the gma-monsod-lopez connect

priceless this reply of manolo quezon to a comment on his blog that the lopezes of abs-cbn, which network put out the news that “noli is set to assume presidency,” seem to have a score to settle with the macapagals.

i actually think the lopezes are being extra prudent, because gma has them by the balls over meralco. ever wonder why christian monsod is so ardently pushing the keep her until 2010 movement?”

it’s like asking, ever wonder why solita a.k.a. mareng winnie monsod is so ardently saying no to gma’s ouster?

googled “christian monsod and meralco” and, yes, he’s been board director since december 1998. and i found this tribune column by herman tiu laurel “National calamity: GMA & Meralco” dated august 2007, posted in magdalo sa pagbabago.

…Meralco rates should be reduced by up to 50% to bring it in line with the average in Asian power rates. One issue is the “incremental cost of capital” Meralco uses to massively cheat 4.2-M captive consumers – constantly escalating equipment costs to inflate its capital investment that never increased at all.

“To perpetualize this fraud Meralco induces top legislators, regulators and court judges to justify its system and jack up allowable profit from 5% decades ago to the present 15.4% … A previous Meralco sequestration was due to Meralco’s accounting practice that swindles government and the public. The Lopezescontaminate everything, even religion: “donating” land to the Jesuits’ Ateneo (brainwash its students) paid for by Meralco consumers – the Ateneo, Rockwell law school and new Ateneo medical school land beside Medical City on Ortigas Ave.

“The media too: ask Meralco director Christian Monsod’s wife at the Inquirer who’s so pro-Edsa Dos, that event that brought the IPP-PPA bonanza to the Lopezes. Ask 90% of radio and print commentarists who defend or keeping silent about Meralco abuses. On the courts, see the Philippine First Holdings Corporation website: “Former SC Chief Justice Panganiban as new director Mr. Angel Ong has resigned.” Readers may ask what’s wrong with this? I suggest – go to the December 2006 newspaper items about a certain “midnight decision” at the Supreme Court.

“Every discussion on electricity rates threatens to drown the layman in a sea of confusing figures, rule and regulation. The public must ask Gloria, her legislators, regulators and business cohorts the simplest question: “Why is the Philippines’ power rates the highest in Asia since afer Edsa Dos until today, and getting worse. What are you doing to bring the Philippines’ power rates to the reasonable and average rate prevalent in Asia – to keep our industries and our standard of living competitive and comparable to the rest?”

“It is not the Filipino people’s obligation, nor electricity consumers, to suffer for the benefit of Gloria and the power companies. Gloria’s SONA obviously recognizes the electric power rates problem as a major one, thus she spoke of “amending” the EPIRA’s on “open access”- but treating it as a legislative issue is intended to exhaust the last two minutes with a long dribble. It will just allow continuation of Meralco and its stockholders 4,000% earnings in fifteen years using only its consumers’ monthly payments – blood, sweat and tears – for exorbitant power rates.

“In 2001 the Lopezes, with other oligarchs, launched Gloria’s coup against an elected president. Seven years of socio-economic-political calamity followed as privatization concentrated political power in the profit-seeking elite. Gloria, the Lopezes and Meralco are emblematic of the sources of our nation’s seven years of calamity since Edsa Dos: systematic abuse of our people for unappeasable, insatiable, ravenous, criminal profit at the people’s expense. Our solution? Emergency “people power” through a consumers’ cooperative, returning control of Meralco to the people.”

so really gma and the lopezes are oligarchs-in-cahoots. gma owes the lopezes bigtime for anc’s part in edsa dos. the lopezes owe gma bigtime for privatizing and deregulating the energy industry. but manolo’s “gma has them by the balls over meralco” tells us that gma has the upper hand, she has the power to compel meralco, for the good of the whole, to bring down electricity rates or else.

but now that gma’s in trouble over nbn-zte-fg, the lopezes must be in a tizzy. what to do? in case she manages to hold on till 2010, it would be wise of the lopezes to hold off on joining the oust-gma bandwagon. but in case she doesn’t manage to hold on, it would be wise of them to be lobbying for noli de castro behind the scenes (as maybe they are), di ba, since he, too, owes abs-cbn bigtime.

no wonder anc is so clearly neither here nor there. or should i say, no wonder anc is so clearly here, and there.