Yuchengco's bid for Philamlife: The cost of reputation
Posted at 02/23/2009 6:27 PM | Updated as of 02/23/2009 6:27 PM
Your article pointed out the very flaw of the Yuchengos.
Since the issue erupted way back in 2005, the Yuchengos did a very poor job in addressing the problem. Simply put, they took the problem to themselves and try to solve Goliath without consulting with David. They thought that going to court and seeking legal shield would protect them and plug the leak.They never though that there will be a group of parents who will rise and challenge the Yuchengcos. True, the battle is still on, the hills are steep, but the Yuchengos are paying a dear price for their silence.
The Yuchengos said that they are open to talk. Really? Well, how come no one answers their office phones? How come their phone lines are always busy? If not, out of service? How come no one answers the email/s sent? How come no one answers their hotline numbers? They say they give advisories. Where? I want to ask. Where do they put their advisories?
Every business survives because people put their trust on. For example, you trust that this food chain that you visit everyday, every week with your children will give you the same satisfaction as advertise or else, you would go elsewhere. You trust that the food you eat is clean and that you will need not to see a doctor afterwards because you got food poison. So I guess the Yuchengos forgot the simplest basic values for a company to survive. Trust. Until now, I am yet to receive a letter of assurance from the Yuchengcos that what they are doing is sound and for the best of their plan holders. Yes, I bought two educational plan from the Yuchengcos. They are not the open-ended plan. I am not a member of the PEP coalition. But I am very much affected in every way. If the yuchengos think that they are simply battling with a minority, I suggest they don’t make the same mistake. Do not tread the remaining thin line of trust we have on the Yuchengcos. Talk! Communicate! Listen!
They say I am safe. But how safe really I am? They say I need not worry. What assurance can they give if they can’t fulfill the promise they made to the ones who have gone before me. Truly, my heart goes to those parents who just like me, kept every single dime and penny so that we can to pay our end of obligation to the Yuchengcos. And, hopefully, hopefully one day, on maturity day, they would fulfill their promise.
The recent sale of Pacific Plans Inc. is another betrayal of trust done the Yuchengcos to its Plan holders without proper consultation.
How this will end, I do not know. But I do hope it won’t end up ugly for both.
Howard Lim