totally wrong. Why are you using 10,000 at the start of each year as investable funds when my wife was paying quarterly. I was entitled to 10% commission on the first year. What about the over-riding commission of my unit manager, Branch manager, etc. all the way to the top. Certainly the 15% your using is way off target not counting the other expenses like taxes, overhead etc. still to consider. And as mentioned with the poster before me. The pre-need companies themselves admitted that 95% goes to commission and others on the first 2 years. Even Philam, & Ayala Life plans which are considered conservative companies are not putting aside that much for their trust fund as envisioned by you above.

So please show me another table that would convince me because up to now I’m still waiting for a logical explanation otherwise you can’t get my sympathy.
"

First, let me compute your effective rate of return from your point of view:

Cash out Principal + Interest
10,000 10,900
10,000 22,781
10,000 35,731
10,000 49,847
10,000 65,233
71,104
77,504
84,479
92,082
100,370


Effective interest rate of 9% (far below the traditional plan of 15%+). Therefore, with T-bonds at 12%+, PPI has 3% margins for expenses/commission which is industry average. At 12% T-bonds, PPI is making 25,394 total off your plans. Less 10% for your commission, brings 15,394 for expenses/overrides for a 50,000 plan.

For a traditional plan that earns 15%, PPI will be having instead a deficit of 25,000!!
My point to everything still is how do you expect PPI to pay your plans if you cannot find an investment that matches it.

-----------------------

"While we are wary of Judge Barza because of his past association with a certain law firm now aligned with PPI, I for one am willing to grant him some leeway but I am also on guard on this issue. Some are more strident in their vigilance but that's only a matter of degree. Surely you are not so naive as to assume that our country's judiciary is as pure as the driven snow? "

I admit that there may be corrupt judges, but how can you pinpoint Judge Barza based on nothing? You are accusing a judge who has not performed anything malicious at this time. In fact, you are "poisoning the well", before any judgement has been rendered. So, if he rules in your favor, you will restore his credibility? How powerful you are and by the way, damage has been irrevocably done.

Being vigilant is very different from destroying one's integrity when in fact, nothing out of the ordinary has happened.

---------------
"
1. In the spinoff of Lifetime, it was represented to the SEC that only the non-educational plans were to have been transferred - NONE of the educational plans were part of it whether fixed or traditional.

This was part of the basis that SEC allowed Lifetime to be incorporated"

If you look in your website at "http://pacificnoplan.blogspot.com/2005_05_01_pacificnoplan_archive.html"

PPI letter to SEC which states"

"...
After further stidy of teh reorganization plan, it has become apparent that greater efficiency and market focus can be achieved by consolidating fixed value businesses into one sperate entity

Consequently, we propose for your approval a revised organization plan where Pacific Plans shall spin off its Educational Fixed Value Plans, Pension Plans, and Memorial businesses into a sperate company..."

PPI submitted above letter which was approved by SEC.


2. The trust funds of PPI have always been contained in one fund; they were not segregated. But when Lifetime was spun off, I understand it was split down the middle AND PPI was left with Napocor bonds.

These bonds (and any banker can tell you this) are not only illiquid, the company itself has a poor financial track record.

Again, look at your website and SEC was properly informed about this division of the trust fund which they approved.


3. The SEC has told Lifetime that because they failed to submit certain requirements and did not fully disclose nor were they transparent about certain matters, their license has been revoked.

My question is are you blaming the Coalition for simply letting the regulatory agencies and other govt institutions know the facts about what PPI did?

Huh?!! Government agencies knew all about above actions.
---------------

To Pikachu:


"for those who post at 10 or 11 in the evening, that's because they do have to work and just like me, that's the most convinient time to log on or just like now, im taking a break."

Ok. Then just because I have been actively posting this past few days, give me also a break! See, know you know how it feels to get the receiving end of baseless accusations? Someone accused me of a "paid hack" because I have been actively posting.
-------------

"We are NOT fabricating data cause then we would be accused of libel, we aren't STUPID!!!"

How about ommission of data? Look into the coalition's analysis of investment vehicles that match tuition, no taxes!!! In fact, I say you are in fact too WISE instead of stupid, omitting taxes in your report.

-------------

And Kit, i love your "accusations"!!! Are you working for the YGC spin doctor, Resty Perez? I know the guy too as I met him through another PR guy about 3 years ago but haven't seen him since. Maybe you can send my regards to him.

Thanks. I love the Coalition's accusations too, well crafted! Same as mine though, baseless! . Unfortunately, I don't know Resty Perez. As mentioned, my passion for this is pure and true and cannot be bought!!!!

-------------

"Miguel Vasquez of the Federation of Pre Need admitted to Sen Roxas that the amounts put into the trust are 5%, 20%, 70%, 70% & 70% for the 1st, 2nd, 3rd, 4th and 5th years repectively. "

Was he referring to PPI? Before I do calculations, show me an article that mentions that PPI does this. In fact, one of your posters just mentioned he received a 10% commision only from PPI. Been looking for this article, could not find it. I only saw articles that CAP is giving 20% commissions.

-------------
"Then maybe you and I and the rest of the planholders will be the new owners of the YGC and the Yuchengco Tower!!!!!!"

You are a businesswoman. You know that the extent of liability is only within a corporation. You must realize that even if the whole LPI/PPI is given to us planholders, ASSETS will not cover your tuition fees! Worst part is you will be dragging all planholders in your mess!
---------------

 
At Wednesday, June 08, 2005 6:49:00 PM, Anonymous Anonymous said...

Speaking of the senate hearing on the preneed plan fiasco yesterday, have any one notice that its not in any major newspaper that I checked like inquirer, manila times or manila bulletin! Many bombs have been drop against the "syndicated swindlers" like You change co. and the Sobre Pennies. It seems that the senate hearing was not news at all anyway, unlike the usual killing here and there, rape by her father or grandfather, or kapit bahay; you know the boring usual staff. Or the sobres/envelopes of the “syndicated swindlers” have been mobilized that its soo big that it’s hard to resist by all concern. Its ok, take it guys, in this hard times moneys hard to come by whether from jueteng or erap or from Lion King, take it, anyway the Truth will take care if it’s self or else Karma will do the rest. So to those who are still doing business with this ‘professional syndicated swindlers”, better you change co. or you will get screwed by their sobrapennies.

 
At Wednesday, June 08, 2005 7:41:00 PM, Anonymous Anonymous said...

To Kit,
I'm so amazed that despite admitting that you are NOT a PEPTRAD planholder, you spend A LOT OF TIME in this blog.

Do you spend as much time in the other blog, the so-called enlightened planholders? After all, you are espousing the same cause, right?

 
At Wednesday, June 08, 2005 8:06:00 PM, Anonymous Anonymous said...

Let me assume KIT is a reasonable person. He asked:

"My question that remains answered by the coalition is "what if YGC refuses to put in money to subsidize your trust fund, where do you expect to get these funds?". Your whole plan assumes that YGC pays up, what if they don't? As mentioned with all current indications, YGC doesn't seem keen on putting additional money. What if they just decide to close PPI & LPI instead of putting additional capital infusion? This will affect all planholders! Are you willing to go this far and bring everyone down with you?"

Personally, I beleive, YGC will have to pay up Kit. Deciding to close PPI will be another major blunder in his part. As things are now, SEC is haunting him already, the Senate is after his scalp too, and his business is already crumbling down. If he aggravates his own situation, he ends up losing more than the 10 billion he currently owe us.

You can assume he will not pay up or is going to close PPI. That's definitely not in the horizon. I think, he is worth more than the 10 billion he owe Pacific planholders like you and me.

With all these problems Yuchengco caused and started, I still trust, he will get what he deserves no matter what he does.

Will you let him not pay up? Will you let him close PPI? Ask yourself these.

If you say yes, then I envy you, you are reasonable and rationale. More power to you!

 
At Thursday, June 09, 2005 7:53:00 AM, Anonymous Anonymous said...

Again, all these discussions with this Kit or whoever, whether legitimate planholder or paid hack, is going off tangent.

There is no reason to discuss theories and probabilities on how PPI/Yuchengco could get investment yields to match tuition fee increases. THAT IS ALL BESIDE THE POINT. EVERYONE IS BEING DRAGGED INTO A POINTLESS DISCUSSION.

THEY RENEGED ON THEIR CONTRACT. PROBLEMA NG PPI/YUCHENGCO TO COME UP WITH THE MONEY TO PAY FOR THEIR OBLIGATIONS. PROBLEMA NILA. PROBLEMA NILA. PROBLEMA NILA. NOT THE PLANHOLDERS. IF THEY USED TO INFUSE FUNDS FROM STOCKHOLDERS' EQUITY, THEN DO THAT AGAIN. AND AGAIN. AND AGAIN. AND AGAIN. UNTIL THEY PAY OFF ALL OBLIGATIONS. ITS AS SIMPLE AS THAT. WHERE THEY GET THEIR EQUITY TO INFUSE? AGAIN, THAT'S THEIR PROBLEM. THEIR PROBLEM. THEIR PROBLEM. PASENSIYA. THIS IS A BUSINESS. YOU WIN SOME, YOU LOSE SOME. BUT YOU STAY HONEST AND FAIR WITH YOUR PLANHOLDERS.

SO TO EVERYONE, PIKACHU, VICENTE, SUNTZU, ETC., DON'T WASTE YOUR PRECIOUS TIME AND BRILLIANT MINDS ON THIS KIT OR WHOEVER.

That's the way the spindoctors are maneuvering focus. Everyone posting gets caught in the pointless and baseless discussion.
Stop wasting time with Kit or whoever. We all know the answers and the truth. They may ramble on about fixed versus traditional, investment yields versus tuition fees, rehab versus non-rehab, etc., etc., etc., and all of that is USELESS.

NO NUMBERS ARE NEEDED HERE. THE BONE OF CONTENTION IS THAT THEY DEFRAUDED THE PLANHOLDERS. EVEN GRANTING, GRANTING, GRANTING THAT PPI/YUCHENGCO (ALONG WITH ITS GLOBAL RESOURCES TO SUMMON INVESTMENT EXPERTS) IS SO WEAK AND INEFFICIENT IN HANDLING PLANHOLDERS' MONEY, IT STILL DOES NOT GIVE THEM A LEGAL BASIS TO RENEGE ON CONTRACTS AND TO MANEUVER A RESTRUCTURING THE WAY THEY DID. DISCUSSING TECHNICAL DETAILS ON TRUST FUND YIELDS AND TUITION FEE INCREASES IS DIGRESSING.

WE CAN DISCUSS THAT IF WE'RE TALKING ABOUT FUTURE LEGISLATION AND PROSPECTIVE PROTECTION FOR PLANHOLDERS. BUT IN THIS CASE INVOLVING PPI/YUCHENGCO? THAT JUST ISN'T A MATTER FOR DISCUSSION HERE.

Time and again, it has been said here, that anyone who argues AGAINST the coalition cause MUST argue IN PROMOTION of the cause. We may argue about strategies and whatnot, but all IN PROMOTION of the cause. Anyone who argues to DETRACT from the cause CANNOT be legitimately accepted as being an honest-to-goodness person fighting for what is true and right.

See, that's the beauty of LOGIC and REASONING. There's just no way to twist it. That is how it is so darn easy to spot legitimate planholders who may be uneducated with the facts from dissenters who are out to fight the coalition.

SO TO EVERYONE, STAY FOCUSED AND FORGET THOSE WHO ARE A WASTE OF TIME.

 
At Thursday, June 09, 2005 9:25:00 AM, Anonymous Anonymous said...

To Kit

Cash out Principal + Interest
10,000 10,900
10,000 22,781
10,000 35,731
10,000 49,847
10,000 65,233
71,104
77,504
84,479
92,082
100,370
Effective interest rate of 9% (far below the traditional plan of 15%+). Therefore, with T-bonds at 12%+, PPI has 3% margins for expenses/commission which is industry average. At 12% T-bonds, PPI is making 25,394 total off your plans. Less 10% for your commission, brings 15,394 for expenses/overrides for a 50,000 plan.



Are you trying to make me laugh. I’m still waiting for a logical table to prove that fix plans are safe. Your previous table has more sense than the present one. At first I thought you were an intelligent person but now you just proved to me of your ignorance. My grade 7 son can compute better than you. What happened to all the deductions for expenses. As I said the plan was paid quarterly. When I said I got 10% commission in the first year that was for me alone. What about all those above me who got over-riding commissions like the unit manager, branch manager, regional manager, etc. all the way to the top. Aside from their other expenses. Why don’t you ask Pacific and find out how much is set aside each year for its trust before you come up with another table. Or better, why don’t you ask Philam and Ayala Plans too and lets see if any comes close to the amount of money place in their trust.

Why don’t you debate with one of the coalition member to prove to all of your intelligence or are you afraid that its your ignorance that would be proven and at the same time prove that your for real and not just a paid PR of the Yuchengco’s.

 
At Thursday, June 09, 2005 9:40:00 AM, Anonymous pikachu said...

You're right anonymous, we shouldn't waste our brillant minds on guys/gays/gals like KIT. Actually, I just use him/her/it to hone my skills in writing and debate. It amuses me and yes maybe if we all just ignore him/her/it then maiinis nalang sya. Why give significance to a NON ENTITY !!!! But i shall continue to log on the blog when I need to be amused by posts such as KITS during my breaktime. I would have wanted to rebutt his/her/its rebuttal to my post but what the heck. I would rather debate with my three teenage kids who have more sensible issues to discuss with rather than someone who loves to cry foul and just like his/her/its bosses the Yucheatco's keeps pointing the blaming finger on the Coalition for his/her/its predicament, as if we aren't all the same boat. I just remembered my kids when they were very very young. When they get frustrated with something they cannot figure who is responsible they cry and argue senselessly but that was understandable because of their young minds then. Im glad though that they have matured into sensible adolescents and ready for this cruel society and the likes of people like KIT who has nothing else to do but gripe and blame others and intrudes into someone elses territory where he/she/it is not wanted. Well anyway, lets just have pity on the guy/gay/gal as he/she/it may be just looking for a shoulder to cry on!!!! ITULOY AND LABAN COALITION HANGGANG MABAYARAN TAYONG LAHAT, PATI NA RIN SI KIT PARA TUMIGIL NA ANG PAG IIYAK NYA AT MAKULONG ANG MGA "ESTAPADOR", "MANDARAMBONG" !!!
(terms used by some people in the senate, congress and media to identify the culprits of these corporate frauds.) SO KIT, KITA KITS NALANG TAYO SA MCDO!!! MABUBUSOG PA TAYO IMBES NA MAIPATCHO SA PINAGSASABI MO!!!!

 
At Thursday, June 09, 2005 10:48:00 AM, Anonymous Anonymous said...

Hey Kit, u might not know that most ppi planholders are also lfi planholders! if ygc can to this to ppi today, certainly, they would do that to lfi in the future! Why then did they sell ppi to gpl, then to exemplar in just a short span of time?

If not stopped, their scheme would certainly affect the whole pre-need industry and might led to a series of scams for the rest of the pre-need companies!

Why should other pre-need companies pay bloggers here when the victory of ygc would open their options in case they want to get away from their obligations???

 
At Thursday, June 09, 2005 11:11:00 AM, Anonymous Anonymous said...

"Why should other pre-need companies pay bloggers here when the victory of ygc would open their options in case they want to get away from their obligations??? "

Other companies are indeed putting in a thing or two against ygc as any decrease in market share will mean a larger share of the pie. Likewise, if ppi would be given the a-ok to proceed with the rehabilitation, expect more companies to follow suit.

 
At Thursday, June 09, 2005 11:44:00 AM, Anonymous Vicente said...

Kit,

"I admit that there may be corrupt judges, but how can you pinpoint Judge Barza based on nothing? You are accusing a judge who has not performed anything malicious at this time. In fact, you are "poisoning the well", before any judgement has been rendered. So, if he rules in your favor, you will restore his credibility? How powerful you are and by the way, damage has been irrevocably done."

This is my final comment to Kit on this thread.

We have a copy of a record that shows that Judge Barza was a founding partner of the predecessor law firm of what is now the Villaraza Angangco law firm. This latter firm, as already known by all, has represented PPI in the past.

A motion to inhibit does not necessarily mean that the judge has already done something wrong. It is made when it is felt that the judge may not be as impartial in a case as he should be, given the circumstances of the case and his own background. Perhaps it may do you some good to talk to a lawyer friend or two of yours about this point of legal ethics. Perhaps he or they may have more success than us in persuading you about why this is a most important point in any legal confrontation.

 
At Thursday, June 09, 2005 2:10:00 PM, Anonymous KIT said...

In response to:

"A motion to inhibit does not necessarily mean that the judge has already done something wrong. It is made when it is felt that the judge may not be as impartial in a case as he should be, given the circumstances of the case and his own background. Perhaps it may do you some good to talk to a lawyer friend or two of yours about this point of legal ethics. Perhaps he or they may have more success than us in persuading you about why this is a most important point in any legal confrontation. "


I present to you article below:


http://www.manilamail.com/archive/sep2002/02sep10.htm
--------------
EAST ASIA SIDELIGHT: During the continuation of the trial of Jose Armando Eduque, Antonio Herbosa et al., last Aug. 29, the lawyers of Eduque moved that Judge Romeo F. Barza of Makati RTC Branch 61 inhibit himself because they read in the newspapers that he was a founding partner of the Carpio Villaraza Barza & Cruz Law Offices and that Carpio Law is involved in the settlement of East Asia Capital Corp’s creditors.

The judge could have denied the motion, because Eduque’s lawyers failed to prove that the Carpio Law was involved in the said settlement and in the prosecution of the civil aspect in the case before the court. Besides, Barza already dissociated himself from Carpio Law 17 long years ago.

However, in the trial of another accused, Antonio Herbosa, the judge elicited from him the fact that Dona Consuelo Madrigal, who was Barza’s client before his appointment to the judiciary, holds significant interest in East Asia, and that Susana Madrigal-Eduque, a director of East Asia, is the wife of accused Eduque and the same Susana Madrigal who is the daughter of Don Antonio Madrigal, who, in turn, was Barza’s client when the judge was still in private practice.

With these disclosures, Barza immediately cut the proceedings and inhibited himself. We wonder if the lawyers of Eduque from Romulo, Mabanta Law collected their fees for that day. The judge inhibited himself not because of their motion based on a news clipping, but because of the judge’s own cross examination of the accused.

Moral of the story: A great lawyer should not rely only on newspaper accounts. He should not only study his case, but also study the judge.

-------------------

Above shows that Judge Barza is indeed an honorable man. He inhibited himself, on his own volition, when there was a potential conflict of interest. His decision not to inhibit himself shows that Yuchengco was never his client. If you can show that Judge Barza had the Yuchengcos as his client ever, than I am with you on this.
If Yuchengcos were never his client, you cannot ask accuse a judge of conflict of interest when the association was over 20 years ago(article is 3 years old) and the Judge was never involved with the Yuchengcos. In other words, again your accusations are again baseless and "full of air". However, still noisy as you prefer.
Also, if association with a law firm alone is sufficient to inhibit oneself, then this will become a dangerous precedent. Since most top judges came from law firms, all will be labelled "guilty by association" just because they hear cases represented by law firms which they once joined and left decades ago.
BTW, do you guys research at all? Found the article in 5 minutes. Or again, is this a deliberate "ommission" of data to support your cries of injustice.

 
At Thursday, June 09, 2005 2:16:00 PM, Anonymous Pandy said...

Precious time and space has been wasted reponding to Kit. In the meantime, no one has written about the Senate inquiry. It was SO GREAT, the Senators were SO ON OUR SIDE, there were such memorable comments: Jamby Madrigal saying "It seems we are dealing with criminal minds here" referring to the machinations of Pacific Plans; Lim saying that both the Sobrepenas and the Yuchengcos should be charged with "syndicated estafa"; Osmena, the hero of the day, saying the buying of Napocor bonds was a "scam" and was a "juicy" story that he would go into in the future! A GREAT and POSITIVE story that we have neglected to inform the readers of this blogspot who could not attend. Why do you guys let Kit set the agenda of what is discussed here? WE SHOULD BE MORE PROACTIVE AND CHOOSE WHAT WE WILL EXPOSE AND DISCUSS, not just react to PPI's goadings. Please, someone who can write well, tell the story of that great Senate meeting!

 
At Thursday, June 09, 2005 3:17:00 PM, Anonymous Anonymous said...

Thank you Pandy!

I wasn't able to go to the Senate, so I'd love to hear what happened. I scanned the newspapers the next day but found nothing. I've been checking this blogsite and the egroup, but so far, not much info about what happened.

You're right. Guys / gals, please post what happened in the Senate and forget Kit. I've long deduced that he is not who he pretends to be (check out the change in tone and persona in the investment vehicle thread) and am no longer responding to whatever he says or posts.

 
At Thursday, June 09, 2005 4:03:00 PM, Anonymous Anonymous said...

It's very clear in our written agreement that PPI guarantees to pay tuition fees of scholar no matter what the costs at the time of availment, and my obligation to enjoy this benefit is the payment of premiums. which I did.

So I won't bother myself understanding how PPI/Yuchengco managed and operated Pacific Plans. They must honor their obligation and pay full tuition fees of my scholar.

Notwithstanding my apathy to their management style, I tend to believe what I am hearing now about YGC. Do they really usually resort to rehab plan/bankruptcy when faced with difficult situations? How many of the 41-Yuchengco-owned companies have been shut down? and how many of the above corp. continued operating, with a clean slate, the next day with practically the same officers and employees doing the same line of business?

Magbayad dapat ang may utang!

 
At Thursday, June 09, 2005 4:19:00 PM, Anonymous KIT said...

In reponse to:

"SHOULD BE MORE PROACTIVE AND CHOOSE WHAT WE WILL EXPOSE AND DISCUSS"

Is this another "ommission" of data strategy? Why don't you post the whole transcript?

"I would rather debate with my three teenage kids who have more sensible issues to discuss with rather than someone who loves to cry foul and just like his/her/its bosses the Yucheatco's keeps pointing the blaming finger on the Coalition for his/her/its predicament, as if we aren't all the same boat."

Yes, Pikachu, I think you should leave debating to your children because you can easily withhold their allowance to get them to agree with you.

"You can assume he will not pay up or is going to close PPI. That's definitely not in the horizon. I think, he is worth more than the 10 billion he owe Pacific planholders like you and me."

If PPI/LPI follows the same path as what CAP planholders want, then PPI&LPI will be under SEC's receivership. What will happen? Still no money as assets will be liquidated and unfortunately future availing and fixed value planholders might be on the losing end.

"I've long deduced that he is not who he pretends to be (check out the change in tone and persona in the investment vehicle thread) and am no longer responding to whatever he says or posts."

It is still me and whatever ploy you have to descredit me doesn't change all the facts that I have shown in all my posts. You have come to the point of analyzing tone of messages, how about analyzing arguments? You cant??!

BTW, read an article from the inquirer today from COPW,Consumer and oil price watch headed by Raul Concepcion, stating that CAP Planholders haven't been paid for 2 years and tuition fees increased 55% per year from 1990-1995 and 25% per year from 1996-2000. Also, they are pushing for liquidation of trust fund assets. Discrepancies will be a lot higher than what I posted since I assumed 15% increase only.

I come to this blog to learn more about your arguments in the hope that I will believe in your cause. Unfortunately, it has become the opposite as I am more certain now that this Coalition is all noise with no "meat". Until you come up with more sensible arguments, I will be out of here. Go out and celebrate as you chant your cries of injustice,creation of illogical arguments by ommission of data,and creation of an environment of doubt, without anyone questioning you about anything.

 
At Thursday, June 09, 2005 4:44:00 PM, Anonymous Anonymous said...

Whether Pacific Plans, Inc.’s Traditional Education Plan product design is flawed or its past or current management failed in its investments, or the spin-off was the most logical thing to do to protect the other 400,000 plan holders, WHATSOEVER, we, the open ended education plan holders, have all the right to demand the full schedule of benefits for our children’s tuition expenses at whatever cost at the time of need. Not at year 2010. This is not an issue between the agents who sold it to us and ourselves. This is not an issue on the fate of the PPI agents who oppose our views and fear for the loss of their future income brought about by our bold step in forming the coalition. This is not an issue between open ended plan holders and fixed plan holders. This is not an issue between the new or old set of employees of PPI and us. This is an issue between Alfonso Yuchengco, the owner of PPI and us. We bought these plans. We stuck by our obligations. We paid these plans in full. Mr. Alfonso Yuchengco is liable not to the coalition but to all of us. All thirty four thousand of us, plan holders with CERTIFICATES OF FULL PAYMENT.

 
At Thursday, June 09, 2005 5:07:00 PM, Anonymous Anonymous said...

"Jamby Madrigal saying "It seems we are dealing with criminal minds here"

Jamby? Hahaha! Pakitanong nga sa kanya kung paano ang kalakaran ng mga kumpanyang pinapatakbo nila bago sya magsalita ng ganun. Sa mga businesses nila involving may real estates or lots, andaming fine prints sa contracts nila to the disadvantage of their clients. Pag magreklamo naman, wala ring pinupuntahan mga yun kasi naglalagay sila.

JAMBY MADRIGAL? HEHEHE! PAKITANONG KUNG MAGKANO ANG EXPOSURE NYA SA FAMILY BUSINESS NILA = PERMANENT PLANS.

CRIMINAL MINDS? MORE LIKE THEM TALKING TO THE MIRROR. MAGKANO BA GINASTOS NYAN PARA MAGING MEMBER NG COMMITTE ON IGNORANCE SA SENADO.

 
At Thursday, June 09, 2005 6:32:00 PM, Anonymous Anonymous said...

Hoy KIT,

kung sino ka man, at dhil kami ay pinapaniwala mo na matalino ka (KUN)), mabuti pa ay makipagkausap ka kay Amb Yuchengco at pakipaliwanag ang lahat ng pinaggagawa niya. Alam, mo may katapusan din ang lahat ng bagay.wag ka ngang mayabang, sa totoo lang di ka nakakatuwa. nagsasayang ka lang ng oras mo sa pagpapakailam mo sa amin. di ka magwawagi. mabuti pa tumahamik ka na lang at gumawa ka ng kabutihan, dahil alam mo ba sobrang dami ang tinamaan sa kawalanghiyaan ng mga yuchengco. sabi nga ay kinakarma na din ang RCBC sa bilyong-bilyong withdrawals, at mayroon pang nahulog na innocenteng bata sa theatre nila dahil sa pabaya ng RCBC theatre.
ever heard of CONSCIENCE?

 
At Thursday, June 09, 2005 7:33:00 PM, Anonymous Anonymous said...

Below is the true computation of a trust fund at 11% net compounded / annum. It is base on the testimony of Mr. Vasquez, president of the Phil. Pre-need Ass. which he stated in a recent senate investigation on the % of payments place on the trust fund. 5% 1st year, 20% 2nd year, 70% 3rd – 5th year. Certainly Mr. Vasquez credibility is beyond doubt compared to a person named Kit who only uses figures in his own imagination to fool himself. His true identity has revealed himself as non other than a paid PR of the Yuchengco and certainly not a plan-holder that he would want us to believe. To simplify everything I’m using annual payment.

Let CE= Commissions/Expenses
Let CO = Cash out
Let PI = Principal + Interest
Let TF = Trust fund

11%

CO CE TF PI
year 1 10,000 9,500 500 555.
Year 2 10,000 8,000 2,555 2,836.
Year 3 10,000 3,000 9,836 10,918
Year 4 10,000 3,000 17,918 19,888
Year 5 10,000 3,000 26,888 29,846
Year 6 29,846 33,129
Year 7 33,129 36,774
Year 8 36,774 40,819
Year 9 40,819 45,309
Year 10 45,309 50,293

By the way this was done by my incoming grade 7 son. As you can see his math is much better than Kit. She bought a pension plan from Pacific with more or less 50,000 payout payable quarterly in 5 years. On the 10th year she is suppose to receive 100,000. Using this table just proves to everyone that even the fix value pension plan of my wife is also at risk. Nobody knows what’s in store for fix value plans once Pacific has gotten rid of complaining trad plan holders.

To Kit, don’t bother to respond for you’re a fake. Let us not bother with this pest anymore. As others have said just allow him to continue posting in our site since that was what he was hired for by the Yuchengco’s.

To fix plan holders, How sure are we that Lifetime will not do the same to us.

 
At Friday, June 10, 2005 12:04:00 AM, Anonymous Anonymous said...

"I come to this blog to learn more about your arguments in the hope that I will believe in your cause. Unfortunately, it has become the opposite as I am more certain now that this Coalition is all noise with no "meat"."

SO LET IT BE. WE DON NOT OWE YOU ANY EXPLANATION.

 
At Friday, June 10, 2005 1:42:00 AM, Anonymous Anonymous said...

In as much as I would not want to comment on Kit's postings, I just have to as I am with the core group.

-------------------------------

"Let me create a few baseless accusations(create an environment of doubt,coalition style):

1) You want Judge Barza inhibit himself because the Judge that will take over has been paid by Coalition."

==> COMMENT - Please! Aren't you talking about your "idols", the Yuchengcos? Don't generalize. We are not like them.

"2) Posters in your site is being paid by the coalition. Fees/donations to the coalition are being used for this."

==> COMMENT - Huh? Posters in the site are FREE.

"3) Big sums of individual contributions have been donated by unidentified parties. These contributions come from competitors and business rivals of YGC."

==> COMMENT - You must be hallucinating! What big contributions are you talking about? The coalition has received a few donations only and meager amounts of P1000 to P5000 only. I don't consider these "big sums" of contribution. If the coalition has much money, we would have advertised in newspapers. But have we done this? NO. We are just depending on this blog and the human network like text. If you have some basis, who are these contributors?

"4) Posters who encourage downing YGC are competitors of YGC who have infiltrated the coalition. This is the reason why Coalition's focus is bringing down YGC."

==> COMMENT - What the coalition has been "exposing" about the Yuchengcos have factual basis. In fact, a number of the materials come from the YGC people themselves. Why do you think they did this? Simply because they could not "stomache" what their bosses did, especially Hell-en DEE-monyo.

"5) Coalition leaders main mission is to money through the coalition by charging membership fees and skimming donation money. This is easily done because there are no audit controls on collections."

==> COMMENT - Again, are you talking about the coalition or the YGC? The logic of what you said was the exact scheme of YGC in PPI. They earned a lot from the TRAD plans. In fact, inside info says that PPI was the "milking cow" (perhaps next to the bank) of the YGC in the 90's. They diverted money from PPI to the other YGC companies. Don't DARE ask me if I have proof? I will throw back the question to you. What is your basis in saying that the coalition leaders mission is to get money via the membership fees/donations? The coalition fund is mainly used for office and logistics expenses. YOU JUST DON'T KNOW THE SACRIFICES AND EXPENSES THAT THE LEADERS BEAR AND ABSORB JUST TO FIGHT FOR OUR CAUSE.


THE COALITION CAN "OPEN ITS RECORDS" TO ANYONE WHO WANTS TO AUDIT ITS FINANCIALS. We have nothing to hide. Can your "idols" do the same? I don't think so.

=================================

"I come to this blog to learn more about your arguments in the hope that I will believe in your cause. Unfortunately, it has become the opposite as I am more certain now that this Coalition is all noise with no "meat". Until you come up with more sensible arguments, I will be out of here. Go out and celebrate as you chant your cries of injustice,creation of illogical arguments by ommission of data,and creation of an environment of doubt, without anyone questioning you about anything."

1. Kit, be true to yourself. No way will you ever believe in our CAUSE.

2. Since you are CERTAIN that you will not learn anything from this blogsite and that we have no "meat", then, why are you still wasting your time going through our comments?

3. I'm now telling you that we will NEVER come up with any sensible arguments. So please HONOR YOUR WORD..GET OUT OF HERE!!! Or are you like your "idols" who can't keep their word???

 
At Friday, June 10, 2005 10:25:00 AM, Anonymous Anonymous said...

Final word: Rememeber, argue IN PROMOTION of the cause of the coalition. Debate and present arguments IN PROMOTION of the cause.

Simple lang. Madaling tandaan. Logical. Walang paraang baluktutin.

Observe all the negative posts. Ibasura. Or have fun with them, paglaruan. Anyway, they have no serious business being in this blogsite.

So all PPI/YGC hackers, be forewarned.

 
At Friday, June 10, 2005 11:26:00 AM, Anonymous Anonymous said...

TO; ALL PEP COALITION MEMBERS

The SENATE COMMITTEE ON TRADE AND COMMERCE will start the hearing the case of CAP and PPI on tuesday, June 14, 2005 1pm. Hearing is open to the public.

FYI also, CONGRESSIONAL hearing started June 8, 2005.

 
At Friday, June 10, 2005 12:14:00 PM, Anonymous Anonymous said...

For the Senate hearing, wear black shirt and the coalition pin. DO NOT WEAR THE COALITION SHIRT as you will not be allowed to enter.

 
At Friday, June 10, 2005 1:00:00 PM, Anonymous Anonymous said...

THE COALITION CAN "OPEN ITS RECORDS" TO ANYONE WHO WANTS TO AUDIT ITS FINANCIALS.

Okay, open it. Be transparent. Submit the names of the people and organizations who have contributed to your kitty. And I don't mean the planholders. YOU KNOW WHAT I MEAN. YOU KNOW WHO ARE FUNDING YOU.

 
At Friday, June 10, 2005 1:38:00 PM, Blogger SunTzu said...

Ok so if the Coalition agrees to open its books etc. do we submit it to you? Who are you anyway
Anonymous?

Can we make it a two way exchange, we show you the books, you show us who you are, how much your paid, where you work, your history. Fair is fair . . . .

 
At Friday, June 10, 2005 3:21:00 PM, Anonymous Anonymous said...

Suntzu said...

Ok so if the Coalition agrees to open its books etc. do we submit it to you? Who are you anyway
Anonymous?

Can we make it a two way exchange, we show you the books, you show us who you are, how much your paid, where you work, your history. Fair is fair . . . .
############

Suntzu, mga muchacho lang sa PPI yang mga nangaasar. Wag pagtuunan ng panahon!!! Bayaan natin sila, kasi ikinabubuhay nila ang panggugulo sa ating coalition.

Yung iba nga diyan. mga officer level sa rcbc. Ang mga pakay niyang mga matataas na posisyon, e paniwalain tayong walang wala talagang pera at babatuhan tayo ng mga counter offers. Tingnan mo, tagong tago ang mga trust docs. Maraming katarantaduhan na ginawa e. No tansparency, pwes NO TO COUNTER OFFERS!!!!

 
At Friday, June 10, 2005 5:34:00 PM, Anonymous Anonymous said...

the pep coalition is here for all affected planholders, whether they agree with us or not! Having stopped ppi's schedule of victories is already an achievement.

for those who preferred the rehab. Pls. advise ppi that you are in favor of the rehab, that you wanted to help ppi; and even w/o the approval of the court, you are willing to go on with the rehab, so that all those who wanted regular availments can be served as promised.

In the end, everybody will be happy! Those in favor, because that's what they wanted; ppi, because they can now fulfill their promise; and pep-coalition, because their broken dreams will finally be mended!

OK, HA, PRO-REHAB!

 
At Friday, June 10, 2005 8:42:00 PM, Anonymous amanda said...

Whatever the Yunchengco lackeys say, Philip is doing an excellent job for the Coalition. We couldn't have found a better champion.

His briefing on the issue before the Oversight Committee was an eye-opener for everyone including Lifetime agents who were present.

The demolition job against Philip is so obvious it is really pathetic.

 
At Saturday, June 11, 2005 9:58:00 AM, Anonymous Anonymous said...

"His briefing on the issue before the Oversight Committee was an eye-opener for everyone including Lifetime agents who were present"

EYE-OPENER? MAKES ME LAUGH! MALI MALI NGA EH!

 
At Saturday, June 11, 2005 4:48:00 PM, Anonymous Anonymous said...

From an insider, ygc hackers are being paid on a per comment basis in our blogsite. The fee is even doubled if they are successful in getting a response from a coalition member. This is precisely why they abandoned their blogsite completely and have increasingly been posting idiotic comments here. Please be forewarned since the more we respond the more they make money.

 
At Saturday, June 11, 2005 8:44:00 PM, Anonymous Anonymous said...

"EYE-OPENER? MAKES ME LAUGH! MALI MALI NGA EH!"

Talaga? Paki sabi nga kung anu-ano ang mga pagkakamali niya? Sige nga, give us a complete rundown ng ano ang mga tama. Kung wala kang masabi tungkol diyan, sino ngayon ang mali?

 
At Sunday, June 12, 2005 11:34:00 AM, Anonymous Anonymous said...

WHAT MADE THE TRADITIONAL EDUCATION PLAN SELL AT THAT TIME?
1.
AT WHATEVER COST AT THE TIME OF NEED.
2.
A HEDGE AGAINST INFLATION.
3.
ANTI-INFLATIONARY EDUCATION PLAN.

Parepareho lang ang ibig sabihin ng tatlong yan. This is the strength of the Traditional Education Plan when it was being sold to the public. Whether the original plan holders or secondary market. Kung may loophole man yang commitment na yan, ang sagot nila nuon was
4. OWNED BY YUCHENGCO

And these are the same reasoning that Helen Yuchengco Dee and her advisers are using against the plan. Tuition deregulation, increase in tuition expenses and no instrument to match the tuition increase.

All the pro-YGC bloggers posting here are employees& agents who probably got in PPI way after PPI has stopped selling this plans. This is why they do not have a full grasp of the product's commitment and their only concern is to keep receiving their paychecks.

But the employees like Roy Padiernos and associates like Gena Padilla( Agency manager ba siya ngayon or Group Manager?) who were there at the time this plan was being sold know fully well that PPI is dishonoring the contract and yet they support the attempt of Liwayway Gener and Helen Yuchengco Dee and that lawyer they have Tecson?( mga wala pa yan sa companya nuon.)

Uulitin ko lang uli why we bought this plan package and endorsed it to the public:
1.
AT WHATEVER COST AT THE TIME OF NEED.
2.
A HEDGE AGAINST INFLATION.
3.
ANTI-INFLATIONARY EDUCATION PLAN.
4.
OWNED BY YUCHENGCO.

OVER PROMISE, UNDER DELIVER.
Buti sana kung kwento kwento lang ito.

Kaso this is a plan. 34,000 contracts that Yuchengco got into.

Yuchengco can't get away with this.

 
At Sunday, June 12, 2005 11:58:00 AM, Anonymous Anonymous said...

Again, all these discussions with this BMW, Kit or whoever, whether legitimate planholder or paid hack, is going off tangent.

There is no reason to discuss theories and probabilities on how PPI/Yuchengco could get investment yields to match tuition fee increases. THAT IS ALL BESIDE THE POINT. EVERYONE IS BEING DRAGGED INTO A POINTLESS DISCUSSION.

THEY RENEGED ON THEIR CONTRACT. PROBLEMA NG PPI/YUCHENGCO TO COME UP WITH THE MONEY TO PAY FOR THEIR OBLIGATIONS. PROBLEMA NILA. PROBLEMA NILA. PROBLEMA NILA. NOT THE PLANHOLDERS. IF THEY USED TO INFUSE FUNDS FROM STOCKHOLDERS' EQUITY, THEN DO THAT AGAIN. AND AGAIN. AND AGAIN. AND AGAIN. UNTIL THEY PAY OFF ALL OBLIGATIONS. ITS AS SIMPLE AS THAT. WHERE THEY GET THEIR EQUITY TO INFUSE? AGAIN, THAT'S THEIR PROBLEM. THEIR PROBLEM. THEIR PROBLEM. PASENSIYA. THIS IS A BUSINESS. YOU WIN SOME, YOU LOSE SOME. BUT YOU STAY HONEST AND FAIR WITH YOUR PLANHOLDERS.

SO TO EVERYONE, PIKACHU, VICENTE, SUNTZU, ETC., DON'T WASTE YOUR PRECIOUS TIME AND BRILLIANT MINDS ON THIS KIT OR WHOEVER.

That's the way the spindoctors are maneuvering focus. Everyone posting gets caught in the pointless and baseless discussion.
Stop wasting time with Kit or whoever. We all know the answers and the truth. They may ramble on about fixed versus traditional, investment yields versus tuition fees, rehab versus non-rehab, etc., etc., etc., and all of that is USELESS.

NO NUMBERS ARE NEEDED HERE. THE BONE OF CONTENTION IS THAT THEY DEFRAUDED THE PLANHOLDERS. EVEN GRANTING, GRANTING, GRANTING THAT PPI/YUCHENGCO (ALONG WITH ITS GLOBAL RESOURCES TO SUMMON INVESTMENT EXPERTS) IS SO WEAK AND INEFFICIENT IN HANDLING PLANHOLDERS' MONEY, IT STILL DOES NOT GIVE THEM A LEGAL BASIS TO RENEGE ON CONTRACTS AND TO MANEUVER A RESTRUCTURING THE WAY THEY DID. DISCUSSING TECHNICAL DETAILS ON TRUST FUND YIELDS AND TUITION FEE INCREASES IS DIGRESSING.

WE CAN DISCUSS THAT IF WE'RE TALKING ABOUT FUTURE LEGISLATION AND PROSPECTIVE PROTECTION FOR PLANHOLDERS. BUT IN THIS CASE INVOLVING PPI/YUCHENGCO? THAT JUST ISN'T A MATTER FOR DISCUSSION HERE.

Time and again, it has been said here, that anyone who argues AGAINST the coalition cause MUST argue IN PROMOTION of the cause. We may argue about strategies and whatnot, but all IN PROMOTION of the cause. Anyone who argues to DETRACT from the cause CANNOT be legitimately accepted as being an honest-to-goodness person fighting for what is true and right.

See, that's the beauty of LOGIC and REASONING. There's just no way to twist it. That is how it is so darn easy to spot legitimate planholders who may be uneducated with the facts from dissenters who are out to fight the coalition.

SO TO EVERYONE, STAY FOCUSED AND FORGET THOSE WHO ARE A WASTE OF TIME.

 
At Sunday, June 12, 2005 2:47:00 PM, Anonymous Anonymous said...

If I were a fixed plan holder, I would really be worried by this time. To begin with, the fixed plan was moved to Lifetime, then Lifetime was sold to GPL Holdings, then it was sold to Exemplar. Now it is with Memnon, whatever that is. Next time around it might be found in the junkyard at Binondo. Talking of security!

 
At Sunday, June 12, 2005 11:03:00 PM, Anonymous Anonymous said...

To the person who wrote...

"EYE-OPENER? MAKES ME LAUGH! MALI MALI NGA EH!"

Possible na may mga mali nga. Bakit kaya? Kasi ayaw ipakita ng mga Yuchengco ang mga libro nila. Siguradong kita lahat ng kalokohan na ginawa nila gaya ng pagpapalipat-lipat ng mga kompanya, PPI at LPI. Pero alam mo bang nakikita rin namin yung sinasabi mong mali. Mabait talaga ang Diyos dahil Siya ang nagbibigay ng mga paraan para mahuli at malaman ng coalition ang mga importanteng impormasyon sa kalokohan nila.

Ikaw ba hindi natatakot na ma-KARMA sa pagsuporta sa panloloko at kasamaan ng mga Yuchengco.

 
At Sunday, June 12, 2005 11:24:00 PM, Anonymous Anonymous said...

To the person who wrote...

"Okay, open it. Be transparent. Submit the names of the people and organizations who have contributed to your kitty. And I don't mean the planholders. YOU KNOW WHAT I MEAN. YOU KNOW WHO ARE FUNDING YOU."

How can the coalition be able to show you its records when we don't know who you are. I know the person handling the coalition's books so just let us know when you want to see them and a meeting can be scheduled. But anyway, if you are really sure and definite that there are people giving the coalition big sums of contribution, we challenge you to name these individuals and groups. Don't keep us in suspense. Just make sure that these so-called contributors are not planholders themselves (for the individuals). Or are you afraid to be called a LIAR? Or are you related to the BOY WHO CRIED WOLF?

 
At Monday, June 13, 2005 7:19:00 AM, Anonymous Anonymous said...

pro-YGC, paid PPI/Yuchengco hackers are posting very low-level, nonsensical issues that have long been resolved, i.e., tuition fee increases versus trust fund investment yields, traditional versus fixed value, number or size of coalition, fixed value subsidizing traditional, etc., etc., as well as pure insults and personal degradation.

just look at the low level to which discussions have dropped to. gone are intelligent inputs from tls, marc, etc.

these inadequate, inappropriate, inconsequential useless comments from all forms of YGC paid hackers such as bmw, kit, etc. will of course continue. but notice that more and more of the comments will be anonymous because they finally understood the logic that anyone who argues against the coalition is simply an illegitimate poster in this site, out not to help but to simply irritate legitimate coalition members having rational, logical, high-level discussions. it's been proven that you argue but in support of the cause of the coalition. you can argue points and strategies but with the intention of moving the cause forward by offering positive inputs and alternative strategies to make progress. all other comments and posts designed to prevent progress and question the cause are simply a waste of time. notice also that after intelligent, high-level posts such as this, the paid hacks will post something really low, lacking logic and reasoning, full of nonsense and aimed at emotions. its a typical psyche response in order to get a legitimate coalition member to answer back based on emotions. that way, the paid hacks get to resume their low level, unintelligent, inconsequential posts.

hope everyone thinks about their posts more. its better to have a blogsite with few but all intelligent comments rather than one with 100+ comments that are just pure garbage.

 
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At Saturday, April 29, 2006 12:07:00 AM, Anonymous arrinne said...

arianne
I thought my daughter future was in good hands...shame because we're trying to save for our children and yet there some people who stole our childrens future...Thief...how can these people can sleep at night????????

 

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