Seafarers to weather shipping storm

By DENNIS GADIL

The country’s seafarers face a brighter 2009 than their land-based counterparts and despite the slump in global shipping. They have the chance of cornering the bulk of the estimated 12,000 available jobs that are waiting to be filled until 2012...(more)

Budget deficit seen to bloat

By DENNIS GADIL

The government could post a budget deficit wider than the target of P102 billion this year as it steps up spending to shield the economy from the global downturn, finance secretary Margarito Teves said... (more)

Garcia scrubs Philamlife bid

By DENNIS GADIL

Government Service Insurance System president Winston Garcia talked down Philippine Ameircan Life and General Insurance Co., saying he is dropping his bid to buy the American International Group (AIG) subsidiary... (more)

Teves for infra; Roxas for cash

By Dennis Gadil

Finance secretary Margarito Teves yesterday said that he prefers to spend money on infrastructure programs to help pump prime the economy as against financial dole outs...(more)

Success

$1.5B bond float 4 times oversubscribed at 8.5%

By DENNIS GADIL

The Philippines successfully floated $1.5 billion 10-year bonds yesterday... (more)

A Bro. Mike-Erap team-up in 2010?

BY DENNIS GADIL

A GROUP headed by Jose Pardo, an ally of former President Joseph Estrada, is wooing El Shaddai leader Bro. Mike Velarde to run for president in 2010 with Estrada as running mate.

A Senate source said Pardo’s group is said to be on the verge of convincing Velarde to accept.

Pardo served as trade secretary under the Estrada administration and was Estrada’s "communication line" to Velarde during his presidency in 2001.

Velarde and Pardo both reside in Ayala Alabang in Muntinlupa.

The source said Pardo’s group cooked up the idea to skirt any possible hurdle that Estrada may face with the Supreme Court should he decide to run again in 2010.

The Constitution bars a second term for a president but is vague if an ousted one could still run again.

"They (Pardo’s group) are just pragmatic. The possibility of any technicality to run for President is always there. That is very risky for Estrada. They want a sure victory for the vice presidency," the source said.

The source said the Velarde-Estrada tandem remains "exploratory" and would depend on the imprimatur of the former president.

But the source said both camps are "receptive" to the idea and are open to more consultations on the proposal.

"Gusto kasi ng ibang nakapaligid kay dating Pangulong Estrada na makabalik sa puwesto sa tulong ni Bro. Mike na masaya naman na sa kanyang trabaho ngayong maglingkod sa Diyos at sa mga tao," the source said.

The source said Pardo’s group believes that Estrada’s possible presidential bid will lead to a "disaster" as the Supreme Court may declare his candidacy unconstitutional citing a constitutional prohibition against an elected president running for a second term.

In September 2007, the Sandiganbayan Special Division convicted Estrada on plunder charges but he was granted presidential pardon the following month.

Estrada has said he would again seek the presidency in 2010 if the opposition cannot field a common candidate.

This early, only former Senate President Manny Villar of the Nacionalista Party and Makati Mayor Jejomar of PDP-Laban have declared they would seek the highest position in the land.