The ruling party standard bearer Gilberto Teodoro said Sunday he is not quitting in his bid for the presidency despite defection by his party mates. In a statement, Teodoro of the Lakas-Kampi-Christian Muslim Democrats coalition dismissed rumors that his resignation as chairman of the ruling coalition Lakas-Kampi was a big hint that he was quitting the presidential race. “Rumors have been circulating that I will allegedly call for a press conference this Monday to announce my withdrawal from the presidential race,” he said in a statement sent by his spokesman, Mike Toledo. “Unfortunately, such is commonplace in Philippine politics, which reinforces my determination to make a stand, to continue the fight. I will settle for no less than victory. Our people deserve no less.” Teodoro resigned as chairman of Lakas-Kampi Tuesday, a move which was followed by Lakas-Kampi party president Rene Miguel Dominguez and secretary general Francis Xavier Manglapus. Sources from Teodoro's camp earlier said the Lakas presidential bet resigned as party chairman to protest the lack of support from President Gloria Macapagal-Arroyo, the party's chair-emeritus. The lack of support is evident in Teodoro's low level of spending on political advertisements compared with the other major opposition presidential bets. From Feb. 9 to March 2, Teodoro spent P60 million, even lower than Bagumbayan presidential bet Sen. Richard Gordon, who spent P67 million. Teodoro was fifth in TV ad spending after Sen. Manny Villar (P120 million), former President Joseph Estrada (P88 million), Sen. Benigno ‘Noynoy' Aquino III (P87 million), and Richard Gordon (P67 million). – ABS
