Thursday, August 14, 2003

Eight Vans for your FYI

Dear Mouse, It did not only disturb me, it pissed me off no end reading Trillanes' responses that are insulting even to ordinary Filipinos who know how to count without the aid of a calculator. Eight luxury cars, each with a value of more than millions of pesos for rent a car business. heh I am disappointed to observe that the man they claimed to be brilliant does not make sense in trying to ward off incriminating questions. 1. He claimed that he was just the Treasurer of the research firm but his investment exposure to the business is merely PhP 12,500. Why would a corporation designate the treasury function to a stockholder whose exposure risk is very minimal/ 2. He said he resigned from being treasurer because he could not work full time. Baloney..big one. The position of the Treasurer in a board of newly incorporated firm does not tie down the Treasurer to a 9-5 desk job. The most that he will do is to sit in a board meeting and discuss the financial strategy of the corporation. Baka naman cashier ang ibig niyang sabihin? 3. when he was asked about the FYI offer of survey to Reyes, he claimed he knew nothing about that because he is only in charge of research design. holy cow browncow.. my mouse. He gave up the position of the Treasurer because he could not afford to work full time. Research design, my dear four footed friend is more time and effort demanding. 4. About the vans a. he said that the vans belong to his mother who bought the vans from FYI thru the loans that she borrowed in year 2000. The FYI research firm was incorporated in July 2002. The mother must have foresight to borrow money in 2000 put the money in the bank, paid the interest and waited for the incorporation of the FYI in 2002 ; for the vans to be bought ? and later on made available for sale, underutilized. b. why do they need eight luxury vans for a research start up business? It is not a car rental business. A research business proposal quotes a fixed sum for a contract plus plus out of pocket costs. These are inclusive of transportation costs that will be needed to distribute questionnaire. The luxury vans, if originally owned by the FYI, must have been valued for investment purposes. They could not have been bought from the revenues of the research firm not unless, they already generated millions in revenues in the their first year of operation. If the eight vans are owned by the FYI, then they are assets of the firm. The FYI therefore has millions for initial paid up-capital. How many investors are there?. How come the stockholders allowed the mother of Trillanes only to buy the vans. How many vans do the firm own that with the sale of eight vans, how many still remained that can be used in the operation of the business ? If the FYI business is not making money, it is because, it is not meant to earn but to give these people alibi for their unexplained wealth. The CAT


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