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Insider trading? Big deal EDITORIAL 10/09/2011

Sunday, October 9, 2011

Insider trading? Big deal

EDITORIAL
Click to enlarge
10/09/2011
The Senate raised the possibility the other day that insider trading may have occurred in the sale of some of the prime assets of the government in the Manila Electric Co. and oil refiner Petron Corp., primarily the shares that belonged to state bank Development Bank of the Philippines (DBP) sold to businessman Roberto Ongpin.

The exotic sounding blue-collar crime insider trading was also raised previously and among the most celebrated of these cases supposedly were that of former President Joseph Estrada involving the purchase and sale of BW Resources stocks.

Insider trading, in fact, was among the four cited instances for the plunder conviction of Estrada in 2007.

That case, however, was never proven, either in court or the SEC, although he was convicted, it was evident that the conviction was politically motivated..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20111009com1.html

Witch hunt FRONTLINE Ninez Cacho-Olivares 10/09/2011

Witch hunt

FRONTLINE
Ninez Cacho-Olivares
10/09/2011
Sadly, Senate investigations — claimed to be done in aid of legislation — have become witch hunts, with some senators who seek such investigations fixated on the Arroyo couple, ensuring that despite lack of evidence during such hearings, whoever is identified as an associate or friend of the previous administration becomes the target for a trial and conviction by publicity.

The Senate panel’s target this time around is businessman Roberto Ongpin, mainly because he has been identified by them as a friend of Mike Arroyo, whom they are still trying to link to all sorts of deals.

From the very start, a hearing was sought by one senator on Ongpin, mainly to fish for information that he is a front for Mike Arroyo in his business deals. The senators quickly seized on the alleged behest loan from the Development Bank of the Philippines (DBP) obtained by Ongpin. Not too long after, there were already allegations of insider trading linked to Ongpin — and from there, dots were connected by the Senate panel to link him to Mike Arroyo.

Forgotten is the fact that a DBP lawyer committed suicide due to the DBP appointees of Noynoy were threatening him with cases, if he did not come up with a perjured affidavit to pin down Ongpin..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20111009com2.html

Lybia - a looney bin divided

Lybia - a looney bin divided

 Usually the saying goes, "A house divided against itself cannot stand." However, thanks to NATO, Libya has become a looney bin and the wackos, the loonies are running the asylum.

We have known from the very beginning that this gang of terrorists and criminals known as the National Transitional Council were constantly fighting among themselves. Strange that garbage at NATO hasn't noticed.

The most significant event of their in-fighting was the killing of General Abdel Fatah Younis, the chief of staff of the rebel forces. Curiously enough, the NTC issued an arrest warrant for Younis hours before his assassination.

After much controversy regarding him being missing, dead or abducted, his body was finally found partially burned and full of bullet holes. after constant denials of knowing his fate or that he was even missing..... MORE

SourcePravda.ru

URL: http://english.pravda.ru/opinion/columnists/09-10-2011/119272-Lybia_a_looney_bin_divided-0/

Presidential instinct TABLETS OF STONE Larry Faraon, OP 10/09/2011

Presidential instinct

TABLETS OF STONE
Larry Faraon, OP
10/09/2011
If he paid at least a lightning visit to the flooded areas in Luzon immediately upon alighting from the plane from Japan at the Clark Air strip, President Noynoy Aquino would have less explaining (aka justifications) to do rather than if he didn’t. And he didn’t and is now taking all the flak for dilly-dallying or a “better late than later!”

He has lost his terms of endearment to the Filipino people, if ever he registered with such to the Filipino consciousness. But it does not take logic or a matter of management style for something that belongs to purely presidential instinct.

The past presidents floated their relational strategy with the people in terms of familial and familiar intimacy. The late Ferdinand Marcos was an “Apo,” Cory Aquino was a dear “Tita,” Fidel Ramos had his godfather moniker “El Tabako,” Joseph Estrada’s perfect presidential image as “Ama ng Masang Pilipino” and Gloria Arroyo’s sibling appeal as “Ate Glo.”.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20111009com5.html

Canadian gold mine project sows discord in Romania FEATURE 10/09/2011

Canadian gold mine project sows discord in Romania

FEATURE

10/09/2011
ROSIA MONTANA — On the surface, it is just one of the many picturesque villages of Transylvania, a region called Romania’s “national treasure” by Britain’s Prince Charles for its stunning nature.

But Rosia Montana, a former Roman site in the northwest, lies on one of the biggest gold deposits in Europe: A blessing for some, a malediction for others.

With the precious metal regaining ground as an investors’ haven, a Canadian company is pushing to open a mine that has divided locals and triggered a fierce controversy on environment and heritage concerns.

Tens of thousands of tons of cyanide will be needed to extract 300 tons of the previous metal — a scale unseen in Europe where only one percent of the world’s gold is produced..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20111009com6.html

CCT=Indolence, political preparation FEATURE 10/09/2011

CCT=Indolence, political preparation

FEATURE

10/09/2011
Conditional cash transfer (CCT) equals indolence affirmation and dependence promotion, payola distribution and political preparation.

The infamous CCT being assiduously funded by this government through merciless direct and indirect taxes imposed on all Filipinos — the CCT recipients included — can mean anything but its ridiculously claimed intention of poverty alleviation.

Is it too hard to understand that CCT is a plain and direct dole-out system?

Is it too difficult to see that CCT is nothing more than a band-aid solution in alleviating poverty? Is it too complex to see the wisdom behind the ancient saying that instead but giving them fish, teach people instead how to fish?.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/commentary/20111009com7.html

Central Luzon flooding could last a month—NDRRMC 10/09/2011

Central Luzon flooding could last a month—NDRRMC

10/09/2011
Massive flooding in Central Luzon brought about by back-to-back typhoons could last for a month even as the typhoons’ death toll reached 95, the chief of the National Disaster Risk Reduction and Management Council (NDRRMC) yesterday said.

Waist-deep floods left behind by typhoons “Pedring” and “Quiel” were being made worse by continuous rains on the coastal areas north of Manila, NDRRMC executive director and concurrent Office of Civil Defense administrator Benito Ramos noted.

“This flooding is the effect of Pedring and Quiel. It is still raining here so we expect at least two more weeks before (the floods) will subside, assuming it will stop raining soon,” said Ramos as he inspected the flooded areas.

“If it continues to rain, it will take one month for the waters to subside,” he told Agence France Presse..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20111009hed5.html

Cha-cha beyond economic provisions possible — Binay 10/09/2011

Cha-cha beyond economic provisions possible — Binay

10/09/2011
The move to amend the Constitution has the possibility of going beyond the economic provisions despite the insistence of House leaders who are pushing Charter change (Cha-cha) that the proposed amendments will be made strictly to enhance the competitiveness of the economy.

Vice President Jejomar Binay expressed concern that the move to amend the Constitution might go beyond the economic provisions.

“While the assurance was made that the amendments will focus only on economic provisions, there is still the chance that it will go beyond it,” Binay told reporters during the Pabahay Caravan in Calapan, Oriental Mindoro.

He said President Aquino, however, had said that amending the Constitution was not a priority of his administration..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/headlines/20111009hed3.html

RP, Vietnam agree to enhance cooperation at Hanoi talks 10/09/2011

RP, Vietnam agree to enhance cooperation at Hanoi talks

10/09/2011
Foreign Affairs Secretary Alberto del Rosario said it is a commitment of the government to steer Philippines-Vietnam relations toward a more meaningful and deeper cooperation as he acknowledged the 11 areas of cooperation reviewed by senior officials of both countries at the 6th Philippines-Vietnam Joint Commission for Bilateral Cooperation (JCBC) held on Oct. 6-7 in Hanoi.

This year, the Philippines and Vietnam are celebrating the 35th anniversary of the establishment of their diplomatic relations.

Since the last JCBC in 2008, the two countries have worked together on a number of areas such as political cooperation, defense and security, trade and investments, maritime and ocean concerns, agriculture, energy, tourism, education and culture.

Del Rosario and Vietnamese Foreign Minister Pham Binh Minh highlighted the official exchanges that continue to give impetus to the bilateral relations, notably the positive outcomes of the visit to Vietnam by President Aquino in October 2010 and the forthcoming visit of President Truong Tang to the Philippines later this month. PNA.... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20111009nat7.html

4-year-old boy killed, 4 others injured in Laguna landslide By Gina Peralta-Elorde 10/09/2011

4-year-old boy killed, 4 others injured in Laguna landslide

By Gina Peralta-Elorde 10/09/2011

A landslide in San Pedro, Laguna last Friday afternoon killed a four-year-old boy and injured four others, police report said.

Killed was Rommel Gonzales, 4, and the injured were identified as Dang Navarro, her two sons Nonoy, 11, and Loloy, 9, and a certain Totoy Guevarra, 3.

They sustained fractures and bruises in their bodies and are being treated at the Orthopedic Hospital in Quezon City.

The report said boulders bigger than cars rolled down from 20-foot high old quarry hitting on houses in Barangay San Antonio, San Pedro, Laguna around 3 p.m. last Friday..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20111009nat1.html

Negligent police station commanders face revamp By Gina Peralta-Elorde 10/09/2011

Negligent police station commanders face revamp

By Gina Peralta-Elorde 10/09/2011

Philippine National Police (PNP) chief Director General Nicanor Bartolome yesterday said some commanders of police stations will be revamped following the spate of killings involving motorcycle-riding men.

Bartolome said such crimes indicate negligence by the station commanders and so they need to be replaced.
The PNP chief added police visibility is needed to beef up security measures so that such crimes will not be rampant.

“If needed, some station commanders who are not doing well in their areas of jurisdiction should be replaced,” Bartolome added.

He also noted that the PNP must implement new strategies to prevent crimes perpetrated by these motorcycle-riding in tandem suspects..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/metro/20111009met1.html

Solon wants disparity in social allowances for judicial execs corrected 10/09/2011

Solon wants disparity in social allowances for judicial execs corrected

10/09/2011
Congress must correct the disparity in the grant of special allowances to judicial officials under Republic Act (RA) 9227, Ang Kasangga Rep. Teodorico Haresco said yesterday.

“There seems to be an unintentional injustice in the grant of allowances to judicial officials,” Haresco said as he urged the House of Representatives to pass a remedial measure contained in HB 5210.

RA 9227 is known as an “Act Granting Additional Compensation in the Form of Special Allowances for Justices, Judges and all other Positions in the Judiciary with the equivalent rank of Justices of the Court of Appeals and Judges of the Regional Trial Court, and for other purposes.”

The law was enacted granting, among other things, additional compensation in the form of Special Allowances to the above mentioned judicial officials..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/metro/20111009met3.html

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