Mayor Osmena exposed about GSIS lost billions of pesos by investing thru Lehman Broth

[higanstolsdawen]

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mas makaluluoy ng mga pensioners, wala nay laing gesaligan kung dili ilang binuwan nga madawat sa GSIS. kadaghanan ana mga masakiton na, kanang ilang mga pension budget intawn na sa ilang mga tambal.

[peewee_toot]

^^hope justice will be served bro. ang Ginoo lang ang bahala ana nila...

[giddyboy]

let's put it this way para di ka maka-ingon nga di objective ang mga anti-garcia diri, the 600M lalisonon pa na but the CICC, Balili lot, CSBT, etc. maka-judge na gyud ang mga tawo directly.

so you really can't blame them for feeling that way.

u mean nka judge na gyud directly and negatively ang mga tawo basta isyu bahin ni Garcia but not kung c Tomas?

Sorry but I don't think so...anyways, that's not what this topic is all about. This topic is about the allegation that GSIS bought shares at Lehman Bros. I am simply saying, from what I knew, that it is not true.

And about that 600M, bsan wala pana na materialize but the mere fact gi annouce ni Tomas ang 600-M already leaves a bad taste in the mouth. People also judged it directly u know.

u still don't get it do you?

The Cebu City Gov't is cash-strapped as a consequence of its pursuing the SRP. A big chunk of the city’s budget goes to amortization for its huge loan w/ a foreign bank such that basic services have been affected. Yet, Mayor Osmeña can still afford to dangle P600 million to the barangay captains of the city’s south district just to bolster his candidacy for congressman.

I don't even think that's moral and decent. I don’t even think morality or decency is in his vocabulary. In case you didn't know, even if all the money is spent w/o kickbacks, using City Hall funds to shore up his candidacy already has legal and moral implications.

The city mayor speaks out even if what he says has legal implications. This is because he thinks no one will go after him. Sorry to say this but in my own opinion, he doesn't care who gets hurt or whether he oversteps the law, public morals or gov't policy. He gets what he wants.

anyways, back to the topic, why include all the alleged sins of Gwen Garcia when we are talking about GSIS allegedly buying Lehman Bros shares? Is this a glittering generality propaganda?

Just so add another topic para labhan ang Garcias? Bsan tanawn pa ang thread title, gihimo na ug guilty ang tawo. The Big Lie approach...Don't get me wrong. I am just seeing it as it is...in fact, what Tomas said about GSIS-Lehman cannot even be considered a fact. It is plain GOSSIP.

[peewee_toot]

naa mn mga issues c tomas and ang mga garcia....

but the question is, kinsay harap2xan nga nangurakot? kanang obvious jud kaayo ba...

[giddyboy]

naa mn mga issues c tomas and ang mga garcia....

but the question is, kinsay harap2xan nga nangurakot? kanang obvious jud kaayo ba...

depends on what you believe. If you believe harap harapan nangurakot sa CICC ug Balili lots, then it is your call.

If you believe harap harapan nangurakot sa towing, SRP ug FLI deal, same thing.

It's all about belief. Politics is a game of influencing belief.

Even about the lamp post controversy, you can believe if Radaza is guilty or not. Some people don't believe he's guilty so they voted for him again to office...even if verifiable facts on the case are zeroing in on him.

now back to the topic, whom are you gonna believe in? Tomas saying GSIS invested in Lehman brothers or otherwise?

[gikapoy]

ang pag palit ug hunasan claro kaayo nga corruption

[ABORLAN]

u mean nka judge na gyud directly and negatively ang mga tawo basta isyu bahin ni Garcia but not kung c Tomas?

Sorry but I don't think so...anyways, that's not what this topic is all about. This topic is about the allegation that GSIS bought shares at Lehman Bros. I am simply saying, from what I knew, that it is not true.

And about that 600M, bsan wala pana na materialize but the mere fact gi annouce ni Tomas ang 600-M already leaves a bad taste in the mouth. People also judged it directly u know.

u still don't get it do you?

The Cebu City Gov't is cash-strapped as a consequence of its pursuing the SRP. A big chunk of the city’s budget goes to amortization for its huge loan w/ a foreign bank such that basic services have been affected. Yet, Mayor Osmeña can still afford to dangle P600 million to the barangay captains of the city’s south district just to bolster his candidacy for congressman.

.

mao ni tubag sa imo allegation nga perti ka babag sa imong amo sa mga project sa SRP arun lang dili kabayad ang city sa utang pero kaluoy sa ginoo wala gyud nilampos.

nahibong ko sa comelec pag adto nako nga daghan mga tigulang nagparihestro kay nag apas sila sa 2,000 nga ihatag sa cityhall kada christmas starting this year basta registered voters ka sa cebu city. gipareha na sad ni tomas sa makati. mao may nahutdan ug kwarta?

CH sees brighter SRP prospects in 2010

CEBU City officials see brighter prospects for the city this year, with another sale at the South Road Properties (SRP) and other development projects that will give the City financial stability.
Aside from additional revenues from ongoing construction projects across the city, leaders are optimistic that these projects can create additional employment opportunities in 2010.

Filinvest Land Inc. (FLI) will break ground in the first quarter of this year, while SM Prime Holdings Inc. will start construction immediately after the sale contract for a 30-hectare land is awarded to them.
Joel Mari Yu, managing director of the Cebu Investment Promotions Center (CIPC), said they also see a significant increase in the price of SRP lots once the two developers start construction.
The year 2009 ended with only one sale contract closed—the 50-hectare area sold to FLI.
When the deal with SM Prime is closed, Yu said the City’s income from FLI and SM will be more than enough to cover the City’s loan obligations for the reclaimed properties.

Next month, FLI is scheduled to pay P269.5 million to the City for its second payment for the 10.6 hectares of land it bought, while the City stands to earn some P675 million as down payment from SM Prime if the sale for the 30 hectares is closed.
City Hall is expected to pay P694 million to the Land Bank of the Philippines for its loan amortization this year, according to records of the SRP Management Office.
“Once we close the deal with SM, they will immediately pay close to P700 million as down payment. Like Filinvest, they will pay the balance within six years. The amount that will come in starting in 2010 will be more than enough to pay the City’s annual loan obligations,” said Yu.
If no one challenges SM Prime’s unsolicited proposal to buy and develop a 30-hectare portion of the SRP, the City will award the contract in mid-January.
Time out
SM intends to invest P20 billion at the SRP. The project is expected to create jobs for 3,000 workers.
After the SM deal is closed, the City will put on hold pending proposals from other buyers so it can maximize sales when the cost of the lots goes up.
“We will see a significant increase of the value of the SRP lots, so we’re not going to sell any more property after SM.
Once people see that Filinvest and SM are really starting to build, the price of the lots will increase,” Yu told Sun.Star Cebu.
CIPC, the marketing arm of the SRP, also projects continuous growth for the services and tourism industries.
Vice Mayor Michael Rama also believes that Cebu City will continue to be an attraction, not only for investors, but also for tourists.
He said yesterday that with the ongoing construction of high-rise buildings and other development projects across the city, “the people can expect Cebu City to be financially stable” this year.

I don't even think that's moral and decent. I don’t even think morality or decency is in his vocabulary. In case you didn't know, even if all the money is spent w/o kickbacks, using City Hall funds to shore up his candidacy already has legal and moral implications.

The city mayor speaks out even if what he says has legal implications. This is because he thinks no one will go after him. Sorry to say this but in my own opinion, he doesn't care who gets hurt or whether he oversteps the law, public morals or gov't policy. He gets what he wants.

.

ikaw ra gyud nag question sa gibuhat ni tomas ug ang mga taga garcia.

anyways, back to the topic, why include all the alleged sins of Gwen Garcia when we are talking about GSIS allegedly buying Lehman Bros shares? Is this a glittering generality propaganda?

Just so add another topic para labhan ang Garcias? Bsan tanawn pa ang thread title, gihimo na ug guilty ang tawo. The Big Lie approach...Don't get me wrong. I am just seeing it as it is...in fact, what Tomas said about GSIS-Lehman cannot even be considered a fact. It is plain GOSSIP.

dili mana propaganda kay na experience mana sa atong mga maestra nga wa na kadawat sa ilang pension.

[cmac]

sigh...wla gyuy nakuha na investors ang mga Garcia with the same caliber Tomas was able to acquire.

[LytSlpr]

sigh...wla gyuy nakuha na investors ang mga Garcia with the same caliber Tomas was able to acquire.

i have to agree with this.

the JV deals of capitol cannot be considered direct investors, resulta ra na sa "multiplier effect"

[LytSlpr]

Even about the lamp post controversy, you can believe if Radaza is guilty or not. Some people don't believe he's guilty so they voted for him again to office...even if verifiable facts on the case are zeroing in on him.

this logic is not necessarily true. does that mean that if Gwen will be governor again, majority of her constituents LIKE her & VOTED for her? I don't think so... That's the "beauty" of Philippine politics, it can be manipulated, so that doesn't mean that who won the elections DESERVE it or won fair and square or BOTH.

in other countries your logic stands BUT NEVER in the Philippines.