One happy ‘ex-president-to-be’

Did you know 1: The First Resources Management and Securities Corp. founder Vivian Yuchengco has been back in town for at least a week and is unusually quiet, considering that so-called friend and chairman of the Securities and Exchange Commission Lilia Bautista gave the go-signal for an SEC team to visit the office of First Resources and to look at its first quarter stock markets transactions only last month.

Everybody, of course, knows that Ms. Yuchengco flies off to the United States every July for her annual medical check-up.

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Did you know 2: Smart Communications head for personal and mobile services Anastacio Martirez takes calls for his children even during important meetings.

Given that his business schedule is so tight that he often gets home past his kids’ bed time, Boy Martirez keeps in touch via his cell phone and helps out with their homework.

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It’s no secret that Corazon de la Paz accepted the job as president of the Social Security System two years ago because nobody else wanted the job.

Neither is it a secret that Cora de la Paz would be one very happy "ex-president" once President Macapagal-Arroyo names her successor, admittedly a difficult job because there isn’t exactly a long line of applicants.

For one, the pension fund has a lot of problems, including financial. For another, the SSS president is one of only two heads of government financial institutions covered by an executive order that sets their monthly pay at less than the P40,000 received by their immediate supervisor, the Secretary of the Department of Finance.

The other GFI head getting less than Finance Secretary Juanita Amatong is Development Bank of the Philippines president and chief executive officer Simon Paterno.

By the way, the salary cap does not cover the directors of both SSS and DBP.

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As part of its anniversary celebration this month, Land Bank of the Philippines yesterday held an open house/expo, where the bank’s different divisions – including the Office of the President, which president Margarito Teves is slowly turning from a cost center to at least a neutral revenue center – showcased the different products/services it offers clients.

Landbank traditionally caps its celebration with its Gawad Pitak awards for best bank-assisted cooperative. This year, the bank has added another category – that for best entrepreneur.

This year, the awards will, however, be given sometime in September, subject to the availability of its new chairman, former Agriculture Secretary Luis Lorenzo Jr. (who continues to hold office at the Department of Agriculture while his successor, Arthur Yap, can be found at the National Food Authority) and, more important, the President.