Smashing Filipino Idolatry

I hate to say it but we live in a world dominated by semi-gods. Yes, we see them everywhere–at home, in the streets and in the halls of governance. Everyone thinks they’re gods. 

See how traffic enforcers conduct themselves in public. Watch how security guards hold their guns. Notice how cops conduct themselves before their neighbors. They all think they’re all high and mighty.

In Congress, try to watch how they conduct themselves before their constituents. How about these senators? I’m sure you saw how Enrile and Miriam (sic) Defensor-Santiago conducted themselves before foreign investors? Despite the Philippines being at the lowest rung in the list of notable investment sites, these people had the gall of telling these investors to shut up or ship out. Quite a show of power.

I’m not going into how Malacanang’s illegal occupants tried to show their stuff. We saw that in the Meralco-GSIS saga. We saw that in other things, like the ZTE probe. 

In the socialite circles, look at how these people exercise their “power” over mere mortals. They look at ordinary people with obvious disdain. 

It is time to smash Filipino idolatry and expose the true nature of these people. Read the rebel’slair.wordpress.com and see how we expose them.

 

Arroyo double-talking (again!)

When governments show their ugly teeth before their constituencies, things turn into a destabilizing situation. Government intervention has always been perceived as negative, whether done legally or illegally. That’s why people hate it when government thru its factotums, the GSIS and the SEC, use their powers against perceived strong enemies, like the Lopezes. Yes, it’s true we need to wrest control of Meralco from this oligarch, but doing it like what Garcia wants sends a very different message.

That’s why Arroyo should not misled us into believing that they are not part of this plot to gain control of Meralco. Arroyo, through her mouthpiece, Presidential spokesperson Ermita, is employing double talk again. Ermita says they’re not supporting Garcia but in truth, the palace is behind these moves because it shows that they support the GSIS provided that these moves are done in a legal way.

Garcia promised a 20% reduction in electricity rates if he wins this fight. Crap. As I’ve said in previous entries, yes, Meralco will probably lower its rates that much in the interim. After a few weeks, expect the rates to return to its original price ranges. Why? Because Garcia has a mandate to other shareholders. A firm should earn revenues. Lowering the rates will affect profitability. Another thing is rising oil prices. I bet that Meralco will use this issue to justify high electricity rates.

It’s always business

During the aftermath of the 1986 EDSA incident, the administration of Cory Aquino quickly moved to seize properties illegally acquired by the Marcoses. Illegal monies invested by the Marcoses in legitimate businesses such as San Miguel Corporation (SMC) were scrutinized. Government tried to get their share of the pot by installing their own representatives to the board. Some businesses were similarly put to the legal test through outright acquisition or sequestration while others successfully extricated themselves from government intervention by getting court victories. By and large, victory was on the side of the business community, relegating government to just the crumbs of the Marcos largesse.

Everywhere, in all fights, its government that loses and big businesses win.

In this fight against the Lopezes over Meralco, government claims it could win this largely because of the alleged infraction made by the Lopezes in invalidating the SEC ruling. Winston Garcia said that whether Manolo Lopez likes it or not, GSIS will move to oust him from his seat. Meralco has until Friday (May 30) to explain its side before the SEC. What would SEC do should Meralco refuses to heed the Cease and Desist order (CDO)? Will it use the police powers of the state to enforce government laws? Will it go to court, as what some quarters believe, and manipulate the justice system to favor government?

If this goes to court, the decision could prolong the agony of Meralco stockholders. Uncertainties drive markets down. A long-drawn out battle for Meralco control could affect the performance of the local bourse. Just yesterday, Meralco shares went down to 60 pesos per share from 63 pesos the day previous. Reports say stockholders were dumping their shares, exiting early while the price is still within manageable risk. Stock prices are down 20% since GSIS started its campaign to wrest control of Meralco.

GSIS should be convinced to stay its ground and allow the firm to govern itself. Government interference is always a bane to business interests. If this continues, expect a further diminution in Meralco’s stocks, making it one of the biggest losers in the local bourse.

This is the first time in Philippine history that government is increasing its predatorian tactics to the detriment of eveybody.