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CEO Joseph Calata has gone KAPUT!!!! Be warned!

knightlucas · 8 · 39668

knightlucas

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let me just put my opinion too regarding the reactions of other members in the forum about CALATA manipulations issue. I, too invested on CAL shares believing that CEO Joseph Calata, being young and energetic, will be a ray of light to us investors. News about manipulations and SEC cases of dummies and all that did not inflict a single doubt on Mr. Joseph Calata as a CEO and Chairman of Calata Corporations. But lately, I can't help but raise an eyebrow on how Mr. Joseph Calata is living his life. I'm speaking how I view this instances as an investor and as a father of grown up boys like Mr. Calata's age.

Mr. Calata has been seen several nights in bars and night clubs partying with young girls and doused in alcohol. It breaks my heart to hear this public scenes. He was described as being erratic and out of control, bragging and drinking all night. Mr. Joseph Calata for how he was described, he deliberately exposed himself.

As as investor, I fear for the company's situation if their trusted CEO frequents himself in bars and clubs instead of working his ass off for the betterment of the company's stocks. We, as investors believed and trusted the company that's why we bought the stocks, but if it is run by an oblivious individual such as Joseph Calata, well I guess we have made the wrong choice.

As a father, I don't know how Mr. Joseph Calata was brought up. His actions were a display of irresponsible son. The Calata Corporation was started by his parents and he grabs and ruin it. They could have just entrusted their company to a total stranger who is smart enough in making life's choices. Now, I can't help but wonder, there are alot of kids in the Philippines who are far more richer than Mr. Calata but they don't exposed themselves as sons and daughters of billionaires. They are humble and quiet, these are the old rich people whom I truly admire. Like Kevin Tan, who is younger than Joseph Calata but shows more compassion and responsibilty to his father's legacy.

If I am the father of Mr. Joseph Calata, I would tell him to put his acts together and grow up, act his age. He's no longer young as he was once was. He's now a man so he should not act as a boy. If he continues to display this lucid behaviour, I think Mr. Joseph Calata is a big disappointment to the Philippine Stock Market.


richpulubi

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Reply #1 on: Nov 19, 2013, 10:15 AM
Though I sympathize your situation, actually, Mr. Calata bears no responsibility to make you any money.  The same as people who bought Gokongwei's CEB or Ramon Ang's SMC.  Their companies probably make tremendous amounts of money...but none or little of it will end up in your pockets.

I don't know Calata.  I see him attend theatre shows, all dressed up in bespoke suit with matching ascott, and a beautiful girl by his side...even if it was a matinee show...FYI, we were in plain T-shirts and jeans.  He has gone to clubs and spent for drinks for everyone there...including neices of a friend of mine.

Friends of mine have been actively pursued to invest their wealth with him. 

A foreign friend has been convinced to gradually add funds until he will eventually own 10% of the company.

With all due respect, he almost single-handedly made Calata from a small business to a regionwide giant, AFTER it was given to him by his parents. 

But will I park money with him?

No, not unless I have partial control of how the company is run.


vicces

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Reply #2 on: Nov 19, 2013, 12:00 PM
if u look at CAL's disclosures, assuming they are truthful and reliable, the co. is actually very busy/aggressive... they gave out decent cash div (but most likely barya lang para sa mga ipits)... they have forged partnerships (thru joseph's efforts as i understood it) with different companies, here (SMC was it?) and abroad... may buy back offer p... recently they launched daw this new line of products -- gold bean blahblah, and hired celebrity endorsers... yun lng, walang kumakagat sa market, coz of that stigma that its price was manipulated, so u cant really blame him for bad market sentiment na allergic na sa CAL ... trying hard na nga masyado magpakitang gilas imho, wla nmn effect sa stuck kundi lalong nagsspageting pababa..

compare that to other basura stucks na walang halos maireport, bk magmuka pang anghel si joseph... maybe partying is a way for him to blow off some steam after a hard day's work at the office.. MAYBE. what u can only do now is either bail and realize the loss and move on, or supot him all the way and hope he delivers and gain the market's confidence in the long term...caveat


lemreyes

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Reply #3 on: Nov 19, 2013, 01:35 PM
i thought the guy got married recently.


denseymour

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Reply #4 on: Nov 19, 2013, 04:27 PM
im really looking forward to hearing more news about CAL. I need to get that investment back lol  :D


knightlucas

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Reply #5 on: Nov 23, 2013, 08:42 PM
I need my investment back too. With all those publicities and disclosure formalities, I still can't see a light at the end of the tunnel. Maybe Mr. Calata can't see the light too because he's blinded by the flickering lights of the night clubs, it's way too noisy inside the clubs so he won't hear the investors crying. :help:


bulacan_girl

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Reply #6 on: Sep 11, 2014, 02:41 PM
The Calata family is corrupt.  Did you know that they have a case in Bulacan because the Calata family stole the  prime lands of a rich family in Bulacan.  That rich family is a family friend of the Calata’s.  The rich family had an agreement/business deal with the mother Calata, and the rich family entrusted some of the land titles to mother Calata.  When the father of the rich family died 2 years ago, the sons of the rich family found out that the land titles are already in Calata’s name...in short...Calata forged the signature of the father of the rich family, to make it look like it was sold to them.  But Calata forged the signature and it was proven by the NBI.   A case is now filed in Bulacan.    The rich family suspected that this happened when Calata Corp had problems with SEC a few years ago.  They needed money to clear the issue and they had to pay a lot of people in SEC.


pinoynetworker

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Reply #7 on: Feb 09, 2018, 10:21 AM

https://beta.philstar.com/business/2017/11/13/1758598/tricks-joseph-calata-plays

The tricks Joseph Calata plays
Iris Gonzales (The Philippine Star) - November 13, 2017 - 4:00pm
The plot thickens every day. It’s as if we’re watching a new Netflix series.

Truth is, indeed, stranger than fiction. I’m wondering how it will end. Will we see the protagonist – he with the heavily gelled spiky hair – expelled from the stock exchange for good and slapped with appropriate legal actions?

Or by some twist of fate, will Joseph Calata, in his trademark suit and Gucci scarf, end up counting more money than he already has?

Calata is at the center of a stock market scandal. And every day, something new is unfolding.
Perpetually disqualified
Just last week, the Philippine Stock Exchange delisted his agribusiness company, Calata Corp. from the bourse and forever banned him from joining any listed company as director or officer.

Calata is appealing the decision, saying there is no rule that allows perpetual disqualification.

The PSE counted 55 violations committed by Calata.  It also said the company tried to shore up its share price when it did not update the public on a planned P65 billion casino project in Cebu.

In August last year, Calata announced he would team up with American companies for the project.

At least one investor bought 300,000 Calata shares upon hearing of the plan, PSE sources told me. I am sure there are others who lost money, too. Calata’s foreign partners cited growing terrorism in the region as reasons for putting the project on hold.
The Securities and Exchange Commission also filed a criminal complaint against Calata and the company’s directors for allegedly misleading the public regarding the casino project.

His independent director Edmund Solilapsi has resigned.

Indeed, one of Bulacan’s sons, hero to farmers and hog raisers, is now a villain to investors.

After I wrote about him last week, I received letters from people who shared information on their hero-turned-villain. He has been playing tricks on his investors, they claim.

Empty promises, empty warehouses
One investor from Bulacan, for instance, said Calata’s warehouses in the province were empty and didn’t really have any poultry feed stock. But Calata said this simply meant the inventory was moving.

Another said Calata was selling the company’s assets to cash in while shoring up share prices.

When I asked him about these allegations, he declined to comment, saying his lawyers are already drafting the necessary response to regulators.

How about his failure to disclose material information to the stock exchange?

He repeatedly instructed his secretary to file the appropriate documents, he said.

But the clueless secretary misunderstood his instructions and filed the papers in the filing cabinet instead of doing a regulatory filing with the PSE -- or so Calata claimed.

Surreal isn’t it? As I said, this is like a Netflix series.

In one of his press briefings, Calata said people are out to get him. The PSE, he said, is like an old boys club – you’re in or not.

The verdict
How Calata’s story will end is still anyone’s guess.

Here in the land of mayhem, you never really know how things will turn out. The daily life in this country has become even more bizarre than what we see on television.

We’ve become a long-running Netflix series, sometimes even stranger than Stranger Things – a human rights lawyer sides with a proud human rights violator; old oligarchs are brought to their knees while Davao-based tycoons are raking it in; we’re messianic about solving the drug problem but the daughter of a convicted drug queen is guarded by our own police; we can’t solve poverty but we’ll roll out the red carpet for world leaders.

It’s indeed as surreal as it can get. The scriptwriter must be high on drugs.

Calata’s story, I’m sure, is no exception.

Magic tricks
One rainy night last week he finally agreed to meet with me. We met in a swanky lounge where businessmen hatch deals and where gossip flows endlessly.

I found him sitting like royalty on a velvet green high-back accent chair wearing sunglasses. It was past nine in the evening.

He had not eaten yet, so I watched as he ate tinola, served to his liking with red, hot chili peppers.

I wasn’t hungry, so I just munched on some olives and cheese. Love songs played in the background. Pops Fernandez walked in and they exchanged hellos.

At one point, I gave him my card. He took it. And in an instant, Calata pulled off a remarkable sleight of hand – my card disappeared right before my eyes. And then it was back. I asked him to do it one more time. He indulged me and with his right hand, performed the conjuring trick once more.  My card disappeared again.

It’s one of those mind-bending magic tricks I used to see in the circus when I was a child.

“I didn’t know you’re a magician,” I said in jest.

He laughed. I, too, laughed in disbelief not so much at the trick -- but over the fact that someone in deep sh*t could be so carefree and nonchalant.

“Aren’t you even scared you’re in so much trouble?” I asked.

Waxing philosophical, Calata said that life is like a movie and that someday, everything will just pan out.

I agree. But in the meantime, I think he would need a good dose of real magic to get himself out of his troubled situation.

The 37-year old billionaire, who rides a sleek black Cadillac Escalade, once dreamt of becoming the country’s richest man.

But one’s fate can change so quickly in this land of mayhem. In Calata’s case, it may change even faster than he can style his hair in that classic pompadour way. 

We’ll have to wait and see. Don’t even blink.

Iris Gonzales’s e-mail address is eyesgonzales@gmail.com.

 



 


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