MWSS Provides 25-month Bonuses to its Employees

[digitalron]

The worst thing here is that the MWSS isn't even making money. It's not doing its share of remitting to the government, and then it bleeds the taxpayers dry to be able to give vulgar amounts to their own people. And these same people buy big SUVs for themselves and their bodyguards to bully the taxpaying motorists on the street.

Ugh!

[uls]

govt owned companies do not exist to make money

they exist to lose money

unlike private companies, govt companies do not exist to make profit

instead of making money and remitting earnings to the national treasury, the national treasury has to write checks to support the companies

the national govt has to subsidize govt companies to keep them operational

govt owned companies exist for ONE PURPOSE: to support/maintain the lifestyle of the people working in those companies

the employees, from top to bottom, milk as much as they can from the companies

unlike private companies who have real owners around to protect their companies' interests, govt companies have no real owners to protect the companies' interests

nobody has ownership interest

nobody has their own capital at stake

everyone is an employee

even the person at the very top

so who cares if the companies lose money?

all employees care about are their salaries and bonuses and benefits

they don't care if the companies lose money

they don't care if the companies collapse

they know the companies can't collapse

coz the national govt subsidizes them

the party goes on and on indefinitely at taxpayer expense

black holes

[tidus1203]

That's why PRIVATE is more efficient than PUBLIC. Private companies feel the pain of losing money, public don't.

[uls]

sa States, you have the GSEs

Fannie Mae, Freddie Mac

giant black holes

[jimnyeatworld]

Garcia does not hold any executive position in the agency but only as chairman of the board, where he receives P14,000 per diem per meeting

Drilon said the board met 47 times in 2009 or at least once a week.

47 x 14,000 = 658,000 in 2009 pa meeting meeting lang heheh kasi may iba pa sya tarbaho or pinag-chairmanan

[tidus1203]

sa States, you have the GSEs

Fannie Mae, Freddie Mac

giant black holes

Kung public stock lang ang mga GOCC's natin ganito mangyayari sa kanila.



Syempre they are companies MEANT TO LOSE MONEY!

[CVT]

Kung public stock lang ang mga GOCC's natin ganito mangyayari sa kanila.

Syempre they are companies MEANT TO LOSE MONEY!

Kaya nga dapat ang mga iyan,- patakbuhin like they're running a corporation.

They should be responsible for their own P&L...

And, profit sharing should be at the discretion of the central conglomerate. Those subsidiaries reporting profit should be given a fair share of bonus for their efforts and contributions to the national coffer. While those reporting loss should get nothing and later be sacked for being non-performers... Other subsidiaries who are not into this business model should say be at 'transfer pricing' for example.....

10.7K:naughty:

[_Qwerty_]

may kakilala ako dyan.. every 3 yrs bago sasakyan.. from REVO to CRV to Fortuner na ngayon.. regular employee lang yun..

[badsekktor]

kaya nga siguro panahon na para i-downsize ang gobyerno at i-dissolve na karamihan sa mga useless na GOCCs... sayang pera dyan.....

[uls]

just look at NAPOCOR

in terms of revenue, it's probably the country's largest corporation

pero syempre, as a GOCC, it's not profitable

it's money-losing