What are the costs of a presidential temper tantrum and will the public end up absorbing these costs? Here are the big stories making the headlines on ANC today:
The costs and effects of President Duterte’s beef against water concessionaires is becoming obvious. Shares of Manila Water suffered an extreme drop with the bottom yet in sight. And there are reports the Social Security System (SSS) has sizeable shares in the water company, which could be disastrous for our pension funds. The chilling effect of the president’s rants has had an effect on big business and is liable to cost consumers. It also spells bad news for investor confidence and the sanctity of contracts in the country. Will it all be worth it?
Waste of energy
Energy Sec. Alfonso Cusi is complaining that Filipino-Chinese consortium the National Grid Corp. of the Philippines (NGCP) is refusing to submit itself to inspection to allay fears China may have control over the country’s power infrastructure. Will we have to wait until the President blows a fuse before an inspection happens, Cusi asked. The NGCP said it was busy restoring power from the last storm.
Back to jail
A Quezon City court ordered the return to jail of Zaldy Ampatuan from a hospital with just days to go before the verdict of the Maguindanao massacre case. He was brought to the hospital in October and state prosecutors had questioned his continued stay. On the other hand, Ampatuan sought to extend his hospital stay. The verdict on the case is set to be handed down on Dec. 19.
Tremors and traumas
Aftershocks are still hitting Mindanao. Davao del Sur Rep. Mercedes Cagas made a tearful appeal for more aid after it was tormented by a series of earthquakes. Her constituents are “traumatized” by the quakes.
Boomers, take note: here are the buzzwords of the year, and how to use them. ANCX's resident millennial breaks down such seeming inanities like jawnz and sco pa tu manaa.