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Senate Accepts Cj Bank Documents As Evidence

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Senate Accepts Cj Bank Documents As Evidence HAWAII-FILIPINO NEWS PHILIPPINE NEWS Care Home 7 AFP Urges 12 Operator Gets Montaño to Prove Jail Term Ouster Plot vs. Noy March 10, 2012 H a w a i i ’ s O n l y w e e k l y F i l i p i n O - a m e r i c a n n e w s p a p e r Senate acceptS cJ Bank DocumentS aS eviDence By Marvin Sy │March 7, 2012 Corona willing to testify, open dollar deposits from www.philstar.com is no problem with my dollar deposits because I can ex- ANILA, Philippines - plain it," Corona said in an Chief Justice Renato interview over radio dzBB. M Corona today said that The defense team is he is now prepared to open his expected to start present- dollar accounts at the Senate ing its own evidence and impeachment trial next week. witnesses when the im- "I said I will open it in due peachment trial resumes time and the due time is next on March 12 to counter the week. I have always said there (continued on page 5) p500-million seCurity upgrade ANILA, Philippines - The Senate impeachment court has denied the motion of the camp of Chief Justice Renato Co- eyed for naia rona to disallow the use of his bank records as evidence M in his trial. Senate President and impeachment court pre- siding officer Juan Ponce Enrile said this was the consensus among the senator-judges during their caucus yesterday. “The court has arrived justice Serafin Cuevas argued The prosecution argued at a decision and ruling that that the bank records had been that the “fruit of the poisonous it will deny the motion to illegally obtained and thus tree” principle invoked by the Xxxx suppress, and accept the should not be used as evidence defense in blocking the presen- evidence for consideration against the Chief Justice. tation of Corona’s bank records The Ninoy Aquino International Airport of the court in connection Based on what has been applies only to illegal searches with Article 2 of the Articles presented in court, there is a and seizures conducted by the By Louella Desiderio government was set to bid of Impeachment,” Enrile disparity between Corona’s state or its instrumentalities. out the installation and re- said. peso accounts with PSBank “In the case of these partic- ANILA, Philippines - pair of the equipment The bank documents and his declared bank deposits ular matters where bank ac- Transportation Sec- worth P500 million by next show Corona’s peso ac- in his statements of assets, lia- counts of the respondent Chief M retary Manuel Roxas month. counts with the Philippine bilities and net worth (SALN). Justice were revealed, dis- II assured the people yester- “We will install, up- Savings Bank (PSBank) Article 2 of the Articles of closed to the public, there’s no day that security screening grade and layer the secu- branch on Katipunan Av- Impeachment alleges that the showing that it was done by the for passengers and bag- rity screening in all the 45 enue in Quezon City. The Chief Justice lied about his as- government,” Enrile said. gage would be upgraded in airports that presently have (continued on page 4) defense panel led by former sets in his SALN. (continued on page 4) the country’s airports as the HAWAII FILIPINO CHRONICLE LEGAL NOTES MAINLAND NEWS 94-356 WAIPAHU DEPOT RD., 2ND FLR. WAIPAHU, HI 96797 Deportation 13 The Fab and 14 Remedies Fashionable Filipino 2 News Edition marcH 10, 2012 editorial Closing of Sears Ala Moana Should Not Be Viewed As "Business As Usual" uess what Honolulu residents, Ala Moana 10 years, and reported a $3.1 billion loss last Center has just gotten less relevant to year, is cash strapped. This deal will allow G local residents with the closing of Sears. Sears Holdings Corp. to use the $250 million to Already lined with luxury boutiques and de- improve the company's overall balance sheet. partment stores from the Diamond Head end While the company is struggling as a whole, it's to Ewa end of the mall, Ala Moana Center not publicly known how well or poorly Sears Ala clearly is designed for the tourist market, cater- Moana had been performing. Based on Ala ing primarily to visitors who have greater dis- Moana Center's track record of being one of the posable vacation money at hand. Sears Ala highest earning malls in the country, it's rea- Moana provided customers affordable prices sonable to conclude that Sears Ala Moana is in and unique services found nowhere else in the the top tier of Sears Holdings retail umbrella. If mall like auto maintenance. Sears gave many this is in fact the case, which is most likely, the local residents a reason to go to the upscale closing of Sears Ala Moana is an even bigger mall, browse around, and have lunch or dinner. disappointment, which will be axed down in It was an anchor store that drew in average in- 2013 primarily to boost the company's overall come earners and supported the idea that Ala liquidity caused by other underperforming Sears Moana Center cared for customers with varied stores. income levels. Since the departure of JC Penny's, and now, Sears, perhaps the lure of Business As usuAl? greater profit margins for General Growth Apart from Ala Moana Center's stellar per- Properties, owners of Ala Moana Center, is far formance, its crown jewel of shopping malls, more significant than providing diverse shop- General Growth Properties has been reeling ping choices for the local community. from its own set of financial troubles. Just in 2009, the company filed for The announcement of the closing of Sears by both General Growth bankruptcy protection to restructure $25-27 billion in outstanding debt. Properties and Sears Holding Corp. was a finely scripted public relations Perhaps this one deal of closing Sears at Ala Moana may be a small masterpiece, explaining the mutually beneficial business deal between boost for both Sears Holdings Corp., formerly the largest retail company the two companies as if there were no harmful ramifications, namely that in the country, and General Growth Properties, the second largest mall many full-time, part-time employees, and vendors will lose their jobs. The operators in the nation, to get back on track. Perhaps both companies deal may just very well be a "win-win" situation for both General Growth have learned valuable lessons on limits of expansion and diversified in- and Sears Corp. from a business perspective, but definitely the workers vestments. at Sears Ala Moana and many in the community view the closure with dis- But the public should not forget the thousands of job losses these appointment, and perhaps even more importantly, highlights an already companies cost in their quest for bottom line profits and expansion. The prevailing belief that something is deeply wrong with big corporations public also should not forget the pressure these ever expanding, large overextending influence on local economies. When they fail, so do local corporations, and others like them, have had in pushing smaller compe- communities. tition out of business. When storms hit the financial markets, too rough for large corporations to weather out, but better suited for smaller-to- The DeAl medium size businesses to adjust to, consumers ought to remember the General Growth Properties will pay Sears Holding Corp's $250 million pattern: big corporations will cut jobs. The Ala Moana Center deal is just to buy Sears' lease at the Ala Moana Center site that covers 340,000 a part of Sears Holdings Corp.'s overall plan to close 79 stores amount- square ft. General Growth will benefit by renting out that space at a higher ing to about 4,000 to 9,600 job losses. General Growth Properties ear- price which may gave it double, or even triple, the amount it is currently lier reorganization efforts resulted in cutting 20 percent of its company's collecting from Sears. workforce. Sears Holdings Corp., which has not made a yearly profit in almost Why do we as consumers continue to enrich and enable big corpo- (continued on page 3) NEWS EDITION www.thefilipinochronicle.com www.efilipinochronicle.com Contributing Writers Advertising/Marketing Director Belinda Aquino, Ph.D., Clement Bautista, Chona A. Montesines-Sonido Charlie Y. SONIDO, M.D. Columnists Teresita Bernales, Ed.D., Linda Dela Cruz, Gov. Neil Abercrombie Carlota Ader Publisher and Executive Editor Fiedes Doctor, Danny de Gracia II, M.A., Account Executives Mayor Peter Carlisle Carlo Cadiz, M.D. Caroline Weygan-Hildebrand, Amelia Jacang, Carlota Ader Sen. Will Espero Chona A. M.D., Caroline Julian, Maita Milallos, Paul J. P. Orias MONTESINES-SONIDO Grace F. Fong, Ed.D. Melvin Palalay, M.D., Glenn Wakai Ruth Elynia Mabanglo, Ph.D. Creative Designer Big Island Distributor Publisher and Managing Editor J. P. Orias Junggoi Peralta Grace Larson Pacita Saludes Ditas Udani Dennis GALOLO Reuben S. Seguritan, Esq. Philippine Correspondent Edwin QUINABO Charlie Sonido, M.D. Greg Garcia Maui Distributor Emmanuel S. Tipon,Esq. Associate Editors Photography Cecile Piros Felino S. Tubera Tim Llena Randall SHIROMA Amado Yoro Molokai Distributor Design Consultant Sylvia Yuen, Ph.D. Administrative Assistant Shalimar Pagulayan Maria Watanabe The Hawaii Filipino Chronicle is published weekly by the Hawaii Filipino Chronicle Inc. It is mailed directly to subscribers and distributed at various outlets around Oahu and the neighbor islands. Editorial and advertising deadlines are three weeks prior to publication date. Subscriptions are available at $75 per year for Oahu and the neighbor islands, continental U.S.
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