Mendoza: Coke back to SMC? Nothing wrong there

Saturday, February 11, 2012

WHAT’S all this fuss about Coke being owned again by San Miguel Corp. (SMC)?

If true, I see no problem there.

Have something to report? Tell us in text, photos or videos.

It’d just be a plain business deal. Nothing more, nothing less.

I don’t see this, it indeed it’s true, as interfering in the life and existence of the Philippine Basketball Association (PBA).

With Coke under SMC again, it’d just be history repeating itself.

Isn’t it that Coke was once owned by SMC? And, as SMC-owned, Coke was likewise a PBA member like SMC-owned Petron, B-MEG and Ginebra San Miguel?

With those four companies as SMC properties back then, the league ran as smooth as, well, silk.

Well, there were suspicions--silent accusations even--the four sister-teams could be colluding as to fix games involving them.

Well, they were merely that: suspicions, mere accusations.

Hard to prove.

Allegations without solid evidence are mere hearsay and no probable cause to even investigate.

Thus, if it’s true that SMC had re-acquired Coke, I see it as another day in the office. Business as usual.

This is a free country. Free competition. Free choices.

Now, PBA Commissioner Chito Salud had put it on record that he had inquired, through a letter, if Coke had indeed gone back to SMC. His subpoena – err, letter – was addressed to William Schultz, the Coke chair and CEO.

Salud’s letter comes on the heels of a letter sent by Schultz to Ramon S. Ang, the president and CEO of SMC.

In that letter on Nov. 11, 2011, Schultz dangled P100 million for SMC to buy back Coke. If, within 60 days and Ang wouldn’t bite the buy-back, Schultz would look for another buyer.

It’s been past 90 days since November 11. Make a guess: Did SMC retake Coke?

Your guess is as good as mine.

Now, while we await the reply of Schultz to Salud, may I propound that Coke being possibly back to SMC is no big deal. The fact it is within the bounds of law negates all other concerns.

We could always invoke the PBA law adopted in the past to temper the doubts: With SMC having four teams again in the PBA, it will thus be allowed to have only two votes in the board.

Fair enough, Jingo?

No redirect, your honor.
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(Tiger Woods is 36, not 34.)

(alsol47@yahoo.com)