The labor unions have been telling us for the longest time that the cost of living in Metro Manila has been steadily rising. Now, Mercer, an international human resources consultancy firm, has concluded in its 2019 Cost of Living Survey that Metro Manila showed the fourth sharpest climb in the world… up 29 places. Manila is now ranked 109th most expensive city for expatriates out of 210 localities on this year’s list — the 25th edition of the survey. At halfway in the list, it may not seem too alarming, but going up 29 places is definitely a cause for concern. The study measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment. Cost of living and rental accommodation cost comparisons were derived from a survey conducted in March. “Cost of living is an important component of a city’s attractiveness for businesses,” Yvonne Traber, global mobility product … [Read more...] about Manila-centric mentality
Public sector vs private sector
Build, build, build – trust! It must be said, whether we admit it or not, that we should be thankful to our countrymen serving in government. Most of us are scared of this thankless job or are simply not up to it. Yet, when one takes on the job of a public official, there is that uplifting honor behind the title, there are those connections useful even after one’s life as a public servant, and there are those invaluable opportunities (business or otherwise) created because of the rich relationships and wealth of information and experience acquired by someone who served well. Government personnel may earn huge psychic income but the salary is forgettable. So when the public or taxpayers demand accountability, it’s not due to the salary that is paid to them (which should be increased, really), but due to the assets of the country entrusted to them. They handle and spend other people’s money – money coming from every Filipino … [Read more...] about Build, build, build – trust!
By Christopher Reynolds The Canadian Press Mon., May 13, 2019 Private equity firm Onex Corp. is making its long-coveted leap into aviation by signing a friendly deal to buy WestJet Airlines Ltd. in an all-cash transaction of $3.5 billion. Under the agreement announced Monday, Onex will pay $31 per share for WestJet, which will operate as a privately held company after two decades on the Toronto Stock Exchange. The price represents about a 67 per cent premium to the shares, which closed Friday at $18.52 — roughly the same price it reached the year of its initial public offering. The stock closed up nearly 60 per cent or $11.09 at $29.61 on Monday. The two companies said the deal, worth about $5 billion including debt, will be subject to a shareholder vote, likely in July, and close in the second half of 2019 or early 2020. Tawfiq Popatia, a managing director at Toronto-based Onex, expressed confidence in the airline’s trajectory, which has seen it evolve from … [Read more...] about Onex signs agreement to buy WestJet in deal valued at $5B
MANILA, Philippines — Believing that the truth will come out over accusations that he and his family are receiving payoffs from drug traffickers, President Duterte has expressed no interest in filing charges against personalities who have allegedly conspired to bring him down. Duterte said he is not keen on going after his detractors, some of whom were identified by presidential spokesman Salvador Panelo as coming from the Liberal Party (LP). Panelo named former senator Manuel Roxas II and former presidential spokesman Edwin Lacierda as being behind the video clips where a certain “Bikoy” bared “Ang Totoong Narcolist,” which linked Duterte and his family to the drug protection racket. “I’m not interested to file cases,” Duterte said in his speech during the campaign rally in Garcia Hernandez town in Bohol, which was in support of the gubernatorial bid of former Cabinet secretary Leoncio Evasco Jr. “Sabagay, mogawas ang … [Read more...] about Duterte cool to raps vs those in Bikoy matrix
A few years back, Tiger Resort Leisure and Entertainment, Inc. (TRLEI) entered into a contract with Aruze Philippines Manufacturing Inc. (APMI) for the latter to supply LED light strips for Okada Manila’s building façade, which later turned out to be defective. What initially appeared as a seemingly straightforward business transaction turned ugly after TRLEI, through chief executive adviser Dindo Espeleta, filed a complaint against AMPI executives last year for estafa. According to TRLEI’s complaint, APMI was not authorized to engage in the business of manufacturing LED strips suitable for outdoor use and what APMI supplied to Okada Manila came from another company, J&J Philippines Corp., which was a violation of the contract since APMI represented that it would manufacture the supplied LED strips. APMI, meanwhile, denied making any false representations, saying that the manufacture and supply of LED products are activities that fall under its secondary business … [Read more...] about Falsehood not perjury per se