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Boulevard Holdings banks on Boracay reopening to boost sales performance

BOULEVARD Holdings, Inc. (BHI) is banking on the reopening of tourist destination Boracay Island this month to improve its business, after posting declines in its sales performance during the island’s six-month rehabilitation.
In a disclosure to the stock exchange on Thursday, the listed firm, which operates Friday’s Boracay Beach Resort, said sales dropped by 51% in the four months ending September to P11.5 million, versus the P23.6 million generated in the same period a year ago.
Sales in September alone however managed to rise 15% to P4.32 million, compared to P3.75 million seen in the same month last year.
BHI earlier said the closure of Boracay will lead to foregone revenues of P6.5 million from April to October, in addition to some P35 million set to be spent on fixed costs and expenses for the upkeep of the resort for six months.
The company also lost P22 million in cancellations of advanced deposits from customers in China and Germany after the Department of Environment and Natural Resources (DENR) announced the island’s closure.
The DENR has scheduled a soft opening for the island on Oct. 15, with a full reopening on Oct. 26. It is likewise limiting the number of tourists in the island per day to 19,000, with daily tourist entry capped at 6,405, with the assumption they will only stay for two to three days.
BHI expects the island to become more enjoyable to both local and international guests once Boracay reopens, saying that it hopes for a balance of economic and development sustainability in the island. The company said the widening of main roads from Cagban Jetty Port to the island’s main areas will also reduce traffic, thereby improving guest satisfaction. This is further expected to boost tourist arrivals.
“The company expects improved business and to reap the rewards back to the 1980 resort environment that tourists fully access the beach front,” BHI said. It also expects the local government to continue its efforts to rehabilitate the island moving forward.
BHI swung to a net loss attributable to the parent of P1.77 million in the nine months ending February, versus an attributable profit of P2.02 million in the same period a year ago. Revenues meanwhile went up to P79.37 million, 11% higher year-on-year.
Shares in BHI dropped by 1.64% or 0.1 centavos to close at six centavos apiece at the stock exchange on Thursday. — Arra B. Francia

Mad Men creator returns to theme of identity with new show The Romanoffs

LONDON — Mad Men creator Matthew Weiner is back with a new television series, but while this one is set far from the 1960s world of advertising, he says the themes are much the same.
The Romanoffs features eight contemporary drama stories about people who believe they are descendants of the Russian royal family, and a handful of Mad Men actors including Christina Hendricks and John Slattery.
Released on Amazon on Oct. 12, it is Weiner’s first television venture since winning nine Emmys for Mad Men, whose tale of restless and conflicted American ad executive Don Draper ended in 2015.
Weiner, who created, wrote and directed The Romanoffs, says the series looks at questions of identity, and nature versus nurture.
“Who am I? Am I entitled to more because I was born a certain way? Am I a survivor because I was born a certain way?” Weiner said of the show at its premiere in London on Tuesday.
“But even though my work is viewed that way, I really wanted to do a show that was entertaining,” he said.
The Romanoffs is set in seven countries, and each self-contained episode has a different cast, including Diane Lane, Corey Stoll, Paul Reiser, Isabelle Huppert, and Marthe Keller.
Weiner said he was attracted to the story because of what the Romanoff name says about current notions of celebrity and fame. The Russian imperial dynasty ruled for 300 years until the 1917 Russian revolution, when 18 of them were killed and more than 40 remaining members fled abroad.
“It’s a time when we’re wondering why we used to be great,” he said. “Part of my fascination with the Romanoffs was that it (royalty) still has so much prestige.”
Early reviews for The Romanoffs, which will roll out on a weekly basis on Amazon, have been mixed. Variety called it “ambitious,” Rolling Stones said the episodes had “moments of brilliance amid unchecked sprawl,” and IndieWire called it “shallow and self-indulgent.” — Reuters

Monster, Inc.

By Noel Vera
Video Review
My Neighbor Totoro
Directed by Hayao Miyazaki
(CAUTION: plot and narrative twists — which aren’t all that much and anyway aren’t the heart of the film — to be discussed in explicit detail!)
HARD TO BELIEVE Hayao Miyazaki’s My Neighbor Totoro was seen as a too-risky project, and had to be double-featured in its original commercial run with Isao Takahata’s Grave of the Fireflies; both made a modest profit ($6.1 million in Japan and Europe according to Wikipedia), but Totoro on home video became a family favorite, earning $265 million in Japan and the USA (again according to Wiki — you often wonder at their figures). The film eventually became a minor cultural phenomenon: Studio Ghibli adopted the creature as its corporate logo, an asteroid was named 10160 Totoro, a Vietnamese velvet worm was dubbed Eoperipatus totoro.
The film itself is considered a family friendly delight, purest sunshine and cheer. Some fans though would like to make the case that the film is actually darker than it appears, and may be the animator’s (a legend in the industry, known for epic fantasy-adventure features like Nausicaa of the Valley of the Wind and Princess Mononoke) true masterpiece.
Totoro is definitely well-made. The opening sequence is as quotidian as can be: a family with belongings piled high on a little truck, driving through the Japanese countryside (Tokorozawa City in Saitama prefecture, a former farming community — the film having been set in 1955, more or less). But the background art is breathtakingly intricate (by Kazuo Oga, who has worked on the landscapes in Miyazaki’s films from Kiki’s Delivery Service to Ponyo) and the truck rushes past a field of fresh-planted rice, the flooded paddies reflecting the solid blue of sky, the bright green plantlings rushing by in a startling display of full-motion animation.
Your skin tingles, the little hairs (if you are at all aware of the difficulties of animating anything on film) along your arm rise in excitement; you’re primed for something especially funny or dramatic to happen and Miyazaki rewards you with some 10 minutes of the family — Tatsuo Kusakabe, his daughters Satsuki and Mei — opening up the house they had just bought, moving in their belongings, basically enjoying the creaky old house’s benign spookiness.
Not what folks would consider attention-grabbing cinema. But again Oga works wonders on the backgrounds — the house is all dark shadows and splintered wood, and what are those furry little balls with eyes that scurry out of sight when you open a door? Not roaches or mice — Granny explains that they’re “soot sprites,” little creatures that inhabit uninhabited houses; if they decide you’re good people they’ll leave you alone, perhaps move somewhere else (they like their solitude).
The Kusakabe move in and establish a comfortable rhythm: Satsuki goes to school, Tatsuo works at home, Mei runs about looking for things to gawk at or poke. A natural-born filmmaker, she uses the rusted-away bottom of a water bucket as a rough camera frame to peer at her surroundings, and (the everyday magic of framing, that it can focus attention and reveal details) spots the glint of a shiny acorn (they have been dropping from the house’s ceiling for no apparent reason). She spots a pair of white rabbitlike ears making its way through the grass; out pops what looks like a cross between a bunny and a raccoon — she has found a Chibi (small) “Totoro” (her mispronunciation of “tororu” or troll).
The Totoro runs; she gives chase. The animal scampers under her house’s front steps through broken slats, hides in the crawl space. Mei decides against ducking under the steps, looks for another opening, peers into the dark (she can see — something — moving in there but the little figure seems to have a sack slung over one shoulder). She squats and waits and here a neat example of how Miyazaki likes to frame and stage action: crawl space hole to the left, Mei in center frame; a butterfly flutters in from the right, cuing you that something might happen at that end. Not one but two Totoro — the white one, and a larger blue Chuu (medium-sized) — pad quietly past her, one of them carrying the previously glimpsed sack.
Lovely little sequence melding the precisely observed behavior of a little girl running after an even littler animal with a clever minor plot point inserted: the Totoros — who presumably feed on acorns — have been storing them in the old house; now that people have moved in they’re trying to smuggle the nuts to a quieter place.
Miyazaki presents the various spirits and creatures inhabiting the edges of the film and landscape thusly, and with similar nonchalance introduces the film’s more serious subtext. Tatsuo, Satsuki and Mei take a biking trip, a happy outing with a purpose: they’re visiting Yasuko, Satsuki and Mei’s mother, who is confined at a hospital (her ailment isn’t specified, but Miyazaki’s mother suffered from spinal tuberculosis). The crisis some days later when Yasuko isn’t able to visit their new home as promised; apparently she’s caught a cold and needs to recover.
Mei throws a tantrum. The fissures implied in the hospital visit — Mei, who usually defers to Satsuki, acts a bit like an attention-hungry brat around their mother — have pulled wide open. Satsuki yells at Mei, who screams rage and disappointment (thought the voice acting quite good — the Japanese better than the English — the character animation perfectly capturing the way not just two girls but two closely bonded sisters quarrel). They mope about the house while awaiting further news from their father. Then Mei disappears; she has apparently run away from home.
Satsuki looks for Mei with increasing desperation, and without much fuss or comment Miyazaki dims the sun over the lovely Japanese countryside, suggesting with all the empty fields and silence a forlorn deserted look; occasionally Satsuki meets a farmer working late in his field or another taking his wife on a motorbike ride — they’re polite but not much help, and their presence just emphasizes the emptiness of the landscape. Suddenly news — a child’s slipper floating in a pond! Was it Mei’s? Miyazaki doesn’t pound the ear with dramatic music or have Satsuki shriek in dismay; he simply cuts to a little pink sandal floating in water, arguably the single saddest shot in the film.
Possibly the film’s finest element is in the way Miyazaki folds the fantasy into everyday family busyness. While no one actually contradicts Mei and Satsuki’s assertion that Totoros exist — if anything Tatsuo explains that spirits can make their presence known if they want to — Miyazaki leaves the film open to the suggestion that perhaps these creatures are manifestations of the children’s unconscious feelings and desires. Mei in a fit of boredom — running in and out of frame as her father works in the foreground — dreams up the Chibi Totoro and its blue brother the Chuu Totoro complete with sack of acorns. Later when the father goes to the university to teach (he’s an archeology professor) and Satsuki has to attend school, Mei is farmed out to Granny and throws a tantrum; Satsuki ends up having her sister sit with her in class. Later there’s a downpour and Satsuki and Mei — who notice father has left his umbrella at home — decide to wait for him with his umbrella at the bus stop. Lonely portrait of two kids left to their own devices, waiting for a dad too busy to come home on time… and perhaps Satsuki taking her cue from Mei conjures the sound of big padded feet squishing into muddy ground. Is that a 10-foot-high creature with nine inch claws — an Oh (big) Totoro — standing beside her? A frog across the road croaks assent; yes, this is real and, no, you aren’t imagining him.
For the final crisis with Tatsuo at the hospital and Satsuki left to herself — without even the presence or support of Mei — of course she has to turn to the Oh Totoro, and of course things turn out all right. But consider: we see the mother at the end credits happily hugging her daughters, presumably at home — but this is at best a brief visit, the mother still stricken with tuberculosis, the children still having to do their growing up without her. Miyazaki gives us a brightly tinted childhood of happiness and delight — when the Oh Totoro rises to the air with the children clinging to his chest fur is perhaps the most exuberant moment of flight in all of Miyazaki (considering nearly all his films depict flying) — only to smuggle into the feast like a sack of acorns an unyielding kernel of sadness.
My Neighbor Totoro was released on Blue Ray in 2017.
* Background art in Japanese anime in general is given more care and consideration than in American productions — true even today when most backgrounds are digital renderings of photographed landscapes. Oga has been praised for the photorealism of his work but there’s more to him than just slavish mimicry: the forests in this film seem luminescent, betray a serene inner glow as if shining with a sense of heightened life of sharpened awareness.

Consumer group questions TransCo’s FiT overpayment

A CONSUMER GROUP has questioned the P36.53 million overpaid by National Transmission Corp. (TransCo) to renewable energy (RE) companies for the power they produced under the feed-in tariff (FiT) system, and sought a disclosure of an updated figure while pushing for changes in how the amount is being computed.
“What was the basis of TransCo’s computation of overpayment?” Victorio Mario A. Dimagiba, president of Laban Konsyumer, Inc., said in an e-mail sent to reporters.
Based on documents from the Energy Regulatory Commission (ERC), the discrepancy arose after TransCo used the capacity mentioned in the FiT certificate of compliance issued by the regulator to the RE companies, which turned out to be larger for some of them than what was listed in the certificate of endorsement issued by the Department of Energy (DoE).
The DoE issues its endorsement to determine which among the power plants were first to dispatch energy to the grid and qualified to receive the FiT or the guaranteed fixed payment. The so-called “race to FiT,” which capped the installation target for each RE sources, hastened the development of power generation projects.
The DoE endorsement becomes the basis for the certificates of compliance issued by the ERC, which are in turn reviewed by TransCo before issuing a renewable energy payment agreement to the developers.
“How can we be sure that the overpayment should not actually be larger than estimated by TransCo as no details were provided?” Mr. Dimagiba said. “What is TransCo’s latest estimate of the overpayment amount?”
Mr. Dimagiba also asked whether ERC should initiate a rule-making process to amend its own FiT rules to clarify that TransCo should compute tariff payments based on DoE’s certificate of endorsement, instead of ERC’s certificate of compliance.
In June, the ERC resolved the overpayment issue by directing TransCo to offset the amount given to the generation companies on a staggered basis for one year for those that received P1 million or more, and a one-time offsetting for amounts below P1 million.
The feed-in tariff system offers cost-based compensation to renewable energy generators, providing price certainty and long-term contracts that help finance investments in clean energy.
Sought for comment, Sharon O. Montañer, who heads ERC’s financial and administrative service, said there was no increase in the amount after the agency’s order in June. She added that ERC had since used the DoE figure in the computation.
She said TransCo would simply offset the overpayment from the future claims of the renewable energy companies. — V.V. Saulon

Banks fail to comply with required Agri-Agra lending

By Melissa Luz T. Lopez, Senior Reporter
BIG BANKS again failed to comply with required lending to the farming sector in June, which came at a time of robust asset growth, latest central bank data showed.
Universal, commercial and thrift banks ignored the prescribed credit quota under the Agri-Agra Law as of the first semester, with total lending to the industry settling to roughly half the required amounts during the period.
Republic Act 10000 or the Agri-Agra Reform Credit Act mandates banks to allot at least 10% of its total loanable funds to agrarian reform beneficiaries and 15% for farmers and fisherfolk.
Banks only extended P629.98 billion loans to the agriculture sector as of end-June, or just 54.7% of the P1.151 trillion they should have lent out to beneficiaries during that period. However, this is 26% higher than the P500.79 billion worth of credit lines granted to the industry as of June 2017, according to latest data from the Bangko Sentral ng Pilipinas (BSP).
Based on data from previous quarters, the bigger lenders mostly prefer to pay penalties for non-compliance rather than lend to the so-called “risky” segment.
Broken down, there is dismal compliance for the 10% agra component, with approved loans just at 0.98% of the banks’ available funds of P4.605 trillion. The lenders extended P45.052 billion to agrarian reform land developers as of June, 58% higher than the P28.531 billion granted during the same period in 2017.
Big banks posted the lowest compliance rate, having set aside 0.78% of loanable funds or P33.361 billion to the sector, a far cry from the P427.094 billion they should have given. Thrift banks also missed the requirement and handed out P3.33 billion for agrarian reform, well below the P25.962 billion standard.
In contrast, rural and cooperative banks surpassed the floor rate and allotted over 11% of their available funds. This amounted to P8.361 billion, well above the P7.477 billion minimum prescribed under the law.
Banks were more upbeat towards farmers and fisherfolk, with industry compliance at 12.7% versus the 15% minimum. Lenders gave a total of P584.928 billion loans as of June, up by a fourth from the P472.255 billion granted during the same period last year although still short of the P690.799 billion standard.
Big lenders granted P548.885 billion for agriculture-related activities during the first half, against the P640.64 billion which they should have provided. This accounted for 12.85% of their loanable funds. Thrift banks were also reluctant to lend to the sector, having given only P6.84 billion against a P38.944-billion requirement.
For their part, rural and cooperative lenders surpassed the legal requirement and allotted 24.5% of loanable funds for the agri component. This is equivalent to P18.291 billion, well above the P11.215 billion minimum.
Banks are given several options to meet the required lending. Direct compliance involves extending credit lines to qualified borrowers and the purchase of eligible loans from other financial firms.
Meanwhile, alternative methods include investing in duly-declared eligible debt instruments, investing in the special deposit accounts of BSP-accredited rural lenders, wholesale lending to rural banks, granting rediscount loans to other banks covering farm loan credits, and the extension of loans for public infrastructure for the benefit of the farming sector.
BSP Deputy Governor Chuchi G. Fonacier previously said the Agri-Agra law may be amended to include other forms of credit as compliant borrowings, such as financing for farm-to-market roads and related infrastructure.

C-suite gender equality deemed critical in finance

MCKINSEY & Co. said gender disparity in the boardrooms of financial institutions remains an issue in the Philippines, and called female representation important in the context of a customer base that is growing more diverse.
McKinsey Managing Partner Kristine Romano said even though the banking industry employs more women than men, C-suite representation remains a “real issue.”
“What’s interesting about this market is that in general, in financial services, there are actually more women than men in banks — for example, tellers and branch staff are typically >50% female,” Ms. Romano told BusinessWorld via e-mail.
“However… the real issue in the Philippines, as we find in other markets, is the ability of women to get to the most senior posts in banking.”
She cited a September study conducted by McKinsey and LeanIn.org in North America, which found that only 19% of top positions are held by women in financial services, noting that key barrier to the rise of women was what she called an ambition gap.
According to the Closing the gap: Leadership perspectives on promoting women in financial services research, over half of the women — or those who have reached the level of vice-president or above — believe that they have missed out on opportunities because of their gender, compared with just 10% of their male peers.
The study added that women are promoted at lower rates than men across all sub-industries, which include asset management and wholesale banking, banking and consumer finance as well as insurance.
Ms. Roman said harnessing gender diversity in the workplace is “critically important” at a global level as clients are getting more diverse as well.
“The concern is that as the traditional customer base becomes more diverse, so too must the companies that service them,” she said.
“Many we spoke to believe the competitive marketplace ultimately will demand diversity from financial services providers-especially as women increasingly take the financial reins of their households.”
Aside from providing representation to better reflect the more diverse customer base, Ms. Romano added that promoting gender parity in the workforce will also translate to profitability for the company.
The study indicates that companies rated in the top quartile for gender diversity on executive teams were 21% more likely to outperform in terms of profitability.
“Our research shows that firms that are more diverse are in fact more profitable, so this is a business imperative, not a ‘nice to have’ initiative,” Ms. Romano said.
McKinsey proposes a number of best-practice solutions to help achieve gender equality in the industry, such as enhancing access to sponsorship, eliminating bias from performance reviews and promotions, giving employees more flexibility to balance work and family and building accountability into the system through diversity targeting among others.
“While it’s hard to predict precisely what the future looks like, our view is that the more that corporate leaders — both male and female — view gender equality as a strategic priority and one that is integrated into the organization’s day-to-day work, the more we can realistically expect a change to occur,” Ms. Romano said. — Karl Angelo N. Vidal

Half of The Last Jedi haters were bots, trolls, activists, study says

LOS ANGELES — How much did movie fans hate Star Wars: The Last Jedi?
Perhaps not as fiercely as social media might suggest, according to a US academic study which found that half of negative tweets about the 2017 movie came from bots, trolls, or political activists, some of whom may be Russian.
Star Wars: The Last Jedi, which focused on ageing Jedi Luke Skywalker’s reluctance to be drawn back into the battle against the dark side in the sci-fi saga, prompted criticism online after its December 2017 release.
Many lashed out at key roles given to women and actors of color in the movie, while others were dismayed at the apparent death of Skywalker, played by Mark Hamill.
The Disney movie took $1.3 billion at the global box-office, compared to $2 billion for 2015’s Star Wars: The Force Awakens.
A study by University of Southern California (USC) research fellow Morten Bay, released on Monday, analyzed the language, Twitter handles, and IP addresses of more than 1,200 tweets sent to Last Jedi director Rian Johnson’s Twitter handle in the seven months after the film’s release.
“Overall, 50.9% of those tweeting negatively was likely politically motivated or not even human,” Bay wrote. He said they appeared to be using the debate around The Last Jedi “to propagate political messages supporting extreme right-wing causes and the discrimination of gender, race or sexuality.
“A number of these users appear to be Russian trolls,” Bay added in the paper, called “Weaponizing the Haters: The Last Jedi and the strategic politicization of pop culture through social media manipulation.”
Disney did not respond to a request for comment on the research but Johnson said on Twitter that the overall findings were “consistent with my experience online.”
“This is not about fans liking or not liking the movie — I’ve had tons of great talks with great fans online and off who liked and disliked stuff, that’s what fandom is all about. This is specifically about a virulent strain of online harassment,” Johnson tweeted on Tuesday.
Bay compared his findings to other studies around attempts to influence Americans through social media platforms.
Bay said the likely objective was to increase “media coverage of the fandom conflict, thereby adding to and further propagating a narrative of widespread discord and dysfunction in American society.”
A US Senate panel has been examining reported Russian efforts to influence US political public opinion before and after the 2016 election of President Donald Trump. — Reuters

Good intentions


By Anthony L. Cuaycong
THERE’S NO QUESTION that the Gundam franchise has become huge to the point of ubiquity. These days, offshoots of animation studio Sunrise’s intellectual property can be found practically anywhere, way beyond the small and big screens and into toy establishments, hobby shops, book and video game stores, and collectors’ corners. It has become so ingrained in popular culture that a 65-foot-tall Unicorn mecha in Odaiba stands as one of Japan’s biggest — literally and figuratively — tourist attractions.
Considering how the franchise has turned into a veritable money-making machine, it’s hard to imagine that it once came close to being relegated to the dustbins of history. Mobile Suit Gundam, the television series that introduced it to the public in 1979, lasted just three months short of a year due to low ratings. Still, Bandai must have seen something in the 43 episodes that aired since it produced themed merchandise shortly thereafter. The decision spawned a juggernaut that now generates close to ¥100 billion in revenues yearly.
Needless to say, a chunk of the Gundam-related income Bandai Namco pulls in comes from its video game business. In terms of quality of the titles, the franchise has had mixed results. Still, there can be no doubting its intent to vary the ways in which it dips from the well, if for no other reason than to entice loyal fans to maintain their support with each new release. In this regard, the Gundam Breaker line has seen worthy improvements, with Gundam Breaker 3 representing an apex in the way it incorporates real-life Gunpla (the construction and beautification of mecha model kits) in the gameplay.
Parenthetically, gamers who appreciated the hack-and-slash action in Gundam Breaker 3 couldn’t wait for its successor to hit the shelves. And if New Gundam Breaker gained significant attention heading into its release, it was precisely because of the heightened anticipation of something better having been created in the two and half years that passed.
Given the extremely high expectations, New Gundam Breaker may well have been doomed to mediocrity even if it managed to retain much of what made Gundam Breaker 3 tick. As its very name indicates, however, it presents quirks to the previously established series structure where players engage in Gunpla and then subject their creations to battle after battle. Even as it still involves a lot of building and customization, it has, in cases, modified mission parameters as to require the completion of objectives other than combat, and under trying circumstances to boot.
The premise of New Gundam Breaker is, to be sure, no more or less weighty and sound than those of its predecessors. Offered in visual-novel format, the Story Mode is set in a Japanese high school where academics steeped in Gunpla are terrorized by a Student Council bent on making the strong, well, stronger at the expense of the weak. With this as backdrop, players control the main character, an outstanding builder and fighter with designs of becoming a professional, and get him to form and lead a rebel group in an effort to uphold the institution’s egalitarian purpose.
If nothing else, the narrative fits with New Gundam Breaker’s objective of engaging players in Gunpla creativity and excellence as validated by victories in combat. Perhaps it goes too far with its relationship-fostering aims; in order to flesh out interaction between characters, the dialogue can be tedious and repetitive. With an art style and thematic design that hews to the younger set, the presentation initially catches the eye, but could well prove diversionary and immaterial to those bent on action.
In this light, New Gundam Breaker’s battle mechanics are where estimation of its value will ultimately be based. Were its combat parameters the same as those of its older siblings, it would be forgiven its character-development missteps. Unfortunately, it boasts of changes that make progress and progression difficult. The degree of customization allowed and required remain all but boundless, a decided plus. However, the acquisition and collation of necessary components entail considerable in-game currency that grinding is inevitable, and to the point of excess. And even as these parts can be scavenged and salvaged during skirmishes, the odds of the right ones being made available through this route range from slim to zero.
Certainly, it doesn’t help that New Gundam Breaker’s cooperative modes have a task-completion bent that serves to muddle the path to success. Three-on-three scenarios don’t always lead to direct confrontations. Instead, the opposing teams aim for victory by way of points garnered when specific goals are attained. And when battles do break out, mechas take such damage that appendages can be lost as quickly as they are found. Meanwhile, noticeable lags and uneven frame rates make online options risky at best.
To its credit, Bandai Namco has taken the backlash against New Gundam Breaker in the two months since its release seriously, and has, in turn, resolved to make the gameplay better over time through continuous patching, not to mention implemented deep discounts to its sticker price. For longtime fans of the series, the hope is that the changes make the latest release more like previous ones. Until then, though, it serves as a stark reminder of what the road to heck is paved with. If there’s any consolation, it’s that the franchise will keep thriving, and that, somewhere in the not-too-distant future, a newer, better Gundam Breaker will be in the offing.

Tom Hardy brings out Marvel’s darker side in new movie Venom

LOS ANGELES — In the new movie Venom, British actor Tom Hardy plays an investigative journalist whose body is invaded by an alien with violent instincts who feeds on a diet of human flesh.
It is a darker tale from the Marvel Comics superhero universe than what audiences have seen in recent films such as The Avengers series released by Walt Disney Co.
“His version of doing good is just eating,” Hardy said of Venom. “The world is an all-you-can-eat buffet, and human beings are on the menu, so that’s not great for humanity as your hero.”
The story is a Jekyll-and-Hyde tale where Hardy’s journalist character, Eddie Brock, tries to keep Venom’s bad behavior under control. Venom is being released by Sony Pictures, which owns rights to several Marvel characters that are not owned by Disney.
Hardy said Venom has similarities to several classic monster movies.
“There’s an element of original Ghostbusters, a slightly ’80s retro vibe to it, which I enjoyed, and a bit of Teen Wolf and American Werewolf in London vibe to it,” Hardy said.
The star said he also received input from his 10-year-old son on how to play the role.
“My son’s a massive fan of Marvel and Venom, and he was very clear about what I can and can’t do,” Hardy said at the movie’s red-carpet premiere, adding “It’s very odd being told what to do by your son who’s 10 and him being right.”
Venom co-stars fellow British actor Riz Ahmed as villainous corporation owner Carlton Drake and Michelle Williams as Brock’s former girlfriend. It is the first time Oscar-nominated Williams has starred in a superhero movie.
Venom was created by comic book writer Todd McFarlane, who invented the new character after he struggled to draw Spider-Man.
“Venom is a by-product of me wanting to draw a blue and red Spider-Man costume,” McFarlane said. “Thirty years later, you’ve got a big movie!” — Reuters

Corporate governance in a family-owned corporation

AT THE BAIPHIL 3rd General Membership Meeting, corporate governance “guru” and guest speaker Dr. Jesus Estanislao emphasized that governance demands a focus on the long-term, realizing a great “vision” in five to ten years. Governance demands a focus on the institution and what the institution should become. Yes, people are very important, but cautioned against personalities. He said governance asks for a strategy, a set of priorities pursued across all the different facets of any business. The key focus is on priorities which must be inter-connected and mutually supportive.
How then does one apply and observe them to a family-owned or controlled corporation? Tough question, he said, especially if the founding patriarch is still around. Governance goes way beyond mere practices and rules. It is made alive and comes into genuine force only if individuals decide to take on and personify the basic governance personal values such as integrity, fairness to all, personal discipline and courage. These are the personal values that make governance really count. These are the governance values that should be adopted by all corporations. Dr. Estanislao said this is required of everyone and more so of family members, given their significant position within a family-owned corporation, they are specially called upon to observe these personal governance values.
Is governance all about compliance? Is it simply ticking off some 100 scorecard questions such as:
• Do we have diversity e.g. enough women directors in our board?
• Do we have enough independent directors?
• Are the independent directors within their 9-year limit? (Former Prime Minister Cesar Virata told me “Flor, do you mean to tell me at the end of the 9th year, I lose the independence in my decisions?”)
• Do we provide for electronic voting during our AGM?
• Is the chairman different from the CEO, etc.?
Governance is more than compliance, it is a mindset, a development mindset, an institution-strengthening mindset, one that wants to ensure long-term sustainability of high-level performance and therefore, it is more than a box ticking exercise. We need to ensure that we have a clear answer to questions such as:
• Do we have a clear long-term strategy associated with the vision we have?
• Do we have a clear road map on how to deliver transformation and game-changing results, using a performance scorecard?
• Do we have a corporate culture that aims to transform individuals, teams, and the whole enterprise itself into governance and transformation agents to benefit the wider community as well?
He asked what non-family members should bring to the governance table so they contribute to adding value to the family-owned and controlled corporation they work for. The answer is the same whether one works for a family corporation or a widely owned corporation. The institutional governance values of commitment and loyalty (not to personalities), but to the corporation and its progress, sustained into a long-term future. Commitment must come with competence — the continuous acquisition of knowledge, skills, and culture to meet the challenges of a changing environment. Commitment with competence and loyalty should also have the spirit of service, which breeds professionalism and patriotism. He added that patriotism is something we Filipinos still need to put more serious work into.
He concluded that “governance essentials’ application to a family-owned and controlled corporation is more demanding for members of the controlling family who may be working in such a corporation. The demands on non-family members who may be working there are the same as if they were working in some other corporation, not controlled by any single family.”
FINEX will soon launch the book “Ethics: White, Black or Gray?” featuring 50 interesting and thought-provoking articles from the government and private sector. And personal ethical behavior is a pillar of corporate governance.
 
Flor G. Tarriela is the Chairman of Philippine National Bank. She is former Undersecretary of Finance and the First Filipina Vice President of Citibank N.A. She is Go Negosyo 2018 Woman Intrapreneur Awardee. She is a FINEX Foundation Trustee and an Institute of Corporate Directors (ICD) Fellow.

SEC warns public vs three investment entities

THE COUNTRY’S corporate regulator has advised the public against three entities which have been soliciting investments without the necessary licenses.
In separate advisories posted to its website on Thursday, the Securities and Exchange Commission (SEC) classified the following groups as entities that may turn out to be “fraudulent investment schemes”: NutriWealth Multi-Purpose Cooperative, Bibli Online Store and KAPA Community Ministry International, Inc.
For NutriWealth, the SEC found that the cooperative has been offering investments under several names such as Nutriwealth Producer’s Cooperative, Nutriphysics Wellness Association, Inc., Nutriwealth Wellness Association, Inc., Nutriwealth Manufacturing Plant, Inc., Nutriwealth School of Wealth & Wellness Foundation, Inc., Minviluz Farmers and Fishermen Integrated Livelihood Association, Inc. and Value Chain Methodology (VCM).
NutriWealth was found to have conducted a Financial Literacy Caravan Israel, Japan, Hong Kong, Singapore, Korea, Italy, Canada, Australia, Taiwan, Thailand, the United States, the United Arab Emirates, Iraq, Kuwait and Qatar, targeting overseas Filipino workers in the area.
Here, the group offered investments dubbed as savings, where the public can deposit P1,000-P100,000 per month for a fixed term of five to 35 years. Investors are then promised an annual interest income of 12%.
NutriWealth also has VCM, which invites the public to invest in the Dragon Fruit Global Project, Poultry Farm Project, and Manufactured Herbal Coffee and Rice Production, which assures investors of as much as 10 times the amount of their investments for a fixed period of five to 20 years.
The commission warned the public that NutriWealth and the corporations and associations connected to it do not have licenses or permits to solicit investments from the public.
Meanwhile, Bibli Online Store was found to be inviting people to sign up in its affiliate’s website, mybiblios.com, after which they are instructed to purchase an activation code worth P800 and activation pin worth P295.
Investors can then get a compensation plan which allows them to earn from P100 for every person they recruit into the system, up to P75,000 worth of down payment for a brand new car of their own choice.
There is however no record of Bibli Online Store being registered as a corporation or partnership with the SEC. With this, it is further unauthorized to solicit investments from the public.
The SEC further advised people to stop investing in KAPA Community Ministry International, Inc., a non-stock corporation operating in Pangyan Glan and Alabel, Sarangani Province, Bislig City, Surigao del Sur, and General Santos City, South Cotabato.
The group representative by a certain Joel Apolinario was found to be inviting people to invest in their company every month for as long as they please, in exchange for a 30% interest income at the end of the month. The investment is then labeled as a Deed of Donation or Certificate of Membership.
The SEC said KAPA Community does not have a secondary license to solicit such investments.
Entities who act as salesmen, brokers, or agents of NutriWealth, Bibli Online, and KAPA Community may be prosecuted and held criminally liable as per Section 28 of the Securities Regulation Code. They may also be penalized with a maximum fine of P5,000,000 or imprisoned by up to 21 years, or both. — Arra B. Francia

Your Weekend Guide (October 5, 2018)

Guadalupe The Musical

JULIE Borromeo’s Performing Arts Foundations presents Guadalupe The Musical at the Meralco Theater until Oct. 14. With book and lyrics by Joel Trinidad and direction by Baby Barredo, the story is based on the apparition of the Virgin Mary to peasant Juan Diego in Mexico in 1531. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Mamma Mia! returns

BENNY Andersson and Bjorn Ulvaeus’ Mamma Mia!, a jukebox musical featuring ABBA songs, returns to Manila at the Theatre at Solaire until Oct. 20. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Carmen and Other Dances

BALLET Philippines presents Carmen and Other Dances on Oct. 5 to 7 at the Main Theater of the Cultural Center of the Philippines. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Dance workshops with G-Force

THE G-FORCE Project 2018 Sembreak Dance Workshop will be held at the G-Force Dance Center, Expansion Wing of Festival Mall on Oct. 6, 7, 13, 14, 20, and 21 for Batch 2. The workshops from all participating G-Force branches will culminate in a dance concert on Oct. 31 in The Theatre at Solaire. Enrollment is P8,500 for six sessions of one type of class (except the #WhiteShirtLove class), inclusive of performance at the concert. Returning students who present their previous G-Force Project ID and students taking two or more types of classes will receive discounts. For more information, download the G-Force Dance Center app.

Lungs

THE SANDBOX Collective and 9 Works Theatrical present Duncan Macmillan’s play Lungs, which has performances until Oct. 7 at the Power MAC Center Spotlight, Circuit Makati. With temperatures warming, sea levels rising, and the planet slowly dying, one couple considers the unthinkable — having a baby. Directed by Andrei Nikolai Pamintuan, it stars Sab Jose and Jake Cuenca. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

A Doll’s House Part 2

RED TURNIP Theater presents Lucas Hnath’s A Doll’s House Part 2, which picks up Henrik Ibsen’s story 15 years later. The domestic drama has performances until Oct. 7 at the Zobel de Ayala Recital Hall, BGC Arts Center in Taguig City. Directed by Cris Villonco, the show stars Menchu Lauchengco-Yulo as Nora and Carlitos Siguion-Reyna as Torvald. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Rapunzel: A Very Hairy Fairy Tale

REPERTORY’s Theater for Young Audiences and the City of Makati present Rapunzel: A Very Hairy Fairy Tale until Jan. 27 at Onstage Theatre in Greenbelt 1, Makati City. For tickets and schedules, contact TicketWorld (www.ticketworld.com.ph, 891-9999).

Fans’ petition brings tour of K-pop band Day6 to Manila

SOUTH KOREAN boy band Day6 will be performing in the Philippines on Oct. 6 when the Day6 1st World Tour Youth in Manila is staged at the Kia Theater in Cubao, Quezon City. The concert is the result of a viral petition initiated by fans on www.mymusictaste.com, an online service that brings together music fans to request their favorite artist’s concert. In response, Day6 and MyMusicTaste collaborated to make the fans’ dream come true. The five-member band debuted in 2015 and has produced songs like the debut single “Congratulations” to its new release “Shoot Me.” With two full studio albums under its belt, Day6 also made a successful debut in Japan with one of its songs becoming the theme song for the Japanese drama Repeat. Tickets to the Manila concert are available via TicketNet. Information about the tour and tickets can be found on http://mmt.fans/wJxZ and MyMusicTaste’s social media channels.