Pangan: On the run

March 25, 2011

NEVER have so many nights been spent on so few material things, namely: the ever recurring earth shaking and the accompanying water upheavals. The danger is always imminent and occurring, ergo, there is nary a chance to stay put and relax our guard.
Every one of us is on the run, literally, as we face daily trials brought by rapidly increasing prices of everything, well, almost, we need to survive in this seriously troubled world. Could we then blame others who are near paranoid about their safety and basic existence?
Would there still be some points where these troubles subside and put us back to normalcy? These are abnormal times, instances of living precariously and on the brink of hopelessness and uncertainty.
*****
Bank on the run. For the second significant time, beleaguered Banco Filipino had to close its doors to its depositors to stave off a bank run, a term used in the banking community to describe a panic-instigated withdrawal spree by the bank’s clientele.
It was in 1985 (if my recall machinery will serve me right) when this bank first experienced massive and unprovoked withdrawals so it had to run to the then Central Bank of the Philippines (now Bangko Sentral ng Pilipinas or BSP) for assistance in the form of loans and advances against the former’s liquid and free and unencumbered assets.
After the emergency aid and bailout, Banco Filipino was resuscitated but its former glory announced in the slogan Subok na Matibay, Subok na Matatag did not bolster the bank’s deposit base but it was able to plod on until this month and year when it again experienced a near bank run.
Due to massive withdrawals in all its branches nationwide, it had to declare a bank holiday and seek Bangko Sentral’s assistance to accommodate large withdrawals from its depositors, but its pleas obviously were ignored by Bangko Sentral, thus, Banco Filipino (BF) had to close, albeit reluctantly and be handled by the Philippine Deposit Insurance Corporation or PDIC.
Cases had reportedly been filed by BF against the BSP, seeking relief from the courts and another lease on life. Meanwhile, the PDIC reportedly is preparing to give back to depositors, from P5,000 upward, their deposits. The insurable amount, by the way, is only up to P500,000 as the law says and commands.
Complaints galore. With this revelation, clients who deposited their lifetime savings feel aggrieved by the suddenness of events leading to BF’s closure. Believing their money is safe and earning inside the bank, depositors willingly parted with their hard-earned money, foregoing their need to spend and save it instead in the bank, only to wake up to the realization that it could last a while before every cent of it can be withdrawn or returned.
Of course, BF’s top officials are now trying very hard to pacify irate depositors. One, Atty. Perfecto Yasay, Jr., once Securities and Exchange Commission top honcho, had to air his views and comments on television and radio networks, saying the bank had enough assets to service withdrawals, with or without BSP’s assistance. He assailed BSP’s hard stance toward his bank, adding that some groups are out to grab the bank from the owners and run it on their terms. As a matter of survival instinct, BF has had to file cases with the courts in order to compel the BSP to honor its previous pledge or commitment to the beleaguered Banco Filipino, now a bank beset with, and by, problems including a disturbing bank run.
*****
Swift Chinese justice. China, like Singapore, is perceived to be a stickler for law, particularly on meting out the death penalty and implementing it to the letter. This much we have seen and now will see in the execution of the three convicted drug mules, namely: Ramon Credo, Sally Villanueva and Elizabeth Batain. Despite the last-ditch effort of the Philippine government officials to save the trio from lethal injection, the Chinese authorities were firm, hard and steadfast in executing the executions, no fear, no favor asked or granted.
How I wish this style of implementing the law is carried out strictly in the Philippines, in order to give fair and equal treatment to litigants, no matter how rich or poor they may be.
Anyway, I can dream, can’t I?
*****
Glitch at DFA Clark satellite office. Some passport applicants told me that they were not able to get their passports last March 18, due to unavailability of the so-called security paper or Secpa, originating from the Bangko Sentral ng Pilipinas. It has been a week now but, aside from text messages sent to expectant passport applicants, no official word has come out (as far as I know) from the Department of Foreign Affairs. Perhaps, its people are busy spiriting out of Libya and other troubled spots overseas Filipino workers? Well…

Source: http://www.sunstar.com.ph/pampanga/opinion/2011/03/24/pangan-run-146682

Although the Philippines is not known for being the wine capital of Asia, Clark Pampanga is the most frequently visited destination for wine lovers in Cebu, Angeles City and Manila to shop for some good vintage wine. The famous wine shop outside Manila called Clark Wine Center is the largest wine shop in Philippines which offers over 2000 selections of fine vintage wine from all wine regions, vintages spanning over 50 years covering all price ranges.

This wine shop in Clark is highly recommended as one of the best places to buy wine in Pampanga. Clark Freeport is just outside Manila near Subic and Angeles City Philippines is Clark Wine Center. Visitors buy wine in Manila and Pampanga should not miss stopping at this wine shop for a few bottles of fine vintage wines to bring home.

Established in 2002, YATS WINE CELLARS is a wholly-owned business unit of Hong Kong-based Yats International which owns and operates resort, wine shops, wine bars and fine-dining restaurant properties in Clark Freeport in The Philippines. YATS WINE CELLARS caters to a clientele of discerning wine lovers from all over the world. Besides a good selection of wine for everyday enjoyment, YATS offers a unique selection of aged vintage wines made available to wine enthusiasts at remarkably affordable prices. Vintages span over a century and the selection of old- and new-world wines covers all major wine regions.

http://www.ClarkWineCenter.com

Getting to this wine shop in Pampanga Angeles City Clark Freeport Zone Philippines from Manila
Getting to the Clark Wine Center wine shop from Manila is quite simple: after entering Clark Freeport from Dau and Angeles City, proceed straight along the main highway M A Roxas. Clark Wine Center is the stand-along white building on the right, at the corner A Bonifacio Ave. From the Clark International Airport DMIA, ask the taxi to drive towards the entrance of Clark going to Angeles City. From Mimosa, just proceed towards the exit of Clark and this wine shop is on the opposite side of the main road M A Roxas.

Clark Wine Center
Bldg 6460 Clark Observatory Building
Manuel A. Roxas Highway corner A Bonifacio Ave,
Angeles Clark Freeport Zone, Pampanga 2023
0922-870-5173 0917-826-8790 (ask for Ana Fe)

Wine@Yats-International.com

YATS Wine Cellars
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 ask for Rea or Chay

Best place to buy wine in Clark Pampanga outside Manila near Subic and Angeles City Philippines is Clark Wine Center.
Wedding couples looking for wedding reception venues and beach wedding venues can log on to this Philippines Wedding Venue web site for free information and assistance:

http://www.PhilippinesWeddingVenue.com

While in Clark, it might be a good idea to enjoy an evening of wine-and-dine in the fine dining Yats Restaurant and Wine Bar that features an award winning 2700-line wine list. It is located in Mimosa Leisure Estate of Clark Freeport Zone. For more information, visit http://www.YatsRestaurant.com

YATS Leisure Philippines is a developer and operator of clubs, resorts and high-class restaurants and wine shops in Clark Angeles Philippines http://www.YatsLeisure.com

Looking for famous tourists spots, places to visit and see, relax and unwind in Clark, Pampanga, Philippines? You may want to check out these sites also:

http://www.LondonPubClark.com

http://www.HotelClarkPhilippines.com

http://www.ClarkPhilippines.com

http://www.YatsWineCellars.com