Mga Cebuano proud ba ni Winston Garcia?

[giddyboy]

---

sa GSIS but not ni Winston. If you will answer na part na iyang trabaho, how about unahon niya ang binipisyo sa membro rather than usikan ang pundo.

Aside from that, is he sure na mao sad na gusto sa tanan membro sa majority or maoy sugo ni Gloria?

well, whether unahon niya ug prioritize ang sistema sa benepisyo before all other GSIS concerns, or, all concerns at the same time with different priority levels, it would entirely depend on his prerogative and his management decision-making process as the GSIS president. dili lalim ning trabahoa wui. imagine kno u start working with a company that is perceived na as going bankcrupt. 2002 pa ni ha. even people during that time predicted that dili ka survive ang GSIS in 6-7 yrs...now let's look & compare how far GSIS have performed financially since.

and dili man na "usik usik sa pundo" ang paghatag sa "dividend" which the gov't rightfully deserves. kasabot ka unsay dividend? dili na sugo ni Gloria but it is required by law. kung sa negosyo pa na, dividend na sa imong halin.

ang GSIS pre, dili lage na cooperative where all members have a say in the affairs of management. ang naay say ra gyud sa pamalakad sa GSIS are the Board of Trustees. get it?

maybe u can indirectly ky gobyerno man ang GSIS and the people is the gov't. but like i said, ur statement somehow made me think u make it look like GSIS is a cooperative.

kung pananglitan ikaw pre naa kay policy like for example sa Insular Life or perhaps sa Prolife UK, mka buot diay ka sa management nga policy-holder ra man ka? Unless you are one of the Board member, kana pwede.

[junmar4]

well, whether unahon niya ug prioritize ang sistema sa benepisyo before all other GSIS concerns, or, all concerns at the same time with different priority levels, it would entirely depend on his prerogative and his management decision-making process as the GSIS president. dili lalim ning trabahoa wui. imagine kno u start working with a company that is perceived na as going bankcrupt. 2002 pa ni ha. even people during that time predicted that dili ka survive ang GSIS in 6-7 yrs...now let's look & compare how far GSIS have performed financially since.

and dili man na "usik usik sa pundo" ang paghatag sa "dividend" which the gov't rightfully deserves. kasabot ka unsay dividend? dili na sugo ni Gloria but it is required by law. kung sa negosyo pa na, dividend na sa imong halin.

ang GSIS pre, dili lage na cooperative where all members have a say in the affairs of management. ang naay say ra gyud sa pamalakad sa GSIS are the Board of Trustees. get it?

maybe u can indirectly ky gobyerno man ang GSIS and the people is the gov't. but like i said, ur statement somehow made me think u make it look like GSIS is a cooperative.

kung pananglitan ikaw pre naa kay policy like for example sa Insular Life or perhaps sa Prolife UK, mka buot diay ka sa management nga policy-holder ra man ka? Unless you are one of the Board member, kana pwede.

bang... sa ato pa Insular Life an Prolife gobyerno na diay no that what they are thinking kay kaayohan sa sa membro. Ikaw ra sige ingon gobyerno yet the people na mao unta foundation sa gobyerno mao man nuon ilaron. Kay naghisgot ko ug dividend noy?

Kay abi diay sila ang naa sa board ilang abusaran. If mao nay maayo para ninyo, hala pahimulos lang mo now.

[giddyboy]

bang... sa ato pa Insular Life an Prolife gobyerno na diay no that what they are thinking kay kaayohan sa sa membro. Ikaw ra sige ingon gobyerno yet the people na mao unta foundation sa gobyerno mao man nuon ilaron. Kay naghisgot ko ug dividend noy?

Kay abi diay sila ang naa sa board ilang abusaran. If mao nay maayo para ninyo, hala pahimulos lang mo now.

i was just citing a similarity of the GSIS to private insurers manoy. in that, i explained nga ang member dili kabuot sa finances sa management ky they are only policy-holders and their rights are only limited to their policy they are holding...the ones that are entrusted sa financial affairs are the Board of Trustees (that's why the term, "trustees").

as a GSIS member or policy-holder, you can complain all you want about delayed benefits and claims and how your E-card is such an inconvenience. Bsan pa ipa bombo pa na ninyo. Or, in contrast, you are happy with the service. BUT regarding GSIS financial management, NO. besides, there's nothing to complain about it. Instead GSIS is supposed to be deserving "praise" on good financial performance.

and what "ilad" are u talking about? what "abuso sa board" are u talking about?

and by the way, kay wala diay ka naghisgot ug "usik sa pundo" noy? unsa pa man diay laing "pundo" gi istoryahan nato dre rn, di ba ang 1B "pundo surplus" nga gihatag to Malacanang? unya unsa man diay nang pundoha, di ba DIVIDEND?...

if kung maoy maayo ninyo cge lang ug whine even about things that doesn't need to be whining about, hala way gapugong ninyo.

---------------------------------------------------

kini usa ra akong pangagpas:

1B GSIS surplus funds -> dividend to gov't treasury-> RESULTA: suya ang opposition, andar nasab ang mga anti-Gloria, where did the funds go, ek ek...

just imagine, it took the complainants 4 years to file the complaint...i smell something fishy here. why only now?
.

[cdburgh]

naghisgot man gud ka ug "sharing the profit" gud. Pareha ra na ug meaning sa PROFIT-SHARING bro. that's why i explained it that GSIS doesn't have profit-sharing.

as to your new explanation, kana nuon mas klaro na. sayon ra kau na explain bro:

1 Billion in surplus funds asa gihatag? Answer: Malacanang. Only 1 direct recipient, only 1 transaction.

let's say 1 Billion is also given as claims and benefits. asa gihatag? Answer: to claimant members. Pila kabuok transaction? u do the math and the time and motion...

isn't dividend profit sharing? you tell me if there is no profit sharing.

i know GSIS is still problematic when it comes to releasing claims & benefits on time and some other related problems. but u can't compare the issue of claims & benefits with the issue of the 1B surplus given to Malacanang. they are entirely different stories.

yes, they are different stories but you cannot disconnect the two. GSIS declares a surplus when they still have other things to fix internally. If you relate it to a household, you pay all the uitlities and other expenses and if there are money left then that's the surplus...isn't it?

i think i may have been very wrong about the "donation" thingy. The 1B pala given is the government’s DIVIDEND from GSIS’ operations.

"This amount," PGMA said in 2004, would "greatly help in reducing our public sector debt." (that's why in some way or another i thought it was for donation)

it's not "you think you may be wrong" - you're wrong there.

it's not the entire house that needs to be fixed. maybe just the plumbing...
.

i never said the entire house, the plumbing is still a very huge cause of concern.

[yacky2006]

Lingaw sad ko sa inyong mga istorya da...

Share lang ko gamay para ma alegre sad...

During 2002 Winston Garcia was the president and GM of GSIS.

The sad thing nga naka pa ulbo sa kaspa sa uban mga congressman kay nilingkod sad cya as board. Gi control diay niya sad ang policy making..... harhahar...

http://www.congress.gov.ph/committee....php?newsid=78

Committee looks into GSIS’ financial status

Committee Source: GOVERNMENT ENTERPRISES AND PRIVATIZATION


The Government Service Insurance System (GSIS) has been widely criticized over the way it has managed its finances. Talks of an impending bankruptcy have been persistent putting the GSIS into the defensive.

At the center of the controversies hounding the GSIS is its President and General Manager Winston Garcia, who has been parrying various accusations thrown at him.

Over at the House of Representatives, the Committee on Government Enterprises and Privatization under Representative Eladio “Boy” Jala (3rd District, Bohol) has launched its own investigation on the basis of House Resolutions 24 and 225.

Authored by Reps. Rafael Nantes (1st District, Quezon) and Generoso Tulagan (3rd District, Pangasinan), both resolutions call for an inquiry into the state of financial health of the GSIS amid reports of impending collapse of the state pension fund. Foremost in the minds of the authors is the protection of the interest of some 1.5 million government workers who are mandatorily required to contribute in the fund.

Rep. Nantes, in his resolution, stated that the GSIS was created primarily to provide some measure of security to government employees in the country.

He expressed his concern over reports that the GSIS might collapse within five to six years, which will compromise the benefits due its members. He said no less than the GSIS president admitted that the GSIS’ precarious financial position was due to an accumulated P25 billion worth of bad loans and an estimated P45 billion uncollected contributions.

On the other hand, Rep. Tulagan stated in his resolution that the financial state of the GSIS has been thrust into the open following widespread delay in the release of pension benefits and the processing of loan and retirement applications of its members.

The lawmaker also noted that despite the austerity measures adopted by the government, the GSIS still purchased several expensive paintings and paid out excessive salaries, allowances and remunerations to its officials and employees.

Amid reports of GSIS’ near bankruptcy, Rep. Tulagan disclosed that more than P1.2 billion of GSIS funds has been garnished by the Philippine National Bank (PNB) on the strength of a court order issued by the Pasig Regional Trial Court. The Development Bank of the Philippines (DBP), following the same order, likewise garnished various GSIS accounts within the bank.

Under Republic Act 8291 or the Government Service Insurance System Act of 1997, the government as the employer and its employees and officers as members are mandatorily required to contribute to the GSIS social insurance fund. Members who have given the corresponding contributions may avail of such benefits as monthly pensions, separation, retirement, disability, survivorship, funeral and life insurance from this fund.

During the inquiry, both the Committee chair and Rep. Arrel Olaño (1st District, Davao del Norte) questioned Garcia’s sitting as vice chair of the GSIS Board of Trustees aside from his being the president and general manager. They asserted that such situation is a clear example of conflict of interest since Garcia can influence the board in policy-making matters.

“It seems highly irregular that the (GSIS) president, who executes the policies, should also sit in the board which formulates the policies,” Rep. Jala remarked.

Rep. Olaño added that in such a case, the board does not have much independence in formulating policies.

Explaining the set-up as not unique to the GSIS, Reynaldo Palmiery, GSIS senior executive vice president, said the DBP and the Land Bank of the Philippines (LBP) also have a similar structure.

Meanwhile, Rep. Crispin Beltran (Anakpawis) asked GSIS to comment on newspaper reports that GSIS funds were transferred from the government-owned LBP to UnionBank.

GSIS eCard

Enriqueta Disuanco, GSIS executive vice president for operations, confirmed the transfer of funds. She explained that Unionbank won in the bidding for the GSIS eCARD project. The amount of P1 billion was transferred to UnionBank as the implementor of the project.

The eCARD project involves the issuance of information and debit account cards to individual GSIS members. All loans, pensions and other claims shall be credited to the members’ account through it.

The GSIS was requested to furnish the Committee with the documents concerning the said bidding and transfer of funds.

Rep. Rolex Suplico (5th District, Iloilo) also asked the GSIS officials to provide the Committee with copies of the following documents to aid the members in their inquiry. The documents include records of cash advances made by Garcia and other GSIS officials; statement of assets, liabilities and net worth (SALN) of top GSIS officers including Garcia; record of compensation of Farla Carolyn Empemano, younger sister and special assistant of Garcia; and records of loans incurred by Garcia with GSIS.

Anyway, GSIS now days are doing good naman maybe a little more adjustment para plastar gyud nga angay ngadto sa mga member.

Winston Garcia doing hardwork for this para lang mo survive.

[carrie_bradshaw]

ambot lang..uncle man nako siya..no comment na lang..hehe

[giddyboy]

isn't dividend profit sharing? you tell me if there is no profit sharing.

aw o kaayo oi. pero ang imong giingon sauna is ABOUT SA MGA MYEMBRO to have profit-sharing which is WALA which i already explained. ayaw na lihay lihayi kana nga point ky klaro kau imong post sauna.

if u say profit-sharing sa dividends, ang tag-iya or mga tag-iya will get their share sa surplus profits. in the case of GSIS, ang tag-iya is ang gobyerno.

so again, there is no profit-sharing sa members.

yes, they are different stories but you cannot disconnect the two. GSIS declares a surplus when they still have other things to fix internally. If you relate it to a household, you pay all the uitlities and other expenses and if there are money left then that's the surplus...isn't it?

of course, sakto ka diha dapita. u can't disconnect the 2 issues coz they're all about GSIS. what i'm saying is that just because GSIS has internal problems with their system doesn't mean they can't give the due dividend to the gov't. that's why they both are entirely different stories. that's why u can't say fix the system first before giving the dividend to the gov't. that's non-sense.

and about the "surplus" it's not as simple as that. in a household, "surplus" is more of part of savings being accumulated for a long time. and if by simple "risk assessment" you think you would no longer need part of the money to keep your household running and even for future emergencies, say, the next 10 yrs, then you take a portion of it and give it to your wife.

kung sa negosyo pa na pre like a financially strong call center for example, tungod ky nag problema ka sa serbisyo sa imong mga kliente dili nimo taga-an ug dividend or profit ang tag-iya? think about it...

it's not "you think you may be wrong" - you're wrong there.

that's why i even gave the facts why i was wrong. are u not familiar with that expression? daginoton pa gyud na nimo wui. pls. look for better arguments.

i never said the entire house, the plumbing is still a very huge cause of concern.

mao na akong giingon pre ba nga kung ang GSIS balay pa na nga nag generate ug income ug financially good sa management, unya plumbing ra man diay imong problema, ngano di man nimo ihatag ang imong "surplus" profit sa imong misis nga maoy tag-iya sa balay? ky tungod ra sa plumbing? get the analogy?

[giddyboy]

Lingaw sad ko sa inyong mga istorya da...

Share lang ko gamay para ma alegre sad...

During 2002 Winston Garcia was the president and GM of GSIS.

The sad thing nga naka pa ulbo sa kaspa sa uban mga congressman kay nilingkod sad cya as board. Gi control diay niya sad ang policy making..... harhahar...

Committee News - House of Representatives of the Philippines

Anyway, GSIS now days are doing good naman maybe a little more adjustment para plastar gyud nga angay ngadto sa mga member.

Winston Garcia doing hardwork for this para lang mo survive.

closed case nana pre oi. and wala c Winston ni control sa policy-making wui. it's about his being an executor of the policies but at the same time "part" sab sa formulator of policies. It's nothing unique to GSIS only. in fact, DBP and Landbank has that similar structure.

that article was more questioning Winston's management of GSIS finances. that was in 2002. and actually, this case is also closed. WHY? ingon cla ma bunkrupt lagi ang GSIS in 6-7 yrs...NOW LOOK AT. Winston took the challenge, made a complete reversal, AND PROVEN THE CONGRESSMEN WRONG. mao na proud ko niya diha dapita. as for the problematic GSIS computerized system, di ko proud ana dapita. needs to improve more. better yet, change to something much better.

[cdburgh]

aw o kaayo oi. pero ang imong giingon sauna is ABOUT SA MGA MYEMBRO to have profit-sharing which is WALA which i already explained. ayaw na lihay lihayi kana nga point ky klaro kau imong post sauna.

if u say profit-sharing sa dividends, ang tag-iya or mga tag-iya will get their share sa surplus profits. in the case of GSIS, ang tag-iya is ang gobyerno.

so again, there is no profit-sharing sa members.

again, a dividend is given to members from the profit. so how can it be not profit sharing?

of course, sakto ka diha dapita. u can't disconnect the 2 issues coz they're all about GSIS. what i'm saying is that just because GSIS has internal problems with their system doesn't mean they can't give the due dividend to the gov't. that's why they both are entirely different stories. that's why u can't say fix the system first before giving the dividend to the gov't. that's non-sense.

and about the "surplus" it's not as simple as that. in a household, "surplus" is more of part of savings being accumulated for a long time. and if by simple "risk assessment" you think you would no longer need part of the money to keep your household running and even for future emergencies, say, the next 10 yrs, then you take a portion of it and give it to your wife.

kung sa negosyo pa na pre like a financially strong call center for example, tungod ky nag problema ka sa serbisyo sa imong mga kliente dili nimo taga-an ug dividend or profit ang tag-iya? think about it...

if you are talking of risk assessment, then you set aside an amount for that risk. that amount will not be part of your surplus. surplus can be attained in a short time or accumulated overtime. in the case of GSIS, they know what is wrong with their system and they know they have a huge amount at their disposal, why declare a huge surplus when they could spend some money to really fix it. the remaining surplus can be given as dividends. the members would have been happy to have an efficient and working system. i can not just buy your argument.

that's why i even gave the facts why i was wrong. are u not familiar with that expression? daginoton pa gyud na nimo wui. pls. look for better arguments.

wa ko nagdaginot. ayaw lang pod sulti kung dili ka sure kay it is tantamount to "misinformation".

mao na akong giingon pre ba nga kung ang GSIS balay pa na nga nag generate ug income ug financially good sa management, unya plumbing ra man diay imong problema, ngano di man nimo ihatag ang imong "surplus" profit sa imong misis nga maoy tag-iya sa balay? ky tungod ra sa plumbing? get the analogy?

pre, kung guba ang plumbing, kuhaan sa nimo ang surplus para plumbing then ihatag ang sobra sa asawa kay kung dili nimo ayuhon ang plumbing, magbanaw inyong balay. get the analogy?

[giddyboy]

again, a dividend is given to members from the profit. so how can it be not profit sharing?

dividend = profit or surplus

kana imong giingon, kana kung coop lage ang organization. kapoya balik2x wui...

coop - dividends go to the members, depending on their activity
corporation - dividends go to the shareholders
GSIS - dividends go to the gov't

para sayon ra pre, pls read the definition of "dividend" sa wikipedia. kana wa pay lalis.

per wiki: Dividends are payments made by a corporation to its shareholder members. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business (called retained earnings), or it can be paid to the shareholders as a dividend. Many corporations retain a portion of their earnings and pay the remainder as a dividend.

Cooperatives, on the other hand, allocate dividends according to members' activity. (Basin mao ni imong gi huna2x bro. dili ing ani intawn ang GSIS)

if you are talking of risk assessment, then you set aside an amount for that risk. that amount will not be part of your surplus. surplus can be attained in a short time or accumulated overtime. in the case of GSIS, they know what is wrong with their system and they know they have a huge amount at their disposal, why declare a huge surplus when they could spend some money to really fix it. the remaining surplus can be given as dividends. the members would have been happy to have an efficient and working system. i can not just buy your argument.

u r partly correct. kung risk assessment gani pre, naa na kay pundo kung sakali magkinaunsa imong kompanya like fixing the system for example. naay amt gi set aside na ana and it can't be called part sa surplus.

wa ko nagdaginot. ayaw lang pod sulti kung dili ka sure kay it is tantamount to "misinformation".

of course that was "misinformation". that's why i corrected the error. lahi ni sa "disinformation" ha. masayop man gyud nang tawo pre. maayo pka dha dili cguro masayop. dili man sab ko columnist pre nga i-printa akong gisulti sa newspaper. Forum ra man ta dire.

pre, kung guba ang plumbing, kuhaan sa nimo ang surplus para plumbing then ihatag ang sobra sa asawa kay kung dili nimo ayuhon ang plumbing, magbanaw inyong balay. get the analogy?

wa ka ka gets gihapon bro. ang money ipa gasto nimo sa plumbing dili intawn na kuhaon sa surplus. kani ay para sayon:

let's say u have 10,000 pesos a month income:

8,000 pesos to keep your household running
1,000 pesos savings (P500 time deposit, P500 reserved in case of emergencies (like leak in plumbing) <---MAO NI AKO PASABOT
1,000 pesos surplus (dividend to give ur wife)

gets? wa gihapon? aw ambot nlng wui...