BusinessMirror November 10, 2014

Page 1

BusinessMirror

three-time rotary club of manila journalism awardee 2006, 2010, 2012

U.N. Media Award 2008

www.businessmirror.com.ph

BusinessMirror

Editor: Alvin I. Dacanay • Monday, November 10, 2014 E3

Juan M. Flavier (1935 to 2014):

Dedicated public servant and PR man par excellence

YOUNG HAIYAN SURVIVORS BRIGHTEN UP GRAYSCALE PHOTOS IN ‘PROJECT RAINBOW’

ORMER Health Secretary and Sen. Juan M. Flavier, who died on October 30, exemplified how an able and dedicated public servant, who also possesses natural and acquired public-relations (PR) skills, can accomplish a lot to promote the welfare of the country and the Filipino people. One of the basic principles of PR is that it must be based on truth, on reality. If the subject is bad, no amount of PR can project it as good—at least, not for long, because, sooner or later, the truth will come out. And Flavier was the real deal—a simple, sincere, capable and honest man who wanted to help the country move forward, especially in the most basic areas of public health and poverty alleviation, particularly in rural areas, where the majority of poor Filipinos live.

PR Matters BY Rene Nieva

Natural and acquired PR skills

IT also helped a lot that Flavier possessed both natural and acquired PR skills. He was, by nature, a cheerful person, always smiling, always joking, quick to the punch with his puns. His sense of humor was disarming, made even more so because it was self-deprecating (especially about his small stature) and even earthy, at times (to which the common tao responded). Flavier’s communication skills, both written and spoken, were developed through his stint with the Philippine Rural Reconstruction Movement and the International Institute of Rural Reconstruction, where his job involved education and training. And when he went to the United States to get his master’s degree in public health at Johns Hopkins University, he took up a formal communications course at Michigan State University, where he learned more of the theoretical and technical aspects of communications. His writing skills were brought to the fore when he wrote a book, Doctor to the Barrios, which was interesting, insightful and very readable, and which quickly became a classic in its genre. Flavier’s PR talents found full expression when Fidel V. Ramos (FVR) was elected president in 1992, and FVR appointed him to head the Department of Health (DOH). Slogans are among the most powerful tools in rallying public support behind an organization and the causes it espouses. They encapsulize, in as brief and as catchy a phrase as possible, what a campaign is all about and what it hopes to achieve.

‘SARIJEEPNEY’ HAILED FIRST DOODLE 4 GOOGLE PHILIPPINES WINNER

A HIGH-SCHOOL student from Compostela Valley was declared the overall winner of the first Doodle 4 Google (D4G) competition in the Philippines with his entry Sari-Jeepney. Kim Patrick Saren of Nabunturan National Comprehensive High School came out on top of the nationwide contest, which saw 51,000 entries from all over the country answering the question, “What can I do for the Philippines?” “This is a sarimanok-inspired idea. It symbolizes Filipino culture with deep appreciation of hard work and creativity,” wrote Kim of his doodle. “The concept is created to solve problems like traffic, economy, education and basic needs. The key on the tail signifies the solutions to the problems, wherein we must fly high with pride and honor.” Saren belongs to the 15-to-17 age-group category. Launched in July, D4G encouraged students and learners to look beyond themselves and imagine what they can do for the country. The entries were judged in three categories: artistic merit, creativity and theme communication. Aside from Saren, three other winners were picked per age group. Angela Kaitlin Tiu’s Love and Care for the Philippines, Avryll Nartates’s Coral Ripped or Coral Reef?, and Jay Portallo’s Symphony for Peace won for the 5-8 years old, 9-11 years old and 12-14 years old categories, respectively. “Through the competition, we saw the depth of the Filipino youth’s insight, creativity and innovation. They are very keen on the idea of nation-building,” said Ryan Morales, Google Philippines country marketing manager. “The doodles reflect the aspirations of the nation over pressing issues—from solution to flooding to environment protection to food for the poor, value of education, culture preservation and global competitiveness.” Saren’s doodle will be displayed on the Google Philippines homepage on November 10. He also took home an especially designed trophy by Google, a P400,000 educational grant from BPI Foundation at any school or college in the Philippines, an art kit from National Book Store, and an Acer C720 Chromebook.

Master sloganeer

FLAVIER was a master at coining slogans, coming up with such gems as “Let’s DOH It”, the health department’s overall slogan; “Oplan Alis Disease”, for the DOH’s nationwide immunization program; “Sangkap Pinoy”, for its project to combat malnutrition; and, most memorable of all, “Yosi Kadiri”, for its anti-smoking campaign. The last one featured a villainous and odious mascot representing the cigarette as some monster that should be denounced and destroyed. But, aside from having good titles, these DOH programs, which, to a large extent, were healthawareness and disease-prevention campaigns, would not have been successful had they not been planned and executed in a strategic, systematic and cost-effective manner. Knowing how Filipinos look up to and are influenced by entertainment personalities, Flavier was also PR-savvy enough to enlist celebrities to endorse and generate awareness and mass support for the DOH’s various programs.

TEAMASIA JOINS 4AS PHILIPPINES

TEAMASIA has been inducted into the Association of Accredited Advertising Agencies (4AS) of the Philippines as the first nonadvertising-specific agency to be allowed to join the organization. Acknowledging the evolving nature of advertising agencies, members voted favorably on the same day to amend several bylaws of the association, which included the justification for the inclusion of the IMC firm. The membership criteria expanded from solely advertising agencies to marketing communications and advertising.

Giving speeches was also another of Flavier’s PR talents. But these were not formal speeches that he read, but more like talks or conversations with his audience. These were based on bullet points around which he wove stories and jokes that conveyed his messages about health in a more understandable and effective manner.

Media darling

MEDIA relations are probably at the very core of good PR, and Flavier’s media relations were superb. He treated the media fairly and with professional respect, but, at the same time, in a friendly and fatherly manner. The journalists who covered the DOH during Flavier’s time said he was always accesible to them, answered phone calls himself, and was very open and generous in sharing information. This made him the undisputed “media darling” among members of FVR’s Cabinet. Flavier’s PR skills became even more evident when he ran for the Senate in 1995. He was a great campaigner, getting tremendous response from the crowds whenever it was his turn to speak. This enabled him to land in fifth place among the winners, which was pretty high for a political neophyte. He was easily reelected when he ran again in 2001. Testifying to his PR skills was his getting his Senate colleagues to support and pass into law bills that promoted the causes he believed in, among them the Traditional Medicine law, the Poverty Alleviation law, the Clean Air Act, the Indigenous People’s Rights Act, the Tobacco Regulation Act and the AntiMoney Laundering Act, among others. He accomplished these despite the opposition of powerful lobby groups of the industries affected.

Kinship with Flavier

I HAVE had the good fortune of dealing with Flavier personally, both when he was health secretary and senator, in connection with the Rizal Award for Rural Physicians that we initiated and ran for a pharmaceutical company-client. We sought his endorsement for the project, which he enthusiastically gave. And every time we brought the awardees to him for a courtesy call, he received them warmly. I was able to observe firsthand how the affinity between Flavier and the rural doctors was so close, so palpable, like they belonged to the same brotherhood of Filipinos who were, and are, among the nation’s heroes of our times, as Dr. Jose P. Rizal, after whom the award was named, was a hero in his. We PR practitioners also feel a similar professional and personal kinship with Flavier, a dedicated public servant and PR man par excellence. We salute him and bid him a fond farewell. Rene Nieva is the president and chief executive officer of Perceptions Inc. PR Matters is a rotating column of members of the local chapter of the United Kingdom-based International Public Relations Association, the premier association for senior professionals around the world. PR Matters is devoting a special column each month to answer readers’ questions about public relations. Send your comments and questions to askipraphil@gmail.com.

marketing

E3

the key to change is middle management BusinessMirror

www.businessmirror.com.ph

Monday, November 10, 2014 E 1

Is MIddle ManageMenT 3 C 4 I By Behnam Tabrizi

A hallmark of the successful 32% was the involvement of midlevel managers two or more levels below the CeO. In those cases, midlevel managers weren’t merely managing incremental change; they were leading it by working levers of power up, across and down in their organizations. I recently took another look at my 553 hours of interviews with 380 executives, managers and con-

tributors to see why some managers emerge as change leaders. I found a few defining characteristics:

1

Change leaders have a north Star—and they talk about it. Many change efforts fail because people reduce themselves to checking boxes in safe, defensible systems, such as Lean and Six Sigma. Successful change leaders, on the

other hand, are open, bold and have a clear sense of their motivations.

2

Change leaders use a GPS to guide them toward their north Star. Change leaders are visionaries. But they recognize that they—and the organization—need a process to help them reach their goals. they adopt a process, stick to it, and inspire others to embrace it.

Change leaders work across boundaries, in many cases creating a direct line of communication to top executives.

Change leaders move fast. I encourage managers eager to transform themselves into change leaders to write vision statements. then I suggest three other steps: Find a bold process of change to follow; push yourself to communicate, especially up, with your company’s executives and the CeO; and embrace speed at every possible juncture. We think of midlevel managers as managing incremental change, but many are change leaders in the making. When they align their personal goals and strengths with the organization’s goals, they become extraordinary leaders.

Behnam Tabrizi is the managing director of Rapid Transformation Llc. and teaches at Stanford University. He has written five books, including rapid transformation and the Inside-Out effect.

Humans Can make tHe Internet Of tHInGs smarter By Carlos Montero-Luque

nternet of things, or Iot, systems usually consist of a set of sensors that collect information, which is then transmitted between different devices without human intervention. Meanwhile, today’s mobile infrastructure—devices, apps—is typically all about human interaction. At first glance, these two environments seem to be separate. But their integration is key to making the Iot work, especially under circumstances in which human interaction, judgment and action can enhance data collection, analysis and system behavior. In short, input from actual people will make the Iot smarter. A system that collects data automatically can be compromised by issues of data quality, such as inconsistent, missing or unrecognized data, which then can result in incorrect analysis. Human interaction with Iot systems through mobile apps can augment automated data collection and correct, complement, extend or even override the data gathered by the system or the actions it would undertake in response to the analysis of poorquality data. For example, the iPhone 6 includes the following capabilities: camera, GPS, compass, Bluetooth and nFC, micro location, barometer, gyroscope, accelerometer, proximity sensor and an ambient light sensor.

ue to lack of support from Congress, the Department of Energy (DOE) has reportedly abandoned its plan to acquire or lease generator sets (gensets) to deal with the projected power-supply deficit in the summer months of 2015.

This, House Deputy Minority Leader and Party-list Rep. Arnel Ty of Liquefied Petroleum Gas Marketers’ Association said, is because both administration and opposition lawmakers had attacked the plan as “vulnerable to corruption.” Malacañang previously invoked the emergency provisions of the Electric Power Industry Reform Act of 2001 to allow the government to establish the required additional generating capacity under such terms and conditions as Congress may authorize via a joint resolution. “We presume the gensets and the fuel supplies will

The Key To Change hange efforts often crumble into excruciatingly dull meetings and PowerPoint presentations. I studied large-scale change and innovation efforts in 56 randomly selected companies in the high-tech, retail, pharmaceutical, banking, automotive, insurance, energy, nonprofit and health-care industries. My research found that the majority of the efforts failed.

these functionalities make it possible for a person to collect a wide range of information that can, in turn, be used to interact with an Iot system. Imagine a traffic system that detects that the flow of vehicles has changed dramatically in a tunnel. A photograph of an accident taken by someone in the tunnel and sent via a mobile app could help inform the decision to reroute traffic and open the road to emergency services. Or imagine a person wearing a device to monitor blood pressure or sugar levels. While a change in readings can trigger a call from the doctor’s office or signal an ambulance dispatch and preparation of lifesaving medicines in the emergency room, it is likely that direct input from the patient or a loved one can help determine whether this is a false alarm. Whether entered through a mobile phone or the wearable device itself, the user’s or loved one’s input—for instance, noting that the patient took off the device momentarily—can help make the system smarter. the key to maximizing the usefulness of Iot systems is getting these mobile interactions right. We should look for opportunities to improve the capabilities of Iot environments by making it easier for real people to contribute to them.

Carlos Montero-Luque is chief technology officer at Apperian.

COWOrkers sHOuLd Be LIke neIGHBOrs, nOt LIke famILy By Art Markman

r

Communication tips for global virtual teams By Paul Berry

O

ne of my designers lives in turkmenistan. every day he wakes up to e-mail and assignments from our commercial team in new York and San Francisco. When he’s done, he sends his designs to a developer in Ukraine to implement. throughout the day they work on various projects, and when they go to bed our design and development teams in new York take over. the system runs smoothly and it means that my team happily works around the clock—without any one person actually working around the clock. People often ask me about how I built a global engineering team at rebelMouse, and before that at

Huffington Post. A lot of it comes down to communication. In my 15 years managing remote teams, I have learned to:

nLive and breathe e-mail MY team is spread across more than 20 countries. Instant messaging relies on everyone being there at the same time. e-mail, on the other hand, suits our time zone differences and odd working hours. So everyone on the team makes e-mail the absolute highest priority. nGive the benefit of the doubt MY team has huge cultural and language differences. It’s essential that we forgive each other constantly for odd grammar and odd behavior and

try to make the beauty of building something together lift us above any confusion.

my team to be overtly friendly in their e-mails, even if it means they sound less “businesslike.”

nOvercommunicate eSPeCIALLY as part of a start-up, it’s sometimes hard to understand where we’re going and what we’re building. Asking questions all the time helps. I want people to always be inquisitive while also working on the little pieces of concrete information that we know for sure.

nOffer suggestions, not critiques WHen you disagree with someone in person, you can often discuss the issue until you’re both on the same page. that’s much harder to do from halfway around the world, when a brief “I don’t get it” can steer the conversation into a dead end. If you don’t like someone’s idea, suggest an alternative instead of simply sharing your dislike. And if there’s anything you do like about the proposal, make sure to include that, too.

nBe intentionally positive It’S way too easy for things to sound negative in an e-mail. Without the benefit of tone, body language and other social cues, it’s especially important to make sure e-mails don’t turn into hurt feelings. I encourage

Paul Berry is the Founder and CEO of RebelMouse.

eSeArCH suggests that we can break the world up into several kinds of relationships. there are three that are particularly important in the context of business: strangers, family and neighbors. Strangers are people with whom we don’t have a close connection; if we need their help, we pay them for it. Families are people with whom we have a close bond and for whom we do whatever is needed, often expecting nothing in return. In between strangers and family are neighbors—people with whom we have a reasonably close relationship, who offer us help and expect help in return. It’s not good to have a workplace that consists primarily of strangers, because every interaction becomes a fee-for-service transaction and strangers aren’t motivated to go above and beyond to help the organization fulfill its goals. Likewise, it’s dangerous for most organizations to function as a family, because not all employees will pull their own weight. It’s an inefficient and demoralizing way to work. But with our neighbors, we try to balance what we do for them and what we get from them over time. We construct covenants in which everyone shares a common vision and agrees to do what they can to work toward these common interests. there are several ways to promote a neighborhood in the workplace:

ntraining

MAnY companies provide extensive

Continued on A2

training opportunities for their employees, giving them a chance to develop both work-related and personal skills. this demonstrates that the organization is interested in the employees’ long-term best interests.

nProviding opportunities for employees to engage with higher-ups

BeInG a part of the neighborhood requires a feeling that the organization knows who you are and cares not just about people in general, but about you in particular

nfostering a shared purpose

reSIdentIAL neighbors are bound together by the desire to create a community that benefits the people who live there. Similarly, companies need a shared vision that transcends individuals.

nkeeping “neighbors” from becoming strangers

tHe biggest signal that a neighborhood is eroding is when employees start finding reasons not to support broader initiatives within the organization because of the narrower job that they have been assigned. When this happens, managers need to demonstrate that the organization cares about them and remind them of their connection to the broader mission. Although it requires effort and resources to maintain a neighborhood, the investment is quickly repaid.

Art Markman is a professor of psychology and marketing at the University of Texas at Austin. He is the editor of the journal Cognitive Science and the author of Smart thinking.

monday morning

© 2013 Harvard Business School Publishing Corp. (Distributed by The New York Times Syndicate)

E1

what’s really going on in north korea BusinessMirror

WHAT’S REALLY GOING ON IN NORTH KOREA

IN this February 26, 2008, file photo, people bow in front of a statue of Kim Il Sung in Pyongyang, North Korea. AP/DAVID GUTTENFELDER

I

B P F | Los Angeles Times

T was a news story that read like the plot of a Peter Sellers or Mike Myers picture: Vertically challenged dictator of a starving populace, overweight and addicted to imported Swiss cheese, falls off his high heels and breaks both ankles. He is sent off to rehab and, in his absence, rivals jostle for preeminence as the world anxiously looks on and speculates.

Rather than the plot of an upcoming movie, this was one story about North Korea when “The Marshal,” Kim Jong Un (military experience: none), the third-generation Kim to rule the Democratic People’s Republic of Korea, disappeared from view for weeks. The international media were feverish with speculation about a possible power shift in Pyongyang. So-called experts took turns hypothesizing on Kim’s health and his grip on power. When one high-profi le North Korean defector suggested that the policymaking unit of the Workers’ Party might have enough influence to occasionally contradict Kim, the mainstream media distorted his words into the announcement of a “coup.” Much of what has been said and written over the last few weeks has muddied the waters rather than cleared them. Most experts’ key mistake is to treat each sign from Pyongyang as if it is sent to the international community, when Kim and the Workers’ Party have a more urgent audience: their own people. The story for the outside world was Kim’s “disappearance.” For the North Korean people, indications are that the big news was his reappearance, and what he looked like

when he did: thinner and leaning on a cane. Image, in North Korea, is everything. The Kim family mythology is the foundation of its statehood narrative. A big part of that is that the Kims—the dictator dynasty started with Kim’s grandfather, “Great Leader” Kim Il Sung, and father, “Dear Leader” Kim Jong Il—are the purest, most virtuous, most perfect humans, superhuman even. They cannot be shown to be wrong, to be weak, to fail. The state goes to great lengths to maintain this. The goiter on the Great Leader’s neck was airbrushed out of portraits and photos, as were the Dear Leader’s paunch, wrinkles and liver spots. There is a “longevity institute” in Pyongyang, according to North Korean defectors, where the nation’s top doctors work to try to extend each Kim’s life, using citizens of the same age, build and “physical characteristics” as the leader as guinea pigs. Both the late Kims spent their old age allegedly sleeping with teenage girls and receiving transfusions of the blood of young men in hopes that either act would rejuvenate them. And when the Supreme Leader and Dear Leader died, the party media told the people the Kims died of heart attacks

IN this July 25, 2013, file photo, North Korean leader Kim Jong Un (center) arrives at the cemeteries of fallen fighters of the Korean People’s Army in Pyongyang, North Korea. AP/WONG MAYE-E

brought on by “heavy strains” and “overwork”—not death by weakness but by strength: death caused by too much superhuman striving in the name of the people. In the West, a head of state breaking an ankle is an accident— at worst, if someone stood nearby with a camera phone, YouTube fodder. In North Korea it is another dangerous tear in the wool thrown

over the people’s eyes. It is unprecedented for the party media to acknowledge that a Kim—they of Supreme Leader blood—could be injured or in poor health. Is it possible, as theorized by some, that the young, inexperienced Kim is only a figurehead for some party unit that holds the true power in Pyongyang, or that there are influential party members

working to reform the country? Of course. But it seems equally possible that, out of ignorance, we have whipped up a misguided, dangerous frenzy—dangerous in that it obscures accurate understanding of a rogue state that, after all, has nuclear capabilities—over Kim’s absence. He could well have been kept out of sight simply because his people, who are taught to believe

he is a demigod, would be shaken to the core to see him in a wheelchair or on crutches. We in the West have been repeatedly proved wrong in our predictions about the plucky little dictatorship that could. We just knew, for example, that it would crumble within months after the Berlin Wall fell, and again when Kim Il Sung died. It didn’t. We felt certain that Kim Jong Il, the family black sheep, would never take over; indeed, that father-to-son dynastic rule would never be accepted by a state governed by the principles of socialism. We even go on calling North Korea a communist or socialist state, when it has long ceased to be either and is, in fact, a military dictatorship run by one family and its cronies. North Korea is, by all accounts, on the brink of enormous change. It is a failed state, isolated and mostly reliant on foreign aid. It exists in an ideological reality that is anachronistic and contradictory. Discontent is growing, with “illegal” black markets in every town and corruption rampant. Citizens repeat the propaganda they are force-fed, declaring themselves the luckiest people in the world, knowing full well they are not. They have DVDs, VHS tapes and photos, bought from the Chinese, showing them how much more peaceful and affluent fourfifths of the rest of the world is. They struggle to reconcile the “truths” they are hard-wired to believe with the truths they see with their own eyes. The poor, starving and beaten are fed up. The elite, who know how much more luxurious life is in Japan, China, South Korea or the West, are fed up. The picture we have of North Koreans—homogenous, blindly obedient, brainwashed people—is incomplete, in spite of major news outlets dangerously and inexplicably acting as if it is. The change, when it comes, will present risk and opportunity for the West. China, South Korea, Russia and Japan will also have an interest. We willfully misunderstand and misrepresent this regime at our peril. TNS

perspective

E4

finding the balance

Sports

The los angeles lakers simply don’t have much talent besides Kobe Bryant, and they don’t have any balance offensively. AP

BusinessMirror

C1

| Monday, noveMber 10, 2014 mirror_sports@yahoo.com.ph sports@businessmirror.com.ph Editor: Jun Lomibao

FINDING

BryanT can’T carry The lOaD By himSelf

THE BALANCE

L

By Mike Bresnahan Los Angeles Times

OS ANGELES—There used to be whoops of fun and frivolity from the Los Angeles Lakers when they were a championship-caliber franchise. Who could forget Shaquille O’Neal standing outside Staples Center on a late June day and bellowing to delirious Lakers fans, “Can you dig it?” Or Ron Artest sitting on the dais after the Lakers beat Boston in Game Seven and yelling out, “Acknowledge me, please!” Now, though, the Lakers aren’t doing much yelling. Their catchphrase these days would be something less enthralling: “Beat Charlotte?” The Lakers are 0-5 and on their way to a lot worse if they lose to the Hornets (3-3) at Staples Center. Their schedule after Sunday’s game takes a decisive turn for the worse: at Memphis, at New Orleans, home against San Antonio, home against Golden State. It’s hard to remember a Lakers game against Charlotte holding this much significance. And it’s only November. Barely a week into it. “This is not a given,” Lakers Coach Byron Scott said on Saturday. “Charlotte’s a good basketball team. They were in the playoffs last year.” The Lakers couldn’t be further from thinking about the postseason. They’re merely trying to figure out how to stop allowing 116.8 points a game. (Hint: Stop surrendering so many fastbreaks and simple three-point looks.) Then there’s the offensive side. Kobe Bryant took 37 shots, while the rest of the starters combined for 35 in a 112-106 loss to Phoenix on Tuesday. It’s a tricky line to straddle: The Lakers don’t have much talent besides Bryant, but they definitely don’t have any balance offensively. “I’ve talked to a couple individuals about just being a little bit more assertive, not relying on Kobe as much,” Scott said. “You guys can ask Kobe this. I think he wants to get those guys to step up. He really does. Take shots when they have them. Not defer to him as much.” Jeremy Lin had only eight shots against Phoenix and Carlos Boozer just isn’t shooting well for a power forward (44 percent). But Bryant needs to step back a bit, Scott added. “I’ve got to remind him not to chase the ball at times, to let those guys play because sometimes you’ve got to let guys make mistakes,” Scott said. “He tries to bail them out at times. That’s a

habit that he has, and he knows that he has to try to break that. That’s hard. He’s been playing this game and he’s one of those guys, ‘OK, if you guys are not doing it, give it to me, and I’ll try to do it myself.’ That’s the competitive nature that he has.” Bryant did not speak to reporters after Saturday’s practice, but he addressed his teammates in a colorful manner while they huddled after a scrimmage. It couldn’t be entirely heard by reporters, but Bryant was obviously heated. naSh reSPOnDS STEvE NASH has been assailed on social media by Lakers fans since posting an Instagram video

of himself whacking a golf ball at a driving range. He tried to explain himself in a Facebook post on Friday, aware that criticism stems from him making $9.7 million while sitting out this season because of chronic back pain. “There is an incredible difference between this game and swinging a golf club, hiking, even hitting a tennis ball or playing basketball at the park,” Nash wrote. “Fortunately, those other activities aren’t debilitating, but playing an NBA [National Basketball Association] game usually puts me out a couple of weeks. Once you’re asked to accelerate and decelerate with Steph Curry and Kyrie Irving, it is a completely different demand.” Nash, 40, expressed disappointment he hadn’t played better—or much at all—since being acquired from Phoenix for two first-round and two second-round picks. “The past two years I’ve worked like a dog to not only overcome these setbacks but to find the form that could lift up and inspire the fans in LA as my last chapter,” he wrote. “Obviously, it’s been a disaster on both fronts but I’ve never worked harder, sacrificed more or faced such a difficult challenge mentally and emotionally.” Nash will have played only 65 games in three seasons with the Lakers.

Rubio out for 2 months?

M

INNESOTA Timberwolves guard Ricky Rubio may miss as many as seven to eight weeks with a badly sprained left ankle, a person familiar with the injury told USA Today Sports. The person requested anonymity because, he was not authorized to speak publicly about the injury. Rubio sustained the ankle sprain in Friday’s game against the Orlando Magic, after landing awkwardly on a drive to the basket with 2:28 left in the second quarter. The

team said he is out indefinitely with a significant sprain. Rubio, who will wear a walking boot for the next two weeks, suffered no serious ligament or tendon damage, according to the MRI, and the injury is not classified as a high-ankle sprain, the person told USA Today Sports. It’s disappointing news for Rubio and the 2-3 Timberwolves, who came to terms on a four-year, $55-million extension on October 31. Rubio, 24, is averaging 9.4 points, 10 assists and 5.6 rebounds in five games this season. MCT

CURRY HAS 34 IN WARRIORS’ WIN vS ROCKETS

H

OUSTON—Stephen Curry had 34 points and 10 rebounds to lead the Golden State Warriors past the depleted Houston Rockets, 98-87, on Saturday in a matchup of undefeated teams. Houston played without center Dwight Howard (flu-like symptoms) and power forward Terrence Jones (bruised right leg), which made things much easier for the Warriors inside. Golden State center Andrew Bogut dominated the glass in Howard’s absence, pulling down 18 rebounds. James Harden led the Rockets (6-1) with 22 points, and point guard Isaiah Canaan had 21. At San Antonio, Anthony Davis scored the game-winning basket and finished with 27 points and 11 rebounds to help the New Orleans Pelicans hold off the Spurs, 100-99. The Spurs went on a 15-4 run, with Tony Parker and Tim Duncan on the bench, to take a 99-98 lead. Danny Green capped the run with three free throws with 12 seconds remaining after he was fouled by Eric Gordon on a wild three-point attempt as the shot clock was about to expire. Tyreke Evans had 18 points, including buzzer-beating shots in the second and third quarters; and Jrue Holiday had 15 points and 11 assists. Parker scored 28 points; Manu Ginobili added 17 points, Green had 16; and Duncan had 11 points and 10 rebounds. Milwaukee’s Brandon Knight converted a three-point play with 1.1 seconds remaining to rally the Bucks to a 93-92 win over Memphis to hand the Grizzlies their first loss of the season after six consecutive victories. Memphis guard Mike Conley was fouled with eight seconds remaining, but missed the first free throw and made the second to make it 92-90. Zach Randolph had 22 points and 14 rebounds, and Marc Gasol scored 18 for Memphis (6-1), which was off to the best start in franchise history. The Los Angeles Clippers beat the Portland Trail Blazers, 106-102, after J.J. Redick scored 30 points and Blake Griffin added 23. Chris Paul added 22 points and 11 assists; Jamal Crawford had 20 points in his first start of the season; and DeAndre Jordan grabbed 14 rebounds. Damian Lillard led the Blazers with 25 points. In other games, Dwyane Wade had 25 points and eight assists; and Chris Bosh scored 24 as the Miami Heat held on in the final minutes to beat the Minnesota Timberwolves, 102-92; the Boston Celtics defeated the Chicago Bulls, 106-101; the Washington Wizards downed the Indiana Pacers, 97-90; and the Atlanta Hawks were 103-96 winners over the Brooklyn Knicks. AP

sports » San antonio Spurs forward Tim Duncan is guarded

by new Orleans Pelicans forward anthony Davis in the first half of their encounter. AP

BSP SEES RECENT STEPS COOLING PROPERTY RISK

S

Perspective

E4 Monday, November 10, 2014

P25.00 nationwide | 7 sections 36 pages | 7 days a week

By Jovee Marie N. Dela Cruz & Lenie Lectura

F

SOMBER black-and-white photographs of the devastation caused by Supertyphoon Yolanda (international code name Haiyan) have been turned into pictures of hope by children who survived one of the worst storms in history, through an initiative aptly named Project Rainbow. Initiated by Aspac Advertising, the project builds on auctions off the artwork created by young Yolanda survivors who drew over photographs taken by Director Sid Maderazo. “Children have this innate sense of optimism so we used that idea, and what we did was we got some black-and-white photos of the devastation. We got them, printed them on a big A3 size, we flew back to Tacloban about 100 days after the storm,” Aspac Chief Creative Officer Joey Ong shared in an interview with adobo. They then gave the children in Tacloban crayons and the photographs. Their output, Ong said, surprised him. “Even me, I had an idea of what I wanted to come out. After seeing it, I was very surprised. It makes you feel good, and, at the same time, it kind of inspired me to do this project,” he said. Fifty artworks were put up for auction, while some were printed on cards, which were also put up for sale. So far, the project has already raised P200,000 from the paintings and P80,000 from merchandise. The proceeds will be used to mount a trauma-rehabilitation workshop for survivors. “The problem is still there, these kids are still very traumatized. I want to help them through the use of art,” Ong said.

Monday, November 10, 2014 Vol. 10 No. 32

Acquisition of gensets stricken off D

juan m. flavier (1935-2014) Marketing

n

NEW EMERGENCY-POWER DRAFT FOCUSES ON I.L.P. IN ADDRESSING ENERGY GAP

INSIDE

news.businessmirror@gmail.com

A broader look at today’s business

c1

teps taken this year by the central bank will be enough to damp risk in the domestic property sector, the country’s chief monetary official said, after land prices exceeded a 1997 high. Measures to tighten policy and cool the real-estate sector have provided banks with “clear enough guidance to help them better appreciate the risks of their lending activities,”Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr. said in an e-mailed response to reporters’questions. He cited a new credit-risk management framework; property stress tests for banks; and an expanded definition of lenders’ investments. Policymakers also raised the benchmark interest rate twice this year to 4 percent, from a record-low 3.5 percent. Tetangco’s comments come after land values in at least seven Philippine cities tracked by Colliers International UK Plc., climbed in the September quarter to levels above their peaks in 1997. Accelerating economic growth, rising remittances from more than 10 million Filipinos abroad and low borrowing costs are fueling demand, the property broker said in a report this week. The steps are intended to ensure that banks have the capital to support lending activities and have assessed the creditworthiness of their clients, Tetangco said. The central bank will intervene in the foreign-exchange market, if necessary, to smooth out volatility as Bank of Japan and European Central Bank easing and good US economic data point to a stronger dollar, Tetangco said. The country’s economic fundamentals will also support the local currency, he said. The peso fell to 45.045 per dollar on Friday, the weakest close since March 25, prices from Tullett Prebon Plc. show. “We continue to be on the lookout for excessive market reactions to news,” Tetangco said. Bloomberg News

PESO exchange rates n US 45.0380 n japan 0.3911

ayala tower rising Hong Kong Land Executive Director Robert Wong (from left); Ayala Land Chairman Fernando Zobel de Ayala; Hong Kong Land Chief Executive Y.K. Pang; Bank of the Philippine Islands Senior Vice President and Group Head Maria Theresa Javier; and Ayala Land President Bobby Dy propose a toast as Ayala Land introduces Two Roxas Triangle, the second luxury residential tower rising on the prime location of the Roxas Triangle Towers in Makati City. NONIE REYES

CHINA VOWS First Pacific to allot ₧96B TO BE GOOD for PHL operations in 2015 NEIGHBOR IN By Lorenz S. Marasigan

H

ong Kong-based First Pacific Co. Ltd. is investing P96 billion for its Philippine units’ capital expenditures next year, a senior official told the BusinessMirror over the weekend. The programmed budget for 2015, which is still being finalized, is roughly 22 percent higher than this year’s outlays. Metro Pacific Investments Corp. (MPIC) CFO David J. Nicol said his firm will be spending roughly P53 billion in 2015, with its water utility receiving the lion’s share at P17 billion. Maynilad Water Services Inc. has programmed P17 billion for next year’s capital outlays to further expand its capacity and coverage. The water utility is the largest contributor to the conglomerate’s bottom line, which grew by 15 percent in the first nine months of the year to P6.5 billion in core earnings. The Manila Electric Co. (Meralco), which is the second-largest contributor to the infrastructure giant, will be spending P15 billion in 2015. The said capital investments will be used mainly to modernize its power facilities and expand its capacity. Metro Pacific Tollways Corp. (MPTC), meanwhile, will be spending P10 billion in capital

NICOL: “Our various tariff issues at MPIC [Metro Pacific Investments Corp.]—roads, water and, now, possibly rail—need resolving if we are to achieve all of the above.”

outlays next year. It is expected to complete its two-segment expansion plan amounting to P12.4 billion by the first half of 2015. The Hospital Group will be spending roughly P2 billion next year. The bulk of the investments will be used to increase its hospitals’ patient capacity. The group is mulling over the acquisition of four more hospitals to achieve its 3,000-bed target through 2016. Making its foray in the group’s capital investments is the budget for its investments in the train systems in the country. The listed holding company, Nicol said, will be spending P9 billion for the initial phase of the P64.9-billion venture to expand the Light Rail Transit (LRT) Line 1 to Cavite, and to roll out the P1.72-billion Automated Fare Collection System project. See “First Pacific,” A12

ASIA PACIFIC

P

resident Xi Jinping signaled China is ready to accept slower economic growth, telling a gathering of executives that expansion of about 7 percent will still make the country one of the world’s top performers. “Even a growth rate of about 7 percent will put China among the top performers in the world in terms of both speed and size,” Xi told the Asia-Pacific Economic Cooperation (Apec) CEO Summit in Beijing. “Some worry whether China’s growth rate will slow down further, or whether China can overcome the obstacles—risks , indeed,there, but they’re not that scary.” Xi also reiterated that China will be a good neighbor in the region, after a year in which tensions have escalated with Japan, Vietnam and the Philippines over territorial disputes. China on Saturday announced it will create a $40-billion Silk Road See “China,” A2

n UK 71.3087 n HK 5.8093 n CHINA 7.3684 n singapore 34.7650 n australia 38.6658 n EU 55.7435 n SAUDI arabia 12.0053 Source: BSP (7 November 2014)


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.