On Tenterhooks
Ask and ye shall receive, seek and ye shall find: A losing bidder for the right to construct the proposed National Broadband Network (NBN) went to court Monday to stop its implementation by the government and the winning bidder ZTE – and got it today: SC stops implementation of NBN project.
“In its Petition for Mandamus and Prohibition with Prayer for Temporary Restraining Order, the AHI [Amsterdam Holdings Inc. - Ed.] told the high court that it should compel the government to provide the company with a copy of the contract for scrutiny.
“”There appears to be a conscious effort on the part of government to conceal from interested parties all the relevant terms and conditions of the NBN-ZTE transaction. The result has thus far been that nobody, especially not petitioner AHI has been able to take government to task for what is turning out to be another fiasco,” it added.”
As always, hope springs eternal: ZTE says still hopeful on RP deal after SC issues TRO. Bloggers weigh in too on the issue: read Nomadic Thoughts’ and Manila Bay Watch’s entries.
Everything is in readiness for tomorrow’s promulgation at 9:00 AM of the Sandiganbayan’s decision in People v. Estrada et al.: AFP, PNP placed on full alert ahead of Erap verdict. The press has been finally allowed to broadcast the proceedings live. Classes in schools near the courthouse have been suspended.
Macuha.com has video of Erap’s Plunder Case Closing Statements. Ellen Tordesillas repeats an important lesson from this sordid tale:
“The message to us lesser folk is clear: When you decide to divide the spoils, you better ensure that everybody is happy. Just one dissatisfied character can cause trouble, in this case, the fall of the most popular president in the annals of Philippine history.”
So what will the decision be? A teaser from an alleged court insider: Sandigan exec: Erap verdict unanimous vote of 3 justices. Some, however, are looking beyond tomorrow’s verdict, like Philippine Commentary in Only God Can Get Rid Of Erap Now, which to me neatly sums up his thoughts about why and how Erap was deposed from power.
Philippine financial markets are still acting tentative while awaiting the court’s verdict on the former President: see Shares close lower for 2nd day on Estrada, US concerns and Peso ends at 47/dollar level on US recession fears, Estrada woes. And what precisely is this not-so-good news coming from the US?
“US stocks posted mixed results Monday after Federal Reserve officials and companies sounded warnings that the housing crisis and rising unemployment was starting to drag the economy down with it.”
Financial traders from around the world are waiting anxiously for news from the US Federal Reserve: Facing weaker economy, Wall Street eyes Fed rescue.
“Some analysts say the US can avert a recession if the Fed acts swiftly and aggressively to lower borrowing costs, which could help ease the housing crisis and the credit squeeze.”
In the Philippine blogosphere, A Bugged Life proclaims: Survey says: Women don’t like pink gadgets!!!! La Vida Lawyer’s law firm is hiring “first year lawyers, law graduates and junior and senior law students” for a project. The Magnificent Atty. Perez, on the other hand, muses on The Road Not Taken, and haven’t we all? Smorgasbord of Random Thoughts roundly excoriates the Makati Business Club.
Walk This Way is skeptical about the idea of mid- to high-end restaurants opening once more in Intramuros, Manila, but is nonetheless optimistic about the whole thing if the city government and the tourism authority get their respective acts together:
“I really hope Intramuros gets it right this time around. Perhaps with [Manila mayor Alfredo] Lim and [Tourism secretary Ace] Durano in the picture, the squatters will be relocated, services will be improved, and the ridiculous government bidding process streamlined. Really, those are the only reasons why the any place will never take off inside Intramuros. Any right minded businessman would never put up a hospitality venture in a place with hardly any water, a counterproductive bidding process (the winner is never really based on merit), lousy parking, and with a shabu infested shanty town only a stones throw away.”
I spent three years of my life inside the Walled City, even got married at the San Agustin Church, and I hope to see this historic district realize its full potential as a top Philippine tourist draw. I would dearly love to take pictures of Intramuros and post them in my photoblog, if only the Intramuros Authority wouldn’t charge me the absurd amount of PHP 5,000 or so for the privilege.
