I. BANNER STORIES
(UPDATE 5) Lopezes keep Meralco
Garcia of GSIS vows it's not over
By Daxim Lucas, Abigail L. Ho
Reuters, Philippine Daily Inquirer
First Posted 22:16:00 05/27/2008
MANILA, Philippines — Winston Garcia had one card left, played it and lost. At least for now. Manuel Lopez did not blink and won. At least for now.
At the end of a dramatic, daylong corporate battle on Tuesday, Lopez remained in control of the power retailer Manila Electric Co. (Meralco), which he heads as chairman and chief executive.
http://business.inquirer.net/money/topstories/view/20080527-139188/UPDATE-4-Lopezes-keep-Meralco
No management change at Meralco
By Donnabelle Gatdula
Wednesday, May 28, 2008
The bid of Government Service Insurance System (GSIS) president and general manager Winston Garcia to oust the Lopezes from the management of the Manila Electric Co. (Meralco) fizzled out yesterday after the power firm ignored an order from the Securities and Exchange Commission (SEC) to stop the stockholders’ meeting.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527167
3. Manila Times
Meralco board defies SEC
Voting pushes ahead despite 11th-hour restraining order
By Euan Paulo C. Añonuevo, Reporter
The Manila Electric Co. (Meralco) pushed through with the election of its board members despite stiff resistance from the chief of the state pension fund who had moved but failed to stop the proceedings.
http://www.manilatimes.net/national/2008/may/28/yehey/top_stories/20080528top1.html
4. Malaya
Lopez group ‘wins’ but war isn’t over
Garcia denounces ‘defiance’ of SEC order
THE Lopez group appeared yesterday to have succeeded in installing a "friendly" board in Manila Electric Co. but only after a tumultuous stockholders meeting in which management was accused of defying a Securities and Exchange Commission order not to vote questioned proxies.
http://www.malaya.com.ph/may28/news1.htm
No need for new taxes, gov’t assures
P4 B released to cushion effects of high oil prices
No need for new taxes in remaining years in office
By DAVID CAGAHASTIAN
SAN FERNANDO, La Union — President Arroyo yesterday said there is no need for new taxes during her remaining years in office, despite doubts on whether the government can balance the budget this year, and the deficits incurred in subsidizing cheap rice sold by the National Food Authority (NFA).
http://www.mb.com.ph/MAIN20080528125794.html
Lopez-led Meralco board defies SEC
By Riza Recio and Ayen Infante
05/28/2008
The epic battle between the government led by state pension fund Government Service and Insurance System (GSIS) and the Lopezes for control of power giant Manila Electric Co. (Meralco) failed to find a conclusion in the firm’s stockholders meeting yesterday after the Securities and Exchange Commission (SEC) issued a suspension order.
http://www.tribune.net.ph/headlines/20080528hed1.html
7. Abante
LOPEZ ‘DI NATIBAG!
Nina TINA MENDOZA at DINDO MATINING
Napuno ng aksyon ang isinagawang annual stockholders’ meeting ng Manila Electric Company (Meralco) na tinangkang kontrolin ng Securities Exchange Commission (SEC) sa pamamagitan ng pagpapalabas ng order ngunit iginiit ng kumpanya na illegal nga ito kaya’t itinuloy ang pulong at botohan nang walang superbisyon ng ahensya.
http://www.abante.com.ph/issue/may2808/default.htm
RCBC SUSPECTS FALLGUYS LANG!
(Bell Desolo)
Pinangangambahan na maging fallguys lang ang limang suspek na naaresto at kasalukuyang hawak ng Task Force RCBC dahil hindi umano tumutugma ang modus operandi ng mga ito sa grupong may kagagawan ng karumal-dumal na robbery-massacre sa Cabuyao, Laguna.
http://www.abante-tonite.com/issue/may2808/news_headline.htm
‘Sabotahe’ sa Meralco meet
Ni Edwin Balasa
Wednesday, May 28, 2008
“Sabotahe!”
Ito ang sigaw ng kampo ng mga MERALCO shareholders matapos magpalabas ng umano’y illegal na direktiba ang Securities and Exchange Commission (SEC) na pumipigil sa stockholders meeting nito kahapon. Sinasabing ito’y taktika ni GSIS Gen. Manager Winston Garcia upang pigilin ang botohan sa mga opisyal ng MERALCO.
http://www.philstar.com/index.php?Bansa&p=50&type=2&sec=54&aid=2008052731
10. Journal
REFUND
By: Tess Bedico
GMA orders state schools to return tuition increases
AFTER ordering state colleges and universities not to increase tuition, President Macapagal-Arroyo yesterday told the schools to refund the fee hikes they have already collected.
http://www.journal.com.ph/index.php?issue=2008-05-28&sec=1&aid=61161
11. Business World
Meralco’s troubles not over
Stockholders’ meet staged despite SEC order; GSIS to contest results
THE LOPEZ FAMILY yesterday foiled a bid by the head of a state pension fund to take over Manila Electric Co. (Meralco), ignoring a last-minute order from regulators to stop the firm’s annual stockholders’ meeting.
http://bworldonline.com/BW052808/content.php?id=001
12. Business Mirror
Lopezes maintain control over Meralco
Paul Anthony A. Isla
Reporter
AFTER more than 12 hours of waiting by shareholders at the Manila Electric Co.'s (Meralco) annual stockholders' meeting, the Lopezes emerged victorious by managing to maintain control over the country's largest power distributor.
http://www.businessmirror.com.ph/05282008/headlines09.html
II. POLITICAL
9 cops in rubout axed; DoJ chief shoot-to-kill remarks hit
By TJ Burgonio, Alcuin Papa, Niña Catherine Calleja
Philippine Daily Inquirer, Southern Luzon Bureau
First Posted 01:36:00 05/28/2008
MANILA, Philippines—Police on Tuesday relieved nine men over the killing of three civilians in an alleged rubout in Batangas, as the country’s top human rights watchdog blamed Justice Secretary Raul Gonzalez’s “shoot to kill” remarks for their deaths.
Arroyo orders schools to refund tuition hikes
By Christine Avendaño, Jerry E. Esplanada, Jeannette Andrade
Philippine Daily Inquirer
First Posted 01:39:00 05/28/2008
SAN FERNANDO CITY—Realizing that the enrollment period was over, President Gloria Macapagal-Arroyo Tuesday ordered state universities and colleges (SUCs) that charged higher tuition this school year to either refund their students or credit their payment for the next semester.
GSIS plan to lie low, spring surprise fails
By Daxim Lucas
Philippine Daily Inquirer
First Posted 04:03:00 05/28/2008
MANILA, Philippines—For the Government Service Insurance System (GSIS), the plan to wrest control of Manila Electric Co. (Meralco) from the Lopez family would have looked like snatching victory from the jaws of defeat—had it worked seamlessly.
When smallest to biggest owners become electric
By Ronnel Domingo, Abigail L. Ho, Daxim Lucas
Philippine Daily Inquirer
First Posted 04:04:00 05/28/2008
MANILA, Philippines—It seemed so unlike past meetings of the stockholders of the country’s biggest power distributor.
Even the smallest owners of Manila Electric Co. (Meralco), who had not attended such meetings before, came. Members of the police SWAT team, with their guns and their bomb-sniffing dogs, were also around.
Lopezes defy SEC order, say it stops proxies
By Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
First Posted 04:27:00 05/28/2008
MANILA, Philippines—The ace up Winston Garcia’s sleeve to unseat the Lopez family from Manila Electric Co. was the Securities and Exchange Commission (SEC).
Meralco calls gov’t plan on ‘lifeline subsidies’ unfair
By Abigail L. Ho
Philippine Daily Inquirer
First Posted 04:28:00 05/28/2008
MANILA, Philippines—Manila Electric Co. Tuesday described as “unfair” the government’s appeal to the Energy Regulatory Commission (ERC) for Meralco to absorb all “lifeline subsidies”—support given to poor consumers with monthly billings of 100 kilowatt hours or less.
Villar cracks whip on senators in ads
By Cynthia Balana
Philippine Daily Inquirer
First Posted 04:30:00 05/28/2008
MANILA, Philippines—But look who’s talking.
Senate President Manuel Villar Tuesday said the chamber should come up with guidelines to police the growing number of its members doing product endorsements for extra income and free publicity.
Traders ‘in no hurry’ to join gov’t rice tender
NFA says it’s a sign that local supply is stable
Philippine Daily Inquirer
First Posted 05:31:00 05/28/2008
MANILA, Philippines -- Private grains traders on Tuesday shunned the opportunity to import duty-free rice, put off by high international prices and competition from government-subsidized sales at home.
Solons favor scrapping of VAT for lifeline users
Philippine Daily Inquirer
First Posted 05:32:00 05/28/2008
MANILA, Philippines -- The House ways and means committee will likely pass the bill seeking to exempt from paying the value-added tax (VAT) households consuming 100 kilowatt hours a month, called lifeline users.
AFP violating rebel soldiers’ rights -- CHR
By TJ Burgonio
Philippine Daily Inquirer
First Posted 05:33:00 05/28/2008
MANILA, Philippines -- Handcuffing and blindfolding the 28 military officers being held in connection with an attempted power grab in February 2006 violated their rights, the head of the Commission on Human Rights said Tuesday.
Tax exemption bill hurdles Senate
By Aurea Calica
Wednesday, May 28, 2008
The Senate passed on third and final reading yesterday the proposed measure seeking to exempt from income tax government and private employees earning minimum wage after President Arroyo certified it as urgent.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527168
GMA chief guard to head ISAFP
Wednesday, May 28, 2008
SAN FERNANDO, La Union – Presidential Security Group (PSG) chief Brig. Gen. Romeo Prestoza will be the new head of the Intelligence Service of the Armed Forces of the Philippines (ISAFP) next month.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527169
Palace wants hassle-free, safe school opening
By Jun Elias
Wednesday, May 28, 2008
SAN FERNANDO CITY, La Union – President Arroyo ordered various government agencies during a meeting with her Cabinet here yesterday to speed up the repair and construction of schools and the distribution of books to ensure a hassle-free school opening on June 10.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527170
Military turns over suspect in ‘Luisita’
By Jaime Laude
Wednesday, May 28, 2008
An Army soldier accused of killing a labor leader of Hacienda Luisita in Tarlac three years ago has been turned over to the National Bureau of Investigation by the military.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527171
Lozada, witnesses to affirm Senate NBN testimonies
By Edu Punay
Wednesday, May 28, 2008
Rodolfo Lozada Jr. and other key witnesses in the Senate probe on alleged anomalies in the $329-million national broadband network (NBN) deal are set to appear before the Office of the Ombudsman today to affirm their testimonies against First Gentleman Jose Miguel Arroyo.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527174
House likely to endorse bills scrapping VAT
By Jess Diaz
Wednesday, May 28, 2008
The House ways and means committee is inclined to endorse measures that would remove the 12-percent value added tax (VAT) on electricity, at least for marginal households in Metro Manila and the provinces, to bring down the cost of electricity.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527175
Angara bats for separate law criminalizing terrorist financing
By Aurea Calica
Wednesday, May 28, 2008
To ensure that the country would avoid getting placed in the blacklist of the Financial Action Task Force (FATF) again, Sen. Edgardo Angara said there is a need for a separate law that would criminalize terrorist financing to put more teeth in the anti-money laundering drive.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527176
RP doubles donations to Myanmar victims
By Aurea Calica
Wednesday, May 28, 2008
The Philippines has pledged $350,000 in cash and donations for the victims of the cyclone that devastated Myanmar.
At the same time, the Philippine government urged the ruling military junta in Myanmar to open up for additional assistance and aid from other countries.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527178
RP moves to become favorite destination for Europeans
By Mayen Jaymalin
Wednesday, May 28, 2008
The Philippines is hoping to become the favorite destination of European tourists.
When the Philippines hosts the Meier’s Weltreisen Far East Live Seminar (FELS) next year, 220 top performing travel agents are expected to come here for a round of exposure trips and workshops.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527180
Villar backs move for senators to follow rules in endorsing products
By Aurea Calica
Wednesday, May 28, 2008
Senate President Manuel Villar Jr. said yesterday he would support calls for senators to follow certain rules in endorsing products to avoid controversy.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527181
Defense chief tells MILF to discipline ranks
By James Mananghaya
Wednesday, May 28, 2008
Defense secretary Gilberto Teodoro has called on the Moro Islamic Liberation Front (MILF) to discipline its ranks in the light of information that last Sunday’s ambush against marines in Ungkaya Pukan, Basilan was staged by rebels backed by Abu Sayyaf bandits.
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527182
BI chief wants visas for all RP visitors
By Artemio Dumlao
Wednesday, May 28, 2008
BAGUIO CITY – Bureau of Immigration (BI) commissioner Marcelino Libanan admitted on Monday the government is in the dark as far as the number and identities of illegal aliens in the country, and recommended that all foreigners entering the country should get visas, even those from the Association of Southeast Asian Nations (ASEAN).
http://www.philstar.com/index.php?Headlines&p=49&type=2&sec=24&aid=20080527183
SEC intervention may scare away foreign investors
By Likha Cuevas-Miel, Reporter
The intervention of the Securities and Exchange Commission (SEC) in the boardroom battle for the Manila Electric Co. (Meralco) may scare away investors from the Philippines, analysts said Tuesday.
http://www.manilatimes.net/national/2008/may/28/yehey/top_stories/20080528top2.html
Executive doubtful of restraining order
By Likha Cuevas-Miel, Reporter
The stockholders’ meeting of the Manila Electric Co. (Meralco) pushed ahead because the Lopez-controlled management questioned the validity of the cease and desist order issued by the Securities and Exchange Commission (SEC).
http://www.manilatimes.net/national/2008/may/28/yehey/top_stories/20080528top3.html
Garcia discloses gameplan when he takes over utility
By Likha Cuevas-Miel, Reporter
It’s not over until it’s over for the chief of the government pension fund.
Expressing confidence that he will win in the end, Winston Garcia, the president and general manager of the Government Service Insurance System (GSIS), laid out his gameplan on his planned takeover of the management of Manila Electric Co. (Meralco) during a briefing late Tuesday afternoon at Crowne Plaza Galleria in Pasig City.
http://www.manilatimes.net/national/2008/may/28/yehey/top_stories/20080528top4.html
Meralco officials face contempt charges
Officials of the Manila Electric Co. (Meralco) could be cited for contempt if they disregard the restraining order issued by the Securities and Exchange Commission (SEC), senators said Tuesday.
The restraining order was issued while the Meralco stockholders were meeting, primarily to decide whether the Lopez Group was to retain management of the utility. Winston Garcia, president of the Government Service Insurance System (GSIS), wants the Lopezes out, claiming they are making Meralco a milking cow to the detriment of electricity consumers. The Lopez Group denies any wrongdoing and blames government surcharges for the high rates.
http://www.manilatimes.net/national/2008/may/28/yehey/top_stories/20080528top7.html
Senate okays new exemptions
Bill certified as urgent gives higher exemptions to taxpayers
By Efren L. Danao, Senior Reporter
The Senate passed Tuesday on third and final reading the certified bill exempting minimum-wage earners from paying income tax, and increasing the personal and additional exemptions of taxpayers.
http://www.manilatimes.net/national/2008/may/28/yehey/metro/20080528met1.html
Malaysia furious over renewed Sabah claims
Rumblings from freed rebel Nur Misuari and the regrouping of the Moro National Liberation Front are reportedly serious concerns
By Al Jacinto, Correspondent
Zamboanga City: A senior Malaysian politician, furious over a renewed Philippine claim to Sabah, have called for stricter laws on Filipinos traveling to the oil-rich state.
http://www.manilatimes.net/national/2008/may/28/yehey/prov/20080528pro1.html
Lozada leaves fate to senators
BY EVANGELINE DE VERA
NBN-ZTE star witness Rodolfo "Jun" Lozada yesterday said he is leaving his fate to the senators should they remove his security detail and stop spending for his provincial tours.
http://www.malaya.com.ph/may28/news5.htm
Lozada fails to convince CA on ‘threats’ vs him
05/28/2008
Rodolfo Noel “Jun” Lozada Jr., Senate star witness in the alleged anomalous $329.5-million National Broadband Network (NBN) project deal forged by the government with Chinese firm ZTE Corp., has failed to convince the Court of Appeals (CA) that the State needs to provide him secu-rity as he said his life is in danger apparently from those he had implicated in the issue.
http://www.tribune.net.ph/headlines/20080528hed5.html
Naglahong P9B Bicol fund kakalkalin ng Senado
Nawawalang parang bula ang P9 bilyong calamity fund kabilang dito ang P8 bilyon na Calamity Assistance and Rehabilitation Effort (CARE) na pondo para sa mga nasalanta ng sunud-sunod na bagyo sa Bicol region noong taong 2006.
http://www.abante.com.ph/issue/may2808/news02.htm
Lozada escort ibinalik
(Rey Marfil)
Nauwi sa ‘laban-bawi’ ang security escort ni dating Philippine Forest Corporation (Philforest) President Rodolfo ‘Jun’ Lozada Jr. matapos ibalik ng liderato ng Senado ang dalawang tauhan ng Office of the Sergeant At Arms (OSAA) na tinanggal dito.
http://www.abante.com.ph/issue/may2808/news05.htm
Endorsement ban sa Senado kinontra
(Boyet Jadulco)
Bagama’t aminadong napapanahon ang regulasyon sa pag-endorso ng mga pulitiko sa isang produkto, sa pamamagitan ng commercial, walang nakikitang rason si Senate President Manuel Villar Jr., upang ipatupad ang ban dito.
http://www.abante-tonite.com/issue/may2808/news_story5.htm
4-day work week sa gov’t offices
(Eralyn Prado)
Ipinanukala ng isang kongresista ang implementasyon ng four-day work week policy sa mga ahensiya ng pamahalaan bilang bahagi pa rin ng pagnanais na makatipid ng enerhiya ang bansa.
http://www.abante-tonite.com/issue/may2808/news_story6.htm
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