Altered suits

Bank notes 1: When he lost about 40 pounds, Government Service Insurance System president Winston Garcia opted to have his suits altered – judging from their fall, not too successfully in some cases – rather than to buy new ones.

Money has not been, of course, a factor in that decision. After all, Mr. Garcia comes from a well-off family, his father being the third-term governor of Cebu.

Mr. Garcia has maintained his weight by eating itty-bitty portions of whatever food is on the table. He doesn’t exercise (or, at least, nobody has seen him exercise).

In contrast, HSBC (Phils), president and chief executive officer Warner Manning has had to work harder at not adding to the weight that he successfully lost last year – through lots of sweating in the gym and cutting back on the number of Hobbit-like meals that he takes every day.

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Bank notes 2: Banco de Oro Universal Bank chairman Teresita Sy-Coson and Equitable PCI Bank chairman Antonio Go were said to have entertained thoughts of not attending the annual New Year reception hosted by Bangko Sentral Governor Rafael Buenaventura for the banking community.

You see, Tessie Coson and Tony Go didn’t want to take the limelight away from Paeng Buenaventura, who may or may not have hosted his last New Year reception even though his six-year term ends in mid-2005.

Being well brought up people, however, Ms. Coson and Mr. Go felt it would be impolite to cancel their RSVPs and so they attended Wednesday’s cocktail – knowing full well that everybody wanted to get the lowdown on Banco de Oro’s plans as the new significant stakeholder in EPCIB.

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The very shy Antonio Tan Caktiong has been persuaded to greet President Macapagal-Arroyo during this coming Monday’s inauguration of Jollibee Foods Corp.’s main commissary in Canlubang, Laguna.

The commissary, which is headed by long-time employee Belen Billo, is capable of supplying the needs of 800 outlets, more than double the 300 outlet capacity of the old commissary in Pasig.

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There’s something to be said about Lance Gokongwei being the president of all companies under JG Summit Holdings Corp. – the decision-making process is incredibly fast.

In large part, this could be traced to the scheduling of weekly board meetings of various JG Summit corporation, leading to the final approval on Fridays at the very top (that’s the JG Summit board chaired by James Go and attended when he is in town by Mr. Go’s brother, John Gokongwei Jr.)

In the case of Robinsons Land Corp., for example, the set-up has allowed Mr. Gokongwei and his first cousin, executive vice-president Frederick Go, to negotiate for the purchase of a huge tract of land in Fort Bonifacio in a matter of weeks. The feasibility study followed after the deal was closed and cash was exchanged.

Equally quick is RLC’s first Fort Boni project – the 38-story residential condominium called 5th Avenue Place.