An odd relationship

The relationship between the University of Sto. Tomas and UST Hospital, Inc. is rather odd. You see, these have been two separate entities since 1987. And yet, the hospital continues to drop the name of the school every time it imports, tax free mind you, equipment that costs millions of pesos.

Technically, a tax exemption is granted to a hospital, which is wholly owned by a school offering a medical course so that its students can practice what they have studied on charity cases.

In the case of UST Hospital, it is no longer wholly owned by the Dominican fathers nor does it accept charity cases. (You pay or you don't get attended to, even if it is an emergency.)

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Summit Publishing Co. publisher Lisa Gokongwei is coming out with her 13th magazine early next year. The editorial content of the new magazine, which will focus on the highly lucrative parenting market, will be 100 percent internally generated.

Although it is better known for its successful formula of linking up with foreign magazines, Summit does have magazines that is conceptualized from scratch and brought to the market.

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Bank notes 1: Social Security System president Corazon de la Paz has up to the end of the month to decide if the pension fund will invest an additional P300 million in Export and Industry Bank.

So far, SSS has a P600-million stake in Exportbank or, more precisely, in Urban Bank, Inc. which was liquidated by the Philippine Deposit Insurance Corp. and which Exportbank bought.

To make it more complicated, that P600 million isn't worth much now unless SSS puts in an additional P300 million (so that the entire P900 million will be able to generate enough money).

If she recommends putting in more money in Exportbank, then Ms. De la Paz will have to figure where she is going to find the additional P300 million. Uhm, Ms. De la Paz wouldn't want to dip into the principal money of the pension fund (which is, based on the computation of its actuary department, good for 15 years).

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Bank notes 2: Jan. 1 to 7 is traditionally Bank Consciousness Week. It's also the week when Bangko Sentral Governor Rafael Buenaventura traditionally throws a party which all bank presidents know better than to be absent from.

The party also celebrates the central monetary authority's 50th anniversary. A coffee table book has been prepared for the occasion. Here are some interesting facts abut some of the men who ended up being governor.

• Jose Fernandez Jr. carried in his wallet an Argentinian unit of currency to remind himself what the Philippine peso could end up as if he messed up.

• Jose Cuisia Jr. tendered his resignation three times before it was accepted by the President. In his letter of resignation, Joey Cuisia said his salary (which was then, of course, less than that of the President) and that of his wife, Vicky (who had her own business), were not enough to support their five daughters.

• Gabriel Singson was senior deputy governor for 13 years. But Gabby Singson admits he wouldn't have gotten the top job if his hometown neighbor and close family friend, Fidel Ramos, wasn't elected President of the Philippines.

• Rafael Buenaventura is the only Bangko Sentral governor who remarried in office. He is married to Victoria Rufino.