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Philippine Journalists Inc.
Case Study

Submitted to:
Mr. Jayson Imatong

Submitted by:
Pacdaan, Kriszel P.
Submitted to:
Mr. Jayson Imatong

Submitted by:
Pacdaan, Kriszel P.
October 10, 2014
October 10, 2014

Executive Summary
The Philippine Jour nalists Incorporated (PJI) is the publishing company for The Journal Group of Publications, namely: The Journal, People’s Journal, People’s BagongTaliba, People’s Journal Tonight, Women’s Journal Magazine, and The International Editions thereof. It was incorporated on October 20, 1972 shortly after declaration of Martial Law, with an authorized capital of P500, 000, consisting of 5, 000 common shares with par value of P100 each. From the original incorporators Eduardo Ongsiako, Ricardo Torres, Julie Yap Daza, Manuel Salak, Augusto Villanueza and Reynaldo Naval, it is now incorporated by the present stockholders namely Rosario Olivares and the 14 dummies or agents of Benjamin Romualdez, PCGG/National Government, Rosario Olivares and 8 dummies or agents of Benjamin Romualdez, Luisa Linsangan, and Capital City Realty Development Corporation.
This case has been based on the point of view of the chairman of the board and chief executive officer of PJI (Sgd) Eduardo B. Olaguer that the privatization of the company from the standpoint of the government economic recovery should enjoy priority over the recovery of sequestered shares as ill-gotten wealth.
As of March 31, 1988, the capital deficiency has been reduced to 92.7 million resulting from profitable operations and with a much improved liquidity position despite the heavy interest burden on the DBP loans.

Case Study I. Statement of the Problem
What will the government do to recover the huge negative book value and the DBP loan exposure which is due to the violations of Anti-Graft and Corruption