Is VTI bankrupt or being bankrupted? – 5

By Modesto P. Sa-onoy


The question that closed yesterday’s article is prompted by an exchange in the social media between two people within the Vallacar Transit Incorporated. It did not mention what document was involved but the exchange is interesting. They are in Hiligaynon, so once again, let me present them in English.

Writer 1: LRY did not sign it. Writer 2 replied, “Previously, LRY scolded doc why he (LRY) had to be called when there is GDY.” GDY is of course Leo Rey’s sister Ginnette, the presumptive vice president for administration.

It looks like LRY was peeved that he had to be called when her sister was there who could probably have decided. It seems to me that LRY did not want to sign when the task belongs to his sister or afraid of its consequences. Was not LRY’s response scolding “doc” indicative of pique, a snide remark against Ginnette?

I asked someone who has links inside the family and asked about the relationship of Leo Rey and Ginnette and the response confirmed my suspicion. The insider (not any of the other four children) said, “Yes, it’s been actually there since day 1.”

“Day 1” is open ended, it could mean at any point in time, even when they were kids, but that is unimportant at this time of our discussion.

What is interesting is: who is “doc” who got the ire of LRY for calling him when the matter (of the signature) could be done by Ginnette? Unless something is amiss!

I asked and the name given by a source close to the upper echelon of the company was that the person called “doc” is Hernan B. Omecillo, a former priest who is now the acting COO of the Yanson Group of Bus Companies. The recent news says he was re-elected member of the board of directors of Bachelor Express, owned by the Yanson family, in violation of the family constitution.

He is an interesting person, a former priest (I recall a Recollect friend told me they have an ex-Recollect in VTI). In reality a person ordained a priest remains a priest but without faculties for ministry. There are several news reports from VTI management about him, but one article by The Sleeping Truth that came out in Facebook has unsavoury commentaries about the “Doc”. But I will revert to that later on because the “predictions” of sorts of that article fit well into the suspicion that VTI is being bankrupted by the top rung of the present management.

So back to the exchange of views in the social media. One statement says that one reason given to the drivers and conductors here in Negros and I believe also in Iloilo is that the company needs the money to help the company in Mindanao that was having financial problems. However an FB article debunks that claim.

“It all boils down to the Y2 wanting to “dramatize” the idea and putting on a show that the company is not in a good shape by declaring it has debts to pay and there is a need to subsidize the Mindanao branches. This plan kind of backfired right at their faces because the sector which they applied the chopping of allowances would not stomach any of it and chose to protest and the Mindanao people also denied their “subsidy” claim as the three bus companies are in fact doing great as 80% of YGBC income comes from Mindanao. They are way better in bringing in funds than the Visayas, truth be told. With these two “supposed” reasons for the deduction not holding water, the current management immediately offered another ‘solution’.”

That is clear enough and need no further comment except another report coming from VTI declared: Leo Rey V. Yanson confirms that despite the challenges faced in 2020, BEI remains strong and resilient. That, however refers to Bachelor Express.

If the Mindanao branches are doing fine and even sending money to Bacolod, why is Bacolod main office crying out it lacks funds and resorting to squeezing the lowly drivers and conductors?

This doesn’t make sense unless both are true – lack of funds in Bacolod but money flows from Mindanao to Bacolod.

Continued tomorrow.