It has been observed that many CAMTECO members are no longer interested to participate in the coop activities like attending the annual general assembly meeting. If they attend, the majority are not participating in the deliberation of issues raised by some concerned members. Without the support of the majority, nothing positive is accomplished.
To all members, we should be concerned because your membership worth so much! There’s a provision that prohibits CAMTECO from selling the network. Here’s the story why …
October 1992 at the Manila Garden Hotel (now Nikko Hotel) when GTZ awarded the turnkey contract to Alcatel. After the meeting comes the socials, of course with some rounds of beer. I asked Heinz Pomplun – “Now that we know the contract price, how much is the total project cost?”. “About P50-million.” his quick reply. I was not impressed at first.
When he added “… but the final figure is not yet final. We have to add on the cost of the subscriber cable network for the first 400 subscribers after the field survey in Camiguin.”. When I divided P50,000,000 into 400 lines – it’s P125,000!!! It blew my mind. What? Each member is given an investment worth P125,000!
“What if some crafty members will figure this out that there’s so much investment at their disposal and they propose to sell CAMTECO at a profit? Let’s say P200,000 each?”. Heinz relayed this to Juergen Marx. Later they said – “We’ll put this prohibition in the Charter Agreement.”.
See, CAMTECO membership is worth P129,000 (including the P4,000 counterpart).
Now how’s this big investment should should work?
If you are given the same amount and buy PLDT, Globe, Smart, Digitel or Bayantel stocks, how much annual dividend would you expect? But CAMTECO is very small compared to these telecom giants?
The German economist Dr. Klaus Pertz, after he made a financial study of the first year of operation, concluded: “CAMTECO has the same earning capacity than PLDT. It has even higher net income-to-employee ratio than PLDT.”. It means that the coop size is not a limitation to be profitable (or to expand its network). We always hear Heinz say “CAMTECO is a money-making machine but … it has to be run smoothly like PLDT“.
If you are a member, therefore you must treat yourself like a PLDT stockholder who invested P129,000 worth of shares.
Now “… to be run like PLDT”?, let us see:
- Is the agenda and decorum of the General Assembly meeting like PLDT’s stockholders’ meeting? Do management problems issues brought to the assembly? Is the Financial Report distributed in advance?
- Does the Board of Directors handle matters like Manny Pangilinan and company? For example, would Mr. Pangilinan worry what size of cable or what equipment to purchase?
- Is the management given enough independence to decide on planning, research all the way to the implementation of projects? Do we really have high-caliber experienced planners, implementors and quality-control staff like PLDT’s? Are they given enough authority to negotiate with telcos and suppliers?
Come to think of this – the Ayala’s had no experience in telecom business. They hire and supported technical experts who promised to deliver then profits. They approved capital investments, equipments, training, marketing, advertisements, etc. so that management can deliver to their long-term plan.
Employees are paid handsomely so they can get the best. However, they put their necks at stake … lots of pressure. In private companies, good performers are promoted while mediocres are fired. Do we have the same work ethics in the coop? Do the Board gave free hand to the management to plan and implement projects?
Those are just few but vital points to consider. There’s so much at stake of being a CAMTECO member. At this point, CAMTECO would have been a blue-chip cooperative. Earnings should be higher than bank rates that members, businessmen, balikbayans, etc. would be pushing to increase their coop shares … voluntarily.
The mandatory resolution to increase the membership share to P12,000 just hides the true picture of CAMTECO’s __________ management. You fill-in the blank.
If you agree with this information, you will do a great service to your fellow members if you openly spread this information to fellow members. Print this page for those who have no Internet access. Support the few vocal members in the deliberation. Remember, the General Assembly is the highest governing body … only if we act as one!