American Home Insurance Sc

South Carolina lawmaker's star rockets to the top

Since coming to Washington in January, Scott stood up to party bosses in high-profile debt talks, and he's championing his party's attack on a federal bureaucracy that the GOP believes is hurting U.S. capitalism by imposing too many regulations.

Now, as the GOP presidential campaign moves into high gear across the country, Scott has begun hosting Republican candidates at "Tim's Town Halls" in his congressional district, along the South Carolina coast with its white-sand beaches.

His impact stretches beyond the boundaries of the Palmetto State. Elected with Allen West of Florida last November as the only two African-American Republicans in Congress, Scott's ascent is significant for a party eager to shed its image as, in Sen. Lindsey Graham's words, "the party of angry white guys."

Scott's rise reflects his keen intelligence, winning personality and intriguing biography. The youngest of three boys, he's the son of a single mom and grew up poor in North Charleston. There he built a successful insurance business and launched a political career as that rarest of breeds - a black Republican.

The visits of Minnesota Rep. Michele Bachmann, Texas Gov. Rick Perry, former Utah Gov. Jon Huntsman and former Godfather's Pizza CEO Herman Cain to Scott's district in recent weeks reflect more than his state's elevated political status as home to the first-in-the-South Republican presidential primary.

"The party has finally begun to recruit black candidates as a reaction to the rapidly changing landscape in this county," said Kerry L. Haynie, a Duke University political scientist. "Tim Scott is an example. I think we'll see more of that."

The former star high school tailback, a deeply religious man, downplays the importance of his race in his current post.

SC ORDERS INSURANCE FIRM TO PAY P2.2 SURETY BOND TO ...

The Supreme Court (SC) affirmed a Court of Appeals (CA) decision sustaining a lower court’s ruling against an insurance company which stemmed from a failed dredging project of the Cebu International Port in 1991.

In a decision penned by Associate Justice Diosdado Peralta, the SC’s Third Division affirmed the CA’s ruling dated September 29, 2005 and resolution dated September 25, 2006 and likewise denied the petition for review filed by American Home Insurance Co. of New York (American Home).

Peralta’s ponencia was concurred by Associate Justices Antonio Carpio, Presbitero Velasco, Jr., Arturo Brion, Ma. Lourdes Sereno.

In June 1990, the Philippine Ports Authority (PPA) conducted a bidding of a project for the dredging of the entrance channel and harbor basin of the Cebu International Port in Cebu City.

The PPA awarded the contract to the winning bidder, F.F. Cruz & Co., Inc. (FF Cruz).  Pursuant to their earlier agreement, FF Cruz and Genaro Reyes Construction, Inc. executed a Sub-Contract Agreement whereby the latter agreed to undertake the performance of 50% of the dredging project’s estimated volume of 600,000 cubic meters.

FF Cruz gave G. Reyes an advance payment of P2.2 million guaranteed by a surety bond for the same amount issued by American Home.

The surety bond was issued to guarantee payment of the advance payment made by FF Cruz to G. Reyes for the dredging project in the event that the latter fail to comply with the terms and conditions of the sub-contract.

On October 21, 1991, G. Reyes complained to the PPA about the great deal of silt and waste materials that had accumulated in the area which adversely affected its work accomplishment.

In December 1991, G. Reyes informed FF Cruz that the equipment used for the project had been encountering difficulties because of siltation problems.

G. Reyes admitted that continuing the project was no longer a wise investment and called on FF Cruz to take over the project.

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