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Jan. hearings for FiT rates of biomass, river hydro

THE Energy Regulatory Commission (ERC) has moved to January next year the hearing for the proposed new rates scheme for run-of-river hydro-electric and biomass projects as sought by the National Renewable Energy Board (NREB).
Under the proposed extension, the board sought a rate of P5.8705 per kilowatt-hour (kWh) for small hydro projects and P6.5969 per kWh for biomass projects. The hearing and public consultation for the extended FiT scheme was previously set last month.
In its order, the ERC directed NREB to “put in plain words and explain, for the benefit of the consumers and other concerned parties, what the proposal is all about and the reasons and justifications being cited in support thereof.”
The ERC scheduled the hearing on Jan. 11, but told interested parties to submit their comments on the proposed rule-making on or before Jan. 7 both in soft and hard copies to the commission’s docket section. Public consultations have also been scheduled in Cebu City on Jan. 17, and in Davao City on Jan. 18.
The proposed rates are the degressed values from the July 27, 2012 feed-in tariff rates issued by the ERC, which set run-of-river hydropower at P5.90 per kWh and biomass at P6.63 per kWh. The implementation of the FiT system started on Jan. 1, 2015 and was to remain in effect for two years, or until December 2017.
The FiT scheme was meant to encourage investment in renewable energy by granting the preferential rates until the capacity installation target of 250 megawatts (MW) set by the Department of Energy (DoE) have been fully subscribed.
The rates, which are subject to degression as may be approved by the ERC, had been reduced to P5.8705 per kWh for run-of-river hydro and P6.5969 for biomass for projects that reached their commercial operate date within January to December 2017.
On Feb. 23, 2018, the DoE informed the ERC of its resolution extending the FiT for biomass and small hydro for another two years, or until Dec. 31, 2019, or upon successful commissioning of projects covering the remaining balance of their respective installation targets, whichever comes first.
Based on the letter from the DoE, the total capacities of both biomass and small hydro plants built and commissioned or to be commissioned within 2017 have neither exceeded nor reached the 250-MW installation targets. Small hydro had a balance of 215.40 MW while biomass had 111.39 MW remaining.
The DoE recommended that the FiT rate to be granted should be the rate at the time of the successful commissioning of the projects. The ERC initiated its own review and re-adjustment of the FiT rules as prompted by the missed installation targets.
On March 26, the ERC directed NREB to submit its proposal or recommendation on the review of existing feed-in tariff. On Aug. 22, the board endorsed the submissions of Philhydro Associations, Inc. and Biomass Renewable Energy Alliance on the rates, which are the ERC-approved rates of P5.8705 per kWh for small hydro and P6.5969 per kWh for biomass. — Victor V. Saulon

Tax relief scheme questioned in student fare discount bills

THE House Committee on Transportation’s Monday discussions on student fare discounts continued with resource persons calling the tax relief scheme for transport operators unworkable.
The technical working group, led by Committee chair Cesar V. Sarmiento of Catanduanes, tackled nine bills, proposing a 15 to 20% discount to students on regular fares on all modes of transportation.
“We have to thresh out the issues, in order for us to come up with a substituted and consolidated bill that will embody all the concerns we wish to address,” Mr. Sarmiento said in his opening statement.
He noted that the committee plans to approve the Substitute Bill on Wednesday. Its counterpart version, Senate Bill 1597, has been approved on third reading.
Among the contentious provisions discussed by the panel was the grant of a tax deduction to transportation utilities.
“We were informed that in the Committee Report, there was a particular provision pertaining to tax deductions, but when it was approved in the Senate, this particular provision was taken out,” he said.
House Bills 8318, 7269, and 8397 all provide for tax relief claimable by transportation utilities against the discounts granted, which the Department of Finance (DoF) proposed to have removed.
Doubts were raised over “the administrative feasibility of these tax deductions” by a Finance Department official, Director Juvy C. Danofrata. “Before you can claim any tax deduction or credit to the BIR (Bureau of Internal Revenue), you must be able to present evidence or proof that it’s really the students who were granted discounts.”
She noted that presenting proof, such as the issuance of an official receipt (OR), would be particularly difficult for jeepney drivers.
Ms. Danofrata also noted that government is expected to forego up to P2.4 billion in taxes from jeepneys fare discounts alone.
“Our range of assumptions puts the revenue loss at between P0.5 billion and P2.4 billion from jeepney fares,” Ms. Danofrata said.
Land Transportation Franchising and Regulatory Board (LTFRB) member and lawyer Aileen Lourdes A. Lizada proposed that the tax deduction be applied to public utility vehicles capable of issuing official receipts while others may be granted separate forms of assistance. — Charmaine A. Tadalan

Gov’t debt up 10.2% year-on-year at end of October

THE national government’s outstanding debt totaled P7.17 trillion at the end of October, up 10.24% from a year earlier amid an increase in the issuance of government securities, the Bureau of the Treasury (BTr) said.
End-October debt grew by 0.10% from the previous month.
The total is equivalent to 97.82% of the projected P7.33 trillion in outstanding debt at the end of 2018.
Of the debt stock at the end of October, 64.45% or P4.62 trillion was borrowed from domestic sources, up 9.59% from a year earlier. The total was up 0.71% from the previous month.
“For the month, the registered increase in domestic debt was due to the net issuance of government securities amounting to P32.74 billion. This was slightly offset by the appreciation of the peso that decreased the value of onshore dollar bonds by P0.29 billion,” the BTr said.
The peso strengthened to P53.527 to the dollar at the end of October, from P54.102 a month earlier.
Some 35.54% or P2.55 trillion of the total outstanding debt was owed to external lenders, up 11.45% from a year earlier, and down 0.98% from September.
“The decline in external debt level was principally due to the P27.34 billion impact of the stronger peso and net repayment on foreign obligations amounting to P0.33 billion. This was tempered by the net appreciation of third-currency denominated external debt amounting to P2.52 billion,” the BTr said.
The government borrows from domestic and foreign sources to fund its budget deficit, which for this year is capped at 3% of gross domestic product (GDP).
This year, the government has raised the target share of foreign debt to 35% from 20% in 2017 to take advantage of favorable interest rates.
The government expects the debt as a share of the economy to decline to 38.6% by 2022 after coming in at 42.6% in the first quarter. — Elijah Joseph C. Tubayan

Gordon proposes Congressional power to inspect bank accounts

SENATOR Richard J. Gordon on Monday said he intends to propose amendments to Republic Act No. 9160 or the Anti-Money Laundering Act (AMLA) that will allow the legislative branch, when conducting congressional investigations, to look into bank accounts through the Anti-Money Laundering Council (AMLC) without needing a court order.
“I intend to amend also the law on AMLA on congressional investigation. AMLA must give cooperation to the Blue Ribbon committee… That will be an amendment,” he said during a Senate hearing on the shipment of illegal drugs.
“When it comes to congressional investigation, like (the Senate) Blue Ribbon, they shouldn’t need to get a court order. What (the committee) needs to know should be released continuously and promptly,” he later told reporters after the hearing.
Under the AMLA, the AMLC is authorized to inquire into or examine bank deposits as long as there is a court order and probable cause has been established that the deposits involved were related to a money laundering offense.
Meanwhile, Republic Act No. 1405 or the bank secrecy law ensures the confidentiality of bank records and provides that it can only be looked into either with the consent of the depositor or with a court order.
Mr. Gordon’s plans to amend the law were prompted by the Senate Blue Ribbon’s investigation into the shipment of P11 billion worth illegal drugs that slipped past the Bureau of Customs (BoC) in August.
The Senate Blue Ribbon committee, which the senator chairs, has been requesting Banco De Oro (BDO) and the AMLC for information into the bank records of persons involved in the alleged smuggling of drugs.
In the previous hearing, Mr. Gordon expressed his frustration to the AMLC over the agency’s failure to respond to the requests of the Senate Blue Ribbon committee and the Philippine Drug Enforcement Agency (PDEA) for the bank records of persons linked to drug smuggling. The AMLC submitted its report to the Senate committee on Monday.
Mr. Gordon also noted during the hearing the practice among Chinese nationals of allegedly opening bank accounts using fake alien certificates of registration (ACRs). The ACR, issued by the Bureau of Immigration (BI), is among the requirements needed by foreigners when opening bank accounts in the Philippines.
“I am aware of a racket going on right now where Chinese folks are opening bank accounts, arranged by agents who have ACRs, alien certificates of registration, and the banks are cooperating to open accounts without knowing their customer,” he said.
AMLC Executive Director Mel Georgie B. Racela said the agency has issued an advisory on the matter.
“As a matter of fact, we have issued an advisory on those activities where account holders are being used and other Filipinos are used to open bank accounts. It’s more of borrowing the account,” Mr. Racela said.
Mr. Gordon said he also plans to open an inquiry into the issue as well. — Camille A. Aguinaldo

Senate passes resolution to extend availability of maintenance, capital funds

THE Senate on Monday approved a joint resolution extending the availability of the 2018 appropriations for the government’s maintenance and other operating expenses (MOOE) and capital outlays (CO) until the end of 2019.
Senate Joint Resolution No. 17 was filed by Senator Loren Legarda, chair of the Senate committee on finance, on Nov. 26, the same day its counterpart version in the House of Representatives was approved.
The joint resolution amends Section 61 of the Republic Act No. 10964 or the 2018 General Appropriations Act (GAA) to allow the validity of the MOOE and CO appropriations for another fiscal year or until Dec. 31, 2019.
The 2018 GAA limited the release of the MOOE and CO funds to within the year. If unspent, the funds will automatically be returned to the General Fund.
The joint resolution states that some of the 2018 MOOE and CO appropriations have not yet been released and obligated with only a month before the end of the year. It noted that this was not the case with the GAA from 2014 to 2017, which allowed for the said funds to be released and obligated for a two-year period.
Under the joint resolution, the unexpended appropriations may be used to fund relief and rehabilitation projects in several regions in Luzon and Mindanao, which were recently devastated by typhoons and flooding incidents.
It could also be used to fund priority projects as well as “the maintenance, construction and rehabilitation of schools, hospitals, roads, bridges, and other essential facilities of the national government,” the document added.
Congress has made the same plea through passing joint resolutions back in 2002 and 2013 seeking to extend the availability of the appropriations for another year. — Camille A. Aguinaldo

HMO premiums remain tax-free

Christmas is definitely here! As an early Christmas blessing to employees, the premium on group health insurance now reverts to being a non-taxable benefit and compensation.
By virtue of Revenue Memorandum Circular (RMC) No. 96-2018, the provision in the previously issued RMC No. 50-2018 stating that group health insurance premiums are taxable as compensation was deleted. Hence, we now apply status quo ante on the treatment of HMO premiums.
Prior to RMC No. 50-2018, the cost of premiums borne by the employer for the group insurance of their employees was exempt from fringe benefits tax and compensation tax. The exemption from fringe benefits tax was specifically provided under Revenue Regulations No. 3-98 and confirmed by Bureau of Internal Revenue (BIR) rulings. The compensation tax exemptions were held in various rulings issued by the BIR. In BIR Ruling DA-081-03, the BIR held that “where the employer decides to buy medical insurance for its employees, whether rank and file or supervisory, and their dependents, the insurance premiums paid by the employer shall be excluded from gross income and therefore not subject to withholding tax.” In BIR Ruling DA-139-05, the BIR reiterated the said ruling and held that “the premium payments made by the corporate employers for the benefit of its eligible employees (managerial and rank-and-file) are not subject to withholding tax on compensation nor to fringe benefits tax.”
The interpretation of both rulings was confirmed by the BIR during tax audits. In most cases, the audit findings include a difference in the amount of salaries and benefits claimed as expense vis-à-vis the amount reported in the alphalist and subjected to withholding tax. If the difference pertains to the amount of group health insurance premiums paid by the employer for its employees, the BIR examiners usually cancel the assessment for such item.
Many employees and other stakeholders were outraged by the inclusion of HMO premiums as taxable benefits. The inclusion resulted in additional tax burdens on many employees who were already receiving more than the P90,000 tax-exempt bonus.
Employees denounced the taxation of HMO premiums, saying that the new TRAIN Law — which was the basis of RMC No. 50-2018 — never stated that HMO premiums are taxable. They also argued that HMO premiums are benefits given for the convenience of employers, and that there was no constructive receipt of income on the part of employees.
Employers, on the other hand, also expressed their opposition to the taxation of HMO premiums on the basis that it was very difficult to implement on a per-employee basis. Employers would generally pay the premiums on group insurance. The changing composition of the group due to resignation, hiring, firing or promotion makes the identification of the specific premium per employee very difficult.
It is laudable that our tax authorities listened to the sentiments of many employee and employer groups. By deleting the controversial provision in the RMC imposing tax on health insurance premiums paid by employers for their employees, the BIR definitely made this a season of cheer and goodwill. With only several days before Christmas, this news is truly a great gift.
It is indeed a merrier Christmas with the HMO premium not being taxable. As we celebrate this much-awaited season, let us all be thankful and count our blessings. I wish you all a happy, merry, and stress-free holiday season. Merry Christmas to all!
 
Maricel P. Katigbak is a manager of the Tax Advisory and Compliance of P&A Grant Thornton. P&A Grant Thornton is one of the leading audit, tax, advisory, and outsourcing services firms in the Philippines.
Acel.Katigbak@ph.gt.com
+63(2) 988-2288.

Rol Peña: an unnecessary death but a death not in vain

A sweet gentleman, a gentle soul, a kind and humble man, a dedicated revolutionary. These are but a few of the beautiful words to describe Rol.
Dick Malay, a close friend of Rol (their friendship dating back to the 1960s), describes his friend in an all-round way:
“A competent geologist, board chairman of the Professional Regulation Commission (PRC) exams for geologists, poet and essayist, principled revolutionary, humblest, kindest person I ever knew, constant companion in revolutionary struggles here and abroad, navigator of the MV Karagatan and MV Andrea with NPA (New People’s Army) crew. Never saw him got angry or say a negative word about somebody”
(MV Karagatan and MV Andrea refer to the names of the ships that the Communist Party of the Philippines (CPP) used to smuggle arms and ammunition from China. Both missions failed.)
Dick’s tribute to Rol is all true. Yet, it still cannot fully capture the depth and many sides of Rol. Rol, for example, was not just a competent geologist. Even after death, he will remain an icon of the Philippine geology community; an idol, the rock star of the geologists of the younger generations.
Before he went underground to fight the Marcos dictatorship, Rol did field work as a geologist at the same time that he engaged in activism. And he was one of the best geologists. Hence, the Bureau of Mines was most happy as it welcomed Rol’s return to its fold in the early 1990s upon surfacing from underground revolutionary work.
Rol’s most distinctive contribution to Philippine geology was his authorship of the Lexicon of Philippine Stratigraphy (2008). Writes Rol’s professional colleague, Noe Caagusan:
“While the compilers of the Geology of the Philippines (1981) succeeded in accounting for every bibliographed report, they also unleashed a self-generative device that liberally established variant names of rock units, or even invalid nomenclatures that cluttered the stratigraphic column.
“Rolly sensed these superfluities, as he knew personally many of those who had written the geological reports where the Geology of the Philippines were culled. He was familiar with the parochial bias of many writers and their penchant for ‘updating’ formational definitions and appending a new name as well.”
The “misreadings” led Rol to authoring the Lexicon, which took more than a decade to publish. Caagusan describes the Lexicon as a “genie” that answers all the fundamental as well as rare questions about Philippine geology.
Another towering contribution of Rol was his being part of the study led by Prof. Alfredo Mahar Lagmay that defined Philippine plate boundaries and showed the implications on the delineation of the Philippine plate boundaries (2009). This has become a solid basis for the Philippine ownership of the West Philippine Sea.
My relationship with Rol was beyond being comrades. For different reasons, our paths crossed during our years in the underground movement. Our favorite meeting place was beside the San Juan creek near the University of the East Ramon Magsaysay (UERM) Hospital. And we talked for no official reason at all — we simply enjoyed the storytelling and tsismisan. My suspicion was that Rol’s true intention in meeting me was to hear stories and obtain information about his daughter Jade, who became an activist and was part of the Kalayaan collective (underground paper of the Kabataang Makabayan) which I supervised.
Later, Rol and I became part of the collective of an ad hoc propaganda unit. Its core was made up of the Ang Bayan (AB) senior staff, consisting of the late Tony Zumel, Dick’s sister Bobbie Malay, the late Ed Reyes, and Rol. The AB then was the leader in developing and propagating the Filipino language. The English edition of AB, never mind that it was a propaganda organ, outclassed the commercial newspapers in terms of writing style and more importantly, in exposing the crimes and abuses of the dictatorship.
Contrary to popular perception of senior cadres being grim and determined, this group, though serious in working to overthrow the dictatorship, had lots of fun. Occasionally, we had lunch at the estero in Chinatown. Bobbie likewise promised to organize a tour of the historical sites in old Manila. Everyone approved of it despite the security risk.
Our favorite meeting places were the penthouse of Joan Orendain on Mabini and the home of Virgie Moreno in Malate. Would have the military suspected revolutionaries to meet in the homes of people close to Zobel and Imelda?
Rol’s personality could not be reduced to being a revolutionary or a geologist. He was a friend to everyone. After the fall of Marcos, Rol and I reunited but in a totally different setting: Area 1.
By then I was married to my late wife Mae, and I joined her in the get-togethers of Area 1, the community where she grew up. Area 1 is a residential area on the University of the Philippines (UP) campus. The residents are made up of UP academics and personnel and their sons and daughters. The Area 1 group is not limited to original residents. It also includes friends like Rol, and it has a cast of diverse characters. This motley group is an association of revolutionaries, crackpots, scholars, dilettantes and bohemians. Rol was natural in this crowd.
Rol was a ladies’ man in a positive sense. Because of his many nice attributes particularly his goodness, attentiveness and wiseness, women were attracted to him. In this respect, he and his fellow Area Wanner Bong Daza were similar, though Bong was linked to glamor and fanfare.
Rol and Bong were good friends though one was anti-Marcos and the other was pro-Marcos. This illustrates our plural identities, suggesting that our political differences do not affect our friendships.
I wish Rol had written an autobiography. Knowing him, I know he would have written without biases, without rancor, without pagbubuhat ng bangko. He would have diminished his role in his narration. Nonetheless, his authentic story could have been an account of our contemporary history but viewed from the compound lens of his colorful, exciting and adventurous life.
Rol died in an accident, crossing the street as a motorcyclist bumped him. Not a glorious death compared to the martyrdom of many of his comrades. But his contribution to our people and country is invaluable, notwithstanding an unattained revolution. More, he touched the lives of different sorts of people, and he imparted life lessons to us. A hero of everyone, thus his death was not in vain.
 
Filomeno S. Sta. Ana III coordinates the Action for Economic Reforms.
www.aer.ph

UP out to build on spirited finals series-opener effort

By Michael Angelo S. Murillo
Senior Reporter
WHILE they fell short in seizing an early series lead in their best-of-three University Athletic Association of the Philippines Season 81 finals series at the weekend, the University of the Philippines Fighting Maroons are still bullish of their chances against the Ateneo Blue Eagles, seeing how they were able to hold their own vis-a-vis their highly favored opponents.
The Diliman-based Maroons bowed to the defending champions Eagles, 88-79, on Saturday in Game One of the UAAP Finals but not after making the latter sweat with a solid effort on both ends of the court.
It was something that UP coach Bo Perasol is high about and hopes to sustain heading into the must-win Game Two on Wednesday.
“For a first-timer in the finals I have to appreciate the kind of effort that my boys had shown. If there is one takeaway that we can get from this and think about, that is, it is possible,” said Mr. Perasol in the postgame press conference following Game One.
“It’s possible that we can beat Ateneo. Before the series everything was like you don’t have any match against them, you don’t have any experience going into the finals. But my players showed that with a little tweaking on defense, and probably a little rest, they could give Ateneo a run for its money,” he added.
In Game One, UP competed for much of the game against the top-seeded Eagles, not allowing the latter to soar as much as they wanted to.
But eventually Ateneo, in the UAAP finals for the third straight year, would bank on its experience down the stretch, led by its veterans, to create some separation and put away the game for the win.
Guard Jun Manzo led the Maroons with 19 points while Juan Gomez De Liano had 17.
Javi Gomez De Liano had 11 points while Bright Akhuetie, who momentarily left the game after hyperextending his left knee, finished with 10 points.
UP captain Paul Desiderio, meanwhile, struggled for five points on two-of-six from the field.
Despite things not going for them in the end, Mr. Perasol said all is not lost for them and vowed to come out better in the next game, making full use of the break they have and crafting the needed adjustments to be able to extend the series to a winner-take-all.
“We are still positive of our chances. We still need to do some preparation which we did not have in the last few days but I’m sure we’ll be better come Wednesday,” the UP coach said.
“The break we have is a chance for us to rest and good for guys that are hurt like Bright. We have to play better defense. There were times in this game that we had them already but just could not complete them. Against Ateneo you cannot do that,” Mr. Perasol added.
In the finals, the Maroons are trying to end a 32-year championship drought.

Dreaming wide awake

Twenty years ago, my partners and I opened EON in the midst of an Asian financial crisis. Not coming from a business background, we genuinely believed that if we just followed our vision, things would work out.
Little did we imagine the difficulties that the market was experiencing at that time — and it went on for about five years!
So what I did was to knock on doors. Literally.
In those days, you would never see me behind my desk because there’s no money to be made if I stayed in the office. So I went out and knocked on doors in order to aggressively expand our network. My faith had to be bigger than my fear. There were times when I’d promise a service then wonder how we could actually pull it off! And because we tried to keep a tight rein on costs, we had to do everything by ourselves — even if we only had three employees, including me.
WHERE CAUTIOUS MEETS AUDACIOUS
Growing a company constantly involves leadership decisions that are astute as they are daring. When EON was starting out, we strategically reinforced our modest assets with unrelenting hard work, conservation of resources, and finding the right people and organizations to partner with. Once we arrived at the critical mass of means and connections, we cautiously but deliberately expanded our services according to what we perceived to be the immediate and the imminent demands of the market.
Being the best in class requires an acute sensitivity to changes in the communication landscape and the audacity to anticipate our stakeholders’ needs.
Even today, we make it a habit to look at the trends that are happening in the market and put every effort to be ahead of that trend. We are keen observers of life and this is a skill that the company wants all our people to develop, so we regularly send them to training programs and events, both within and outside the country, because that’s where they will learn how to spot the latest movements and innovations in the industry.
Although I’ve relinquished most of my executive duties to the younger managers, I continue to read all the news monitoring reports that our teams produce every single day because I want to be kept updated on everything that’s going on — whether it’s news coming out of our clients or our competitors. At the same time, I make sure I’m up-to-date with what is happening in the industries where our clients are, and with relevant news about the country, the region, and even the entire planet because we also care about the changes in our natural environment.
From all of these data, you have to extract and distill valuable insights that will enable you to make informed and strategic business decisions. As they say, knowledge is power. And with that power comes the confidence and fearlessness to aspire for greater heights.
THE HEART OF LEADERSHIP
Whenever I am asked about my management style, I always refer to Robert K. Greenleaf’s concept of “servant leadership” which begins with the natural feeling that one wants to serve first, then makes a conscious choice and aspiration to lead. For a servant-leader, championing the greater good is the highest priority and the ultimate goal is to create a ripple effect that would encourage those who have been served to follow suit.
All of EON’s founders trace their roots back to government service, which is founded on service to the people. We brought that same philosophy with us when we launched the company two decades ago — that we are here to serve.
We are here to serve our clients through our professional expertise and by upholding sound business ethics. We are here to serve our employees by providing career opportunities in a nurturing environment where they can refine and enhance their abilities. We also serve the communities where we operate through the various advocacy programs we are involved in. And as a result of all these, we ultimately serve our country.
This has been our guiding principle from the onset of our operations and it has been quite successful in propelling us to where we are today.
This article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or the MAP.
 
Junie del Mundo is the chair of the MAP CEO Conference Committee and the chair and CEO of The EON Group, a fully-integrated communications agency.
map@map.org.ph
junie.delmundo@eon.com.ph
http://map.org.ph

PHL Azkals looking to do better in last chance to final

By Michael Angelo S. Murillo
Senior Reporter
HAVE its back against the wall in the 2018 AFF Suzuki Cup, the Philippine men’s national football team is looking to make things happen in the second leg of its semifinals with Vietnam later this week — its last chance to book a spot in the final of the biennial regional tournament.
Bowed to The Golden Stars, 2-1, in the first leg of their semifinal matchup on Sunday at the Panaad Park and Football Stadium in Bacolod City, the Philippine Azkals need to dig deep and win by at least 2-nil in the second leg on Thursday, Dec. 6, in Hanoi.
It is a situation that is very daunting at the onset considering how Vietnam has been solid in the tournament to date, having yet to drop a match.
But the Azkals are not being down on themselves, believing that they still have a chance to accomplish the job.
“Vietnam are the favorites before this game, and now they’re even bigger. I think we did okay today. We still have 90 minutes to go so we’ll see,” said Azkals coach Sven-Goran Eriksson following their defeat in the first leg, which was witnessed by 5,000-plus people at Panaad.
Vietnam did not waste much time to get on the scoreboard in the first leg with Nguyen Anh Duc giving the visiting side the early 1-0 lead in the 12th minute.
It tried to add on to it but the Philippine defense would hold its own for the rest of the opening half.
The Azkals made a last-ditch effort to level the count before the halftime break and was rewarded accordingly with Patrick Reichelt converting a goal off a pass from captain Phil Younghusband inside the three minutes added time in the first half of the contest.
Just like in the opening half, Vietnam would strike early as Phan Van Duc scored just three minutes into the restart.
The Azkals tried to get back the goal they gave but The Golden Stars would continue to frustrate them even as Vietnam had its chances to end up with a bigger lead but could not complete them.
Four minutes were added after regulation but no Philippine comeback was to come as it slumped to the defeat.
For Mr. Reichelt, while they came in prepared for the match, their on-court effort still left much to be desired, something they have to address if they are to move forward in the tournament.
“It was a disappointment. This is our third time in the Suzuki Cup semifinal, I don’t want to go out of the semifinal for the third time. I think we prepared well but the attitude was missing for us today,” said Mr. Reichelt during a fiery postgame interview.
The second leg of the semifinals between Vietnam and the Philippines will be played at the My Dinh Stadium in Hanoi.

Pit bulls and entrepreneurs

By Raju Mandhyan
I KNOW, I know! Many of you will be a bit taken aback by the comparison and then there will be some who will say, “Oh, yeah!” The chances are those that will be taken aback may be the ones who do not know your dogs and do not know your entrepreneurs. Then there may be some who will go into a state of shock at the mention of the word, pit bull. Well, for those of you who do get taken aback or, worse, go into a state of shock, you have my apologies and my compassion. You also have my invitation to come and stroll through these stories and allow me to help you discover a world of clarity, creativity, conscientiousness and a raging passion towards achievement, self-fulfillment and self-designed excellence. You will see and learn how many of the wonderful traits that make one species ferocious and wonderful make the other rugged and ragingly successful.
Between the pit bull and the entrepreneur there are certain nuances that are similar and different. Placing these two species together highlights the strengths of each and the possible areas of study and synergy for growth, for learning and becoming ferociously effective and brilliantly tenacious as an entrepreneur.
For those of you who went “Oh, yeah!” You know and love your dogs plus hold the pit bull in reverence, then this comparative study will make you smile and revalidate the beliefs you might have had about the secrets behind entrepreneurial success and excellence.
entrepreneur
There are several kinds of pit bulls and most all of them are a cross between the English Bull Dog and any one form of the Terrier. The bulldog’s lineage goes back to the ancient, huge and ferocious Mollosian of the Greek era which, like a bull, was a working dog. Over the years, this crossbreed between the bulldog and the terrier traveled to America in the 1800s and were carefully, further, crossbred to increase their speed, their playfulness and, thus, their intelligence. Today’s pit bull, and the one referred to in this piece, could be any one of the several breeds of the American Staffordshire Pit Bull or the American Pit Bull Terrier.
One of the most popular pit bulls was “Pete” from the movie and the series of Little Rascals. Other popular pit bulls were owned and loved by famous people like inventor Thomas Alba Edison, President Theodore Roosevelt of the USA and Helen Keller. Unfortunately and sadly, the pit bull has mistakenly acquired a notoriety that runs up chills and hysteria in many people. On the contrary, owners and lovers of pit bulls swear by the intelligence and gentleness of a pit bull. Statistically, they claim, the French Poodle is more vicious, vindictive and prone to attack human beings than a pit bull. The negative media hype has been created based on the looks of a pit bull alone. The strong, aloof and the independent look of the pit bull misleads and gives no clue to its intelligence, loyalty and loving nature.
The pit bull stands apart from most other breeds because of its keen sense of self-identity and self-pride. It rarely bothers to be moved or influenced by the presence of other smaller animals around him. Merlin, my late friend Tiny Defensor’s, nine-year-old, 140 pound pit bull, had never bitten anyone in its lifetime and it used to allow Tiny’s pet pussycats to swarm all over him all the time. “He cares a cat’s foot for the pussies!” used to exclaim Tiny proudly. Brownie, my friend Pinky Sandoval’s six-year-old, 120 pound pit bull constantly lets himself be bullied and barked at her half a dozen pomerians and chihuahuas. The pit bull’s normal reaction to frenzy and nastiness around him is to stand tall, stand apart, walk its walk and completely ignore the riff-raff that surrounds and nags it. It’s like he’s saying to them, “I know exactly who I am and I am totally at peace with who I am.”
Besides having a high sense of self-image and self-identity, the pit bull of all the known 140 known breeds of dogs in the world also has the rare ability to duplicate the human gesture knows as the “smile.” All other dogs express their joy and satisfaction by barking, jumping or waging their tail excitedly. The pit bull seems to have evolved and stepped ahead of the curve. The pit bull, to express its joy and satisfaction, will raise up and wrinkle its muzzle, display a toothy grin and make his eyes twinkle. This in his imagination is a smile, an expression of approval and happiness. To those that love their pit bulls and know their dogs this is amazing and to those who do not know their dogs this is eerie and terrifying. Yes, you can say pit bulls have imagination. This is a rare ability among a few, rare, individual people who can imagine, duplicate and morph existing facts with new ideas and other non-tangibles. It is for entrepreneurs a rare ability to connect facts from the past with the unseen, unheard and the un-experienced things from the present and create a picture of the future. A future that is possible and filled with productivity, progress and profits for all.
Pit bulls are also known to be really high on love and loyalty for their masters. There are numerous stories about the bond between dogs and man but of all the breeds of dogs, the stories of the pit bull stand out for strength, sturdiness and fierce integrity. Of all the stories about the pit bull’s image, identity, imagination and integrity, the ones that are terrifying are about their fierce tenaciousness and persistence. They say that when a pit bull, if deliberately abused and angered, gets mad and gets a hold of you then it’ll take an army to pry him apart. This is non-give-up-ness is a core trait of a pit-bull. This is a powerful characteristic and the ultimate brand image of the pit bull. There is a lesson to be learned in this for entrepreneurs. This trait of a pit bull, from a positive perspective, is a shining lesson in tenaciousness, persistence and hardiness for entrepreneurs.
 
Raju Mandhyan is an author, coach and speaker.
www.mandhyan.com

The company’s greatest asset

By Tony Samson
CEOs routinely declare in speeches to the troops that people are the company’s greatest assets. Such sentiment is not reflected in the financial statements. Vehicles, computers, and desks are booked as “assets” and depreciated accordingly. While employees rate higher than furniture and fixtures in items to save in a fire, they are still recorded only as cost.
So, when companies are required to cut costs, headcount reduction is at the top of the list, above product launch events and promotional giveaways.
Total compensation costs saved, including benefits and bonuses (with the modifier “fat”) is easily calculated when jobs are eliminated. The possible deterioration of service is not quantified. In investor statements, it is the positions removed that are highlighted, not the ones holding them. While organizational boxes do not have to pay tuition fees and rent, their occupants are another matter. Anyway, boxes have no feelings. Neither do they have any emotional attachments to their calling cards which now only serve as bookmarkers to note the page where they stopped reading to answer a text message.
But what if accountants treat people as assets, even if not the company’s greatest?
An individual can then be depreciated though his useful corporate life. Is the asset carried until retirement age? Hardly. Maybe ten years before that time, attractive exit packages are dangled to a targeted group. Realistically, if depreciation is to be applied, it cannot be longer than the one set for motor vehicles. Obsolescence in terms of technical skills and marketing connections can be factored in.
What is the book value then of a person?
The practice of marking to market relies on the current prices of publicly listed stocks or regularly traded securities. Can the executive be similarly valued? Some method can be devised internally in terms of contribution to revenue or attendance of small meetings, with higher points for those he presides over? When the value an executive adds is diminished, can he be marked down to market?
As in other commodities, seasonal price surges can occur, as in flowers on Valentine’s Day or function room bookings for Christmas parties. Lawyers and PR men may see their value shoot up in times of crisis, like investigations of internal fraud or tax evasion cases. Maybe, HR heads become more valuable in CBA negotiations and pickets over labor-only contracting issues.
As for more objective pricing of human assets, one reliable indicator is the “poaching premium” dangled by headhunters. Someone being recruited by competition at triple her talent fee at negotiation time clearly must have her stock reviewed. (Let her go to the other network which can then be burdened with the new fees?) So, those in entertainment and media have a readier barometer of pricing driven by competition, ratings, and advertising loads. Those poached from one noontime show to another also drive down the market value of incumbents booted out by a “new format.”
But is it as simple to price corporate talents where supply can outstrip demand, even for rocket scientists working on risk assessment, stock price charts and designing derivatives? Some CEOs believe that executives who move frequently to ever higher positions in different companies are “highly marketable” and therefore targeted for retention. The corollary of this principle is that those honored at service awards night must be “unmarketable.”
If an executive has stayed twenty years in one company, is this not a sign that nobody else wants him? Did you say company loyalty?
Thus, the marked-to-market valuation in human resources will conclude that old fogies with their war stories of the good old days when the company had 70% market share need to be pushed out the door. (It’s called early retirement.) In this scheme of things, serving the company for a long time is no longer an indicator of wisdom and experience. It’s simply a product that has stayed on the shelf too long. Shouldn’t this asset be marked down and listed as disposable?
Even if people are a company’s most important assets, they are still the easiest to dispose of. It’s as quick as changing the lock on the office door over the weekend, with the personal effects just outside in a box.
 
A.R. Samson is chairman and CEO, TOUCH xda.
ar.samson@yahoo.com

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