Danding's final victory

After a quarter of a century – enduring three years of forced exile without a passport, over 25 PCGG cases filed against him, suffering incessant media attacks against his person and reputation, undergoing several “near death” experiences, Ambassador Eduardo “Danding” Cojuangco Jr. finally overcame a long-drawn out legal battle with the Supreme Court ruling with finality that ECJ is the legitimate owner of the contested 20 percent shares in San Miguel Corp. The SC decision should now put to rest any claims that the more than 16 million shares of Danding in the giant conglomerate was ill-gotten.

In 1986, the PCGG sequestered 47 percent of San Miguel shares and filed several cases against Cojuangco, who eventually recovered control of the 20 percent while the other 27 percent was awarded to the government. The Sandigan-bayan subsequently junked a civil case contesting ownership of the 20 percent shares. A lot of people find it ironic – some call it poetic justice – that Danding’s adversities which started during the presidency of the late Cory Aquino now sees closure during the presidency of her son, Benigno Aquino III.

I distinctly remember being at Enrique Zobel’s penthouse office at BPI with EZ’s former general factotum, Benito “Bomboy” Araneta, when Danding Cojuangco arrived with Chit Pineda to finalize the details for the buyout of the Ayala Group’s huge stake at San Miguel. The deal was consummated at the office of Enrique, then chairman of the Bank of Philippine Islands. As a matter of fact, Enrique Zobel’s move cost him his removal by Joseph McMicking as top honcho of the Ayala Group, and replaced him with his cousin Don Jaime Zobel, father of Fernando and Jaime. These facts were confirmed by no less than former Cory Aquino spokesperson Teddy Boy Locsin Jr., who said that EZ sold the Ayala shares out of sheer irritation at their cousins, the Sorianos – who foiled his attempt to wrest control of management which the Sorianos had wielded for over half a century. Teddy Boy also disclosed of a plot hatched sometime in 1989 by some Makati Business Club members (in collusion with some of Danding’s “Judases”) to make ECJ’s shares disappear into a Hong Kong holdings company under the control of an unnamed entity.

In this country, nobody accepts defeat either in politics, sports or even in legal battles. Vested interest groups posing as cause-oriented groups are probably the worst of the lot. When a decision is handed down in their favor, they laud it to high heavens as an example of the court’s probity and wisdom. But if a decision does not conform to their liking, they loudly condemn it. Whatever the case, the SC decision should serve as a total vindication for Danding who has lost interest in power or money but more determined to clear his name and restore his legacy as a businessman.

After his presidential bid in 1992, ECJ began relinquishing leadership over the NPC, the political party he founded. He is currently semi-retired, occasionally going to his SMC office and attending board meetings. He spends most of his time traveling to his hometown in Tarlac, giving back to the place where his fortune started through scholarships and livelihood programs under the Eduardo Cojuangco Foundation (ECF). Just a few weeks ago, ECF awarded scholarships to 85 poor but deserving students who will take up vocational-technical courses with monthly stipends, book allowances and job placement assistance after graduation. ECF also provides full scholarships for public school teachers taking up masteral and doctorate degrees.

Dondi Teehankee’s finale

The World Trade Organization’s appellate body recently affirmed the rulings of a panel regarding the 2008 complaint filed by the Philippines against Thailand over supposed violations of some 1994 GATT provisions, alleging that Thailand’s customs valuation practices, excise taxes, licensing agreements and import guarantees were administered in an impartial and unreasonable manner that affected cigarette exports from the Philippines. The WTO Dispute Settlement Body (DBS) established a panel to study the complaint, eventually ruling that Thailand indeed acted inconsistently with regard to several Articles of the 1994 GATT. Thailand appealed the ruling but the appellate body affirmed the findings last June 17. Outgoing Philippine Ambassador to the WTO Manuel Teehankee reported the decision as part of his legacy and gave the report to Foreign Secretary Albert del Rosario and DTI Secretary Greg Domingo, saying the decision represents a “complete victory” for the Philippine position. The next step now is for Thailand to comply with the recommendations of the panel and the appellate body within a reasonable period of time.

Still on cigarettes, the US Food and Drug Administration is now requiring manufacturers to include grisly images of rotting teeth, diseased lungs, corpses and smokers wearing oxygen masks on nine new labels on cigarette packs not only to warn smokers but to turn them off against lighting up. Manufacturers are naturally contesting the FDA order since the warnings will take up the entire top half on both the front and back of cigarette packs, making it difficult for buyers to see the brand names.

Spy tidbits

– A condom manufacturer is seeking European approval for a brand that supposedly results in maintained and “improved firmness” and bigger “dimension” through a gel that is placed at the tip. The gel is said to dilate the arteries that increases blood flow to the appropriate body part. Double blind studies showed a significant proportion of couples admitting enhanced experiences through the gel-tipped condom, initially set for distribution in several European countries. Expect a furor when this condom brand reaches Philippine shores.

– People Asia magazine is launching its iPad app version today at the New World Hotel in Makati. The launch also coincides with the magazine’s annual “Men Who Matter” event which features distinguished individuals from various fields such as actor Robin Padilla, Executive Secretary Jojo Ochoa, business scion Donnie Tantoco, singer Jed Madela and many others.

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