Pacific Plans
Posted by: Yvonne Chua | April 21, 2005 at 8:51 am
Filed under: Online Research
DISENFRANCHISED planholders of Pacific Plans have formed a coalition to protest the pre-need firm’s rehabilitation plan and are turning to the blogosphere — “Pacific Plans: Broken Dreams” — to network with each other and air their grievances. One of their laments: “The Media has not covered this matter with the same zeal and frequency as they did with CAP which had a similar problem, albeit without any legal court order. Why?”
The planholders fear the odds are stacked against them. The biggest one, they say, is the closeness of the Yuchengco family to President Arroyo. The blog posts the President’s speech at the inauguration of the Yuchengco’s RCBC Plaza on Feb. 5, 2001 in which she acknowledges the support of the patriarch, Ambassador Alfonso Yuchengco, to her at EDSA 2. Just how close the Yuchengcos are to Mrs. Arroyo? The President calls Yuchengco “Uncle Al” and describes his daughters as “my dear friends.” Yuchengco, who serves as Mrs. Arroyo’s special envoy to China, Japan and Korea, also happened to host her mother’s — the late Eva Macapagal — last birthday in Japan.
For those who wish to meet the bloggers and other unhappy planholders in the flesh, an organizational meeting for planholders is scheduled at the St. Paul College in Pasig on April 23 at 8 a.m.
Note: Pacific Plans’ website is under construction. So don’t bother to visit it.
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The PPI website is now running and seems designed to simply address the current issues they are facing.
Meanwhile, it seems that this huge problem did not elicit real and honest coverage by the media, which is detrimental both to the company and the plan holders. Everyone must realize that the death of PPI will not benefit the plan holders.
Is there a government agency investigating this matter? Has anyone obtained copies of their financial statements/public disclosures, and studied them for possibility of the company officer’s misdeeds (if there are)?
Rather than waste time on analyzing Mr. Yuchengco’s friendship with Pres. Arroyo, I am sure there are a lot more affected planholders that are asking the right questions but not given proper media attention.