opinion

First PH industrial summit

August 16, 2019

PHIVIDEC Industrial Authority Administrator and CEO,  Lawyer Franklin Quijano has laid down a vision for Mindanao – place the island in the pedestal of  industrial  revolution.       That said, a PR blueprint has recently been laid out  by PIA Administrator Quijano for the conduct of the  first ever Philippine Industrial Summit on November 25-27, 2019 to be held at KetKai Luxe Hotel in Cagayan de Oro City.       Aimed to entice  key players and champions of industry, the summit will kick-start  an industrial development which Administrator Quijano  has been dreaming  to happen in the country,  particularly in Mindanao – to push the region forward to the next level of economic progress.      Through the years, there never was enough economic development   in Mindanao  basically  aimed at improving   infrastructure, enhance connectivity and ensure balanced economic activity alongside other growth centers in the country.      In this three-day business convergence, captains of industries   are expected  to unlock    their power to fuel  Mindanao as the next mecca of industrial development   in three key areas of economic growth.      First,   make Mindanao globally competitive  by improving  connectivity and access to local and global markets.       Second, invest in manufacturing, agriculture, electronics,   tech voc and other business related  programs   that will propel Mindanao’s  march to sustainable socio-economic development.      And third,   make Mindanao globally-competitive through the placements  of advanced technologies and trends by luring   drivers of   industries to  locate permanently their investments in Mindanao.      The challenge is now up for Mindanao -- to pursue socio-economic development initiatives through the four development corridors:  Northern Mindanao Development Corridor, Southern Mindanao Development Corridor, Western Mindanao Development Corridor, and the Bangsamoro Development Corridor.      These growth corridors are perceived as it were to provide   greater access and connectivity that can reduce transportation costs, raise the level of income, provide job opportunities and improve the competitiveness of farmers and  producers alike.      Moreover, global industries that would generate jobs and infra projects  consisting of ports and airports improvements, inter-regional and intermodal roads, bridges, and roll-on, roll-off shipping facilities, among others are expected to highlight during the envisioned convergence of captains of industries.      This summit is in support of the economic agenda and policies  of the Duterte administration viz-a-viz its build, build, build infrastructure mantra  --  sustain economic growth through   access in business opportunities for the country in particular,  and the island of Mindanao in general.       Easier said, but it can be done.  What we need is political will. (ruffy44_ph2000@yahoo.com)

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Going strong at 70

August 12, 2019

2019 marks two important milestones  – the 70th year of central banking in the Philippines and the 26th anniversary of the Bangko Sentral ng Pilipinas.       Established by virtue of the Central Bank Act of 1948 – which was signed into law by President Elpidio Quirino, the old Central Bank of the Philippines officially commenced operation on January 3, 1949.       Prior to the existence of the Central Bank – from which the current Bangko Sentral ng Pilipinas (BSP) traces its roots - the oversight functions over the country’s monetary system was carried out by the Department of Finance and the National Treasury.       The Central Bank’s first Governor was former Finance Secretary Miguel Cuaderno, Sr.         Cuaderno was followed by a long line of governors, to wit:       Era of the Central Bank of the Philippines (1949 to 1993) – Andres V. Castillo, Alfonso T. Calalang, Gregorio S. Licaros, Jaime C. Laya, Jose B. Fernandez, Jr. and Jose L. Cuisia, Jr.        Era of the Bangko Sentral ng Pilipinas (1993 to the present)  – Gabriel C. Singson, Rafael B. Buenaventura, Amando M. Tetangco, Jr., Nestor A. Espenilla, Jr. and Benjamin E. Diokno.       Late last month, the BSP celebrated the twin milestones with the release of the book -  “The Story of Philippine Central Banking: Stability and Strength at Seventy”.        The book was authored by a team of career central bankers who  put together a compilation of comprehensive and insightful essays on various aspects of the bank’s mission and operations over the past seven decades.       They  discussed how the BSP managed the challenging domestic and international economic environment based on the three pillars of central banking.      The book’s principal authors and co-authors were:       -Governor Benjamin E. Diokno, Monetary Board Member Juan D. de Zuñiga, Jr.,  Deputy Governor Diwa C. Guinigundo, Deputy Governor Ma. Almasora Cyd N. Tuaño-Amador, Deputy Governor Chuchi G. Fonacier,  Deputy Governor Francisco G. Dakila, Jr.,       -Senior Assistant Governor and General Counsel Elmore O. Capule, Senior Assistant Governor Maria Ramona Gertrudes T. Santiago, Assistant Governor Wilhelmina C. Mañalac,       -Senior Director Thomas Benjamin B. Marcelo, Senior Director Rosabel B. Guerrero,       -Director Dennis D. Lapid, Director Jayzle D. Ravelo, Director Raymond O. Estioko , Director Eleanor S. Turaray,       -Bank Officer V Faith Christian Q. Cacnio, Bank Officer V Michaela G. Alvarez,  Bank Officer V Marites B. Oliva, Legal Officer IV Katrina Anne T. Limbohai-Alcion, and Legal Officer IV Nicolo F. Bernardo.        During the book launch – which was attended by members of the banking community including past members of the Monetary Board – Governor Diokno said the journey of the central monetary authority  has not been easy.       “There were twists and turns, bumps, even detours but we held on and stayed on track.”      Diokno was referring to a chronology of challenging events which adversely impacted the Philippines – the oil shocks of 1973 and 1979, the 1983 debt crisis, the ensuing political and economic crisis in the aftermath of the assassination of Ninoy Aquino, the 1997 Asian contagion, the 2000 dot.com bubble burst, the Philippine  fiscal crisis, and the 2007-2008 global financial crisis.      The refurbished central monetary authority – now called the Bangko Sentral ng Pilipinas  or BSP - managed to cope with the challenges and turn the situation  around, in the process even  succeeding  in obtaining for the Philippines an investment grade status.       Today, Diokno asserts, “inflation is tame…. banks are robust …. and the exchange rates remain consistent with macro fundamentals of growth.”      The recently approved amendments to the charter of the Bangko Sentral, Diokno claims,  further enables the BSP “to cope with constantly evolving challenges” and “bolster our ability to safeguard the stability of prices.”      In his own article, Diokno paid tribute to his eminent predecessors, “who bequeathed to us the strategic vision to help improve the life of Filipinos through the central bank’s policies and programs.”      He pledged “to pursue the late Governor Nestor “Nesting” Espenilla, Jr.’s reform agenda on financial inclusion, financial learning, and consumer protection, while leveraging on financial technology.”      With deserved pride, Diokno announced that the BSP again emerged as No. 1 among 69 public institutions, which were recently rated  by the Makati Business Club.       “This is the 25th time that the BSP has been given this seal of good housekeeping. In the latest survey, the respondents gave the BSP a satisfaction rating of 97 percent,” Diokno said.       Note: You may wish to share the foregoing article via Facebook, Twitter and/or Linked-in.

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Money laundering feng shui

August 12, 2019

Now a way of life or religion even for the elites in societies globally, with ill or well gotten wealth, money laundering should be taught in college as a major subject if not an elective!      Not to discriminate the poor but to help them!      Let alone guide the successors of the doers of the trade and most of all the tricks of the trade!!! Unless a new subject called Dummy Entrepreneurship is introduced by any leading or lagging university or rinky dinky college.      Why? Money Laundering is the new engine of economic growth never mind development in this generation of patriotic crooks! Pardon the pun just read for fun even if you know it's true.      I am writing this to at least make it lucky and help spur employment promotion just as a consequence of money laundering. Take it from the phenom of migrant workers in Philippines from China, just ponder on whose monies are they washing internationally and of course, locally!!!      What are you bureaucrat capitalist for my shrewd government official reader? And your cronies or accomplices? Yes beyond Eddie and Patty! Let's cut the chase.      Shall I proceed? First choose your money laundering channels well. Make sure the business fits your element and zodiac! If rat, avoid horse breeding and horse racing! If rabbit, avoid cock breeding and cockfighting let alone franchising chicken barbeque restaurants like a recent election loser who owns over two dozen Mang You Know!      Next choose your dummy or dummies well to avoid blowing your cover, betrayal and embezzlements! If pig never choose a snake dummy or front best a tiger sign even for a bag man or woman.      Yes even if you are a president incumbent or former in a firm or country use Feng Shui in this rogue investment vehicle. Even in proper date signing of Dummy documents one foot away from any representative. Never ever sign on a February 4 or date with 2 and 4 as it is di si in Chinese or you die easy with that move. If president you can be impeached if not subjected to scam or betrayal or double cross let alone assasination.      Never invest in a Chinese Ghost Month!      You will be spooked.      These simple guides with a professional genuine expert may help you launder smoothly in a balanced efficient portfolio.      Or else, it's not too late to Feng Shui your jail like I unintentionally had to do for a certain Janet in Sta. Rosa for my lawyer client who happened to be her barrister!      Look around, teeming retail malls, condos, restaurant chains, horse stables, schools, foundations, they may be money laundering vehicles frying you in your own taxes! But that's life. Even taipans now sideline as money laundering dummies for the money of course, one to build empire, while a man-she a harem of toy basketball...players!      Go with the flow? Who said change is coming? Go with the change, yes even if it's loose change.      For even in Feng Shui it doesn't matter if a cat is black or white as long as it catches mice! So bring home the bacon. Even loose change is viand. In street smarts Tagalog: ulam din Yun.      Yes welcome to the real world jungles of survival of the fittest no matter what. Just bubble your luck to success and good fortune but in this case provide and multiply employment for national progress and tongue in cheek fingers crossed, prosperity!

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Have governance, expect real family unity

August 5, 2019

I received a deluge of frantic emails related to my previous articles (“What If You Died Tonight” and “Nothing Is Uncertain except Death”).  More than half of the messages came from next generation members desperately fearful of the dire consequences of suddenly losing a business leader. Additionally, most of them also felt a feeling of inadequacy and helplessness because of the patriarchal shadow enveloping their decisions.      On the other hand, the other half of the messages came from worried senior generation leaders expressing unhappiness with the way the children have managed the business. One patriarch in his 70’s even remarked that he felt great sadness because the children (and in laws) acted as if they owned the business even though they never experienced hardships.      Summarizing my email exchanges clearly points to the twin evils of family owned businesses:      The senior generation’s way of control or “patriarchal shadow” and      The Next generation’s work attitude and sense of entitlement      Every family I coach all over the world is in agreement that good family and business governance go hand in hand with sustained benefits that can last for generations. The question is how committed are family members especially the business leader in initiating real change?       In my recent engagement in Istanbul, Turkey, a business owner shared a question: “Professor, we all know the importance of governance and succession and there is no question all of us in this room aspire to be 100-year old companies someday. However, with all the issues considered urgent, how can I worry about governance, succession and ownership transfer when I have a business to run, creditors to manage and bills to pay?      My answer is clear… always start the process with simple steps but make sure you position family governance and succession at the top of your priority list. There is a Chinese saying, “the journey to a thousand leagues begins with one step” and it holds true in creating legacy building measures. I need to reiterate that even the best family businesses work hard at relationship building.      To jumpstart governance, family members must understand what the company's mission is, what its short-term goals are and how it relates to their individual job descriptions. They must also know their boundaries. To determine the latter, a system that encourages open communications must be fostered by the business leader.      Trust me, communication helps build good relationships enterprise-wide.      I must warn you, though – encouraging open communication has its temporary setbacks. You will expect siblings or cousins to raise memories of past hurts related to how they were treated differently and unfairly. That said, will you just sweep the issues under the rug? How would you confront these “elephants in the room”? Will you just suffer in silence and prefer temporary peace knowing that at some point, these forbidden issues can surface and create tension amongst family members? What if you are no longer around when tension erupts?      And if you choose to ignore these issues now, what is the likely scenario that these problems will escalate? The risk is just too high to set aside these problems!      So if you believe these issues can compromise family harmony and impede the operations of the business, they must be dealt with now, not later. I know these are not easy issues to deal with, so it is in the best interest of families to rely on family-business experts to help family members navigate through these difficult “terrain”. Let me close with this message, “Action may not always bring happiness, but there is no happiness without action”.        esoriano@wongadvisory.com

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Marriage feng shui

August 5, 2019

In marrying never pick a rock and hit your head. So goes the Feng Shui advice for marriage.      How and why?      It evolves from Chinese tradition in Feng Shui!      What is this tradition?      It is the materialistic pursuit of wealth for a family and keeping the wealth within the family as well as improving it through fixed intermarriage.      Thus in ancient times we read or hear of arranged marriage between heads of families be they royalty or common folk to achieve this survival plus growth objectives!      In Philippines like other countries, this was seen in intermarriage of tribal clans and eventually rich families that became the elites of Philippine society!      Urban legend in Chinatown, Manila would be the Ty and Tan arranged marriage of son and daughter for a strong "Titan" family alliance and greater prestige let alone status and "face" in the niche of Tsinoy society.      Sometimes in modern times it is born out of common interests bound by corruption and money laundering! As in the case of a rogue Taipan daughter matched for marriage with say the ghost projects' queen's crown prince. What a discovery???      Marriage can mean many things even in Feng Shui. Marriage by convenience for citizenship, or yes, true love or simply to make parents happy as well as fear of being disinherited!      But let's face it, marriage has a price behind the prize.      That's why the bottom line of marrying into wealth is a hard and fast Feng Shui principle.      Adding value to the family assets thru marriage is a common pursuit.      But not an easy one as in Feng Shui this requires that the couple be Feng Shui compatible. Thus the math rule of it is unlucky to marry someone of the same sign or your opposing zodiac sign in the Chinese zodiac.      A quick guide: rat vs rat and horse, horse vs horse and rat! Ox vs ox and sheep. Sheep vs sheep and ox. Tiger vs tiger and monkey. Monkey vs monkey and tiger. Rabbit vs rabbit and rooster. Rooster vs rooster and rabbit. Dragon vs dragon and dog. Dog vs dog and dragon. Pig vs pig and snake. Snake vs snake and pig.      Many have separated or divorced violating the above matching principle in marriage.      Is there a remedy? Yes, and it is shared upon a formal consultation with a genuine Feng Shui master and not any silently renounced claiming to be renowned in Philippines let alone Asia.      How in the world can a fraudster whose gender or marital status questionable be able to give wise counsel on marriage?      Marry right and well and be merry! Beware of closet fake Feng Shui.

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Bar exams feng shui

August 2, 2019

First time unintentionally, I Feng Shuied a housewife who requested me to fix her husband's den office as he is studying for the bar examinations. So together we fixed his desk to the best scholarship direction facing Southwest as it applies to his specific personal Feng Shui lucky direction.      To enhance his focus and concentration we placed a globe crystal ball too.      And ultimately, an aquarium with live arowana fish in it's right fengshui.      And I forgot about it until years later I saw her husband on television hosting a program dedicated to law topics and learned he topped the bar as a credential let alone becoming a president of a university!      Another client friend simply asked how to pass after failing once. The same prescription plus wearing white during exam days even underwear made her a lawyer! Even a successful politician later on with white clothes.      A niece who was taking the Bar simply got two Feng Shui advice, one was to study in her lucky direction and a blessed lucky turtle charm with only two weeks to go before the exams. She became the first lawyer in the family!      Not all of my clients pass the bar.      Lessons learned is simply legal too. Due diligence both in review and Feng Shui.      So even if you have to retake Bar Exams the third time just be diligent.      Who knows you may even top it and end up a senator!      Only one person will know if with proper Feng Shui you can or will pass the Bar. Not me your Excellency.      It's that famous man or woman or closet one when you look at a mirror!      Feng Shui only mirrors your true self when it comes to the successful attainment of your dream of becoming a lawyer.      So to start with memorize with clear understanding The Lawyer's Oath. And review not only bar exam subjects but your personal Feng Shui diligently and consistently.      Yes, how you enter your home, office, bedroom, cook and sleep as well as study can define whether or not you will pass or fail!      Welcome to the real laws of human nature!      Also do get yourself two sets of reviewer materials from the past two years bar examinations to be aptly prepared. And with pun but seriously speaking, they are available at the famous Claro M. Recto photocopying shops in the University belt of Manila or otherwise in Cebu and Davao!      Good luck and study harder for duralex sed lex as a UP pub shirt reads (the law may be harsh but it can be broken like a famous Duralex brand of drinking glass that claims to be unbreakable)! Why? Because even luck in exams can be broken. Ask any student!

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