Scuttles in the Yanson 3 plan – 4

By Modesto P. Sa-onoy

 

Last Wednesday, I cited the article of The Sleeping Truth and its charge that HBO will bring the downfall of VTI. Well, it makes sense because HBO turned out to Hernan B. Omecillo who is now the acting COO of the Yanson Group of Bus Companies, but the publication considered him “the most evil employee of the YGBC. Yes, he is but an employee, an executive appointed by Leo Rey Yanson, but he is acting like an owner himself.”

Could it be that Olivia has her Rey Repollo in the Manila Purchasing Office and LRY and GYD their Olmicillo? With this characterization of a man who runs the daily operations and business of the company, Olmcillo had a reputation that only those within the company can define. What are the charges against him and why, after almost a year, Olmicillo had remained silent? Does silence mean an admission of the validity of these charges?

The publication accused Olmicillo of “dishonesty and corruption” and “enriching himself by amassing kickbacks from company transactions and commissions from sales.”

They charge him of being heartless as he had fired “more than a hundred tenured employees” and replaced them with “indoctrinated new workers who will fight against the Yanson 4, the legal and majority stockholders of YGBC.”

The article claims that Olmicillo is not “happy with just thousands of pesos in commissions, he wants millions… to milk the YGBC dry” to sustain “his millionaire lifestyle. HBO is not setting a good example to his fellow YGBC executives. The VPs and managers are now competing against each other on who has the biggest house, who has the newest or the most number of cars, or who has visited so many places abroad. Spouses are also competing on who has the most designer outfits, bags, and jewelry. Greed is consuming everybody in YGBC.”

The aggrieved employees claim that “HBO is responsible for indoctrinating the employees of YGBC in all their branches. He is spreading lies about the Yanson4, as if he is the owner and sole authority of the company.”

HBO is on a warpath to undermine the employees’ loyalty to the Y4 which is understandable considering that like Repollo, their stay in the company would be shortened fast in the event the Y4 returns. Make the most of it, while it lasts.

Indeed, being an employee at the top he remains at the pleasure of the owners so he must exert every effort to insure that by the time the rightful owners returned they will have an adversarial workforce and empty coffers. This indeed can be done only by telling lies.

I think he knows where all of these are going and why Leo Rey did not take action on the employee’s charges. Together they want to bring the company down after they stripped it of life and shift to their “own” bus company afterward.

Thus the charge that Olmicillo “does not care and is no longer checking if the buses are in good working condition or if these are actually operating. The company is losing millions of pesos in sales every day from grounded vehicles as well as the kickbacks of HBO and his fellow executives.”

They claim that “his lack of concern and mishandling of the business corrupt transaction, will inevitably lead to the downfall of what once was the most powerful transport company in Southeast Asia.” They also charge that Leo Rey Yanson, “the incompetent brother who has illegally installed himself as president, is just letting HBO run the show. It is no wonder why the Yanson4 are fighting to regain control of the company that was once their deceased father’s legacy to them. In a short span of time, Ginnette Yanson-Dumancas, Leo Rey Yanson, Hernan B. Omecillo, and the rest of the executives will lead YGBC to its demise.”

By giving Olmcillo free hand in the similar way that Repollo was accused of mishandling the funds in the MPO, there is nowhere else for the VTI to go but to bankruptcy.

It is now clear that by allowing these charges of milking operations of the company unchecked Leo Rey is using these two top employees as his instruments.

Continued tomorrow.