Taipan Lucio Tan: continuing changes in family empire.
InterAksyon.com
The online news portal of TV5
LT Group vice chairman Harry Tan may be the next "old guard" and family member to exit from the Lucio Tan empire - after, it is hoped, the final resolution of the fractious estate planning and succession issues besetting Harry's 78-year-old elder brother.
Harry, 66, said he was "seriously considering" retiring next year, after the family's Eton Properties last week collapsed the board seat of Lucio Tan brother-in-law Domingo Chua.
Chua, 70, earlier found himself steadily removed from the boards of over two dozen LT Group of companies, a rude awakening for some quarters who had thought that Chua would have been at least an interim successor to Lucio Tan after the spectacular break-up between the taipan and another brother, de-facto chief financial officer Mariano Tanenglian.
Harry himself has already secured his own succession, with his son and namesake, marathon man Harry Jr., having provided the secret sauce to Cobra, the energy drink that toppled worldwide leader Red Bull in the local market and finally catapulted Asia Brewery into profitability.
At last week's Eton Properties meeting, another board seat, that of retired president Danilo Ignacio's, was also collapsed, reducing the number of directors to nine from 11.
Despite Ignacio?s retirement a year ago, Eton has not found a suitable replacement, forcing the board to name Michael, the taipan's son with his second wife, as interim president.
The taipan himself was absent from the Eton meeting.
And so was first son and namesake, Lucio "Bong" Tan Jr., who was in the United States renewing his own ties with his West Coast-based family after losing out in the succession battle with Michael.
Bong's sister, Vivienne, who only needed to ask her father for the Eton presidency, was likewise away, traipsing around Europe, according to the family grapevine, with an unnamed colleague.
Incidentally, Michael, who at 45 is younger by only a few months than Bong, takes issue with the press whenever he is described as "heir apparent" or even as the more forceful "next emperor" to Lucio Tan.
"I am just a manager here" is Michael's favorite line to the press, whenever asked about his role in the taipan's airline-banking-tobacco-real estate empire.
He could be telling the truth. Even Michael's own brothers Timmy and John are grumbling about their being kept out of the company loop by their own blood brother.
But that, as they say, is another story.
A Clark sideshow?
Still flush from their holidays, Cebu Pacific and Seair passengers who flew in from Hong Kong nearly noon Saturday at Clark suffered a real dampener: not only did they find their immigration line had to snake out of the small terminal and into the hot tarmac. The returning residents and visitors were made to pass next to the sleeping quarters, where a uniformed personnel lay on one of the beds, texting away, oblivious to the slow-moving queue staring at him.
"He didn't even close the door," muttered one lady passenger in Tagalog to her male companion, more embarrassed for the country than for the errant employee.?
Among the returning residents who endured the sideshow were English-trained legal luminary Kat Legarda and her family.
Nearby, the corner hall had been converted into a makeshift storage for chairs and tables for the disabled, also in full view of tourists expecting more fun in the Philippines. Wait until they discover that there are no soap and toilet paper not only in the Clark facility, but in all government "comfort rooms."
Money-Go-Round
? Gabriela Rep.Luzviminda Ilagan apparently is no respecter of inter-parliamentary courtesy.
Even with the House connections of the extended Floirendo clan through Reps. Antonio Lagdameo Jr. and Anthony del Rosario, the left's party-list representative has managed to schedule a public hearing this Wednesday on the impending renewal of the contract between the Department of Justice and the Floirendos' Tagum Agricultural Development Corp. for the continued lease of prison lands in Davao for Tadeco's banana plantation.
? iConnect, the fourth and smallest telecom company in Guam despite being controlled by an estranged son-in-law of taipan Lucio Tan, is still on the market, after the Philippines' own Smart and the Delgados found the asking price a bit too rich.
The Delgados had wanted to fold in iConnect 2G push-talk technology and its 5,000 subscribers into its IT&E network to strengthen the latter's position as the largest telecom company in the Marianas, with its 80,000-plus subscribers.
Heard through the grapevine
Notwithstanding the "matuwid na daan" campaign and the presence of Cory Aquino-era and ex-Ayala spokesman Danilo Gozo in the GSIS board, the management of the Government Service Insurance System is content just to kick the can on the festering Manila Hotel collectibles until the dawn of a hopefully more receptive post-Don Emilio era.
E-mail: cocktales_tv5@yahoo.com
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