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.