As a result, Gary Teves desk is beginning to look like a black hole.
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If you need a record of your monthly transactions, you can request for an updated printout.
A teacher by training, Mr. Lotilla hasnt been getting good marks lately from industry players, which claim the country is currently facing a price crisis (where the price of gasoline is rising) and not an oil crisis (where there is a shortage of oil).
Right now, there is only one business paper, BusinessWorld, which was co-founded by Raul Locsin and his wife, Leticia Locsin. Mr. Locsin died about two years ago and Ms. Locsin passed away last Wednesday.
Effective control of BusinessWorld lies with the BusinessWorld Publishing Corp.s provident fund. This is because, sometime in the 1990s, the Locsins transferred their shares to the employees provident fund, which, in turn, annually hand over the proxies to Mr. Locsin, who served as the papers publisher and editor until his death. His widow also served in the same capacity until her death.
As everybody knows, 30 percent of the papers shares are held by the heirs of Enrique Zobel, whose money was accepted by Mr. Locsin only on the condition that EZ would be a passive investor.
A niggling number of shares are held by former and existing BusinessWorld employees, many of whom joined the paper on day one.
Right now, the oldest board member is Bankers Association of the Philippines president and concurrent Rizal Commercial Banking Corp. corporate vice-chairman Cesar Virata. Mr. Virata and Mr. Locsin go back a long way, even before Mr. Virata served as Finance Minister and then Prime Minister during the term of President Marcos.