Am waiting for Joe Campos and Adrian Zecha on the Pacific Communications Ltd. sale of the Lopez shares. But Joe correctly demands that if we are going to spend $400,000 (US) each for equity and we are going to look for another $800,000 (US) loan or debentures, the latter should be guaranteed with all the shares of the PCL and the shares of PCL should be divided equally 50-50 and the directors should be two each so that no decision which may mean a loss of the funds can be arrived at without the other partner agreeing.
Joe feels that funds invested means a total loss, even with my explaining that we need an Asian publishing house for the future, for me and the children whom I want to retain their Asian roots.
I asked Cesar Zalamea, Pres. of Phil-American to come back as soon as possible. And he arrives on the 13th. We must wait for him to join Joe Campos in checking the financial statements of PCL as well as determine the viability of the project.
Imelda has been feeling her pregnancy the whole day. She is edgy and irritable. I have had to try and charm her out of her dumps.
Inspected the GSIS [Government Service Insurance System] and SSS [Social Security System] Housing projects including the Moonwalk project at Alabang and Las Piñas—by helicopter.
Then met and congratulated Ben [Villaflor] the new junior lightweight champion of the world.
Official Gazette for May 5, 1972: PRESIDENT MARCOS was guest speaker at the formal turnover of the first 300 of the 20,000 housing units of the Moonwalk Housing Project in Las Piñas, Rizal.
In his speech, the President expressed the hope that the joint venture between the government and the private sector would continue until “we shall have been able to build one house for every Filipino family.”
“As one of the biggest low-cost housing projects under this administration, I hope you will continue building because our housing shortage is very serious,” he said.
The President conducted an ocular inspection of the site, noting with satisfaction the concrete and asphalted streets, the underground drainage, and the sound construction of the housing units.
Among those present at the turnover rites were Rep. Jose Alberto and Gov. Vicente Alberto of Catanduanes, officials of MDHC headed by Mariano Velarde, president; the GSIS headed by General Manager Roman Cruz, Jr.; the SSS headed by acting Administrator Reynaldo Gregorio; and the National Housing Corporation headed by General Manager Gaudencio Tobias.
The President was back in Malacañang in time to receive Ben Villaflor, newly-crowned Filipino junior lightweight champion of the World Boxing Association.
The President congratulated Villaflor for winning back the title held for many years by another Filipino, Gabriel “Flash” Elorde.
After going over official papers in his study in the afternoon, the President had an interview with newsmen covering Malacañang.
[Felipe] Baby Ysmael, the perennial pain in the neck, insisted on coming to see me last night claiming he is leaving for Australia today. So I met him. Of course he was not leaving. And of course he only wanted some favors so he can make money and sell all his property in the Philippines and move to Australia.
Today he threatens all kinds of things if I do not meet him outside the palace. I attach the message sent through Maj. Mayo one of my aides whom I suspect is in his pay.
God protect me from my friends.
Johnny Perez und Pocholo Romualdez were here for lunch to request “exclusives” for the Daily Express which comes out on May 7th.
I agree that they speculate on the pregnancy of Imelda. Imelda was agitated by this as she felt she was being improperly used to promote the paper. However, the story will only be speculation.
And the story of the Libyan military and financial support for the Moslem National Liberation Front through Pakistan.
As well as the confession of an NPA [New People’s Army] caught infiltrating the Ilagas and the Moslems in the fighting in Mindanao.
And the NPA caught in Samar who squealed on the supporters of the communists including Sen. [Benigno] Aquino [Jr.], Gov. [Faustino] Dy and Mayor Bello of Jones, Isabela.