Connect With Us

800-350-8656

9700 Great Seneca Hwy
Rockville, MD 20850

info@3CLogic.com
sales@3CLogic.com
"enhanced reporting"
Not only did we get all the features of our old system with 3CLogic, we got enhanced reporting features that are pictorial, graphical and intuitive.
-Mohit Adalkha,
Assistant General Manager,
Spanco BPO
"endless opportunity"
Since deploying 3CLogic’s Contact Center solution, we are presented with an endless opportunity for business and sales growth.
-Dale McCrary,
VP of Technology,
Sopra Brands
"state of the art product"
3CLogic has come out with a state of the art product that is based on a combination of Cloud Services and Distributed Computing Architecture.
-Alvaro Ramirez,
Cediva

Cloud Call Center Community Featured Article

TMCNet: Former SSS chief receives P83M in pay, perks [The Manila Times, Philippines]

[August 25, 2010]

Former SSS chief receives P83M in pay, perks [The Manila Times, Philippines]

(Manila Times (Phillipines) Via Acquire Media NewsEdge) Aug. 25--Thelmo Cunanan, former Social Security System (SSS) chairman, received P83 million in three years from a mining firm where he sat as board member, making him the highest paid official running government-owned and controlled corporation, Sen. Franklin Drilon said on Tuesday. Drilon, chairman of the Senate Committee on Finance, made this revelation at the committee hearing on the inordinately high pay and perks of executives of government firms.


He said that from 2007 to 2010, Cunanan was paid P83,113,076.55 by Philex Mining, a private firm where SSS had a sizeable investment.

Cunanan, also a former military general and ambassador, was invited to the hearing but did not show up. He told the Senate that he had been ill since Friday.

Drilon said that of the total compensation received by Cunanan from Philex Mining, P66.64 million represented gains from stock options. He explained that directors of Philex Mining had the option to buy company stocks that they could sell in the stock market.

On August 14, 2007, Cunanan exercised his option on 495,000 shares, buying them at P3.08 per share when the prevailing market price was P5.60 each. He exercised this option again on 3,140,000 shares on November 12, 2009 at an option price of P1.90 a share versus the prevailing market price of P19.50, and on 930,625 shares on March 12 at P1.90 a share against the market price of P12.79.

Others board members Drilon said that three other SSS officials sat on Philex Mining board--Romulo Neri, Corazon dela Paz-Bernardo and Sergio Ortiz Luis Jr.

Neri said that SSS had invested P24.3 billion in Philex Mining. All four grossed a total of P127.43 million from the private firm.

Records received by Drilon showed that Neri received a total compensation of P15.47 million from Philex Mining from 2008 to 2010; Bernardo, P19.26 million from 2007 to 2008; and Luis, P6.334 million.

Neri said he would not return to the SSS trust fund the gains (Drilon estimated this to total P11.85 million) he made from the sale of stocks he opted to buy.

"This is part of my compensation. I paid about P2.2 million in taxes for this," he added.

Neri also said that besides Philex, SSS made corporate investments in Philippine Long-Distance Telephone Company, P27 billion; Union Bank, P6 billion; Security Bank, P2.9 billion; Metrobank, P2.4 billion; Globe Telecom, P1.8 billion; Ayala Corp., P1 billion; and Belle Corp. P476 million.

The SSS is entitled to a number of seats in the boards of these private firms because of its investments.

Income for trust fund Drilon argued that the proceeds from stock options and from the share of board members in the net income of private firms should have been remitted to the SSS trust fund.

"The SSS officials did not invest their own money. The investment came from members of the SSS," he explained.

At the same hearing, Drilon asked the Commission on Audit to sit down with Administrator Armand Arreza of the Subic Bay Metropolitan Authority to determine the actual amount of compensation he had been receiving.

Earlier, the commission reported that Arreza had received about P26.4 million last year. But Arreza contended that he received only P1.85 million in compensation last year, with the rest belonging to intelligence fund and maintenance and other operating expenses.

Drilon said that the commission and Arreza should discuss how much pertains to Arreza's compensation and how much went to operating expenses credited to him.

The committee will hold its next hearing on Thursday.

To see more of The Manila Times, or to subscribe to the newspaper, go to http://www.manilatimes.net.

Copyright (c) 2010, The Manila Times, Philippines Distributed by McClatchy-Tribune Information Services.

For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com, e-mail services@mctinfoservices.com, or call 866-280-5210 (outside the United States, call +1 312-222-4544)

[ Back To Homepage ]

Resources

Top 5 Disadvantges of Outsourcing
All businesses alike, no matter what goods and services they provide, strive for 100% customer satisfaction. Any decrease in customer satisfaction rates, whether it is through customer service or product interactions can be detrimental to your company's success.
Read More »
The Five Most Dangerous Mistakes Sales Organizations Make
Studies show that the odds of contacting a lead if called in 5 minutes versus 30 minutes drop 100 times. The odds of qualifying a lead if called in 5 minutes versus 30 minutes drop 21 times.
Read More »
Remote Agents in the Cloud!
As an upcoming business owner, you want to make sure you decrease your costs and boost your profits as much as possible. If you run an in-office call center business, you need to worry about managing agents as well as all of the necessary equipment to administer your leads.
Read More »

Cloud Based Solutions Brochure


areg
Contact Centers Made Simple by 3CLogic

3CLogic News

Online Certification Tests from 3CLogic Enhance Quality Assessments for Contact Center Agents and Managers
November 19, 2011
Launch of new 3CLogic University facilitates business growth with certified Call Center staff. Online tests assess agents’ and managers’ contact center knowledge.
Read More »
3CLogic to Double Efficiency of Contact Centers with the Addition of Blended and Multi-Channel Functionalities
October 26, 2011
3CLogic removes barriers for call centers to move to a cloud based service with multi-channel interactions including email, text, voice, and chat. Call blending in the cloud can increase new revenues for businesses by as much as 40%.
Read More »

White Papers

Hosted Contact Centers
In a contemporary era, communication with global citizens calls for global technologies. This means that the hosted contact centers need costly equipment and solutions that cater to modern day needs. They need to be constantly upgraded to give a satisfying experience to the customers.
Read More »

3CLogic Videos