A very good question indeed:

August 21, 2006 at 3:26 pm Leave a comment

So far this line in Dan’s Column asks the best question on the oil spill mess in Guimaras I’ve seen so far.

[] ” … Why has Petron, which is jointly owned by the Philippine government and Saudi Aramco, contracted obsolete, single-hull tankers to ferry oil products from island to island? Answering that question will require looking into who approves multimillion-peso tanker contracts. There is talk in industry circles of kickbacks and “syndicates,” which not only allow vessels of questionable seaworthiness to service Petron but also engage in other criminal activities such as pilferage, hijacking and smuggling ?” … []

Oil spill traced …

It is the storngest possible language I’ve heard, read, or seen in printed form about the issues and hits all the right points.

question that deserves to be looked into: In other nations a corporate internal inquiry would be held- stockholders would demand restitution and heads to roll for alleged incompetence. I wonder if those foreign stakeholders will allow this kind of activity to continue – that Dan speaks about?

In the end perhaps its time considering not one but several of these events have happened considering that a publicly held corporation is just that public- disclose is the nest stage of the game if the SEC probes to seek the whys and wherefores on behalf of the investors and not the hired executives and managers whose decisions indeed need to be looked at in the greater public interest.

Now… about other corporations?


Entry filed under: Arroyo, asia, Dubai, Filipino, filipino-american, free speech, Global Warming, health, Makati, news, News and politics, OFW, Palawan, philippines, Pinoy, protests, Rants, Raves, Whathaveyou..., Uncategorized, Views.

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