Thumbs Down?
The timing is just about right: the influential Catholic Bishops Conference of the Philippines (CBCP) said that it will not support efforts to impeach President Arroyo. Quoting paragraph 24.2 of Shepherding and Prophesying in Hope: A CBCP Pastoral Letter on Social Concerns:
“But as Bishops reflecting and acting together as a body in plenary assembly, in the light of previous circumstances, we are not inclined at the present moment to favor the impeachment process as the means for establishing the truth. For unless the process and its rules as well as the mindsets of all participating parties, pro and con, are guided by no other motive than genuine concern for the common good, impeachment will once again serve as an unproductive political exercise, dismaying every citizen, and deepening the citizen’s negative perception of politicians, left, right and center.”
Expect the President’s allies to put their seal of approval on this statement – wait, they already have.
Yet if you read the CBCP’s statement closely, and contrary to what the administration’s allies will tell you, that body of clerics doesn’t close the door on other means in order to find out what the truth is. The CBCP merely recognizes impeachment as a deeply flawed process, and no more.
That body of clerics goes on to say that there are other means to find out what the truth is, but oddly enough, does not tell the faithful what they are.
So much for being unambiguous.
Something for the President and her economic managers to be happy about: Philippine foreign direct investments (FDI) total USD 500 million as of April 2006. That sum might look huge, and indeed it is by any standard, but let’s put that amount into perspective: China attracted USD 18.48 billion during the same period.
The consolidated Philippine FDI statistics may not as be as rosy as they seem, as the month-to-month 2006 FDI figure seems to be shrinking: USD 263 million in January, USD 92 million in February, USD 75 million in March, and USD 70 million in April.
Why on earth anyone wants to smuggle three million Philippine one-peso coins out of the country soil is beyond me, but monetary authorities say these are much sought-after overseas for their metal content.
A numismatist’s site says that the one-peso coin is made up of 75% copper and 25% nickel. With LME [London Metal Exchange - Ed.] copper at a whopping USD 7,775 a ton and LME nickel at an even more astounding USD 25,495 a ton, and still poised to go up some more – well, this is indeed incentive enough.
No wonder I felt my chair shake yesterday morning, and no, it wasn’t because I had too much coffee already: Mild quake hits Olongapo, QC.
The Manila Times published a three-part series regarding medical malpractice in the Philippines: Medical malpractice bills ‘comatose’ in Senate, The malady of mistrust, and Defensive medicine is not healthy.
The labor department reminds all employers in Metro Manila that the PHP 25 increase in the minimum wage begins today.
Philippine franchisors bat for self-regulation, while a US franchising expert recommends the opposite.
This week’s Carnival of the Capitalists is hosted by Fat Pitch Financials, and my favorite post is one about how corporate ethics is alive and well: Corporate Espionage And Corporate Integrity.
