There are indications the economy is going to be worse before it becomes better. And it will take a lot of work for the country’s national leaders, especially President Gloria Macapagal-Arroyo, to make things turn around for the better.
Here are specific indicators of how the economic situation is deteriorating:
• At Prince Plaza, a room that used to be rented out for P40,000 can now be had for P10,000.
• At Union Bank, foreclosed real estate properties are being offered for sale at 10 percent down, with the balance payable in 15 years, at 15 percent interest.
• Many office spaces in buildings are unoccupied as renters opt to go to low-priced units.
• Many checks have been bouncing. One publisher had an P11,000 check that bounced after a six-month grace period.
• Many houses in exclusive villages are being offered for sale, but there are hardly any buyers.
• Several newly-opened restaurants furbished at great cost by the owners have closed shop.
• Many hotels are suffering heavy losses and are being forced to forego with their casual work force.
• The employees of a technical school are now working only four days a week, because of forced leave.
• Many people are turning more and more to gambling. Horse-racing, for instance, is now being held five days a week. In Malabon, the off-track betting stations are always packed with bettors.
I could go on and on relating sob stories in almost all levels of society – a sorry sign of how things have become so bad in the business world and in the economic-social landscape. Concerned citizens can only hope and pray that, as in the past, we as a people shall survive and overcome.
There is urgent need for the government to get rid of the Abu Sayyaf problem. As things stand now, a more creative and effective solution should be evolved to resolve this long-nagging issue involving the terrorist group. If a public opinion survey were to be conducted on how the great majority of Filipinos think the Abu Sayyaf problem should be solved, one big word will emerge: ANNIHILATE or PULVERIZE.
Senator-elect Edgardo Angara, who made an impressive comeback in the Senate, dropped by the EDSA Shangri-La Tuesday Club, not only to say hello to old friends from media but also to reiterate that his thrust as a legislator will be rural development. Ed believes that here lies the answer to our country’s present economic woes.
In the past, Ed Angara conceptualized a program that is worth pursuing. It involves the creation of one million jobs through the utilization of one million acres of land. This is a program worth pursuing by everyone in government, for it is a program that has no partisan political affiliations but has only the best interest of the country at heart.
Many have asked me who government mediator William Castillo is. Based on sketchy reports given to me, he is a retired military officer who worked for many years in the Basilan and Southern Philippines region. He is well-known to the Muslim community, and he is reputed to have an
anting-anting that can really terrify the Abu Sayyaf and other lawless elements. Next time you hear William Castillo being interviewed on radio, listen to his voice, diction and accent. You might just be able to recognize who he is.
Thanks a million, and God bless the following kindhearted entities and individuals who lent a helping hand to the Good Samaritan Foundation in the implementation of its charitable and socially-oriented projects:
• RCBC, a regular donor, P25,000 (RCBC 1608653)
• Anonymous donors from Gorordo Avenue, Cebu City, P1,000 (Metrobank 027303)
• A regular donor from Belshire Drive, Fullerton, California, USA, $100 (Bank of America 5171)
• Anonymous from West Triangle, Quezon City, P3,000 (PNB 4243)
• Anonymous, P1,000 (PNB 0075153)
• Chia Kong Chip of Lantawan St., Quezon City, P5,000 (BPI 0029313)
• Ted Labid of Urdaneta Village, Makati City, P1,000 (thru BPI)
• Rod, Riza and Mark, P500 (Traders 264347)
Senator-elect Manuel ‘Manny’ Villar, dropping by EDSA Shangri-La Tuesday Club for the first time since the elections, expressed amazement over how his colleagues in the Senate are so poker-faced, insofar as expressing their sentiments on the issue of the Senate presidency. In the House, said Manny, it is quite easy to discern where a congressman’s heart lies, in his choice of the next Speaker. In the Senate, the senators merely smile, like Mona Lisa, and no one knows what runs in their minds.
Comebacking Rep. Rodolfo ‘Rudy’ Albano of Isabela, who was my colleague in the 8th Congress, a guy who has all the qualifications to become House Speaker, believes that the odds are in favor of former Speaker Jose de Venecia. From the way Rudy talked, it looks like Speaker Joe has succeeded in getting a majority of the solons to back up his speakership bid.
PULSEBEAT: A new newspaper,
Manila Meteor, is about to be launched, with veteran journalist Roy Acosta as publisher and editor-in-chief. The paper’s top cast includes Eddie Romero as chairman of the board, and Rod Romero as president . . . Mike Genovea, former Speaker Jose de Venecia’s PR man several years ago, is back in circulation. He has lately been visible in the newsmen’s circuit, a sign that things could be turning the way of his former boss, Speaker Joe, in the latter’s bid for the speakership . . . The UP-PGH Department of Medicine will hold its 3rd Sagip Buhay Golf Classic on June 20 at the Riviera Golf and Country Club in Silang, Cavite. This is a fund-raising project for the indigent patients at the charity wards of PGH. For those interested in joining the golf tournament, contact Gina at tel. no. 526-4372.
My e-mail addresses:
<jaywalker@skyinet.net> and
<jaywalker@pacific.net.ph>