Business, like power, abhors a vacuum.

Businessmen prefer continuity or consistency of existing policies, particularly governing trade and industry.

And since the President sets the national agenda, he is also the chief determiner of national outcomes.

Therefore, the ability of the President to execute his office is closely watched by the business community.

Such particular attention is not given to the other top leaders of the national government like the Vice President, the Senate President, the House Speaker, and the Supreme Court Chief Justice who are in the constitutional order of succession when the President is no longer able to discharge his functions.

Considering this order, the SC CJ, therefore, has the least chances of succeeding to the presidency since all three other officials on top of him had to  be rendered incapable to assume the office before he could do so.              

And so we agree with the Trade Union Congress of the Philippines’ assessment that the impeachment trial of Chief Justice Renato Corona would not negatively affect the Aquino administration’s efforts to draw in foreign direct investments badly needed to create jobs.

“Our sense is, there is zero risk the trial will dampen investment growth and job creation in the months ahead,” said TUCP president and former senator Ernesto Herrera.

“Business cost is the biggest driver of investment growth. Right now, the cost of doing business in the Philippines remains highly competitive relative to other countries,” said Herrera, former chairman of the Senate committee on labor, employment, and human resources development.

“The impeachment (trial) of the Chief Justice is part our democratic process. Regardless of the outcome of the trial, our institutions and our democratic way of life will be reinforced, not weakened,” he said.

“Our advantage is that President Aquino obviously enjoys considerable public support. Under the circumstances, there is no chance the trial will spill over into the streets,” the veteran labor leader said

“We do not see the trial eventually stirring some form of political instability that may drive away potential investors,” he added.

Meanwhile, Herrera allayed fears that a US bill seeking to forbid US companies from relegating jobs overseas would threaten the expansion of the Philippines’ booming business process outsourcing industry.

“The bill will never be passed by the US Congress simply because the ability of (US) companies to outsource jobs to lower-cost locations such as the Philippines has allowed those firms to save more jobs in America,” the former lawmaker  said.

“Politicians in the US are merely playing up the bill now because of the approach of the November elections there,” he said.  “Once American firms are barred from outsourcing overseas, those same companies will be under intense pressure to cut more jobs in their home operations to stay profitable. So the American companies themselves are working to prevent the bill’s passage.”