The Meralco Takeover
Written on Thursday, May 8th, 2008 at 6:20 pm | by Patricio MangubatThe palace is tricking us through word play. Executive secretary Eduardo Ermita denies that the palace plans to get Meralco. Energy secretary Reyes meanwhile confirms that Malacañan has the numbers and it’ll not matter if government takes over the distribution firm or not. While Garcia is running around town, acting as palace political operator, marshalling the numbers for the actual takeover.
Garcia says its not the board they’re after–its management, dummy. Winston, we’re not kids and that stupid, okey? A management filled with government appointees is worst than the Lopezes. Replacing management is a de facto takeover.
Whatever the palace says, one thing is perfectly clear–these palace men are not creating noise out of nothing. They all say the same thing though–they’ll be doing this to force a lowering of electricity rates. All of them though, including Gloria, knows that a takeover will not immediately result to a lowering of electricity costs. Why? Because Meralco will lose considerable profitability.
Besides, government is the worst administrator of all time. Look at how government diluted the profitabilities of government-controlled corporations? Can you site just one company which the government took over after EDSA that remained profitable? All of them, RPN9 and IBC 13 to cite some examples, were made as milking cows by government appointees. What will happen to Meralco should government take over?
Some of us would probably agree on one thing though–Meralco is really ripe for the picking. I mean, the Lopezes has been a pariah since day one. However, I shudder at the thought of Gloria’s appointees taking over Meralco. We all know their agenda. We all know what they want. And we all know that they’ll just use Meralco’s billions to fund their cha-cha and 2010 campaigns.
Tags: eduardo ermita, Meralco- Proxy Wars, Text and Power Plays
- Arroyo, Aboitiz, and Garcia’s Power Play
- Paying for Melted Ice
- Meralco Meeting Televised? The Hypocrisy of The Arroyo Administration
- Systems Loss
- Are We Really A Pathethic And Apathetic People?
- The SEC CDO Decision
- Emergency People’s Action Against Creeping GMA Dictatorship
- The Meralco Fiasco
- Gloria Labandera’s Mopping Up Operations
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13 Responses to “The Meralco Takeover”
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Tanong ng tanong pa kaci ito si zen2 ng electricity dito kung mas mahal sa lupang tinitirahan niya, eh tuloy nasabi ko na walang problema dahil may jumper ako. Si Tongue, he spelled out my crime to be the system loss na dagdag bayad ng mga matitino. Yan, dahil sa system loss, may dahilan masisi ang Meralco at tuloy kukunin na ng mga sugapa. Sorry folks. Siya, aalisin ko na ang jumper. Pero wala naman mahuhuli dahil tiga Meralco din ang karamihan nagkakabit.
Systems lost, well, probably that’s about 9% of your total electricity consumption. But, do we know what’s really the amount of electricity lost during production to distribution? No. Why? Because of the lack of transparency of Meralco.
Government is saying that Meralco should be more transparent so that the public knows the things they pay for.
Again, is the solution a government takeover? Many times no! I would be singing a new tune if its a new government, one that the people trust.
But, this is GLORIA’s regime, the kind of monster that the people hates so much.
How archaic can this be? Just look at the farce it has created with National Power Corporation and Transco?
Government take over of a corporation? Government has no business in private enterprise. If Jolibee is charging too much for Fast Food, would Government wage a take over attempt?
This is farce, this is SO archaic. i’m sure there are other reasons why this is being teased at and those reasons have nothing to do with lowering electricity costs.
my point being, government has no business in private enterprise. ever. privatize napocor, transco and introduce competition into the area where meralco exist and get business in line. government take cover smacks of communist practice that went out in the 20th century.
Meralco doesn’t make a lot of money as compared to other non-utility companies of comparative size. In fact, they are allowed a max. of 12% profit by law. The REAL MONEY is being made by the IPPs. Grabe, hand over fist, I kid you not.
[…] basis of existing share structures or of being subject to government regulation). the blogger and Patricio Mangubat in FilipinoVoices.com, though, share a skeptical attitude concerning the supposed benefits of a change in corporate […]
Mga Lopez lang ang nagtatamasa nito, tama lang gawin ito ng gobyerno’ng kalampagin ang Meralco para sa makatarungang singil ng kuyente.
Mandaragat is correct. Meralco should be shaken and stirred, like a martini. That way, they’ll be aware of the things they’re doing to us, hapless victims of a fucked up system.
However, a takeover will not necessarily lead to a lowered electricity rate. I am all for it, IF government has a good track record in management. Sadly, government does fuck up most of the time.
Pochero,
The irony being, Meralco also IS one of those IPPs.
While I have no love for Meralco, neither do I agree that the government should meddle in power as well. The Napocor, as cocoy put it, is far too much of a farce to ever trust the government to take control of power generation and transmission ever again.
In the corporate world, transparency has it limits. You don’t give out all the kinky details, especially not to a competitor. I posted this link in my blog, check out the last sentence.
According to Manuel Buencamino (Uniffors) Meralco stocks had slipped 22% due to Garcia’s tantrums resulting in a paper loss of P4.5B to GSIS on account of its holdings in Meralco. He’s done more damage to the ordinary people so far than to any of the Lopezes.
Cocoy is absolutely right, privatization is the key, not the reverse, as Garcia is now preaching. Moreso with the Mafia getting all the juicy deals from the newly-privatized assets. PSALM’s record is here : (http://bp2.blogger.com/_PaZY2VSIf-A/SCa3ANqSDTI/AAAAAAAAAMo/S8f8EfuXD-s/s1600-h/psalmlist.jpg)
Finally, if it’s right “na kalampagin ang Meralco”, why not include the “other” distributor - Aboitiz?
*****
Sorry, Valdemar, I had to name you in my example. I edited it out in my own blog.
I know somewhere I posted something like this, sa ginapala na mga pera pinapoamudmud lagi parang popcorn sa paper bags, at mga pera na di pa nautang ng mga GSIS bigwigs, ibayad muna sa Meralco. Then share it to the Meralco pure blooded Filipino users prorata thru equities included in the billings.
Tongue,
Anjan pa si Mr. Flores sa Veco? Regards.
makapapal talaga ang mukha ng mga lopezes. pati ang ginagamin nilang kuryente ay taong bayan ang nagbabayad. imagine P533 million pesos ang halaga na binayaran ng mga pilipino nuong 2007 sa libreng paggamit nila ng kuryente. ipinapasa nila ito bilang system loss. ang sakit sa bulsa diba?. Sabi nila pinapayagan naman ito sa batas, pero pati ba naman kuryenteng gamit ng ABS-CBN ay ipinapasa sa atin? nasaan ang moral na basehan nila dito para ipataw nila ito at sapilitan nating bayaran? kaya masakit mang masabi, MERALCO ang pinakamaking magnanakaw at holdaper ng taong bayan.
The government being a big shareholder of MERALCO should really have a say on how the MERALCO management is handling the operations of their business. Not only do they own a big share but it is also the govt’s responsibility to take care of the Filipino consumers whose electric bills keep on going up whenever MERALCO wants to.
Everyone in the business sector who are now suppliers or previous suppliers of MERALCO would always say that there is a “MAFIA” in the purchasing department and the purchasing committee of MERALCO, most especially on the choice of CONTRACTORS and SUBCONTRACTORS for their substations and other major supplies. Why don’t you look deeper and investigate/audit into the documents of Purchasing Dept. and see who always win the bids, and did it not made a big fiasco too when even those foreign contractors conducted their own investigation against their managers and employees because they connive in this corruption between MERALCO and their local company here? Look at who these General Contractors are and the subcontractor who always win the bid other than MIESCOR. There are only two contractors that builds the houses of the executives for free and prices of course are already included in the cost of the projects that they bid. Also included in the package are their trips abroad, etc, etc.
Previous employees of MERALCO say that MERALCO was at its best during the times of the old LOPEZ. He was humble, good to his employees and is always fair.
After Chito Francisco took over with Manolo Lopez, everything changed. They focused on enriching themselves by getting kickbacks from chosen suppliers.
Again, to be sure that this is true, investigate on their awarded contracts from 1996 to present. You will see how biddings are done and contracts are awarded to chosen few by the MAFIA passing sometimes to their sister company MIESCOR.
Marami na rin kayong sinaktan sa mga dati ninyong contractors.
Maybe this is your “karma”. Puro kay July nyo lang binibigay lahat ng project nyo dahil magkakasosyo kayong lahat diyan. Bakit kasosyo din ba ang gobyerno sa sosyo nyo ni July? Kung hindi dapat parehas ang bidding, di ba?
Matatakaw kasi kayo, mabuti nga sa inyo. Panahon na siguro that you be given a dose of your own medicine.
Chito, you better step down and give that reign to better and deserving people so that we can have better rates on our electric bills.
Actually, these executives dont care anymore. Marami na silang naipon that even if the entire Philippine’s economy fall, mayayaman pa rin sila up to their kaapu-apuhan.
Good for you! Kunwari pa kayo eh, pag kinuha yan ng gobyerno, ang saya nyo kasi lahat ng inutang nyo at pinagkakitaan nyo na, ngayon, iba na ang magbabayad.
Kunin nyo munang lahat ng ninakaw ng mga officers ng MERALCO para di gaano mahirapan tayo sa pagbabayad ng mga inutang nila.
Lahat tayo ay mga tsismosa at tsismoso, we all don’t really have proof on whats really going on, but if all this are true,then we need to get all the proof, hindi tayo basta nakikinig sa sabi ng iba, all i presume ay puro magnanakaw ang both side, will these is my opinion but i really condem no one nor mentioned names, we pinoys thinks the same, like if we saw something,we tell to someboby and that somebody well tell another person but this time he added something about it then from another, they too will add more to the story. I’m a electrical contractor here in US, from my point of view, I think our electrical distribution system was not as safe and accurate for there designs, I seen some consumers Transformers that are not distribute properly as per consumers demand, the safe distance and hieghts are really unsafe. you might have seen some unsafe and unproper Meters and line drops in media videos in TV, you’ll be the judge on it or perhaps if you got a chance next time you visit our PHILIPPINES, please look at it because from this point, we sure know someones pocketing money from cutting the right and proper material needed. I’m sure you guys know what i’m trying to say. Again we sure can not mentioned name tell we have proof of there crimes and I still believe both sides are trying to manipulate the citizens for redirecting them to one problem to another, or perhaps Our current President Arroyo really trying to divert our attention to the lopez because ABS-CBN don’t give a damn about brodcasting any wrongdoings from the goverment top official to the staff, we all know that wowowee does help a lot of people from the help of sponsors, will think about this, globe is one of loyal supporter of wowowee, now if globe losses money, they well forced to porfit there donation support to wowowee, I said these because the goverment are now asking globe and other cell provides to give free txt messaging, we all know that these provider does lease sattelite from other nation. by the way I think ERMITA resembles OBAMA BEN LADEN, he looks like a good person but he has a definitely unpredicted mentally insane.