P20B worth of reasons

In a cost-cutting measure, one of Makati’s best-known hotels have let go their more experienced waiters and have replaced these with pretty raw guys and gals. The result is noticeable drop in the quality of service – something that its corporate regulars are not too happy about.

As for those old-timers? Well, the two nearby hotels have snapped them up.

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Well, well. The Sto. Tomas Hospital has again gotten a tax exemption for its importation of X-ray machines valued at close to six zeroes, in dollars.

That kind of tax exemption is given only to hospitals which are affiliated to the medical school of a university. In short, the tax exemption is given because the imported machines will be used by students during their medical studies.

As everybody knows, Sto. Tomas Hospital hasn’t been affiliated to the University of Sto. Tomas for quite some time now. Okay, so some of the Dominican fathers who manage UST are incorporators of the hospital but, hey, they are not the school.

Because if they are, how come that hospital no longer has a charity ward?

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Bank notes 1: There are P20 billion worth of reasons why some people are currently interested in joining United Coconut Planters Bank, either as a director or as a member of the senior management team.

The P20 billion is the additional capital the bank will receive from government by mid-June (or end-June at the latest).

If properly channeled, the money will make the bank more competitive in terms of buying new technologies and of increased training for existing manpower. (As the country’s first universal bank, there was a time when the bank was very much in the loop.)

If improperly channeled, the money can always bankroll more board meetings and, uh, on-site client meetings in Paris and New York.

As everybody knows, Cocobank chairman and chief executive officer Edward Go has wanted out for some time.

The three-man committee, who will decide Eddie Go’s replacement as well as other very senior appointments in Cocobank, is made up of Finance Secretary Jose Isidro Camacho, Philippine Deposit Insurance Corp. president Ricardo Tan, and Presidential Commission on Good Government chairman Haydee Yorac.

Lito Camacho will report back for work this coming Monday, June 9.

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Bank notes 2: Several agencies of the United Nations have leased space in this bank main office building. You see, the building is said to have excellent security, both within and within.

On the downside, executives of these UN agencies have been complaining about the executive lounge, which offers so-so food and service so bad that some of the diners have had to stand up and tap the shoulders of waiters just to get their bills.