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For your further information, we hereby quote the pertinent portion of the Approved Minutes of the Special Board Meeting of PSBA, Inc. – Q. C. that was held on March 19, 2010 at the Board Room of PSBA, Inc. – Q. C. located at 1029 Aurora Boulevard, Q. C. (This information is made available to the public to notify any concerned parties for whatever purpose it may serve them).

(4)   Resolved, as it is hereby resolved, that previously approved Resolutions of October 10, 2008 Board Meeting, namely, Numbers 1 and 2 and Resolution number 5 of January 30, 2009 Board Meeting shall be maintained in toto. These previously approved resolutions of the aforementioned Board Meetings are quoted as follows:


“    No. 1 – Resolvedthat be it approved, as it is hereby approved, at the beginning of the second semester of Academic Year 2008 – 2009, the School shall maintain for its collegiate courses the six-day class schedule per week as provided for in the Manual of Regulations for Private Schools. Thus, in any given semester, for a three-unit subject, the required three class-hours sessions shall be equally allocated either over the days of Monday, Wednesday, and Friday (M-W-F), or over the days of Tuesday, Thursday and Saturday (T-TH-S); for a six-unit subject, the required six hours sessions shall be equally allocated either over the days of Monday, Wednesday and Friday (M-W-F), or, over the days of Tuesday, Thursday and Saturday (T-TH-S) and for any Summer Term, the required hours per week, for any given subject, shall be equally distributed over the days from Monday to Saturday (M, T, W, TH, F, and S). Resolved further, that it shall now be strictly prohibited to combine two or more collegiate classes into one for the simple reason that the teachers’ effectiveness to impart and the ability of students to learn, absorb and / or assimilate lessons are negatively and / or adversely affected;


      No. 2  Resolved, that effective at the beginning of the Second Semester of Academic Year 2008 – 2009, the enrollment information or data, for collegiate students only, posted on officially designated Bulletin Boards shall include not only the specific Class Subject, Section, Room Assignment, Class Hours or Time, Class Days, but also the Names of the Faculty Members who are assigned to handle or teach the given Subjects in order to enable the Students to exercise their Basic Right or Freedom to choose who shall be their teachers or mentors;”


 “    No. 5  Resolved, as it is hereby resolved, that the School shall maintain its present policy on the scheduling of classes on the basis of  six class days per week whether it is  for any Semester or any Summer Term as required for Collegiate Classes as provided for by the Manual of Regulations for Private Schools, as well as, maintaining its policy on the posting of the names of Faculty Members assigned to “class subjects” in any Semester or Summer Term as embodied in PSBA’s Board Resolution Numbers 1 and 2 as approved in a Board Meeting held on October 10, 2008. It is further resolved, that the “Joint and Consolidated Appeal / Request” of certain groups of Students and Faculty Members for the alteration or modification of the School’s policies as embodied in the aforementioned Resolution numbers 1 and 2 has been turned down by the Board of Directors. The reason is that such change or changes in the aforementioned School policies might jeopardize not only the interest of the School but also all other parties that are depending on the continued existence of PSBA considering that the principal issue in the pending five (5) labor cases filed by retired Faculty Members against the School is precisely the divisor that is used in the computation of retirement benefits. As provided for under the Manual of Regulations for Private Schools, for Tertiary / Collegiate Schools, one (1) Collegiate Academic Year is equal to two hundred fifty-two (252) days à (252 days consist of 36 weeks for 2 Semesters plus 6 weeks for Summer Term is equal to 42 weeks for 1 Academic Year multiplied by 6 days per week equals a product of 252 days…the official divisor to arrive at the daily pay rate of teachers). The reduction of the divisor of two hundred fifty-two (252) days per year to any lower figure will result to a divisor for the computation of the daily rate of pay that is financially adverse to the School because such a decrease in the divisor will result to an increase in retirement benefits by as much as two (2) times or more than the present manner of computation of Retirement Benefits. It follows therefore, that any revision of the present Schedule of Classes will result to an enormous increase in the Faculty Retirement Benefits which in turn shall hasten the end or complete cessation of the School’s operations.”

To All Concerned Parties of the

Philippine School of Business Administration – Manila

826 R. Papa St. Sampaloc, Manila

Please do not believe rumors that cast doubts on the memorandum of President Jose F. Peralta, which he issued on April 14, 2008, informing all concerned that he had assumed, effective immediately, all the duties and responsibilities of the Dean for the Undergraduate Studies and the Director for CPA Review. This Memorandum is hereby affirmed by the Chairman of the Board of Directors of PSBA – Manila, as the basic truth.

Thank you for your kind attention and your cooperation.

CHED's Official Stand:

The Commission on Higher Education has sent a letter to the President of the Philippine School of Business Administration regarding its position on the controversey.


The letter states that: This has reference to a press release at the Philippine Daily Inquirer on October 02, 2006 which states that the Commission on Higher Education (CHED) will conduct its own investigation of the alleged diggings carried out by treasure hunters in your campus. Please be informed that the undersigned has not authorized any conduct of CHED investigation on that matter. For your information and signed by the Chairman of CHED, Dr. Carlito S. Puno


The School is not going to close. Feel free to download the electronic scanned document below to see the official document received by the Office of the President of the Philippine School of Business Administration.

Click here to download file

No closure for PSBA, says QC Mayor - Belmonte:

The Quezon City government will not issue a closure order against the Philippine School of Business Administration (PSBA) for its alleged illegal diggings or excavations.


Mayor Feliciano Belmonte Jr. issued the statement following the outcome of the investigation conducted by the city's Department of Public Order and Safety last May 05,2006 and June 06, 2006 where the department found no traces of any illegal diggings or excavations inside the business school.


"I did not issue any order and I will not issue any closure order pertaining to the PSBA on the alleged illegal excavation issue as there is no evidence that it took place," Belmonte said.


The PSBA main building located along Aurora Boulevard, the mayor saidis safe for the students and faculty members contrary to earlier reports that it has weakened due to said digginbgs purposely for the treasure hunting.


He said that there is no need for the Commission on Higher Education (CHED) to worry on the fate of the students presently enrolled at PSBA since no transfer of students to other institutions will take place.


Earlier, Dr. Carlito S. Puno, CHED Chairman, asked the PSBA for a contingency plan in case the closure order is enforced by the city government.


Belmonte, at the same time, stressed that the council had not taken any position regarding the speech of Councilor Dante de Guzman entitled "Gold in the City," which he delivered last June 05 at the Carlos Albert Session Hall during the privilege hour.


The city council report, the mayor said, merely "noted" the resolution adopted by the Blue Ribbon Committee, meaning that the council simply acknowledged the existence of the measure with no official action being undertaken.


For his part, majority floor leader Antonio Inton Jr. disclosed that he and other city councilors had already expressed opposition to the move of council's Blue Ribbon Committee chaired by Councilor de Guzman for the closure of PSBA.


Inton said that the closure issue of the business school was already a "closed issue"after Belmonte declared no illegality on the reported diggings inside the school campus.


"The illegal excavation issue is already closed after the report from DPOS yielded negative traces and Mayor Belmonte had already taken a position on this issue. There is no need for students and faculty members to worry," Inton said.


Sources: Manila Bulletin, Tuesday, September 12, 2006 Page 2 by: Sel A. Baysa and The Philippine Star, Tuesday, September 12, 2006 Page 14 by: Perseus Echeminada

CHED distances self from school treasure dig row

The Commission on Higher Education (CHED) yesterday distanced itself from the controversey surrounding the Philippine School of Business Administration (PSBA) on the alleged treasure-digging inside the school campus in Quezon City.


CHEd chairman Carlito Puno said the agency has no authority to close down PSBA as petitioned by Quezon City Councilor Dante De Guzman III last Monday.


Puno Said CHED has no power to order the closure of schools with structurally defective buildings reasoning out that the agency's jurisdiction is limited to curriculum issues.


Puno said that the petition should be sent instead to Quezon City engineering officials because the issue concerns building codes. De Guzman's petition was based on QC council's blue ribbon committee resolution recommending PSBA's Quezon City campus' temporary closure.


The resolution was made after an invstigation was conducted. It reported that several tunnels were dug inside the campus on Aurora Boulevard in search of the fabled Yamashita treasure.


Reports said that the school's owner alegedly excavated tunnels in the compund several years ago based on a treasure map from World War II.


De Guzman said the tunnels pose danger to students and occupants because these might cause PSBA's structures to collapse.


Source: Manila Bulletin, Thursday, September 07, 2006 Page 5 by: JC Bello Ruiz

QC Council rows over 'Yamashita Treasure'

Quezon City Council Majority Floor Leader Ariel Inton registered his strong opposition yesterday to the recommendation of the city council's blue ribbon committee to close Philippine School of Business Administration (PSBA) in Aurora Avenue.

"I am appealing to my colleagues in the city council to be cautious and use their sense of fairness in dealing with this issue," Inton said.

Earlier, the city council's blue ribbon comittee chaired by Councilor Dante De Guzman recommended the temporary closure of PSBA to give way to an independent probe into the alleged excavations made in the school campus to recover the Yamashita treasure.

Inton said "the City Council should not allow itself to be used in the intra-corporate dispute of the PSBA board," as this is a fight between majority and minority members of the Board of Trustees of PSBA that the council should never entertain."

He said that the safety of the students should be the welfare of all. "The danger being peddled by those who want to ruin PSBA is only imaginary." "Let me assure everybody especially the students of PSBA as well as their parents and to all concerned, that the PSBA is standing on a strong ground and it is not about to collapse," Inton said.

He said the issue is already closed after Quezon City Mayor Sonny Belmonte previously said that there are no illegal excavationsin PSBA as verified by the city's public order and safety department probers sent by its head Manuel Salbaza on May 5, 2006 and June 6, 2006.

"Let us abide with Mayor Belmonte's view to finally put this issue to rest," Inton said. Councilor Restituto B. Malangen also branded as "useless" and "baseless" the proposal of the city council's blue ribbon committee on the controversial digging inside the compound of the PSBA in search of the treasure.

Councilor Restituto B. Malangen, president protempore, said the recommendations raised by the committee, headed by Councilor Dante De Guzman, "is a waste of time, money, and effort." He said that De Guzman's committee made the recommendations on the heels of a denial by Mayor Belmonte of the existence of the Yamashita hoard inside the PSBA compound.

Malangen said the mayor has sent a team to verify the reported excavation and found negative traces of any illegal diggings. Earlier, De Guzman's committee urged Mayor Belmonte to engage the services of an independent contractor to check the presence of the fabled Japanese treasure.

Also, the committee asked the Commission on Higher Education (CHED) to look into the matter in consideration of public safety and welfare. A separate investigation was sought for the Office of the President, through the Department of National Defense (DND), the Department of Environment and National Resources (DENR) and the Department of Justice (DOJ) for the possibility of the existence of the treasure "or any wealth underneath."

Malangen said the committee has sought the temporary closure of the PSBA while the probe and the incidental diggings are going on. It was learned that a faculty member exposed the alleged digging saying it has no permit and endangered the lives of the students and employees owing to the building collapse.

The site of the PSBA was used to be owned by President Manuel Luis Quezon, a suspicion that a part of the Yamashita treasure could have been buried within the school grounds. De Guzman said his committee would recommend the closure of the School if the building is found to be in danger as a result of the excavations.

Source: Manila Bulletin, Tuesday, August 08, 2006 Page 5 by: Sel A. Baysa

Chairman of the Board of PSBA Resigns
Florencio I. Lim the current Chairman - Director of both PSBA - Manila and PSBA Inc., - Quezon City has submitted his resignation letter on April 01, 2006. The scanned document below is available for the guidance and information of all parties concerned.


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