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WHICH is
a better alternative?
On one
hand, there’s the Greenpeace Internet-based initiative
asking environmentalists to write Metropolitan Bank and
Trust Co. to stop power subsidiary, Panay Power Corp.,
from using coal. Greenpeace even provides a uniform
letter, addressed to nobody in particular at Metrobank,
with a just “Dear Metrobank” as salutation.
On the
other hand, there’s Panay Power Corp., which produces
power by using bunker fuel (not coal) for distribution
by the Cacho family-controlled Panay Electric Co. Panay
Power produces power not just for Iloilo City but for
Boracay as well.
And then
there are, of course, expansion plans. A newer plant,
which will more than double the older one bought from
Mirant Philippines, will utilize “clean coal.” The
investment involved follows the industry standard of
$1,000 for every megawatt.
The
“clean coal” plant will use a technology provided by
Formosa Heavy Industries, whose plants are deliberately
painted white to show how clean the coal is. According
to Forbes magazine, the assets of Formosa’s 91-year-old
patriarch is worth about $6 billion, while the assets of
just one daughter is valued at $3 billion.
Panay
Power is a subsidiary of Global Business Power Corp.,
which is part of the Metrobank Group controlled by
George S.K. Ty. Another subsidiary generates power for
Toledo City in Cebu. Incidentally, Ty has recently
approved the design for a very pretty chapel, which the
Metrobank Group intends to give to the citizens of
Toledo.
****
DID you
know 1:
There’s a special legislation awaiting the signature of
US President Bush that exempts working visas issued for
the $10-billion to $15-billion Guam military relocation
program from the national quota on all H visas until
2014.
Said
another way, Filipinos (read: between 20,000 and 30,000
with a starting monthly pay of $750) will be issued
“Guam-only” working visas starting 2009, which cannot be
used to travel to Hawaii and to the US mainland.
DID you
know 2:
Makati Mayor Jejomar Binay must be a poster boy of the
Department of Environment and Natural Resources. At the
very least, Jojo Binay has made a lot of money for
emission testing centers all over Metro Manila very
happy, indeed.
You see,
Makati considers emission testing certificates issued to
private car owners valid for only two months—much
shorter than the one-year validity accepted by the
Department of Transportation and Communications, which
controls the Land Transportation Office.
As a
result, the boys of Jojo Binay stationed along P. Ocampo
Avenue (formerly Buendia near the railroad track) can
rightfully confiscate your car license plate if your
emission testing certificate is older than two months
and if, of course, your car is, well, deemed to be a
smoke belcher. Oh yes, getting back your car license
plate will set you back by P1,000—with the corresponding
official receipt, of course.
****
Here’s
an interesting book called Extraordinary: Stories for
Aspiring Leaders, edited by Victor Magdaraog and
Nikki Katherine Dy-Liacco. A project of the Management
Association of the Philippines, the book is divided into
seven chapters/learnings:
• inspiring confidence and belief in the
future
• a passion for results
• managing in uncertain times
• marked by unwavering integrity
• strong, not big egos
• courage to make tough decisions
• setting others up for success
Interviewed for the book were 51 business leaders, 29 of
whom were “Management Man of the Year” awardees (read:
yes, yes, there has never been a woman awardee).
Of the
interviewees, only one—Ayala Corp. chairman Jaime
Augusto Zobel de Ayala (JAZA) II—initially demurred,
saying he was “not worthy.” JAZA, of course, finally
gave in. Oh yes, JAZA was also the only one in the group
who started at the top.
Two of
the interviewees had since died. These were former
Energy Secretary Geronimo Velasco and former Bangko
Sentral ng Pilipinas Governor Rafael Buenaventura.
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