Home Blog Page 10348

FDCP reveals incentive scheme for international films shot in PHL

THE Film Development Council of the Philippines (FDCP) has announced several location incentives for international productions and Philippine co-productions in order to encourage more international films to be shot in the country.

“There is no better way to underscore the celebration of the One Hundred Years of Philippine Cinema than to finally give our Filipino filmmakers and the Philippines the leverage that it needs to be globally competitive,” said FDCP Chairperson and CEO Mary Liza B. Diño in a statement.

“I’m excited to share this with the world because we have been lobbying for this since I started my term as head of this agency. I believe Busan is the perfect platform to launch this exciting program,” she added.

She announced the FilmPhilippines incentives during the annual Philippine Cinema Night at the Busan International Film Festival on Oct. 6 at the Haeundae Rooftop Bar.

The incentives include a cash rebate of between 10% to 40% of qualifying production costs with a cap of up to P10 million ($193,000) which may be availed through Film Location Incentive Program (FLIP) or the International Co-Production Fund (ICOF), and schemes that cover artist and technician fees, equipment rental, crew, film permits, accommodation, transport, and food expenses spent in the Philippines.

Full feature films in any genre and format — including web content series or content for alternative distribution platforms — shooting in the Philippines which will spend at least P8 million ($154,000) can apply for the FLIP provided that they are partnered with a “duly-registered Philippine line producer.” The incentive is meant to help the production and/or post-production process of the film.

Meanwhile Filipino feature film projects with international co-production in any format spending at least P8 million ($154,000) can apply for ICOF.

The FDCP accepts applications for projects at any stage — pre-production, production, or post-production.

“The FDCP expects a heightened artistic and technical exchange between Filipino film workers and the rest of the world’s film professionals through this program, as well as a surge in tourism revenues and business investments months after this incentive program is launched,” the statement read.

Applications for both incentive schemes will open by January 2020. More details about the FilmPhilippines Incentives can be found at www.filmphilippines.com. — Zsarlene B. Chua

MGen mulls entry into biomass energy

By Victor V. Saulon, Sub-Editor

MERALCO PowerGen Corp. (MGen) is studying new technology for its possible entry into biomass energy development to help address the country’s garbage problem through a waste-to-energy project, its president said.

“I think there might be a way of addressing [the garbage problem],” MGen President and Chief Executive Officer Rogelio L. Singson said in a recent chance interview. “I’m looking at new technology sa biomass because we have a lot of water hyacinth.”

He said the free-floating aquatic plant had been his “headache” when he was secretary of the Department of Public Works and Highways under the previous administration.

Lahat nu’ng flooding sa (All the flooding in) Mindanao was caused by water hyacinth,” he said about the perennial plant that is known to clog waterways, trapping garbage and causing flooding where they thrive.

“And that’s organic. Ba’t nagtatanim ka pa ng (Why would you still plant) Napier grass,” he said, about another perennial plant that is grown to provide feedstock for biomass facilities.

He said there has to be a way to collect water hyacinth as feedstock for a biomass facility, which converts agricultural waste to electricity.

Mr. Singson said the company is looking at areas in Luzon for the biomass facility.

“But our second target would be microgrids,” he said, referring to energy systems that are independent from the main transmission grid, or the country’s network of transmission lines, towers and substations.

He said MGen was considering off-grid island provinces and municipalities that need energy development for their own use as the target location for its microgrid projects.

MGen is a unit of Manila Electric Co. (Meralco), the country’s largest electricity seller.

Meralco’s board of directors recently approved the request of MGen’s unit MGEN Renewable Energy, Inc. (MGreen) for a P424.2-million equity funding for its solar projects under development with a combined capacity of 210-megawatt peak (MWp) and a total estimated project cost of P10.01 billion.

MGreen earlier announced its plan to invest in 1,000 MW of renewable energy projects over the next five to seven years.

Besides advancing renewable energy prospects, MGen is also focused on utilizing high efficiency, low emission (HELE) technology for its baseload power plants.

It is the proponent of San Buenaventura Power Ltd. Co., which is pioneering the country’s first supercritical coal-fired power plant in Mauban, Quezon. The 455-MW plant is under construction and is scheduled for commercial operations in late 2019.

MGen is also planning to build an ultra-supercritical coal-fired power plant in Quezon province under wholly owned subsidiary Atimonan One Energy, Inc. The plant will have two units, each with a capacity of 600 MW.

MGen also plans to develop a two-unit coal power plant, each with a capacity of 300 MW in Subic, Zambales.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls.

Companies must help workers reach personal goals, experts says

THE importance of employee personal goals is not well understood by most companies, which must find ways to help them achieve their own milestones while also contributing to productivity, a human resource association said.

Philippine Society for Talent Development (PSTD) President Fe Marie R. Cabantac said instead of training workers to meet company standards only, management should guide workers towards outcomes that meet both personal and company goals — an approach she called “disciplined dreaming.”

“When we say ‘disciplined dreaming’, it is the convergence of organizational and personal ambition. We are not discounting organizational ambition here. In fact the individual should contribute to the achievements of the organization’s mission and vision but at the same time, the organization should realize the dreams and aspirations of the individual,” she said in an interview with BusinessWorld Tuesday.

The PSTD, a network of human resource professionals, backs an approach that focuses on talent development. The association’s Talent Development Framework focuses on enhancing whatever skills and knowledge are already present in the worker.

Civil Service Institute (CSI) Executive Director Arthur Luis P. Florentin, who supports the framework, said that employee talent “is beyond standards.”

“The more that we have talented people, the more they will contribute to the competitive edge of the company. I’d like to differentiate competence and talent because when we talk of competence, we say that people are doing well and they are performing according to certain standards but we stop there at certain standards. Talent is going beyond the standards because it’s already been personalized,” Mr. Florentin told BusinessWorld Tuesday.

Mr. Florentin said talent development is different from training, adding “training is a limited approach in developing people.”

The framework starts with “Pagmulat” (enlightenment), which means discovering the latent talent to be developed; “Paghusay” (practice) which is practicing that talent until one becomes a master of it; “Paglaya” means freedom from standards that constrain progress of one’s talent development; and “Pagtagumpay” is affirming that talent.

During the PSTD National Convention held on Tuesday, Ms.Cabantac also added that there is also a need to make development more personal so it won’t be focused on the product and output of companies but also in a more invigorated workforce. She said during the event, “We need to humanize the way we train and the way we want people to learn.”

Asian Institute of Management (AIM) Dean Jikyeong Kang said a talent-centered workforce is vital to all industries but it still must be prepared for technological disruption especially now that industry is facing the Fourth Industrial Revolution. She told BusinessWorld on Tuesday, “Whether you’re a tech company or non-tech company, what’s really important is to focus on people acquiring the right talent and making sure you train.” — Gillian M. Cortez

Netflix’ Insatiable tackles the backlash in season 2

WHEN Insatiable first came out last year on Netflix, it was an immediately hit but spawned a backlash about fat-shaming. But its stars remind its audience — as it enters its second season, premiering on Oct. 11 — that this is a cautionary tale, not a morality tale.

“[Insatiable] is a cautionary tale. This is not a morality tale, we’re not saying this is what you should do — this is what can happen if you do the wrong thing or if you follow your impulses,” Debby Ryan, who plays Patty Bladell in the series, told reporters on Oct. 8 at the Shangri-La at the Fort Hotel in Bonifacio Global City, Taguig.

The premise of the show is simple: Patty Bladell is a high school student who has had to deal with bullying because of her weight. When an altercation leads to her jaw being wired shut and she has to go on a liquid diet, she loses weight drastically. Now that she’s considered conventionally pretty, a pageant coach and lawyer Bob Armstrong (played by Dallas Roberts) sees her potential as a beauty queen and she agrees, thinking that this is the way to get back at her bullies.

Then the show turns dark and bloody.

“People may think it’s a cute teeny-bopper show, but it’s not,” said Gloria Diaz, who guest-starred as a pageant coach and former Miss Universe Gloria Reyes, in the show.

Despite the backlash, the show was renewed for a second season and it starts off with the unfinished business that season one set up. It also addresses in its way the criticism leveled at the show.

“I’ve been working with someone who is so collaborative and so involved and [who] really cares about the nuances in the way that the story [is told]. So towards the backlash, she really does care about the intricacies of it and to be able to have those conversations with her every day on the set and ask why this person is doing this,” Ms. Ryan said noting that showrunner Lauren Gussis did listen.

“It was always less about how she looked and more about what every single woman and a lot of men experience in culture, which is this pressure to achieve this thing. or look this way. or fit in this mold… To me, it was always about making a story for a woman who has… found herself in dark places because of this unrealistic standard on all of us and this policing of women’s bodies,” Ms. Ryan said in defense of the show.

The second season — which this writer viewed before its premiere — does just that: it explores sensitive issues about recognizing when one has problems and seeking help, living as a mixed-race person, and trying to reconnect to one’s roots, among other issues.

But it’s still incredible messy, and funny, and self-aware.

Ms. Ryan noted that the beauty of working in the show is never knowing what comes next.

Like the role of Ms. Diaz, who first thought it was a prank when Netflix reached out to her to ask if she wanted to guest star in the show.

“I thought it was a joke at first, but then they followed up… and I said yes,” she said.

Her role is very much like her: Gloria Reyes was Miss Philippines and Miss Universe in 1969.

Although she is a guest star, her role is pivotal in the way Patty views her life after a short conversation with her.

“Queens take control,” Gloria Reyes tells Patty and that short sentence changes everything.

“I didn’t realize that but in the end, when I was thinking, it is true. Because when you win, you become the boss — they forget how difficult it was to get there and they forget everybody else… they forget the runners-up and the wannabes,” Ms. Diaz said.

When asked if her character — because of her line that changes Patty’s worldview — would usurp the role of Patty’s mentor from Bob Armstrong, Ms. Diaz said that Patty needs Bob to ground her even though Patty never listens to Bob.

“Bob is amazing. He is focused, he is flexible and goes back to where he started all the time,” she said.

Asked about the lengths Patty can go to in order to feel fulfilled, Ms. Ryan said that she believes “Patty has it in her to make things right.” It’s just that she never makes the right decisions.

“She feels that she wants to make things right. She has this need and this hunger. She thought it was food… then she thought it was pageants and winning… It’s never been enough,” Ms. Ryan said.

“If it hasn’t worked before, I don’t know what will fulfill her,” she added,

As the show goes from one stressful episode to the next — because it never does give one time to calm down from all the insanity from one scene to another — one wonders how it will all end. If Mr. Roberts has his way though, he said he’d love to end the series with “Bob and Patty walking while the world burns behind them.”

Insatiable Season 2 premieres on Netflix on Oct. 11. — Zsarlene B. Chua

Davao retail chain NCCC prepares to handle cashless transactions

DAVAO CITY — Homegrown retail chain New City Commercial Corp. (NCCC) is positioning for more cashless transactions with Thursday’s launch of the NCCC Mastercard in partnership with Metrobank Card Corp.

The card aims to provide NCCC shoppers with more convenient payment options and financial flexibility. It will also provide access to exclusive discounts and promotions in NCCC’s supermarkets and other retail chains.

Lafayette A. Lim, chief executive officer of the NCCC Group of Companies, said apart from the NCCC Mastercard, they are also working on electronic wallets and other systems like prepaid and postpaid services.

“NCCC is already preparing for.. and working on going cashless transactions,” he said.

The NCCC credit card replaces the existing NCCC Kanegosyo Rewards Card used by wholesalers and sari-sari store owners. Regular rewards card holders may also avail of the credit card.

“If you use cash, you still need to present your rewards card to earn points, but if you use your Mastercard, you don’t need to anymore show your NCCC rewards card because the Mastercard and NCCC rewards card are already linked together,” Joseph G. Uy, chief information officer of the NCCC’s LTS Pinnacle Holdings, Inc., explained.

The NCCC Mastercard can also be used in other shops nationwide as well as for online shopping.

“This is something new to us and we are all excited. I hope this would be successful and make this program beneficial not only to our company but to our Kanegosyo partners and customers,” Mr. Lim said. — Maya M. Padillo

Bed Bath & Beyond hires Target executive as CEO

BED BATH & BEYOND Inc. on Wednesday hired Target Corp’s Mark Tritton as chief executive officer, months after its long-time head, Steven Temares, left the company under pressure from activist investors, sending its shares up 23%.

Tritton joined Target in 2016 and is currently its chief merchandising officer. He takes over his new role at the houseware retailer in November, Bed Bath & Beyond said in a statement.

At Target, he was responsible for store revamps, private-label brands, product sourcing and design.

Tritton, who has 30 years of experience in the industry, also played a major role in doubling sales of department store chain Nordstrom Inc’s private label business.

His appointment comes at a time when Bed Bath & Beyond is struggling to keep pace in a rapidly changing retail landscape, dominated by the popularity of online shopping.

Earlier this year, a group of activist investors had piled pressure on Bed Bath & Beyond, citing falling sales under Temares’ leadership. Its sales have fallen in eight out of the past 14 quarters.

Since then, the company has cut jobs and eliminated key executive roles in its attempts to reduce costs.

Chris Kiper, managing director at Legion Partners Asset Management and one of the activist investors that pushed for a change at the company, cheered the appointment.

“We are so excited that he is joining (Bed Bath & Beyond),” Kiper said.

Tritton’s focus at Bed Bath & Beyond will be to enhance store and online experience and improve its product offerings, the company said.

“While it remains to be seen if he is the right person for the job, the merchandise improvements at Target during his tenure have been impressive, particularly the repositioning within home and apparel,” Gordon Haskett analyst Chuck Grom said.

Separately, Target named company veteran Michael Fiddelke chief financial officer and said two executives would assume interim leadership of the retailer’s merchandising organization, which comes months ahead of the crucial holiday shopping season. — Reuters

Two Popes filmmakers hope Pope Francis is amused

LONDON — Director Fernando Meirelles is a fan of Pope Francis but says his new film, which tries to get into the head of the Argentine pontiff, also shows some of his weaknesses.

The Two Popes is based on the story of Pope Benedict’s dramatic retirement from the papacy in 2013 and the ascendancy of Pope Francis and imagines some of the conversations the two men might have had.

“I did the film because I’m a big fan of Pope Francis. I think he’s a very important voice in the world today,” Meirelles said at the London film festival on Monday.

“He sees the planet as one thing and he’s trying to build bridges while everybody wants to build walls. So I decided to make the film to know him better and even to support what he says,” he added.

“It’s very honest. We show the mistakes that he’s done some 30 years ago in Argentina. But in the end, he comes across like somebody we should support,” the Brazilian filmmaker said.

The film, starring Anthony Hopkins as the traditional Pope Benedict and Jonathan Pryce as his more liberal successor, is set mostly in a movie set replica of the ornately decorated Sistine Chapel in the Vatican.

“It was just such a great character to play, showing his flaws and his weaknesses as well as his very positive strengths and what he can do as a kind of leader which we desperately need in political life these days; someone who can show us the way and show us how to live and go back to the old Christian values,” Pryce said.

The Netflix movie launches in US movie theaters in late November and on the streaming service in December. It is not known whether it will be screened at the Vatican.

“If he (Francis) sees it, I hope he is amused. I hope he isn’t angry. And I hope he understands that what we’ve tried to portray is the essence of the man and what he is trying to do,” said Pryce. — Reuters

Philex gets OK to use sub-level cave mining method for Silangan project

THE Mines and Geosciences Bureau (MGB) has given the green light for the Philex Mining Corp. to employ the underground sub-level cave mining method for its Silangan mine in Surigao del Norte.

“Philex Mining Corporation is pleased to announce that the Department of Environment and Natural Resources (DENR), through the MGB, in a letter dated September 26, 2019, has approved the underground sub-level cave mining method in connection with the previously issued Order dated April 10, 2015 approving the Declaration of Mining Project Feasibility (DMPF) of the Silangan Copper- Gold Project of Silangan Mindanao Mining Company, Inc., a wholly-owned subsidiary of Philex, under MPSA No. 149-99-XII,” the listed company told the stock exchange on Thursday.

Sub-level cave mining is a mining method that starts at the top of the orebody and develops downward. Ore is mined from sub-levels with regular intervals.

MGB’s approval of the mining method includes the three-year development and utilization work program on the mine from the second half of 2019 to the first half of 2022, as well as the Environmental Protection and Enhancement Program (EPEP), Final Mine Rehabilitation and Decommissioning Plan (FMRDP), and Social Development and Management Program (SDMP).

Philex Mining said the activities under the three-year development and utilization work program for the Silangan mine can now be implemented.

The Silangan mine has three deposit areas, Boyongan, Bayugo, and Kalayaan, the latter a joint venture with Manila Mining Corp. This is expected to be Philex Mining’s biggest source of revenue after its 61-year-old Padcal mine in Tuba, Benguet is set to be closed by 2022.

The operation of the Silangan mine was originally set to begin in 2018, but has been moved to 2022 due to the government’s ban on new open-pit mining introduced in 2017.

The mining company is also in the process of looking for possible investors for the Silangan project by December 2019.

The first phase of the mine covers the Boyongan deposit, which has an estimated mine life of 22 years. Target date for commercial operations is July 2022.

Philex Mining is one of the three local units of Hong Kong-based First Pacific Co. Ltd., the two other being PLDT, Inc. and Metro Pacific Investments Corp. Hastings Holdings, Inc. — a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc. — maintains interest in BusinessWorld through the Philippine Star Group, which is controls. — Vincent Mariel P. Galang

Delta pilots received record overtime while MAX crisis hit rivals

CHICAGO — Delta Air Lines pilots are receiving record overtime, straining the airline’s labor costs, in part because it has added more flights to fill a supply gap left by the grounding of the Boeing 737 MAX at rival carriers, union officials told Reuters.

The surge in overtime highlights a split in the fortunes of U.S. airline workers as carriers like Delta, which does not fly the MAX, scramble to meet demand while staff at rivals like Southwest Airlines and American Airlines sit at home on basic pay.

Delta issued a record 40,554 “green slips” — double-pay for overtime flying — between May and August, double the same period in 2018, according to pilot union Delta Master Executive Council, a unit of the Air Line Pilots Association.

“There were weekend days that I would get up to 10 calls a day to pick up an extra shift or an extra flight,” Delta pilot Dana Dann-Messier, who flies a Boeing 717, told Reuters.

“There were times when the pace of the summer was so hectic that guys wouldn’t be volunteering because they were so wiped out,” said Dann-Messier, who is based in Atlanta.

Delta, due to publish third-quarter results on Thursday before the market opens, last week raised its estimate for growth in third-quarter cost per available seat mile, excluding fuel costs, to about 2.5%, in part due to employee wage increases.

“Maintaining the operational reliability customers have come to expect and love about Delta required additional pilot flying this summer, largely due to severe weather impacting our operation and some incremental flying above our previous plan,” Delta spokesman Michael Thomas said.

He played down the 737 MAX grounding as a major contributing factor.

Still, Delta’s third-quarter capacity growth is expected to outpace that of U.S. rivals whose capacity has stagnated or even fallen as slimmer fleets without the MAX force over 100 daily flight cancellations.

Part of that growth, which Delta has estimated at around 4% for the third quarter, reflects flying that it has covered for partners Aeromexico and WestJet, which both own the MAX.

“They had an opportunity for more flying,” Raymond James analyst Savanthi Syth said, while adding that challenging weather this summer, particularly where Delta has a lot of operations in the U.S. Southeast, also likely contributed to the overtime hours.

While overtime is voluntary for pilots, the union has argued that Delta needs to increase the pace of its hiring to better cushion its ranks.

Delta said it continues to hire pilots this year and plans to add more than 900 in 2020.

Meanwhile, Southwest, the world’s largest Boeing 737 MAX carrier, has delayed pilot hiring while the jetliner remains grounded.

Its pilot union this week sued Boeing Co for an alleged $100 million-plus in lost wages they attribute to reduced flying time because of the grounding, now in its seventh month.

American Airlines’ pilots have demanded compensation over lost pay but have not filed any lawsuits.

The Boeing 737 MAX was grounded worldwide in March following two fatal crashes that killed 346 people within five months. — Reuters

No kidding

Joker
Directed by Todd Phillips

YOU’D THINK the director of The Hangover doing an aggressively somber adaptation of an iconic comic-book character was a joke, but no. You’d think the movie being given an eight-minute standing ovation, then a Golden Lion at the 76th Venice Festival was meant to be an elaborate prank but apparently not.

No, this is a serious-as-a-heart-attack origins story of the character created by Bill Finger, Bob Kane, Jerry Robinson (who exactly did what still in dispute), previously incarnated on screens big and small by Cesar Romero, Jack Nicholson, Heath Ledger, and Jared Leto (not even going into the animation voices, except that the most memorable was Mark Hamill’s).

Director Todd Philips assembles a grab bag of Joker stories and favorite (*koff koff* Scorsese *koff koff*) movies, mostly Taxi Driver and King of Comedy but unlike say Brian de Palma or James Gray, who brazenly quote from others to later take off into their own personal ethers, his feels more like rote transcription, photocopied images pinned to his inner bedroom walls. If he jerked off to them I’d grudgingly grant him respect for the perversity of his taste, but no; we’re all invited to the group jerkoff, a grand repackaging of a classic DC supervillain, the ultimate incel (involuntary celibate) for our sexually-deprived firearm-supplied times.

The first half is I suppose best, when Phillips is most closely channeling Taxi Driver: handsomely lit, rain-streaked city streets, ostensibly Gotham but shot mostly in New Jersey or New York, and I’m thinking: eye-catching, but no patch on Michael Chapman’s blood red, steel blue, concrete gray work, verite realism pushed to the garish expressionist edge. Hildur Guðnadóttir’s music is of a piece in suggesting urban alienation, but Bernard Hermann’s sax and snare drum score both pointed up the muddled ideals percolating in Travis Bickle’s head (the score is what Bickle wants playing as soundtrack to the movie of his life) and struggled with Scorsese’s more skeptical imagery (basically: any point of view not Bickle’s — Betsy’s and Palantine’s are crucial — plus the floating overhead shot that surveys the climactic bloodbath).

That I’d say was the genius of the film, four major artists at the peak of their powers, working with and against each other and making sparks fly: Schrader who half-believed in the righteousness of his vigilante; Scorsese and De Niro, who were horrified; and Hermann, who intensified the conflict with his alternately swooning and menacing score. The only one with any artistic ambitions or sensibilities I see in Joker is Joaquin Phoenix; like his character (birth name Arthur Fleck) he’s stranded in the dark, all alone and with no real support.

Then Phillips throws in King of Comedy and you say: huh? King is a more ambiguous, more precise work, a scalpel to Taxi’s Smith & Wesson hand cannon. Referencing King makes sense I suppose — the guy is supposed to be a comedian — but the way it’s shoehorned in here highlights Phillips’ grab-bag approach. King asserts that celebrities are jerks and the people who stalk them are dangerous jerks who (though it never says this out loud) probably deserve each other; this movie plunks its sympathies solidly behind Fleck, giving us the sob story of his past, complete with physical abuse and adoption papers, jerking our tears as shamelessly as that other example of the self-destructive, self-absorbed male weepie, Bradley Cooper’s debut remake (with no Lady Gaga for fresh-faced counterpoint, alas).

Plus King is funny. Joker can barely muster a decent joke — maybe a few cheap digs at Leigh Gill as Fleck’s short co-worker — but King made us squirm in recognition of how far its protagonist Rupert Pupkin (Robert de Niro again) was prepared to go to meet Jerry Langford (Jerry Lewis), and how far Jerry was prepared to go to keep himself apart. Joker never comes anywhere near that level of disturbing because: 1.) it opts for a more hyperbolic look, a comic book’s idea of noir; and, 2.) we’re kept firmly on Fleck’s side, no matter how horrific his acts — bound even tighter in fact, since the acts are caused by his worsening madness and he’s clearly the victim. No ambivalence save the kind done in bright primary colors.

The movie takes off from Alan Moore’s The Killing Joke which Moore has since repudiated (rightly so, I think). That said, Moore’s treatment is not without interest: his Joker starts out an ordinary man who gave up his chemical engineering career in the half-assed hope that he can succeed as a stand-up comic; no mental condition, no history of abuse, just a depressed, basically decent guy who had one really bad day and snaps — hasn’t looked back since.

Modulating the character instead of starting him out at the extreme lower end of society helps, I think; it gives him a direction to go (down), gives us the chance to see ourselves in him — to see the possibility that extreme trauma might drive us crazy (or otherwise, which is the part of Moore’s story that’s often ignored). Insanity (not to mention a history of abuse and adoption) in Phillips’ movie is flashed at us like an ID badge — laughs at strange moments? It’s a condition. Violent tendencies? Condition. Imaginary relationship? Take a wild effing guess.

But I forget, it’s a comic book movie — we shouldn’t be applying high standards of characterization or motivation, though I’ve seen a few adaptations that don’t do too bad (Ghost World; American Splendor; A History of Violence) and a few original works involving masked vigilantes that present reasonably rounded protagonists (Super).

“But,” I’m asked, “surely you appreciate Phoenix’s eponymous performance, his latest and best chance to win an Oscar?” I’ve stopped trying to pick out performances; a performance that stands out in an otherwise bad movie is interesting — it suggests the actor was stuck in a poor production and just decided to do something creative on his own — but the movie remains bad. I think someone like Brad Pitt — who’s more Hollywood star than artist of Phoenix’s calibre — actually turned in a better performance in James Gray’s Ad Astra because the actor did what the director needed him to do: be the withdrawn alienated figure at the center of the interplanetary epic (which I find wonderfully perverse because it’s a large-scale production with a withdrawn alienated figure at the center). Phoenix is hanging out there in a vacuum: he has a muddled scenario with no rounded character to play, just a bunch of hazy notions cobbled together from different movies, ultimately meant to forcefit themselves into a pre-existing mythology. The other characters are disposable if not imaginary; even the mob that eventually idolizes him seems motivated more by script direction than recognizably human drives (“He’s the Joker! Follow him!”)*.

As for that last question — does Phoenix deserve an Oscar? It’s not even his best work — he was more unsettling in You Were Never Really Here where his swollen belly suggests depressed dissipation better than his emaciated ribs ever did here (I can imagine, having been there myself, a depressed man over- rather than undereating, especially in binge-prone America). Plus Lynne Ramsey, unlike Phillips, is a real filmmaker with an unsettlingly oblique take on action sequences, catching Phoenix on surveillance camera rounding corners or just passing out a doorway while the man he’s just bludgeoned with a ball-peen hammer collapses to the floor. Plus there’s the moment Joe gutshots the man who killed his mother and, as the man lies there on their kitchen floor dying, joins him in an agonized rendition of “I’ve Never Been to Me” — nothing in Phillips’ movie comes close to being as perversely tender, or grotesquely funny.

Does Phoenix deserve an Oscar? Considering that I think of an Oscar more as an indicator of big box-office and savvy marketing than of quality cinema — sure, why not? It’s flashy enough, and controversial enough, more in terms of articles written than ideas involved. Much good it’ll do him, and I suspect he knows as much.

*I suppose you can say the rioters recognize him as the killer of famous talk show host Murray Franklin (De Niro yet again) on TV — but if they were out on the streets rioting, when did they watch the show? And why should they care, since Franklin was never established as pro- or anti-rioter? While we’re at it, why would Franklin use the video of Fleck’s stand-up without permission, then invite him to the show without even a cursory security check (the guy could be a psycho!)? And why, if Thomas Wayne (if you don’t know who he is you probably shouldn’t be watching this) is a billionaire, wouldn’t he spend real money on security, for his son in the garden, for himself in the men’s room, for his family when out watching a movie (Couldn’t he afford a private theater?)?

Chelsea acquires SuperCat Fast Ferry

CHELSEA Logistics and Infrastructure Holdings Corp. (CLC) acquired 100% of the The SuperCat Fast Ferry Corp. (SFFC) from affiliate 2GO Group, Inc. (2GO).

“Please be informed that CLC acquired 100% of SFFC from 2GO Group on 9 October 2019,” the company owned by Davao-based businessman Dennis A. Uy said in a disclosure to stock exchange on Thursday.

CLC, which holds a 28.15% indirect economic interest in 2GO, did not give details on the transaction except to say the acquisition cost is less than 10% of its total shareholders’ equity.

2GO confirmed in a separate disclosure that SFFC is no longer a subsidiary of the company.

As of end-June, 2GO is 88.3%-owned by Negros Navigation Co., Inc., which in turn is 39.85% owned by KGLI-NM Holdings, Inc. (KGLI-NM). The ultimate parent of KGLI-NM is Mr. Uy’s holding company Udenna Corp. On the other hand, CLC is 70% owned by Udenna.

Mr. Uy is the chairman for both CLC and 2GO.

In the first six months of 2019, CLC reported a 15% drop in net profit to P308.4 million, dragged by 2GO’s losses.

2GO swung to a P188 million net loss in the first half, from a P197 million net income during the same period a year ago. The company saw a 10% increase in cost of services and goods to P11.14 billion due to higher fuel and commodity prices.

2GO’s first half revenues rose 5% to P12 billion, driven by the growth of its non-shipping business. — A.L.Balinbin

Insurance industry posts lower premium income

THE INSURANCE INDUSTRY’S premium income declined in the first half as the uptake of single premium variable products decreased, the Insurance Commission (IC) reported yesterday.

IC said the industry’s overall premium income went down 2.64% to P141.91 billion in the first six months, lower than the P145.76 billion logged a year ago, based on the unaudited quarterly reports submitted by life and non-life insurance firms and mutual benefit associations (MBA).

“The decrease in the total premium of the insurance industry can be attributed to the decrease in the uptake of single premium variable products due to global market uncertainty and economic slowdown,” Insurance Commissioner Dennis B. Funa was quoted as saying in a statement.

Single premium sales dropped 52.5% to P20.54 billion in the first semester from the P43.24 billion posted in the same period last year.

Meanwhile, premiums collected from traditional life products grew 12.55% to P31.17 billion from the P27.69 billion a year ago, the IC reported.

“A remarkable increase of 94.97% should also be noted in single premium policies of traditional life insurance from P1.1 billion in Q2 2018 to P2.2 billion in the same quarter in 2019,” Mr. Funa said.

Meanwhile, first-year and renewal premiums for variable life products increased year-on-year by 11.67% and 32.94%, respectively, while the “significant” drop in single premiums dragged the overall sale of variable life insurance products.

The non-life insurance sector’s net premiums, meanwhile, climbed 12.98% year-on-year to P27.61 billion from P24.44 billion from a year ago. Of this total, motor car insurance contributed around 49.47% or the majority of total net premiums.

Likewise, premium income of the MBA sector grew to P5.88 billion as of June, 13.54% higher from the P5.18 billion booked from the same period in 2018.

Overall, the industry’s total assets stood at P1.72 trillion in the first half, 11.79% higher than the P1.54 trillion posted a year ago.

Mr. Funa said bulk of industry’s assets or 88.37% worth P1.52 trillion were held in income-generating investments.

“As of end of the first half of this year, the three sectors of the insurance industry registered positive growth in terms of assets,” he said.

The sector’s total investment portfolio also grew 19.59% in the first semester to P1.52 trillion from P1.27 trillion a year ago.

By sector, total investments of life insurers stood at P1.33 trillion, P107.91 billion for non-life firms, while the MBA sector had P85.25 billion.

“Government securities maintained their attractiveness to both life and non-life sectors,” Mr. Funa said.

Such instruments comprised 36.21% or P480.93 billion of the life insurance sector’s total investments, 32.82% or P35.42 billion of non-life sector’s and 32.84% or P28 billion for the MBA sector. — B.M. Laforga