GSIS' Meralco stake on SMC, not Aboitiz

Call it an uncanny coincidence, but just a few minutes watching a documentary of the San Francisco earthquake in National Geographic we got jolted by what I reckon was a three or even a four in the Richter Scale earthquake at around 1:15pm. It was strong enough for the blinds in my room to shake but thankfully it lasted for less than 15 seconds. Are we ready for a big one? I doubt that anyone with authority can answer this query with a yes because in truth we’re not prepared at all!

Sure we have our National Disaster Preparedness Council, but are we really prepared? I went to Japan 15 years ago and got a special invitation to look into Tokyo’s disaster preparedness from the standpoint of one fire station. I was amazed at their very high level of their preparedness. They had plans for simple fires, big conflagrations, typhoons and for huge earthquakes. If we were only half as ready, we’d be okay. But I doubt if we’re even half as ready as the Japanese.

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Kudos to Gov. Gwen F. Garcia for giving close to 600 occupants of lot under ordinance 93-1 the deed of sale of this controversial property. That front page photo spoke a thousand words - an old woman accepting her deed of sale for a property that she had lived all her life and finally in her old age, she can truly call the land her own. Incidentally only 589 lot owners out of the 4,000 were given their deeds as they were the ones who met the deadline set and paid the property in full. Now they can shout to the world that they are no longer squatters in the land that they have been living in.

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The Court of Appeals issued a preliminary injunction against the takeover by the Government Service Insurance System (GSIS) of the compulsory third-party liability (CTPL) insurance business all over the country citing that the GSIS takeover would mean the displacement of private insurance agents represented by the Bukluran ng Manggagawa sa Industriya ng Seguro, Alliance of Non-Life Insurance Workers and the Movement for the Upliftment of Non-Life Insurance. This kind of injunction has no time limit; it will only be lifted until the court makes a final decision on this case.

I don’t believe that government should compete with the private sector, but in this particular case, we’ve heard of more fly-by-night businesses than legitimate ones, which in effect has destroyed the reputation of the insurance industry. But somehow, the Court of Appeals took the side of the insurance industry workers, who until now haven’t given anyone a list of the honest and reliable insurance companies. The presence of GSIS would have forced these private insurance groups to shape up against the malpractices of their members. But then, thanks to the CA, this means we’ll probably wait until forever comes before this can be lifted.

Still on the GSIS, we read that they have decided to sell its 27% stake at the Manila Electric Company (Meralco) to the giant San Miguel Corporation (SMC) thus ending speculation that tagged the Aboitiz Corporation as the group interested in buying Meralco. So now it can be told, that all the while it was SMC that was eyeing Meralco, not Aboitiz as always rumored.

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There is no doubt that the Philippine National Police (PNP) under Director General Jesus Verzosa obviously has its back against the wall. It has finally given in and agreed to file criminal and administrative charges against the so-called “Euro Generals” who attended the 77th Interpol General Assembly in Russia where PNP Director and comptroller Eliseo de la Paz and three other officials were caught at the Moscow airport with some P6.9 million in cash. Well, at least this is one incident of graft and corruption that we can see in the courts very soon.

However, Sen. Miriam Defensor Santiago insisted upon Senate President Manny Villar to issue an arrest warrant for the three PNP officers. A Senate investigation on this has become moot and academic as it will now be the job of the court to ascertain the guilt or innocence of all the parties concerned. The problem with the Senate is that, with less than two years to go for the 2010 Presidential elections, those seeking the Office of the President want to have the free publicity through the media circus that would ensue during a Senate investigation. With Jocelyn “Joc-Joc” Bolante expected to be in the custody of the Senate by tomorrow, I would like to believe that they will have their hands full on this issue alone.