Anyone with a bit of passion and an internet connection can force change. I have been begging anyone to act in the Philippines but because my connection to the Philippines was through the all powerful PLDT Chairman Pangilinan whom I embarrased by showing that he is either grossly incompetent or negligent which is not the first time he has received that criticism, as Marathon Asset Management attempted to oust Pangilinan as CEO & Managing Director of First Pacific Company Limited in 2007 owning more than 5% of the Hang Seng listed shares.
I used Manuel Pangilinan's ego and Corporate Governance lies to the U.S. Securities & Exchange Commission, New York Stock Exchange and Philippine Stock Exchange public information with some inside personality based knowledge, regarding First Pacific Company Limited's (HKEx: 0142) (OTC: FPAFY) 98% Philippine subsidiary Metro Pacific Investments (PSE: MPI) and Metro Pacific Corporation (PSE: MPC) worth more than US$15 billion in assets (counting the recent Meralco 10.8% option held by First Pacific/Metro Pacific.
Why do I believe that Manuel Pangilinan and his Boards are grossly negligent as well as external independent auditor Ernst & Young of both the Philippines and Hong Kong and to PriceWatehouseCoopers Philippines whom were independent external auditors of Metro Pacific Corporation (PSE: MPC) from at least 2001- mid 2003, because of their inability to run a US$10.00 credit check and publish their findings to investors as required by Philippine and U.S. laws.
Ernst & Young Hong Kong even with a 2006 reorganization of both the "PLDT Group" and "First Pacific Parties" failed to run a simple US$10.00 credit check on Metro Pacific's longtime Vice President & Corporate Governance Compliance Officer David Nugent (David Nugent challenged claims that he was financially insolvent and committed multiple counts of fraud, that would affect Manuel Pangilinan and the entire First Pacific board (similar to the PLDT board).
Mr. Nugent still lives in his luxurious compound in Bel-Air Village, Makati City, Philippines with household staff, a butler and chaffeur/bodyguard.
David S. C. Nugent, a 39 year old, college dropout, in significant debt was probably not the perfect choice to promote from Vice President of Media & Corporate Affairs to the added title of Corporate Governance Compliance Officer of Metro Pacific Corporation (PSE: MPC) with a 14.5% float on the Philippine Stock Exchange and then after 2006 Metro Pacific Investments Corporation (PSE: MPI) reorganization and infusion of capital by First Pacific Company Limited (HKEx: 0142) (OTC: FPAFY) which was founded with money from known leading crony of the late New Order President Suharto, Soedono Salim aka Liem investor, whom took ill-gotten Indonesian Treasury money, which like the Philippines is now a democracy controlled by the rich whom steal from the poor aand middle class through taxation without representation.
In the Philippines, which had more exposure to the U.S. Navy and U.S. Air Force, as they were an occupying force according to Philippine mainstream newspapers, thus when the people of the Philippines fail to take action they can blame people like David Scott C. Nugent's father whom was an enlisted sailor, and not a flag officer like he wants many to believe.
This is not personal and while I am also a creditor of Mr. Nugent, the reason I started this blog was due to Manuel Pangilinan whom I met in 2003, while in the Philippines (I lived in Southeast Asia from 2003-2004).
Had Mr. Pangilinan named Mr. Nugent to be deputy chief of staff or a non-financial job and had I not found out that Mr. Nugent whom I have known since 1994, but not really known since 2006, after I pulled his credit report as his "agent" and creditor. Mr. Nugent is an incredibly good storyteller and reminds everyone I know whom have met him of Andrew Cunanan, in both the way he treats people and how he twists or lies so convincingly, gathering information so Mr. Nugent can then use the person's life against them in an abusive way, and use fear of being alone, to entrap young college students and the Associate Publisher of media giant ABS-CBN Publishing, whose mother may run for her husband's Congressional seat in the Philippines. Both this publisher's father and brother are Philippine Congressman with his father, formerly longtime Philippine Speaker of the House of Representatives.
I mention this only because I appealed to this person first and as the international Vice Chairman of the ruling party of the Philippines, one would hope that the person, believes in the rule of law over personal connections to con man and corporate, Philippine citizenship (2001-2003 before R.A. 9225 per the 1987 Philippine Constitution "Chan Robles Library," which in accordance to the Philippine Department of Justice, "anyone whom misrepresents themselves or commits fraud shall not be eligibe for reacquisition of Philippine citizenship").
This is another reason why First Pacific/Metro Pacific/PLDT officers illegally removed all mentions of David Nugent from either the Philippine Stock Exchange, which also is the host ADR for PLDT/Smart (NYSE: PHI) (PSE: TEL) as Mr. Nugent was listed even by his own admission in a defamatory article that he asked accomplished business writer Vic Agustin to publicize in the Manila Standard Today, as Mr. Nugent thought that I would start a blog over citizenship and that he could protect his place within the Philippine elite by getting it out there.
I was hurt but then looked at what the piece on April 30, 2008 told me and shareholders, that Mr. Nugent had indeed lied about his citizenship, on Philippine Stock Exchange forms as a key VP and Corporate Governance Compliance Officer, whom strangely written in the by-laws after the 2006 reorganization, which have been destroyed, but as I knew the players I printed and downloaded to a server in Indiana, all possible Philippine Stock Exchange documents, regarding lies by both David Nugent and Manuel Pangilinan.
Manuel Pangilinan, cited by Pulse Asia for Corporate Governance and Executive of the Year, failed to perform due diligence as did The Wall Street Journal Magazine, Smart Money, which chose only two of 12 international stocks to list as their Strong Buys of 2008" but never knew that Mr. Pangilinan too lied to get Smart Money magazine, whom I know did not make the connection to First Pacific Company Limited and refuses to write an article that properly represents PLDT (NYSE: PHI) (PSE: TEL). I started receiving the magazine in January 2009, where Smart Money took a look back at their picks of 2008 and only mentioned that buyers lost interest in foreign stocks.
I am a self-taught corporate governance person as I thought that the private letters to the affected companies would force Manuel Pangilinan or Vice Chairman & CEO of Ace Saatchi & Saatchi Matt Seddon, whom had built Saatchi & Saatchi Vietnam, and was past CEO & President of Saatchi & Saatchi Malaysia and Vice Chairman of JWT Philippines, known as a honest businessman.
Mr. Nugent instead e-mailed me offering a bribe and while I offered one deal as Mr. Nugent is the most abusive person I have encountered having asked me to be on Friendster in 2007 after I had severed communication to threatening to have me killed (which is not impossible due to the corporate elite and government intertwined).
My one request was that Mr. Nugent meet me in Hong Kong at U.S. ACS office and for him, if he was truly in love with the Philippines was to renounce his U.S. citizenship as he has no intention of ever paying back U.S. Department of Education loans and his mother and sister are U.S. citizens and could sponsor a tourist visa.
Mr. Nugent declined and I started doing intensive research based on Sarbanes-Oxley Act of 2002, especially when I learned that Ace Saatchi & Saatchi, where Mr. Nugent was promoted in less than 45 days without a credit check to Vice President of New Business Development Services and did not resign as he had a one year contract after leaving First Pacific/Metro Pacific/PLDT employment as an Officer/Consultant, which is published on this site in the archives, until May 31, 2008.
Upon becoming Vice President at Ace Saatchi & Saatchi he was flown to Mumbai, India and to New York City, NY to meet with executives at the headquarters of Saatchi & Saatchi Worldwide as, for example, Mead Johnson Nutritionals is worth US$1.6 million of revenue in FY2009, while under review after Mead Johnson's IPO and annual meeting by Steve Golsby in the Philippines on February 25, 2009. (As a shareholder of Mead Johnson Nutritionals, it is frustrating to hear that MJN paid an additional US$2,000 as the Philippine marketing execs. of MJN, realized only two weeks before MJN's CEO was coming for his regular annual visit that they did not have their ads translated into English. In the Philippines, just as US$1.6 million is big money, US$2,000 charged by Ace Saatchi & Saatchi, is ridiculous due to rush service.
My ad sources whom are disgusted by slander in the main Philippine advertising gossip site that are libelous and the fact that Mr. Nugent was paid by Ace Saatchi & Saatchi through November 2008, have provided detailed information, much of which I will not use, because I believe that just as Mr. Seddon approved Mr. Nugent's Manila Standard Today piece and his three columns (also approved by Pangilinan as Metro Pacific Holdings own part of GMA7 and Philippine Daily Inquirer).
It is difficult to look at this as a black and white issue as Ace Saatchi & Saatchi and my appeal to parent company Publicis Groupe, to resign specific local accounts, that Mr. Nugent was connected to and in some cases still receives kickbacks from Ace Saatchi & Saatchi. The giant kickback was honoring an illegal contract dated November 7, 2007 as a fiduciary officer of Ace Saatchi & Saatchi. Mr. Seddon started as CEO & President of Ace Saatchi & Saatchi in January 2008 and while I gave him a pass for awhile, Mr. Nugent's win of SM Hypermarkets is still on the Saatchi & Saatchi Worldwide website, which I have pointed out to Mr. Seddon and other Ace Saatchi personnel twice.
I understand that Grey Advertising and Leo Burnett are among the top three finalists for Mead Johnson Nutritionals (NYSE: MJN) and for full disclosure I have not worked nor do I know anyone affiliated with any of the ad agencies. In the Philippines, and U.S. ad dollars in a recession can influence or create stories.
Mr. Nugent lied about everything from education, financial condition and age in sworn statements to the Philippine Securities & Exchange Commission and has now been deleted on orders of Manuel Pangilinan and PLDT/Metro Pacific/First Pacific Board member Ambassador Albert F. del Rosario, whom I plan to write about in the new corruption model as stocks and zero coupon bonds are the new way, in which, Manuel Pangilinan and his inner circle in the Philippines and as President Commissioner of PT Indofood. This should be a red flag to the United States Securities & Exchange Commission.
In 2050, will the great-grandson of Cory Aquino be wearing a yellow suit to have EDSA 12. By the way, I can prove through public information that President Arroyo and Vice President Noli de Castro are closer than advertised.
Best wishes,
Jason Lowen
310-692-0112
lowenjs@gmail.com
You may contact me through Twitter as I cannot receive SMS texts at http://www.twitter.com/pinoypolitico
1 comments:
Good Job
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