The case of the missing car

The banking industry is talking about the 30-day suspension of a senior vice president, who has since been hospitalized.

The suspension, which took effect last Monday, was meted out when the company vehicle which the bank has been trying to get back from a retired officer was found in the residence of the SVP.

Now, here’s the dramatic part that took place over the weekend.

The SVP refused to give the car keys to the lawyer representing the bank (who was, of course, accompanied by the sheriff). The retired officer arrived at the SVP’s residence shortly after, accompanied by two lawyers who physically blocked the car from leaving the garage.

Right now, the company vehicle is, uh, parked at the Department of Justice.

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Did you know 1: The death of good waiters in luxury hotels these days could be indirectly blamed on the telecommunications industry. You see, these customer-oriented waiters have made a career shift at double their salaries plus a car.

By the way, these luxury hotels, particularly the ones based in Makati, are currently offering corporate room rates (breakfast included) of between $65 and $95 for what would have cost $250 a night.

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Did you know 2: Kenneth Yang has replaced Joseph Lau as managing director of Golden Archers Development Corp., the Philippine master franchisee of McDonald’s.

Although the son of Golden Arches chairman George Yang, the younger Mr. Yang drew washroom duty like everybody else in the early days of McDonald’s in the country. Like all managers, the younger Mr. Yang also attended Hamburger University.

Filipino friends of Joe Lau would have to go to Thailand, where Mr. Lau now runs one of the biggest local fastfood chains (a la Jollibee Food Corp., which was founded by Tony Tan Caktiong and his brothers).

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Former Finance Secretary and current The Institute of Corporate Directors president Jesus Estanislao is the main man behind the 9th Conference Series on Good Governance and Responsible Citizenship on Nov. 9.

This conference is significant because it highlights the country’s accomplishments in improving corporate governance, both in government and the private sector.

And yes, even Jess Estanislao occasionally feels frustrated. This is because of the perception, both here and abroad, that "nothing good has come out of the Philippines."

Here are some of Mr. Estanislao’s thoughts:

• "Beyond orientation, we have already moved towards certification for the professional practice of corporate directorship;

• "Beyond formulation of corporate governance improvement programs, we have already designed a corporate governance scorecard as a tool for tracking actual progress in corporate governance practices; and

• "Beyond corporate boardrooms involving only corporate directors, we have moved towards involving various key professionals – reputation agents of corporate governance – in the systemic corporate governance improvement program for our economy."