The price society
has to pay

Society must pay the price of progress. Businesses, too. It's a basic rule in management that progress is a moving target. It is not a sitting duck. One must adjust his sight to the changing trends. Progressive businessmen keep up with these trends. Those who do not are not left behind.

Electronic banking, while it has multiple benefits, also has its challenges. When Neil Honeyman complained that he lost P50,000 from computer banking, these are among the problems of electronic banking. I am confident the bank will settle it to the satisfaction of all. Read the news item in yesterday's issue.

When I wrote that another depositor complained to me her P12,500 gave her problem in withdrawing from her ATM. Neil wrote me, with this bank, many encountered problems with their ATMs. The complainant told me she was made to write the bank to dispute the answer of the bank.

I also hope, she will have the matter settled. ATM depositors, Neil said, have found problems with this bank. This is true with some banks, too. I hope they correct this now. And Central Bank must step in.

* * *

If we take this up and plan not to let go of it until corrections are made, it is because we want to continue having a strong banking system. Banks perform a fiduciary function.

People put in their money there simply because of trust. Without that trust, the banking system will collapse. We dread the day we will get into that.

We want to believe this is not the fault of the banking system. This is the fault of people manning the bank. There are no formal complaints with other banks.

We want to call on the Central Bank to look into this. The Central Bank all these years has worked hard to earn the trust of people in our banking system. It just takes a minor fault of a few to destroy this trust.

Read again the front page story yesterday, "Briton says funds lost in computer banking." In a letter to the bank, a copy of which was furnished me, Neil Honeyman explained fully how the amount was fraudulently withdrawn" through computer.

* * *

If this is not corrected, here in Bacolod we are going backward. In many other countries, transactions are now operating fully on credit. They call it the plastic monetary system which means what are being used are credit cards.

It is said, in the U.S. when you go to buy a brand new car and you pay with cold cash, the company will look at you with suspicion. Are you a holdupper? Are you a robber? Why, are banks not accepting your checking account, if not your credit card?

And they are able to prevent and detect fraud.

The biggest problem in fraud like this is when it is with the connivance of insiders, bank employees who have knowledge of the operation. Let us expose these scalawags for just one noble reason, let us strengthen our banking system.

* * *

Let me salute Congressman Ignacio "Iggy" Arroyo Jr. for saying most congressmen are against CARP extension. DAR Secretary Nasser Pangandaman said most solons are in favor of the extension. I believe, Iggy is right.

And I hope Iggy Arroyo leads the fight for the Negrenses. And other congressmen here to also make public their stand. Are they in favor or not in favor of extending CARP? No fence sitting.

It is about time they make known their stand. Are they really working as representatives of their people or not? The Negrenses want CARP abolished. Or, at least revised, to make it more effective.

* * *

This morning the Movement for the Retention of the Bacolod Airport will see Mayor Bing Leonardia to enlist his support, the letter to President Arroyo being coursed through him. The Mayor has long been for retaining the airport.

We are happy Congressman Monico Puentevella has also offered to bring the appeal to the President. With both Bing and Newks, setting aside their respective political agenda, and working together for Bacolod, I don't see any reason why we can't achieve this.

We would like to reiterate, we at the Movement have no agenda, other than the retention of the airport, believing it will be good for Bacolod. If there is an alternative, which is better and doable, why not, we will listen to it.

We will also lead to use the alternative if we find it a better one. Not just talk. We ask businessmen to help. We had a good talk with Fred Barcelona yesterday.

* * *

The beauty of this issue is there are those in favor and there are those against. Let there be open discussion. Those who are against have their own public and private reasons. And so with those in favor.

That's correct, the ultimate decision will be made by both President Arroyo and airport land owner Lucio Tan. But they will listen to the people, too.

While the final decision is theirs, our stand, our collective efforts, will also play an important part.

The crucial group here is the barangay leaders, the civic leaders, business executives, and the people of Bacolod.

If President Arroyo and Mr. Lucio Tan will not listen to the collective voice of Bacolod, we cannot do anything but accept it with disappointment. But we are confident they are very reasonable.*

back to top