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'US financial crisis can't stop Pacquiao-De La Hoya fight'
By Danyeva Grace C. Donato
PhilBoxing.com
Sat, 27 Sep 2008
"The fight between Manny Pacquiao and Oscar De La Hoya will proceed as scheduled on December 6 in Las Vegas, Nevada and the current financial crisis that hit New York City will not affect the multi-million promotion."
Thus was the statement made by respected businessman-sportsman Daniel P. Sumagaysay in a sports forum dubbed "Ilonggo Power" at the Danny's Restaurant and Catering Services in Pototan, Iloilo yesterday (September 26).
Sumagaysay, 52, said "incidentally, New York City will host the fight's promotional kick off tour on Oct. 1."
He said America, the world's strongest economy, "can withstand the current crisis and there is no need to press the panic button." Americans, Sumagaysay said, "are among the most relaxed people on earth and they always treat as challenge any crisis that come their way."
Sumagaysay echoed the sentiments of Counselor for Economic Affairs Larry L. Memmott of the Embassy of the United States of America, who had earlier dismissed as "exaggeration" reports that the US economy is in tailspin as reported in giant media networks early this year.
"The issue has been exaggerated," he quored Memmott who visited Iloilo City mayor Jerry P. Tre?as in city hall last January 29. "Economist should study business cycle because sometimes the economy go up and down."
Dr. Kurt Richebacher, in his analysis for the US recession, stressed that trying to assess the situation and further growth prospects of the US economy, the first important fact to see is that the US economic recovery since November 2001 has been by far the weakest in the whole postwar period.
Click here to view a list of other articles written by Danyeva Grace C. Donato.
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