Following a threat from tycoon Manny Pangilinan to leave the Philippines and take with him his money, House Majority Leader Neptali Gonzales II has warned that the Philippines may be in for a crisis of confidence, presumably if this sort of thing becomes a trend…
The House majority leader warned Pangilinan’s move would become “a very unfortunate blot in the government’s efforts to spur economic growth and investments.â€
“The steady performance of our economy today is the result of a confluence of factors that a daring investor in the like of Mr. Pangilinan has greatly contributed into,†the veteran lawmaker explained.
Malacañang also issued statements urging Pangilinan to re-consider…
Deputy presidential spokesperson Abigail Valte said Pangilinan should stay in the Philippines as the matter will eventually sort itself out.
“We certainly hope this will not be the case, these things sort themselves out (in due) time,†she said on government-run dzRB radio.
Pangilinan who heads Hong Kong-based investment powerhouse First Pacific Group was furious over being dragged into a controversy that erupted after “Senator” Antonio Trillanes was outed for his “backdoor negotiations” with China by Senate President Juan Ponce Enrile in a Senate session verbal melee last Wednesday. First Pacific is currently staking a significant amount of capital in explorations for oil and natural gas being undertaken in disputed waters off Palawan in Recto Bank near Scarborough Shoal.
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Enrile had alleged that Trillanes had seriously compromised the efforts of Department of Foreign Affairs Secretary Albert del Rosario to resolve the dispute with the Chinese government along official channels. Malacañang for its part had distanced itself from Trillanes since.
Already, Pangilinan had reportedly withdrawn support for his alma mater, the Ateneo de Manila University over “irreconcilable differences” relevant to aspects of his personal views and the corporate position of his firm related to reproductive health and mining activities in the Philippines.
Despite recent “news” that the economy of the Philippines is expected to post strong growth in the near-term, the country has long been a consistent development laggard when compared to other countries within the region. While other southeast Asian countries have made progress laying the groundwork for sustainable development by focusing on expanding their capital bases and boosting infrastructure spending, the Philippines remains dependent on consumption propped up by remittances from its vast force of Overseas Foreign Workers (OFWs). At least 10 percent of the value of the Philippine economy is accounted for by remittances coming from OFWs.
The Philippines has struggled to compete in key industries even with its peers in the Association of Southeast Asian Nations (ASEAN). Last Friday, Isuzu Philippines had announced the most recent of factory closures in the country citing high costs as the main reason for the pullout…
In a briefing, the Japanese carmaker’s executives said the company may stop production next year, as local assembly costs $1,800-2,000 more than in Thailand.
Shutting down the DMax assembly line, which produces 3,000 units a year, would displace 30,000 workers in the parts business. Isuzu Philippines sources a fourth of its parts from the local market.
Yet, many Filipinos seem to fail to grasp the dire future they face if they continue to fail to deliver a convincing value proposition to investors, both foreign and domestic. A recent Facebook post by noted “journalist” Marites Vitug of “social news network” site Rappler.com typifies the arrogant position many Filipino “activists” take…
It’s okay if [Pangilinan] makes his threat a reality. No one is indispensable, as the late publisher Raul Locsin used to tell us.
A certain Gerry Cornejo placed a comment on the above post saying “good riddance to you MVP, the noveau-pacman, engulfs and devours everything in its path…” Another commenter, Ed Tadem opined in his comment, “Let him go back to his Indonesian employer and ex-Suharto crony family. He hasn’t founded anything of worth in the country; he just takes over existing companies.”
For now, we can only wait and observe whether things, as presidential mouthpiece Abi Valte says, will eventually “sort themselves out”.
benign0 is the Webmaster of GetRealPhilippines.com.
Man. Filipinos are the Filipinos worst enemies. Who knew???
You can’t have too much pride or else who will be humble enough to do the dirty work? Problems with pinoys: misplaced pride and misplaced shame . Add those two together you rarely get concrete action.
Not sure how people can think that it’s good for Pinoy money to leave and how that ever can translate to foreign money coming in. Not sure where they think jobs come from. Oh I forgot , it’s more fun in the Philippines.
Just noticed an possible typo, you said “Senator†Antonio Pangilinan, not Trillanes, was outed.
Oops! Thanks for pointing that out. I’ve made the correction. 🙂
In behalf of the millions of us who migrated due to the disgust we have over how things are and how we are treated in that “country”, we are looking forward to telling Manny Pangilinan: “Welcome to the club!”
Nice to see you here
Rafterman! So nice of you to drop by!
I don’t think Filipinos truly grasp the impact that Manny Pangilinan’s departure will have on the Philippine economy. Let them figure it out the hard way. They’re “resilient” anyway.
I’m Reading Micheal Schuman’s book “The Miracle: The Epic Story of Asia’s Quest for Wealth”.The Philippines doesn’t even show up in the glossary. And after reading this post, I now see why that’s the case.
As the saying goes, “You don’t know what you got ’til its gone”.
It’s easy to tell him to go away but the snowball effect that happens after is what Filipinos who don’t want to see the other side of the coin tend to disregard.
I always believed that it is shortsightedness that always fails the country and its people.
As an example, I really believe our cities that were planned (as far as my knowledge goes), were properly thought out. However, it was in the execution and implementation that they failed to see things long term. As such we are stuck spending more of patchwork and mending that it doesn’t really deal with the root cause of the problem, just the symptoms it presents.
a temper tantrum by someone only used to running one horse races.
try and be a businessman in the west or in an open economy. that would soon shut him up.
For threatening to quit, Pangilinan only prove that he’s a jerk. The worse thing a businessman can do is to blackmail the government. Same thing with those who will cling on Pangilinan’s coat tails to prevent him from leaving. He wants to go, he is free to go. No need to issue threats. The last thing this country need are rich jerks like Pangilinan who will not hesitate to dump the country where he earned his billions just because his name was involved in a political squabble.
@jona-s
Because people value protecting their name. If that doesn’t apply to you then so be it. But I would side with Pangilinan on this one.
In essense, if you know you did nothing wrong and people are accusing you of such, you put your foot down with an ultimatum. You are basically putting it in a “your word against mine” fight anyway with neither side able to show proof to defend and prove guilt.
I wouldn’t want my name to be tarnished and since those in power seem to drag my name in the mud, might as well just leave to show them that what they claim is not true.
If he is free to leave, then why are you upset that he said he may opt to leave then? What is wrong with that?
“Flight is an indication of guilt.”
If you value and want to protect your name, you don’t run away in times of trouble. Â You stay put and face the people who wants to destroy not only your name buy also your whole being.Â
Leaving and letting people drag your name in the mud is the wrong kind of response from someone who professes value and protection in preserving one’s name.
Threatening to quit is not an ultimatum, it’s a surrender and a blackmail against the innocents.
Yes, he is free to leave that is why there is no use for him to make threats. If he really wants to quit, why make threats and alert everybody? To scare people and remind them of his importance? To make negative impact on the economic situation?Â
I tell you, my friend, that’s not only blackmail, that’s also sabotage.
MVP does not need to prove his “values” or “worth” to anyone. He does not care what Pinoys think of his name because for him Pinoys are inconsequential. They need him more than he needs them. He does the things that he does not for anyone. He does the things that he does because he earned the right to have that kind of attitude. He likes to do it, he can do it and he will do it kung ayaw niyo itigil gulo niyo. More will follow suit and there is nothing you can do about it.
If that’s the case, why don’t we just make him a king?
But it would be hard to do that for someone who, on the first sign of danger, will run away from a fight.
@jona-s
Well, I would think there is a reason why the likes of Lucio Tan et al are not acting the same way he is when caught in a similar situation or “cross fire” between two political figures. I think for the most part they are more “indebted” and are really caught in a tit-for-tat relationship with those in power. Comparing to Pangilinan, I believe at least it is a bit more geniune. You can label him more capitalistic on how he does business or what not, but at least he has little need to show “utang na loob” to politicians which make him feel the need to shut up because of it.
Yes, the squabble is between Trillanes and Enrile. However, Trillanes brought him into the cross fire and it in essence inflicted collateral damage. What damage? Well given he is basically the face of PLDT and TV5 initially, his being “embroidled” in a controversy of non just within Philippine territory but actually with another country (in this case affecting China talks), then he not only takes a hit personally, but also his business which affects more than just himself. As such protecting his name comes first.
So what leverage do you have to push these wild stallions to calm down and man up to a proper attitude and de-corum? Why, the one thing they desire from you, your investment.
I don’t think he is joining the political fray but rather he knows what political points those who caused the crossfire/conflict stand to lose should he make good on his claim.
As for the timing, I think it is okay. Silence means yes for most people and as such his silence may mean Trillanes’ claims are counted as valid. So while this issue is still young, he nips it in the bud to lessen any further risks against people losing confidence in him. A way of him saying, I am not here to play your political games so keep me out of it.
That is my take on it.
If they are “indebted and are really in a relationship with those in power,” the more it make sense that they should quit. Remember, Tan and Danding were both subject of too much speculation and allegation of corruption for being cronies of former president Marcos. And the attacks on them happened during and after when Marcos was no longer in power. They should have quit right there and then to avoid obliteration but they did not. What they did was stay put and did what they do best: stay in their comfort zone and conduct business as usual.
Pangilinan is in a better position. He has not been identified with any political figure or party. I agree with you, he has no ‘utang na loob’ so why make threats to quit? ‘Utang na loob” is commonly utilize during pay back time. Meaning, if you did somebody a favor, it’s just fair that that somebody should do you a favor in times of need and if that somebody does not or refuses to do you a favor, that’s the time you can make threats because of ‘utang na loob’. Pangilinan has none of that. So why the rush to make threats of quitting? Guilty perhaps? And that’s the consequence of quitting too early.
I disagree. There is no actual fight yet. No need for him to take drastic action. Unlike in the case of Lucio and Danding, there is no definite issue against him, so why scram?
“Ang gulo gulo niyo” is good enough reason for people to leave if they could. If Pinoys want him and other intelligent Filipinos to stay, then make it worth their while to stay. Huwag kayong magulo. We always go where our time is best spent. The most amount of productivity balanced with the least amount of stress is where we want to be.
That is true. “Ang gulo gulo ninyo” is an acceptable reason to leave, especially if the person is irresponsible, conceited, self-centered or egotist.
Kidding aside, an ordinary person wanting to leave can use in ordinary setting the “ang gulo gulo ninyo” reason. A member of hoi polloi can even use it anytime they want to and could be cited for wisdom and foresight defending on the gravity of risk or absence of it.
But not Pangilinan.Â
When you own multiple businesses that generates millions, if not billions, of revenues you just cannot say ang gulo gulo n’yo. Â When you are running companies that employs thousands of people who’ll be out of work if you quit, you can’t say ang gulo gulo ninyo. When you are a major player in the economic environment and a responsible citizen of the Republic, you just can’t say ang gulo gulo ninyo.Â
If in spite of the above, you still quit because of ‘ang gulo gulo ninyo’ reason, you are really a jerk.
Ikaw na ang nang-gugulo.Â
@jona-s
So just because he is “rich” he should be treated differently?
I do not agree with that mindset.
You may find it as a threat but I consider that as a challenge to those in power.
Stop what you doing or I may leave. How can it not be looked at it from that perspective.
If “ang gulo gulo niyo mindset” is present in this arguement, then why can it not be viewed as Pangilinan telling them to “step up your game or I step out”.
It is not him threatening but challenging the government then to do what is due us? And not some blatant parading for the media while dragging other people in their mess?
I know we may disagree on this but I do not think his financial position should affect how he is viewed/treated.
If you want people who benefit “you” to stay with you, you give them a reason to stay and “invest” more in you. You don’t give them a “direct” reason to consider leaving your side.
He is simply in a “better” position to
make a challenge to the government compared to a regular “joe” I think.
That’s my two cents.
jona-s,
You still don’t get it, do you? Filipinos need Pangilinan more than he needs them. That’s the reality of it; no amount of calling him a jerk or insinuating what responsibility you think he has to Filipinos will change that.
He will move his businesses and money out of the Philippines simply because he can. Do you really think he has an obligation to help other Filipinos just because he’s a rich businessman? It’s only normal that he thinks of himself first, DUH?
He’s thinking like any sensible businessman would, plain and simple. The conditions are not appropriate to do business in, you leave. A political mess will ruin one’s reputation as a businessman, you pack up and go elsewhere.
Deal with it.
Your stonewalling and quibbling is frankly getting repetitive. As we say in the vernacular, dakilang mangongontra ka lang.
It’s not about the treatment of Pangilinan, it’s about how Pangilinan treat or mistreat people and government.
I do not agree with you branding his uncouth action as a “challenge”. You don’t run away when you challenged. You challenged, you advance. You challenge, you stay put. And you don’t threatened those in power. That is not wise. If you are a businessman, you don’t challenge those whom you rely for stability and protection. If you are in the business of profit, you don’t tell those in power what to do if you know what’s good for your business.
“Step up your game or I step out”? That’s a sure sign of weakness and destruction. How? If nothing happened to your threat and you stay out, your credibility will be shot. Everywhere you go, your competition can easily destroy you by fabricating issues that will force you to “step out”.
I wish Pangilinan will follow up on his threat. I would like to see him learned the hard way.
I’m sorry FallenAngel if I do not share your thinking about the action of Pangilinan. It is simply wrong. A sensible businessman should never, read that, never make threats. Threat is inconsistent with the nature of business.
Filipinos need Pangilinan more than he needs them? So, for you, it is good that he threatens them? That he mistreat them?
@jona-s
I do not agree that you should not challenge when you know an different course of action is a better option.
He is not showing blind obedience and just conforming of accepting the “realities” of the Philippines when you have a run-in with someone in power.
If he simply bowed down and did not exercise his own stand and position, then he has basically failed himself and his company.
True, there can be consequences when you go againsts repurcussions of challenging those in power (in this case, act properly) It just so happens, he has more options compared to the rest of us when it comes where he chooses to move or place his business. That in itself is not wrong.
The environment of Philippine politics is basically pushing him. Staying just because it benefits others yet destroys you is not how you run a business. You are not a charity organization and you do not take in whatever is thrown at you. You take your stand and when it comes down to it, put your foot down.
Honestly, if he does move, it is the Philippines and those in politics who think twice before dragging others in the mud as they risk destroying potential future investments and driving out existing ones.
Hope that is clear.
@jona-s
I do not believe Pangilinan threatened the Filipino. He challenged the Philippine government to shape up as they are just in it for the media miles while dragging someone else into the picture who is basically not part of their quabbles.
Is he even directly related to the case he was dragged into? I believe no. He has a business interest there but he was only connected through someone else. As such, there was an “assumed” vested interest for that person as he has supposedly something to gain as well. Yet there is no proof of this (so as I said it became a your word against mine).
If this is an issue politicians will just end up dragging people into, then basically politicians should not have friends as basically everyone of them will have a vested interest in most issues where they can stand to gain, right?
I also think his challenge (as I see it) has worked. His challenge is basically what is flying in the media now and not the issue of his supposed vested interest (counting as interference in negotiations) is not as focused on.
Sorry if it is quite long. I want to continue our discussion further on but I leave it to wait for your reply first. =)
17Sphynx17
I don’t think Pangilinan’s option is limited to  whether to challenge or not the gov’t. For one, he is not the principal character in the squabble in the Senate. He’s just a bystander in the Enrile-Trillanes run-in. Why will he take a hard stand on something he’s not even been seriously implicated, on something he is not being blamed for? Why will he threaten to take action that he knows will surely spell hardship to people and drastically affect the country? I don’t recall the likes of Lucio Tan or Danding Cojuangco or other business tycoons threatened to pack up their business and leave the country because their names were implicated in a controversy.Â
Second, granting for the sake of argument he was really offended, is leaving the only wise option for him? I don’t think so. Â Staying put and reminding the antagonists in the Enrile-Trillanes feud that he won’t take sitting down people throwing and dragging his name in the controversy is a sound step to take. No need to ‘challenge’ anybody. All he has to do is make known his plan to defend himself against unjust or malicious accusation by seeking the assistance of the court of law.Â
Lastly, he can hold his peace until such time he is seriously confronted by an actual case involving him. For all we know, the noises being made by both camps, Enrile & Trillanes, was only meant to rattle and make other people get involve in their feud for political impact. So, why bite the bait? Why oblige with their political games and agenda? Why join the political fray?
Right now, he should keep his mouth shut and ignore the noises. He should also cease talking about his plan or making threats so not to give an impression that he’s been affected by the political circus going on.Â
Correction:
It is not for you but for MVP to decide what is intelligent for him or not. Like millions of fed up Filipinos who left the country and thrived elsewhere, he has the right and capability to do it. Whether he does it or not is in the court of the Filipinos and the government they elect. All he needs to say is “ang gulo gulo niyo” and share his talents elsewhere. If after that he gets called unintelligent, insensible, insensitive, jerk, unreasonable, bad, etc, he won’t lose any sleep over it.
Was there really an issue about deciding for some one? Maybe you misunderstood the statement. Even if it’s on me to decide for MVP, do you think he will allow such a thing?
Wrong.
Those ‘millions’ of Filipinos who left and thrived elsewhere don’t have the ‘billions’ MVP have. Please don’t compare MVP to an ordinary Filipino. Don’t twist the facts just to suit your agenda.
MVP don’t have to ‘thrive’ elsewhere. No need to. In fact, he creates it. You don’t even have to say ‘he has the right and capability to do it’ because he makes it.
Problem is, he will never say that. He is an astute businessman. He’ll not be a successful one if he thinks like a loser. A sari-sari store owner may say ‘ang gulo gulo ninyo’ and leave, but not a businessman like MVP. That’s wishful thinking.
He will if they don’t stop pissing him off.
General Mills, Ford, Goodyear… astute business people who made the right choice.
Well informed people know Pangilinan is not pulling out for business reasons. He must have heard that the planet “Nibiru” is for real. Experts have predicted that the Asian continent will disappear from the face of the Earth when Nibiru enters our solar system in its 3600 years cyclic journey into the solar system.
I hope God would not reconsider obliterating this country in the face of the Earth! Filipinos is not worth it!
People like MVP only need two reasons to do anything:
1. Because he wants to
2. Because he can
People like him do not care what you call him or describe him as after he does whatever he does. It is of no consequence to him. He will thrive wherever he is.
I would like to believe you but you are not MVP. You can only speak on matters that is not personal to him.
Unless he will officially announce that you are his spokesman, I will dismiss your statement above, pronto.
You are not his spokesman either so you can’t speak for him and his decisions. I know though that men of his nature can decide without worrying about what other people think.
If you are reading my posts you’ll notice, unlike you, I’m not speaking for him or for anybody else. I speak for my self.
Irrespective of whether you know or not, you are still guessing by assuming from somebody whom you don’t know personally.
Pangilinan operates a business, not a charitable organization. I’m rooting for him to actually do it.
Me too. Hopefully he does it so the Flips will learn a lesson.
@jona-s
try mo muna kase magnegosyo bago ka magsalita. Business exist for them to do business and get income para may makain sila sa mga bahay nila. Be it small time or big time businesses, the very reason of its existence will remain the same.
Remember na malaking pera ang pinag-uusapan dito. You do not invest in a slow ROI business.
You think MVP would leave his harem of BOYS?