• Truth, integrity, nationalism not for greedy politicians

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    Emeterio Sd. Perez

    Emeterio Sd. Perez

    BUSINESSMAN Ricardo Penson has formed a group which he calls ATIN.

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    What an acronym!

    In Tagalog, ATIN means “OURS”, which is encompassing. In it, Penson spells out everything that Filipinos need but have been deprived of by greedy politicians from Day One when they assumed office to Day Last when they leave.

    Perhaps, Penson formed ATIN because he believes in what the acronym stands for. Alliance for Truth, Integrity and Nationalism could even be his group’s slogan. Why not?

    After all, Filipinos—except the yellow tribe—want the truth to be told about President Benigno Simeon Aquino 3rd and his chosen people like Budget Secretary Florencio Abad. Do these two politicians possess the integrity to be able to speak proudly about nationalism?

    It is easy to discern what’s in store for the country in the remaining days of the Aquino administration. Just look thru the heads of Abad and his president and you would see either how good or how bad they intend to lead us until June 30, 2016.

    * * *

    ATIN stands for Alliance for Truth, Integrity and Nationalism. It is what this country’s politicians and businessmen need.

    Nice! Whoever thought of the name should be commended, not for originality, for there may be a number of groups that have already promoted TIN—truth, integrity, nationalism—in the past but have already disappeared. No one knows if their proponents really believe in what TIN is all about. For sure, they should have known that it is not a joke to believe in a cause that espouses truth, integrity and nationalism.

    But here is one that Penson may find to be an ATIN competitor. It is called AMIN, which is exclusive. It could well apply to Aquino 3rd and his chosen few led by Abad who all could qualify for membership.

    AMIN stands for Association of Moneyed Individuals Nationwide, whose motto should be “to each his/her own.”

    Of course, ATIN could also become a countrywide movement. And if Penson would be receptive to suggestion, he could expand ATIN into NATIN, in which the first N should stand for National.

    No need. NATIN would also sound exclusive like AMIN.

    * * *

    As for the invitation for me to join ATIN, I am sorry to turn it down. I believe in the cause but I prefer to remain a neutral observer of the worsening economy that I could not write about because I don’t have the expertise to write about it.

    I prefer where I am now, able to write about the rich and the very rich getting richer and very much richer as major stockholders of big conglomerates that dominate and rule and ruin the country’s economy.

    For a clue: You would find the subjects of the pieces I write in Due Diligencer at www.pse.com.ph. Do your own surfing and you would discover the almost unlimited information available from the disclosures filed by listed companies with the Philippine Exchange.

    Although I am sorry to disappoint Penson, I find a good mission in his ATIN. Good luck in trying your best to RESTORE to us what truly belongs to us.

    * * *

    Globe Telecom Inc., the telecom unit of the Ayala group of companies controlled by the Zobels, is reclassifying 31 million unissued common shares with par value of P5 and 90 million unissued voting preferred shares with par value of P5 into 40 million non-voting preferred shares with par value of P50.

    The shares of stock for reclassification have a total value of P2 billion, which does not change when converted into 40 million non-voting preferred shares.

    Never mind if Globe did not tell the public how it arrived at 40 million non-voting preferred shares, when it could have done this easily. It seems the company has assumed that every investor who trades on listed stocks already know how.

    Globe, though, has omitted information that it should have properly disclosed, such as why the reclassification and how will it use the proceeds from the borrowing thru issuance of non-voting preferred shares.

    The Zobels may also want to tell the small stockholders of Globe who the potential lenders—subscribers—are to the 40 million non-voting preferred shares. Will they pay at par or with a premium over par?

    When it is finally able to raise P2 billion, or maybe more, will Globe spend part of the proceeds in improving its services in Laguna where its landlines are, more often than not, out of order? Our landline, for instance, has been unusable from time to time even if we have never been remiss in paying our monthly bills.

    esdperez@gmail.com

     

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    1 Comment

    1. Good decision!

      Your credibility is unassailable. You belong to the last of a few good men in the country.