Three Days Later
The conference room at Reyes Corporation's headquarters had been transformed into a mock hearing space. A row of chairs, a central podium, and screens displaying documents created a formal atmosphere. Michael sat at the head of the table, flanked by his legal counsel Luis Montenegro, along with members of his PR and finance teams.
Luis stood at the front of the room, briefing everyone on the agenda. "Today, we're going to run through the key areas of questioning. We'll start with the PCC hearing, where they'll focus on the acquisitions and alleged dominance in the market. After that, we'll move on to the Senate hearing, which is going to be much more about public perception."
Michael nodded, his expression calm but focused. "Let's get started."
Luis walked up to the podium, playing the role of the PCC's commissioner. He flipped through a stack of papers and began, "Mr. Reyes, can you provide a detailed explanation of how Reyes Corporation's recent acquisitions have impacted competition in the market?"
Michael glanced at the team, then turned his attention to Luis. "Our acquisitions were made with the goal of improving efficiency and enhancing consumer choice. Each acquisition has resulted in new product innovations and lower prices for the public. We've created an environment where competition thrives because we push the industry to improve."
Luis nodded and followed up, "What would you say to accusations that these acquisitions have consolidated too much market power, making it harder for smaller companies to compete?"
Without missing a beat, Michael responded, "Reyes Corporation operates in a competitive market where other companies are still thriving. We've introduced technologies and services that benefit consumers, but we have not engaged in any practices that exclude competitors. In fact, we've created more opportunities for others to enter the market."
Luis held up a hand, signaling for a pause. "That's good, but when they push on market share, I want you to emphasize the economic impact—jobs created, innovations introduced, and increased access for consumers. These are critical points for both the PCC and Senate hearings."
Michael nodded, making a mental note. "Got it. Let's move to the Senate part."
Luis shifted to a new line of questioning, this time adopting a more public tone. "Mr. Reyes, there's growing concern among small businesses that Reyes Corporation's influence is too vast. Many feel that you're pricing them out of the market. What's your response to this?"
Michael nodded subtly. He had dealt with media attention before, but this was different. Today wasn't just about his company's image—it was about defending Reyes Corporation's entire future.
As they entered the lobby, the noise from outside faded, replaced by the echo of their footsteps across the marble floors. The PCC's hearing room was on the second floor, and as they ascended the stairs, Michael could see government officials and PCC staff moving purposefully, preparing for the proceedings.
Luis briefed him one last time as they reached the doors of the hearing room. "Stick to the facts. You've practiced this. They'll come at us hard on acquisitions and market dominance, but we've got the data to show we're within legal bounds. Don't let them bait you into anything speculative."
Michael straightened his tie, taking a deep breath. "Let's do this."
As they entered the room, Michael took in the formal setup—commissioners seated at a long table at the front, their expressions unreadable. To the side, several observers, likely representing other businesses, and legal experts. The room buzzed with quiet anticipation.
He sat down at his assigned spot, facing the commissioners. Luis took his seat next to him, placing a thick stack of documents on the table—everything they needed to defend against the PCC's scrutiny.
One of the commissioners, an older man with graying hair, adjusted his glasses and spoke into the microphone. "This hearing is called to order. We are here today to review potential violations under Republic Act No. 10667, the Philippine Competition Act, regarding possible anti-competitive behavior and dominance in the market by Reyes Corporation."
Michael kept his expression neutral, prepared for the line of questioning that would follow. This was it—the beginning of a long legal hurdle. And he intended to emerge unscathed.
"Please introduce yourself," one of the commissioners instructed.
Michael sat up straight, adjusting his suit jacket slightly. "My name is Michael Reyes, CEO of Reyes Corporation."
The lead commissioner, the older man with the graying hair, nodded. "Thank you, Mr. Reyes. We'll begin with the first round of questions."