Jul 28, 2011

Learn More About Treasury Bills & Bonds

Retail Treasury Bills (TB), among all investments, is practically risk-free because these are obligations of the government. The good news is that Retail TB in 5000 pesos denominations are now available and Colayco Foundation for Education’s (CFE) can teach you more about it. Investments should be diversified as best possible according to your particular risk [...]
Source Article:
http://www.colaycofoundation1.com/learn-more-about-treasury-bills-bonds/

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Jul 22, 2011

JANE SUMANG GACURA New VMobile member

 


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KFC branch in Muntinlupa ordered closed for using banned plastic ware

MANILA, Philippines–The Muntinlupa City government ordered on Thursday the closure of a KFC restaurant after inspectors caught the establishment violating an ordinance prohibiting the use of plastic ware.

According to Omar Acosta, the city’s public information officer, the KFC branch at South Station in Alabang was the fourth establishment to be shut down by the Business Permits and Licensing Office.

The closure order was based on the recommendation of the Environment and Sanitation Center, which implements Ordinance 10-109 prohibiting the use of plastics and polystyrene packaging materials.

Acosta said the store was found to be using plastic bags as packaging.

“This was the third time the store was found to be violating the ordinance,” Acosta said. “It was issued tickets for violation in January, February and last July 19.”

He added that that the city government has the option to file criminal charges in court against the owner of the establishment.

The ordinance, touted as the first of its kind in Metro Manila, was passed into law by the city council last year following the devastating effects wrought by floods due to tropical storm “Ondoy” in 2009.

City officials cited Muntinlupa’s landmark ban on plastics and polyestrene containers as among the factors that kept the city free from flooding during recent heavy rains.

By Tina G. Santos
Philippine Daily Inquirer
5:36 pm | Thursday, July 21st, 2011

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Ten Commandments

for An Enthusiastic Broadcast/Photo Journalism Staff
#1Help each other be right--not wrong.
#2 Look for ways to make new ideas work-not for reasons why they won't
#3 If in doubt--check it out! Don't make negative assumptions about each other.
#4Help each other succeed and take pride in each other's accomplishments.
#5Speak positively about each other and about "Our Staff" at every opportunity.
#6Maintain a positive mental attitude no matter what the circumstances.
#7Act with initiative and courage as if it all depends on you.
#8Do everything with enthusiasm--it's contagious.
#9What ever you want--give it away.
#10Don't lose faith--never give up.


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Suspended Caloocan mayor fails to secure TRO from court

MANILA, Philippines–Caloocan City Mayor Enrico Echiverri has so far failed to secure a temporary restraining order that would put a hold on the implementation of the suspension order served against him by the Office of the Ombudsman.

The Court of Appeals failed to act on Echiverri’s petition after Associate Justice Fernanda Lampas-Peralta, one of the justices handling the plea, inhibited herself from the case. Peralta had reasoned that she and her family are residents of Caloocan.

The case was raffled to another justice in the person of Associate Justice Rebecca De Guia-Salvador.

Early this week, Echiverri went to the Court of Appeals asking it to stop the Office of the Ombudsman and the Department of the Interior and Local Government (DILG) from implementing the six-month preventive suspension order imposed on him.

In his petition, Echiverri said acting Ombudsman Orlando Casimiro committed grave abuse of discretion amounting to lack or excess of jurisdiction when he ordered his suspension from office amid allegation of non-remittance of more than P38-million Caloocan City hall employees’ contribution to the Government Service Insurance System (GSIS).

Echiverri questioned the date of the order of suspension, which was July 17, 2011, which falls on a Sunday. The Office of the Ombudsman holds office from Monday to Friday only.

Echiverri added that he should not take the blame for the faults committed by his predecessors.

Aside from Echiverrri, also ordered placed under preventive suspension were City Treasurer Evelina M. Garma, City Budget Officer Jesusa Garcia, and City Accountant Edna Centeno.

The preventive suspension stemmed from the complaint filed by Caloocan Vice-Mayor Edgar R. Erice, which alleged that from July 1997 to December 2002 and from January 2007 to Dec. 31, 2010, the premium contributions comprising the personal shares of the employees and Caloocan government shares were not remitted to the GSIS and remained unpaid as of Dec. 31, 2010. Additionally, the employees’ compensation shares from July 1997 to December 2004 and from January 2007 to December 2010 were not remitted to the GSIS. These allegations were confirmed by Robert G. Vergara, president and general manager of the GSIS.

GSIS records show that the total obligation of Caloocan City as of Dec. 31, 2010, amounted to P343,814,739.85 representing principal and interest for the unpaid compulsory premiums.

Allegations were also raised that despite being informed of the unpaid GSIS obligations, Echiverri, together with Garma and Garcia, refused to take action on the matter. Due to this inaction, Erice made a formal demand to Echiverri, Garma and Centeno for the remittance of the personal shares of the employees amounting to P38,042,916.12, the same already deducted from the salaries of the employees of Caloocan City.

Casimiro said the Caloocan officials were suspended because their continued presence could be prejudicial to the investigation being conducted by their office. By Tetch Torres INQUIRER.net
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Willie Revillame, senators donate cash, vehicles for bishops

MANILA, Philippines – Moved by the plight of some bishops, TV host Willie Revillame and other prominent personalities have pooled their resources to raise money for the purchase of utility vehicles to be used in dioceses situated in far-flung and impoverished areas in the country.

Revillame himself donated P100,000 cash on top of a Foton 15-seater van and another Foton pickup, according to lawyer Romulo Macalintal, who is leading a fund-raising campaign for poor dioceses.

Macalintal launched the project following the media scandal triggered by the Philippine Charity Sweepstakes Office’s erroneous accusation that seven Catholic bishops had received Mitsubishi Pajeros from the agency and had allegedly been using the vehicles for personal service.

The lawyer, a devout Catholic, was incensed by the PCSO exposé, especially after it turned out that no Pajeros had been given away. Save for one bishop whose diocese received money used to purchase a Montero 4×4 SUV, other dioceses got either pickups or vans.

One diocese used a PCSO cash donation to buy a 10-year-old, second-hand Nissan pickup for P280,000. Another diocese utilized a vehicle for its program against human trafficking.

“It’s not the amount you donate but the unity of all of us and respect and support for our priests and Church that matter most,” Macalintal told the Philippine Daily Inquirer in a text message Thursday.

As of posting time, Macalintal said the campaign had raised P1.8 million cash, excluding combined pledges amounting to P300,000. A bulk of the donations came from politicians and businessmen, but Macalintal said credit should also go to ordinary Catholics.

“Everyone is a fund-raiser,” said Macalintal, who coursed cash donations through BPI Family Bank [Pamplona Tres-Las Pinas branch] using account name “Pondo ng Nagkakaisang Simbahang Katoliko” with account number 5623-5296-83.

“Even the seller of ‘sampaguita’ and ‘abaniko’ at Plaza Miranda are fund-raisers. We merely facilitate and keep the fund in trust on behalf on behalf of those who shared,” he added.

Senators Vicente Sotto III and Francis Escudero donated P200,000 and P100,000 cash respectively. Senator Ramon Revilla Jr. and his wife, Cavite Rep. Lani Mercado, also shelled out P200,000.

An unexpected donor was the eldest son of ex-President Gloria Macapagal-Arroyo, partylist Representative Juan Miguel Arroyo, who gave P50,000 cash.

Macalintal, who had served as the elder Arroyo’s election lawyer, said he was “sad and disheartened” that the donation triggered “negative reactions from some Catholic priests.”

“In my 27 years of service in the Ministry of Liturgy in the Catholic Church, I have been taught by our priests and the Bible not to be judgmental, which, obviously, is expected of a priest,” he said,

“I could only recall how Jesus was persecuted when He worked in the Sabbath Day and how He was questioned on why He ate or took meals with Levi or Matthew, the tax collector and other sinners.”

By Christian V. Esguerra
Philippine Daily Inquirer
5:45 pm | Thursday, July 21st, 2011

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Solons deny getting STL funds, demand apology from PCSO

 Several representatives whose names were on the Philippine Charity Sweepstakes Office’s list of recipients of small-town lottery (STL) largesse on Thursday denied having received any money. Instead, they demanded a public apology from PCSO officials.

In all, 54 congressmen were tagged by the PCSO on Wednesday as having received 2.5 percent from the proceeds of the Small Town Lottery (STL) in their districts.

Deputy Speaker Lorenzo Tañada III called his inclusion on the list malicious and welcomed the call for an investigation made by Speaker Feliciano Belmonte Jr.

“May I ask what is the basis for the inclusion of the names of certain congressmen who were identified to have received something from STL?” Tañada said.

Tañada described as unfair PCSO Director Aleta Tolentino’s statement that STL operators directly remitted to the congressmen the latter’s share of STL proceeds.

“If certain districts have STL operations, is it automatically presumed that their congressmen have been allotted and have received proceeds even without proof of receipt?” he asked.

Belmonte himself denied receiving a cut from STL, saying that he banned STL in Quezon City when he was mayor.

The government put up STL to kill the illegal numbers game “jueteng” and profit from the huge amount of money bettors plunk down for a shot at hundreds of pesos in winnings.

Tañada said that while STL was legal, there should be a paper trail to determine who actually received a share of its proceeds.

“I earnestly seek to have my name cleared from this controversy,” he said.

Camarines Sur Rep. Arnulfo Fuentebella also denied receiving any money from STL and showed the media a copy of his letter to then PCSO Vice Chair and General Manager Rosario Uriarte dated Aug. 13, 2010, declining any proceeds from STL and returning the five checks totaling P18,116.05 the PCSO had sent to his office.

“I regret to inform you that I cannot accept them,” he had told Uriarte.

Isabela Rep. Rodolfo Albano said the PCSO erred in listing him as an STL beneficiary.

“To include my name in the list of congressmen who allegedly received so-called commissions is the height of irresponsibility,” Albano said.

Albano demanded a public apology from PCSO officials not just for himself but all the congressmen who were dragged into the mess that, he said, was of PCSO’s making.

Majority Leader and Mandaluyong Rep. Neptali Gonzales II also denied receiving STL funds.

But Minority Leader Edcel Lagman recalled having received in 2008 or 2009 at least two checks for small amounts that he said he did not cash.

“I did not solicit or demand any cash or check from the PCSO or any operator in connection with STL in the first district of Albay,” Lagman said. “I have not cashed the checks and I do not recall having deposited them.”

Cavite Rep. Joseph Emilio Abaya admitted receiving a check for P5,000 but said he also did not cash it.

But in an apparent attempt to make amends, the PCSO on Thursday explained that there was nothing illegal about House members receiving STL funds.

The PCSO board made the clarification following media reports (not in the Inquirer) “that have placed congressmen who received their share from STL in a bad light.”

“The PCSO wishes to make clear that there is nothing illegal about congressional representatives receiving funds from the STL program, contrary to some media reports… We are prepared to clear their names in the media or in any public forum,” said a statement issued by the PCSO board.

During a Senate blue ribbon committee hearing last Monday, PCSO officials said lawmakers receive 2.5 percent of the monthly net earnings of STL outlets in their districts.

The proceeds are given in cash and the legislators are not required to liquidate the funds, meaning they do not have to say where the money went.

The PCSO explained that STL’s implementing rules and regulations (IRR) allow for the disbursement of funds to congressmen requesting financial aid for their constituents.

“The IRR was adopted by previous PCSO boards in furtherance of the charity office’s goal of expanding its services to destitute patients and poor Filipinos needing medical care,” the officials said.

By Cynthia D. Balana, Tina G. Santos
Philippine Daily Inquirer
3:51 am | Friday, July 22nd, 2011

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