ISM eyes PT&T

ISM Communications Corp. (formerly Itogon-Suyoc Mines Inc.) has just confirmed that it is indeed targeting to acquire a controlling 40 percent stake in an unlisted and one of the oldest telecommunications companies in the country for P400 million. Due diligence investigations of the company’s books will soon follow.

The two oldest and unlisted telcos in the country are PT&T owned by the Santiago family (also of Capwire) and Eastern Telecoms. Our sources are pretty sure that it is PT&T.

Women Rule

Vice-presidential candidate and Senator Loren Legarda has made a very interesting suggestion to further women empowerment in business and gender equality.

She wants leaders of Philippine corporations to put more qualified women on their boards to help promote gender equality in the boardroom and for the Securities and Exchange Commission headed by a woman, Lilia Bautista, to encourage publicly listed firms to appoint a woman to fill up at least one of two board seats reserved for independent or outside directors. Of course, shareholders themselves should nominate and elect more women directors.

According to Legarda, in Norway, all corporations are required, under pain of legal action, to give both men and women at least 40-percent share each of board seats.

A United Nations Development Program (UNDP) study ranks Norway and other Nordic countries as the best places for women to live in because of stringent laws ensuring gender equality and work standards that make it easier for women to pursue careers and motherhood at the same time.

Reaction

"I read your article on Hidden Agenda (old and new rumors) and I just want to set the record straight that I have been the recipient of countless text discrediting Manny Pangilinan’s group which I have forwarded to him because we are friends.

By the way, I am pissed at your statement that I have been sending out these messages myself when in fact I am the recipient of unsigned messages. I don’t even bother to send out unsigned messages. I have kept several of them even letters mailed to me.

I believe you owe me an apology for wrongly accusing me of such act.

For your information, the number that sends unsigned text messages is 922-4041145." – Vivian Yuchengco

Dear Ms. Yuchengco:

I don’t think I owe you an apology. In the first place, I did not wrongly accuse you. I merely said that a reporter asked Manny Pangilinan if he knew about rumors circulating at the Philippine Stock Exchange about you sending anonymous text messages discreting Manny’s group. He already knew about the rumors (even before the reporter asked him) and he says he was surprised because he thought you were his friend. I was there (and so were several other mediamen when the reporter asked Manny). I was just reporting what happened. By the way, have you bothered to ask Manny if he believes it was really you? I know the answer because he told us but it would be better if you ask him yourself. – Mary Ann Reyes

Consumer Complaint

To what extent should a manufacturing company involve itself when a consumer complains about its product?

Mrs. Rosal of Naga City complains about this popular deodorant brand that has damaged a large portion of her teenage daughter’s skin. Her daughter is now under medication by a doctor who confirmed that the allergy was caused by her deodorant and that she is her second patient to be treated for the same problem caused by the same brand.

When Mrs. Rosal came to Manila, she went to the manufacturer who according to her were apathetic. They asked about the batch number of the product, date of purchase, where purchased etc. When she requested if they can see her daughter and probably have another doctor see her, they said they will just reimburse the purchase price or the medication expenses.

The company representatives easily dismissed the case as an isolated incident. What if there was really something wrong with the product? Don’t they want to find out by seeing the girl for more tests?

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