Postscript

The people have spoken. Benigno Simeon “Noynoy” Aquino III is the 15th president of the Republic of the Philippines.

That he won by an overwhelming margin is no surprise. After all, those who rallied behind him and supported his bid were true believers in what he stood for.

I am surprised though with the way the vice-presidential race turned out. That Mayor Jejomar “Jojo” Binay will lead the race, sans a small margin against Mar Roxas, was a disappointment, at least for me. After all, I am not impressed by what he did for Makati, the country’s premier district. And allegations of corruption against him have not gone away. I also am not in favor of the political dynasty he has created in Makati. His son as mayor and his daughter as a member of the House of Representative? C’mon. He managed to become the vice-president without abandoning his fiefdom. At least Bayani Fernando sacrificed losing his family’s hold on Marikina when he decided to go for the vice-presidency.

The top 12 in the senatorial race is also a big disappointment. Obviously, it was not about qualification but about who is the most popular. I never saw a political ad of Tito Sotto and Lito Lapid but they managed to win. Bong Revilla and Jinggoy Estrada as the frontliners? What are the voters thinking?

We have moved from manual to automated elections but politics in this country has remained the same. Former President Joseph Estrada hardly spent for campaigning but he managed to get more votes than the biggest spender in the 2010 elections, Manny Villar. Gloria Macapagal Arroyo won in the Pampanga congressional race, although we doubt whether those who voted for her have any inkling as to the repercussions of GMA being in the House of Representatives. If she becomes speaker of the House, she will definitely not give Noynoy an easy time.

Meanwhile, the voters view the automated election in different ways. Personally, I found the oval-shaped portions of the ballot that I was supposed to shade as too small. And of course, there are a lot of reports about PCOS machines not working, of the transmission of the certificates of canvass being delayed. True, the process of counting the votes is faster but it’s another thing concluding that it is more reliable or that the election is more credible.

 And now, the task of rebuilding this nation begins for Noynoy. It is his chance to prove to all and sundry that he deserves the votes he got, including mine.

Danding out of SMC?

Is San Miguel Corp. (SMC) chairman and CEO Eduardo “Danding” Cojuangco Jr. bowing out of SMC?

What started out as a rumor is turning out to be factual.

SMC has confirmed that based on the documents submitted by Top Frontier Investment Holdings, Inc. to the Securities and Exchange Commission (SEC) in connection with the tender offer initiated by Top Frontier for common shares of stock of SMC, 44 corporations associated with Cojuangco executed an agreement with Top Frontier granting the latter an exclusive option to acquire a total of 493.3 million common shares of SMC until Nov. 19, 2012, at an option price of P75 per share.

We can only surmise as to the reason behind this move. Some say the sale of his SMC stake has something to do with succession problems, just like what businessman Lucio Tan is experiencing with his own empire. They believe that this strategy is meant to keep SMC’s management in the hands of people who are fit to run the company while at the same making Cojuangco’s heirs content by distributing his wealth while he is still alive as part of estate planning.

Others say this is just the natural order of things. He is 75 years old and SMC is in good hands. The company has grown from a food and beverage company to a holding company with investments in very profitable assets and ventures. Cojuangco can bow out of SMC with a large smile on his face.

 For comments, e-mail at [email protected]