Lucio Tan’s first time

Well, well. There’s talk that Finance Secretary Juanita Amatong has accepted the irrevocable resignation of Trade and Investment Development Corp. of the Philippines (also known as the Philippine Export-Import Agency) president Eduardo Edeza effective June 15.

Boy Edeza has agreed to head the treasury unit of the RCBC Group founded by Alfonso Yuchengco.

Mr. Edeza’s resignation comes as a surprise to many. You see, he hasn’t even warmed his seat at Philexim after his resignation as the National Treasurer at the end of the first quarter of this year.

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As part of its 150th anniversary celebration, Tanduay Distillers Inc. will have its majority stockholder, the media shy Lucio Tan, coming out on the Channel 7 lunchtime show this Sunday.

In a taped segment – his Pilipino, after all, isn’t the best – Mr. Tan will be thanking the predominantly male customers of Tanduay.

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Rockwell Land Corp. president Nestor Padilla doesn’t look as stressed out these days.

You see, Tong Padilla has successfully used the global reach of ABS-CBN Broadcasting Corp. – both RLC and ABS-CBN are partly owned by the Lopez family – to pre-sell condominium projects to Filipino-Americans.

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Here are excerpts of the letter dated June 8 (a day before the most recent board meeting of the Philippine Stock Exchange) and addressed to PSE president Cayetano Paderanga Jr. from PSE directors Vivian Yuchengco, Ismael Cruz, and Francisco Villaroman.

"We read your letter to The Philippine STAR (dated June 5 and which came out June 8) today, because we have not had the honor of receiving our own copy.

"So, you have been in a ‘holdover’ status for the last six months. We admire you for having set such a high standard that PNOC Development and Management Corp. cannot find any suitable replacement in even six months. Be that as it may, at the board meeting last May 12, the board in executive session directed you to irrevocably sever employment from PDMC, as required by the terms of your employment with PSE. The board has spoken – you cannot be any longer in ‘holdover’ status with PDMC (as well as with the Credit Information Inc.).

"…We cannot agree that you can be effective in PSE if you are paddling two boats. And since you have already said (and even said many times) that PDMC cannot find a replacement for you, therefore, we say that it is time for you to decide – resign from PSE."

As everybody knows, Dondon Paderanga has indeed resigned and will return to the UP School of Economics, which he has described as his home away from home.

As everybody knows, UP-Diliman has nurtured (aside from Mr. Paderanga) at least three other director-generals of the National Economic and Development Authority since 1986. (Cielito Habito doesn’t count because he’s from UP-Los Baños.)