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The Lopezes evading the war against their consumers

The Lopez-owned Meralco has been on the news lately for its self-declared battle against the government. The Lopezes claim political persecution and pressure from the administration and from the entire government. But do the Lopezes really care about the real issue? Do they even know what the real issue is? What is demanded from Meralco is for it to lower its rates! The Lopezes are so arrogant, they think they can manipulate the consumers and the government making all excuses possible to escape from the anger of the consumers. The Lopezes also pointed fingers to the ERC. At any rate, the ERC and the Lopezes are to blame for the high cost the power firm collects. Napocor lowered its rates in April but Meralco increased in May. Tsk tsk.
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  • Fight for control roils Meralco meeting

    Garcia questions validity of proxy votes
    By Patty Adversario, Ma. Salve Duplito
    Reuters, INQUIRER.net
    First Posted 11:19:00 05/27/2008


    MANILA, Philippines -- A battle for control of the Philippines' largest power utility deepened on Tuesday when the state pension fund tried to stop the re-election of Manila Electric Co's (Meralco) board.

    The Securities and Exchange Commission said it would not allow the count of the proxy votes on behalf of the Lopezes in the election of a new Meralco board, based on a complaint filed by GSIS president and general manager Winston Garcia.

    "They have a valid complaint lodged with the SEC challenging the proxies solicited by certain members," Hubert Guevara, a director of compliance and enforcement at the SEC, told reporters.

    Meralco's board of directors said, however, that they considered the SEC order null and void and would continue with the elections.

    Garcia had filed a petition for a cease and desist order before the SEC challenging the validity of the Lopez proxy votes which accounts for almost half of the Lopez block.

    Guevara said this soon after the Meralco shareholders meeting started at 9:30 am.

    Guevara, however, stressed that "we are not here to stop the election."

    The SEC will hold a hearing on Garcia's complaint on Friday. Meralco is also given till Friday to rebut Garcia's claim.

    GSIS, which owns around 25 percent of Meralco, hopes to retain at least four seats in the 11-member board. The Lopezes have five seats in the board, which also has two independent directors.

    "This is the last recourse to stop the election," said Oscar Lopez, chairman of First Philippine Holdings Corp.

    Meralco is controlled by the Lopez family, which also owns two power generation plants and geothermal firm PNOC EDC, as well as the country's biggest media firm, ABS-CBN Broadcasting Corp. The Lopez family owns about one-third of Meralco.

    Critics say Meralco buys power at high rates from Lopez-owned generating firms and does not do enough to prevent illegal tapping of electricity, the cost of which is passed on to consumers.

    The Lopezes are really defiant and arrogant. This violation of the SEC order is blatant disrespect to government authorities. I think this is too much for the Lopezes because they have no more respect for authorities and they think highly of themselves as if they are untouchables.

    There really is a need to change the management of Meralco if this is the case. Otherwise, Lopez will collect more from the people to vent out their anger at the government.
  • I dont like very much this Garcia guy...but I AM LOVING EVERY MOVE HE MAKES TO STIR UP THE LOPEZ EMPIRE HAHAHAHAHAHA
  • Dami mga empleyado ng Meralco ang sumuporta sa mga Lopez ah may bonus kaya sila? or discount sa Meralco! Inuuto na sila panay himod pa rin sa boss nila akala nila nakinabang sila yun pala ilang dekada na sila nililinglang sa singilan ng Meralco! :rotflmao:
  • fennfenn PExer
    The Lopezes have displayed their usual arrogance. Imagine defying the SEC.

    Tingin talaga nila above everyone else sila. Parang ABS-CBN.

    Why did they disrespect the GSIS? The GSIS is a large shareholder.
  • geo02107 wrote: »
    Dami mga empleyado ng Meralco ang sumuporta sa mga Lopez ah may bonus kaya sila? or discount sa Meralco! Inuuto na sila panay himod pa rin sa boss nila akala nila nakinabang sila yun pala ilang dekada na sila nililinglang sa singilan ng Meralco! :rotflmao:
    If it's meralco paying (which is actually passed on to consumers) for your electricity bills including airconditioners, other cappriccio and juicy perks, then there is no reason why its employees are solidly behind the the incumbent meralco leadership.

    Never mind if its the poor consumers of payatas and tondo paying for these meralco employees bills.....
  • it's because they have Sam Milby and Sam Milby is an alien
  • El_Kapitan wrote: »
    it's because they have Sam Milby and Sam Milby is an alien

    eh ano si celine lopez the cocaine ***** bwehehehehehehe
  • I doubt if the Lopezes will really answer the clamor of the people to lower down electricity rates. It seems they are taking their very own media outfit to bring down the government even if the move of the government is not really for political reasons but to help the people with their burden on high electricity rates the Lopezes are giving them.

    I really hope the end of all of these is that the people will have lower electricity rates. But how could that be possible if the people believe the press releases of the Lopezes?
  • kel1guykel1guy PEx Influencer ⭐⭐⭐
    The next trick out of the bag from the GMA side will probably be a revocation of the MERALCO Business Lic. Then what? We get free power or Manila goes dark? This really could get out right stupid and we consumers are going to be the ones that end up in the trick bag.
  • kel1guy wrote: »
    The next trick out of the bag from the GMA side will probably be a revocation of the MERALCO Business Lic. Then what? We get free power or Manila goes dark? This really could get out right stupid and we consumers are going to be the ones that end up in the trick bag.

    is it a trick?
    i dont think this is a trick, however i am also sure there is something hidden in it...BUT IF THIS WILL FINALLY FORCE THE LOPEZES/MERALCO TO BRING DOWN THE DAMMNN POWER RATE.....ITULOY ITULOY NA SANA NG GOBYERNO!!!!!!!!!

    GARCIA BOMBAHIN MO PA ANG MGA LOPEZES...
  • One thing I can say, is that if there's anybody out there who has the balls & personality to take on an arrogant, monopolistic & unscrupulous bunch that are the Lopezes, its no other than Winston Garcia.

    'Match na match sila. Nakatagpo rin ng katapat ang mga Lopezes na iyan.'
  • rhk111 wrote: »
    One thing I can say, is that if there's anybody out there who has the balls & personality to take on an arrogant, monopolistic & unscrupulous bunch that are the Lopezes, its no other than Winston Garcia.

    'Match na match sila. Nakatagpo rin ng katapat ang mga Lopezes na iyan.'

    tumpak ka jan...at kaya matapang si winston garcia ay dahil alam nya kung ano man ang mangyari at matalo sya...pwdeng pwde syang bumalik sa cebu at di nya kelangan humalik sa mga pwet ng mga lopezes...
  • metropolitanmetropolitan PEx Influencer ⭐⭐⭐
    why is it hard to convince people that Meralco is not the only villain as to why we have the highest electricity rates in the world?

    why is there no one out there reviewing all the IPP contracts and power projects enacted during the Aquino, Ramos, Estrada and Arroyo administrations?
  • effeff PExer
    I don't want the Government especially Winston Garcia to take over Meralco. Winston Garcia has plunder case...

    Also, where will the government get the money to buy Meralco. I surely that its not from my money (tax).

    I personally believe that Winston Garcia wants to take over Meralco for his own personal benefit. I believe that it is not for the country but for himself.

    I repeat... Ok na ko sa Lopez wag lang sa mas kurakot...

    please read the article below.


    Winston Garcia and the Plunder of GSIS

    A welfare agency is supposed to look after its members so its funds must be managed well and spent prudently. However, as alleged by critics, it takes only one abusive, highly paid official to profit from the moneys contributed by underpaid employees, much to the consternation of the supposed beneficiaries.

    BY DABET CASTA?EDA
    Bulatlat

    This government corporation was established for a good cause but it has now become a symbol of corruption.

    The Government Service Insurance System (GSIS) was created by Commonwealth Act No. 186 on November 14, 1936, a year after the inauguration of the Philippine Commonwealth. It was mandated to provide and administer compulsory and optional life insurance, retirement benefits, disability benefits for work-related contingencies and death benefits.

    Today, about 1.5 million government employees from various agencies, local government units and government-owned and controlled corporations (GOCCs) are members of the GSIS.

    The GSIS? workforce currently consists of 3,104 employees, 52 percent of whom are in the head office at the Cultural Center of the Philippines (CCP) complex in Pasay City. The remaining 48 percent are in the 48 branches and 78 satellite offices nationwide. They are unionized under the Kapisanan ng mga Manggagawa sa GSIS (KMG or workers union) which has about 800 members in the head office alone.

    Lost mandate?

    Lawyer Jose Cortes, a former director of the Bureau of Legal Assistance of the Department of Agrarian Reform, told Bulatlat over the weekend that today, the GSIS has almost lost its mandate. ?Nakalimutan na ang element of service? (They have already forgotten the element of service.).

    Cortes retired in 2000 when he reached the retirement age of 65. He enjoyed medical assistance benefit during the first three years of his retirement. However, since mid-2003, he has not received a single cent of his medical assistance benefit.

    He said he has traveled back and forth from his home in Malabon to the GSIS head office in Pasay City to inquire about his reimbursements. ?The last time I asked, I was told that there is no fund to pay for my medical needs,? Cortes said.

    Lost billions

    KMG President Albert Velasco, who is also a lawyer, said in a separate interview with Bulatlat, that the GSIS acquires billions every month from the employees? mandatory contributions. These contributions, called premiums, should go directly to the trust fund, he explained.

    Citing the annual report of the GSIS for 2003, premium payments totaled P40 billion ($710.48 million, based on an exchange rate of P56.30 per US dollar) reported under the social insurance fund.

    Velasco alleged that the money is being used by GSIS President and General Manager Winston Garcia for his ?personal quirks.?

    Documents acquired by the KMG show that Garcia made the following extravagant investments: a P1-billion ($17.76-million) loan to the Public Estates Authority; purchase of a P611.8-million ($10.87-million) property in London to pay for the Philippine Embassy office there; and the purchase of various paintings, among them Juan Luna?s Parisian Life which cost the GSIS P45.4 million ($806,394.32).

    In his first 10 months in office, Garcia had cash advances amounting to P5.25 million ($93,250.44).

    From September 2003 to July 2004, records showed that Garcia had P6,883,006.63 ($122,255.89) in miscellaneous disbursements.

    He approved a P700-million ($12.43 million) computerization project even if, according to the KMG, the same computer functions and programs can be obtained for P40 million ($710,479.57) through the GSIS branches.

    Garcia also spends P300,000 ($5,328.60) a month for advertisements while spending another P200,000 ($3,552.40) a month for personal legal assistance.

    It is this alleged grave misuse of the government employees? pension fund that has kept Garcia under fire and it comes as no surprise that there is now a groundswell of support for his ouster.

    Garcia has denied all charges and challenged his critics to face him in court. His superior, President Macapagal-Arroyo, has asked the embattled GSIS president to explain and she made assurances that everything will be transparent.

    Bulatlat.com
  • effeff PExer
    REVISED

    I don't want the Government especially Winston Garcia to take over Meralco. Winston Garcia has plunder case...

    Also, where will the government get the money to buy Meralco. I hope that it is not from my money (tax).

    I personally believe that Winston Garcia wants to take over Meralco for his own personal benefit. I believe that it is not for the country but for himself.

    I repeat... Ok na ko sa Lopez wag lang sa mas kurakot...
  • effeff PExer
    Also sa tingin ko pakana nanaman ito ng malacanang para mawala sa isyu yung ZET... lagi nalang ganito... if they want to erase an issue they will create another issue.

    I do not believe that the government can give us lower power rate... or if they can, I believe that they will increase the tax that we are paying to them.

    And I also agree with what metropolitan said above. why dont we review all the IPP contracts and power projects enacted during the Aquino, Ramos, Estrada and Arroyo administrations.
  • ka_entengka_enteng PEx Veteran ⭐⭐
    mukang nagsisimula ng magpost ang mga taga-ebs :lol:
  • pianpian PExer
    I don't want the government to take over Meralco. The government has a history of mismanagement. After all, it has regulatory bodies like the ERC (o yan abc, tama na) that will monitor prices.
  • BusilakBusilak PEx Influencer ⭐⭐⭐
    I don't want government to take Meralco. I want government (even if it's winston Garcia) to take on Meralco.
  • d_red_tab wrote: »
    eh ano si celine lopez the cocaine ***** bwehehehehehehe

    *puts on emo make-up*
    LEAVE CELINE LOPEZ ALONE!!!


    :rotflmao:
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