Luckily, Ben Abalos isn't too charmed with the contract either. I remember him telling me over coffee at the EDSA Shangri-La Tuesday Club that this Jancom deal is his biggest stumbling block in finally solving the garbage problem. Hopefully, that means Ben will take the cue from President GMA and junk that contract with finality.
Actually, neither President GMA nor Chairman Abalos can do anything else without risking a severe political backlash. Two Presidents, Ramos and Estrada refused to sign that contract. Estrada recently told columnist Neal Cruz that someone tried to bribe him. And that P390-billion deal was also rejected thrice by the Investment Coordinating Council of the NEDA.
What the Supreme Court has done was merely to affirm that a contract had been signed and that's all legal. But it is still up to President GMA to decide on other aspects of the deal. And if she sticks to her declaration the other day, she will have nothing to do with it.
Allowing that deal to go through is a big political liability on the part of the President. It will also forever put her integrity to doubt, given that no less than a former President has claimed an attempt had been made to bribe him. As such, GMA has no choice. No one will believe she didn't get anything if she lets it through.
This should serve as a lesson to proponents of big ticket projects, who may think that a fast break to the top will clinch a deal. Nothing is certain in this country, specially if it is tainted by rumors of corruption. Even Presidents are helpless to favorably act, unless they are ready to tarnish their image and the way history will remember them. No matter the magnitude of the amount mentioned by Erap, risking political survival does not seem worth it at all.
As a public service, Jancom should just drop the proposal now.
It is not only in America. Australian economy was languishing over two years ago but thanks to the housing sector, it avoided the recession and has recorded one of the healthiest economic growths in the developed world. Australia achieved this and still maintained low interest rates and low inflation even after introducing GST in July 2000.
The secret of the economic success was the introduction of Federal Government’s assistance to FIRST home buyers, mainly young couples. Initially the grant is only A$7,000 per couple. When the danger of recession hovered, the government increased it to A$14,000.
In Sydney where real estate is expensive as compared to the other Australian cities, young families need not have savings in the bank. They can use the government grant as down-payment to buy a brand new house located in the suburbs that is accessible by bus or train. The distance to the city center is about 45 to 60 km but travel is only 45 minutes to one hour.
Monthly mortgage repayment is usually equivalent to the rent of an apartment that they have to give up after moving to the new house. There are a few home builders advertising in TV and radio and eagerly courting young couples to "just move in" without down payment except the grant.
The scheme is so successful that the government is under pressure from the building industry not to abolish the grant even though there is no danger of recession any more. After the election, the Howard government reverted the grant to A$7,000.
Come to think of it, no wonder he was so composed that evening. As it turns out, he had an exit plan and to top it all, he was also in love. We all know Bobi can't sing, even when drunk. But he gamely joined our karaoke style sing along, anyway. He was singing with all his heart, pala.
My hat's off to Bobi. Made to choose between power and love, he chose love. Or did he use love as an excuse to get out of the snake pit? Whatever, this cynical columnist's faith in his fellowmen was boosted by more than a few notches by Bobi. My best wishes to him and of course, to fellow Chronicle alumni, Getsy. They do seem like they were made for each other. I can only sigh, at long last!
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(Boo Chanco's e-mail address is bchanco@bayantel.com.ph)