Beware of high-octane water

Spybiz Ear-Spies heard that the head of a leading business organization in the Philippines filled up his Lexus SUV with premium gasoline at a Greenhills gas station of one of the leading gas companies. When the engine failed to start, the businessman had the Lexus towed to a Balintawak Toyota dealer. A sample from the gas tank was sent to the testing and laboratory center of the Department of Energy, and findings revealed that the gas had 50-percent "premium water" in it. The business executive paid a premium to repair the damage to his Lexus because of this mismatched mixing, so now he’s reportedly seriously thinking of suing this gas company and publicizing it to protect other car owners in the future.

Disunion over non-delivery of title

A leading construction company has filed estafa and swindling charges against the owners of a 48-story building located in a bustling central business district in the metropolis. According to sources, the owners allegedly failed to deliver the title to the 45th floor of the building, which is part of a settlement agreement between the construction company and the consortium composed of a bank and several corporations. The complainant alleged that in 1996, their construction company undertook an agreement to provide construction work, which took longer than the three-year target because the consortium could not come up with sufficient funds to complete the project. In 1999, the new consortium forged an agreement with the construction company to restart the work and complete the building. Both parties also agreed that the total obligation of the original consortium totaled more than P23 million, and part of the payment would be the entire 45th floor penthouse of the building. The construction company did its part, and an occupancy permit was issued in October last year. All the commercial spaces of the building have been reportedly occupied since last year. What is causing the disunion, however, is the refusal of the consortium to deliver the title to the 45th floor. The building reportedly serves as the bank’s headquarters.

False hopes and empty promises

Spybiz Ear-Spies informed us that during the transition between former Commissioner Ben Santos and incumbent Insurance Commissioner Estelle Escobillo, the P200,000 per month conservator Teresita Endriga was allegedly able to squirm her way back to Nicphil at the much-reduced compensation of P15,000 per month. While Nicphil has been cash-strapped since the Insurance Commission granted it with a 90-day cessation of operations last July, Endriga reportedly had the temerity to promise the release of the employees’ separation pay – allegedly by diverting the P7 million Philippine Association of Smelting and Refining (PASAR) claim to be paid by the London-based reinsurance broker Benfield Group (BG). Reinsurance brokers facilitate the distribution of risks among international reinsurers who share in the payment when a claim occurs. BG has an office in Singapore and operates under the name of Benfield Asia Pte Ltd., and among its reinsurers are Employers Re (a subsidiary of General Electric), Converium, and MidOcean Re. Observers are wondering however if the conservator just might be giving empty promises and false hopes to the employees.

Spy tidbiz: Dilangalen disclaimer

There is no truth to the rumor that Digs "Mr. Shut Up!" Dilangalen is joining the GMA camp as a spokesperson. The Opposition Spy-Ring reported that Digs was asked to resign by former President Joseph Estrada because his wife didn’t show up during the impeachment vote. There is also no truth to the rumor that Erap’s peacock – Garci – will serve as his official spokesperson or is it spokes bird? Or whatever.

Spybiz rumor: News of Garci’s demise

While there have been sightings reported about Virgilio "Hello Garci" Garcillano in the US, UK, Brazil and other Latin American countries by various sources, rumors have not stopped circulating that the former Comelec Commissioner is not likely to show his face ever again because he has reportedly been terminated with "extreme prejudice." Kibitzers have remarked that Garci may be more comfortable telling his tale up there or down there depending on whether he was able to do the "act of contrition" or the "I am sorry" routine before his reported demise. In this country, however, where rumors abound, no one knows for sure the "truth" and like Mark Twain, Garci may one day appear and say that news of his death has been greatly exaggerated.

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