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Evergreen Tom Brady not the retiring type

MINNEAPOLIS — Tom Brady said Thursday he has no plans to retire anytime soon as he prepares to lead the New England Patriots into his eighth Super Bowl against the Philadelphia Eagles this weekend.

The 40-year-old quarterback could win an extraordinary sixth Super Bowl ring in Minneapolis on Sunday at an age when most NFL players are already comfortably settling into a life beyond the sport.

Brady, however, who attributes his remarkable longevity to his strict diet and fitness regime, told reporters he would like to play on until his mid-40s after another dazzling season in which he amassed a league-leading 4,577 yards.

The California-born signal-caller was responding to comments by Patriots President Jonathan Kraft earlier Thursday in which he said Brady had earned the right to choose his own retirement date.

But Brady was having none of it.

“Why does everyone want me to retire so bad?,” he said.

“I’m having fun. The team’s doing good. I’m really enjoying it.

“I obviously really enjoy the experience of playing in this (Super Bowl) game.

“It’s been a dream come true for me, many times over, and you know it takes a lot of hard work to get here.

“We’re working hard this week, we had a good practice today. I’m not thinking about retirement — I’m thinking about the Super Bowl and trying to win the most important game of the year.”

RECORDS AT RISK?
Brady will already become the oldest non-kicker to play in the Super Bowl when he suits up at the US Bank Stadium on Sunday.

And at five months past his 40th birthday, he will comfortably eclipse his great rival Peyton Manning’s record for being the oldest quarterback to win the championship if he bags another Super Bowl against the Eagles.

Manning was 39 when he led the Denver Broncos to a fairy-tale win over the Carolina Panthers in Super Bowl 50 two years ago.

If Brady plays into his mid-40s, he could rival records set by Steve DeBerg, who became the oldest quarterback to start an NFL game when he led the Atlanta Falcons against the New York Jets in 1998.

DeBerg, a back-up quarterback, also became the oldest player ever included on a Super Bowl roster, at the age of 45 years and 12 days, when the Falcons appeared in Super Bowl 33 in 1999.

“I’ve always wanted to play until my mid-40s, so we’ll see,” Brady said of breaking DeBerg’s records.

“Football is such a physical sport. Every game could be your last game. It’s the reality of sport. I’d love to plan for those things. I try to work hard at the things I need to to allow my body to feel good week after week, year after year.

“I’ve got a good routine that’s really worked for me over the past 12 years. So as long as I feel like I’m willing to make the commitment to doing those things, then I feel like my body will allow me to be able to do that.”

Brady’s first Super Bowl title came way back in 2002 in a 20-17 win over the St. Louis Rams.

Since then, he said, he has learned to prepare more efficiently for the championship game. — AFP

What to see this week

4 films to see on the week of February 2-9, 2018

A Better Tomorrow 2018


THIS IS THE fourth film in an a series that started with the original John Woo movie about a former drug smuggler who attempts to reform his life and reunite with his policeman brother. Directed by Sheng Ding, it stars Wang Kai, Tianyu Ma, and Darren Wang. Screen Daily’s John Berra writes, “For all of its individual qualities, A Better Tomorrow 2018 is destined to wind up as a footnote to a stone cold classic, but this is nonetheless solid genre fare that stands on its own two feet, with both guns blazing.”

MTRCB Rating: PG

Changing Partners


BASED on the PETA musical by Vincent de Jesus, the Cinema One Originals 2017 entry tells the romantic story of Cris and Alex a couple whose age difference is 15 years who are played by four different actors — Agot Isidro, Jojit Lorenzo, Anna Luna, and Sandino Martin. The story explores the nature of fidelity and issues faced by partners. Directed by Dan Villegas.

MTRCB Rating: R-13

Winchester


FIFTY miles outside of San Francisco stands the world’s most haunted house — seven stories tall with 500 hundred rooms — built by heiress Sarah Winchester. She did not build it for the living but as an asylum for vengeful souls. Directed by Michael and Peter Spierig, the film stars Helen Mirren, Jason Clark, and Sarah Snook.

MTRCB Rating: R-13

Paddington 2


AS Paddington scouts for a present to give his Aunt Lucy for her 100th birthday, he finds a unique pop-up book in Mr. Gruber’s antique shop and goes through a series of odd jobs to afford it. However, one day, the book is stolen. Paddington and the Brown family work together to catch the thief. Directed by Paul King, the film stars Hugh Grant, Ben Miller, Ben Whishaw, Julie Walters, Sally Hawkins, Hugh Bonneville, and Brendan Gleeson. The New Yorker’s Richard Brody remarks, “It has one out-loud laugh, plenty of sincere cleverness, vast technical ingenuity, a warm heart, lively performances and enough gyroscopic camera moves to make Max Ophüls (film director) jealous.”

MTRCB Rating: PG

Phoenix refreshes design for 100 gas stations

Phoenix Petroleum Philippines, Inc. has adopted a new design for its fueling stations nationwide just as the company folds in its new acquisitions and marks its entry into new businesses.

“The new look of our stations is just the start of our improved products and services to our customers as we set the tone for the future. Our goal is to exceed customer expectations and engage with the community we are part of through our improved stations,” Henry Albert R. Fadullon, Phoenix Petroleum chief operating officer, was quoted as saying in a statement.

Phoenix Petroleum has recently expanded to the convenience retailing business with the acquisition of convenience store brand Family Mart. It is also set to enter the bitumen business through a joint venture with Tipco Asphalt Public Co. Ltd. and PhilAsphalt (Dev’t) Corp.

“The new design features a clean, modern, and sleek style, to reflect the company’s aspiration of becoming the next generation fuel company catering to the needs of the next generation drivers,” Phoenix Petroleum said.

The listed company owned by Davao-based businessman Dennis A. Uy said 100 out of its 500 stations nationwide already carry the new design.

“The newest Phoenix station boasts of a spacious land area for easy movement, air-conditioned restrooms, and a strategic location — providing convenient access to motorists traveling on the South Luzon Expressway,” it said.

Phoenix Petroleum is engaged in the trading and marketing of refined petroleum products, including LPG and lubricants, operation of oil depots and storage facilities, hauling and into-plane services. It serves major accounts in various industries such as power, shipping, logistics, manufacturing, construction and transportation.

In January, the Philippine Competition Commission approved Phoenix Petroleum’s acquisition of shares in Philippine Family Mart CVS, Inc. The company previously said the convenience store complements its retail fuel business. The deal marks its entry into the fast-growing retail market. Family Mart has 67 stores in Luzon.

Also last month, the company entered into a joint venture with Thailand-based asphalt maker Tipco Asphalt and a local company to market and distribute bitumen and bitumen-related products in the country.

In December last year, Phoenix Petroleum disclosed placing an order for 650,000 cylinders of liquefied petroleum gas (LPG) in line with its plan to penetrate deeper into the Luzon market, where it said 80% of the demand for the product comes from.

The move comes as the company integrates the LPG business of Petronas Energy Philippines, Inc., a company it bought last year. — Victor V. Saulon

Steel lobby warns against use of obsolete Chinese furnaces

THE Association of Southeast Asian Nations Iron and Steel Council (AISC) wants to bar the entry of imported old induction furnaces from China, which they consider to be an environmental hazard, apart from their energy-efficiency shortcomings.

In a statement, AISC said that the use of obsolete induction furnaces also endangers workers and communities.

“There is generally no process of removing the harmful elements in the liquid steel thus resulting in inconsistent quality of steel products produced,” it said.

“These steel products are used in the construction of buildings and infrastructure,” posing  safety risk to those works.

China has banned the use of the induction furnaces as early as January 2017 and sought to halt their use by June of that year.

AISC said that as of the June deadline China had around 600 induction furnace users.

“The combined capacity of these induction furnace producers was around 120 million tons but their total output in 2016 was in the range of 30 to 50 million tons,” it said.

AISC said that Indonesia, Malaysia, the Philippines and Thailand are likely destinations for the obsolete equipment.

“ASEAN could become a dumping ground,” AISC said. — Anna Gabriela A. Mogato

Main index declines amid valuation concerns

By Arra B. Francia, Reporter

LOCAL EQUITIES extended losses on Thursday, as concerns on the hefty valuations of stocks among investors prompted another sell-off.

The main index moved down 0.28% or 25.29 points to close at 8,738.72, pulling back after moving past the 8,800 mark intraday.

The broader all-shares index, meanwhile, posted a gain of 0.11% or 6.09 points to finish at 5,130.92.

“After two successive days of massive selldowns, the Philippine market still finished on a sour note to start the month of February, as earnings season will soon be starting,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile phone message.

Timson Securities, Inc. equity trader Jervin S. de Celis noted that investors have been concerned about the prices of stocks.

“Our index fell on the third day as elevated valuations of our equities become a main concern for investors especially foreign fund managers…The PSEi is also trading at a hefty valuation of 22x PE (price-to-earnings) ratio last Friday that’s why the sell-off was a bit expected but too exaggerated since the main catalyst came from the western markets,” Mr. De Celis said via text.

Overseas, markets started to recover. The Dow Jones Industrial Average gained 0.28% or 72.50 points to 26,149.39. The Nasdaq Composite index added 0.12% or 9 points to 7,411.48, while the S&P 500 index was flat at 2,823.81, moving up by a mere 0.05% or 1.38 points.

Most local sector counters finished in negative territory, save for property, which managed to rise 0.45% or 17.98 points to 3,957.54.

On the other hand, the mining and oil sub-index dropped 0.56% or 67.60 points to 11,870.35, followed by holding firms which gave up 0.45% or 40.91 points to 8,916.90. Services lost 0.26% or 4.51 points to 1,706.22; financials dipped 0.18% or 4.02 points to 2,219.96; while industrials closed 0.17% or 20.01 points lower to 11,770.55.

Trading thinned yesterday, as a total of 2.75 billion issues switched hands valued at P7.34 billion, lower than the P11.53-billion value turnover on Wednesday.

Despite the general decline in the market, advancing stocks outpaced those that lost, 113 to 88, while 54 names were flat.

Foreign investors continued their selling streak, unloading a net P1.36 billion worth of stocks on Thursday, although lower than the P2.33 billion recorded the day before.

Sy-led firms SM Prime Holdings, Inc. and SM Investments Corp. were among the most actively traded stocks of the day, both losing 1.08% to P36.50 each and 0.10% to P1,024 each, respectively, after announcing that the SM group will no longer be acquiring bakeshop chain Goldilocks Bakeshop, Inc.

Mr. De Celis noted that the index may consolidate within the 8,600 to 8,900 range until the earnings season takes place.

Democrats gain momentum in money race

WASHINGTON/CHICAGO — Democrats raised more money than Republicans in 2017 in some key midterm congressional districts, even as the Republican National Committee (RNC) leveraged the power of the presidency to collect twice as much as its Democratic counterpart.

The minority party in Congress is showing early financial strength in competitive districts where incumbents aren’t seeking reelection, a Bloomberg analysis of Federal Election Commission (FEC) filings shows. In nine of the races where candidates had completed filings by late Wednesday, Democrats have collectively raised $16.4 million — more than six times as much as their GOP opponents — and have the best-funded candidate in all but two of those races.

The battle for dollars revealed by the latest disclosures, including many filed late Wednesday, offers early clues into whether the Republicans will keep control of both the House and Senate or whether Democrats can stage a comeback after their devastating 2016 losses. Democrats need a net gain of 24 seats to take the House and two to secure a majority in the Senate, an outcome well within the bounds of historical precedent in midterm elections.

A wave of Republican retirements in the House has opened opportunities for Democratic candidates. Incumbents generally start each election cycle with money in the bank, but where there’s no incumbent, all candidates start even. Because some incumbents didn’t announce their plans not to seek reelection until the fourth quarter, Republicans hoping to succeed them may have to work harder to raise cash.

In the California districts held by GOP Representatives Ed Royce and Darrel Issa, there are no Republicans on the ballot. Both seats are viewed as leaning Democratic by the Cook Political Report. A Democrat, Rebecca Sherrill, took in $1.2 million in the New Jersey district of retiring Representative Rodney Frelinghuysen, making her the top fundraiser. The only Republican in the race, which is rated a toss-up, raised $8,659.

Here are some takeaways from year-end reports filed by late Wednesday:

TRUMP EFFECT HELPS REPUBLICAN COMMITTEE RAISE $132 MILLION
The Republican National Committee said it raised $132.5 million during the first year of Donald J. Trump’s presidency, a record in a non-election year. The Democratic National Committee reported $65.1 million.

As of Dec. 31, the RNC said it had $38.8 million in the bank. That’s almost six times more than the $6.5 million reported by the DNC. The RNC also reported zero debt, while the DNC owes $6.1 million.

Though the $5.4 million a month the DNC raised on average in 2017 lags far behind what the GOP collected, it’s not far off the norm for a political party in an odd-numbered year. In 2009, after the election of President Barack Obama, who shattered all fundraising records in capturing the White House, the DNC raised an average of $6.7 million a month. The RNC and Mr. Trump have broken new ground in raising money immediately after a presidential election.

Some of the RNC’s fundraising strength came from the Rolodex and celebrity status of billionaire casino mogul Steve Wynn, who was the party’s top fundraiser until he resigned Saturday after reports of sexual misconduct. Chicago Cubs co-owner Todd Ricketts was named Wednesday as his replacement.

DEMOCRATIC FUNDRAISING FOCUSED ON CONGRESS SHOWS STRENGTH
While bigger money for super political action committees, parties and campaigns normally rolls in during election years, there are early signals that Democrats have some strength going into 2018.

SMP, formerly known as the Senate Majority PAC, a super political action committee aligned with Senate Democrats, reported raising $20.7 million in 2017 and had $13.7 on hand at the end of the year. That compares to $13.6 million and $6.3 million for the Senate Leadership Fund, a super-PAC affiliated with Senate Majority Leader Mitch McConnell, a Kentucky Republican.

The Democratic Congressional Campaign Committee, which backs the party’s House candidates, out-raised its Republican counterpart for the eighth straight month in December, $9.3 million to $4 million. And while the National Republican Congressional Committee broke its record for fundraising in an off-year and had more money in the bank — $43.6 million to the Democratic committee’s $38.9 million — those numbers don’t tell the whole story.

Under federal election law, party committees can accept contributions of as much as $101,700 from big donors, but there’s a catch. That money, for the parties’ legal and headquarters accounts, can’t be used to influence federal elections. The NRCC has raised more than $20 million in money it can’t use to influence elections, but that still counts as money in the bank on its FEC filings. The DCCC has raised less than $5 million for those accounts, meaning more of its money can be spent trying to actually win seats in November.

The DCCC ended the year with a huge edge in raising money from small-dollar donors, those who give $200 or less, often seen as a barometer of grassroots enthusiasm. Those donors added $22.2 million to the DCCC’s coffers in 2017, compared to just $9.8 million for the NRCC. The $38.9 million the DCCC had on Dec. 31 was the most ever for the end of the year.

TRUMP COMMITTEES ATTRACT SMALL-DOLLAR DONORS
Mr. Trump entered 2018 with about $32.2 million in his reelection campaign and two affiliated committees, the federal election filings show. Mr. Trump’s campaign committee and two joint fundraising committees with the RNC, Trump Victory and Trump Make America Great Again Committee, together raised more than $52 million in 2017. Blackstone Group LP Chief Executive Officer Stephen Schwarzman was among those who contributed to Trump Victory, sending $344,400 in December to the committee.

Mr. Trump’s reelection committee has had success with online fundraising and small-dollar donors. That’s been fueled in part by his merchandising.

Since taking office, he’s held campaign-style rallies in Florida, Tennessee, Kentucky, Pennsylvania, Iowa, Ohio, West Virginia and other states. The rallies double as reelection fundraising events because they bolster sales of Mr. Trump’s campaign merchandise, like the iconic red “Make America Great Again” caps.

It’s unusual for a sitting president to raise money for reelection as aggressively as Mr. Trump has during his first year in office. Mr. Obama had been in office more than two years before he headlined his first reelection fundraiser. President George W. Bush raised a total of $268,423 in his first two years in office, FEC records show. — Bloomberg

Cavs played ugly ball

It isn’t often that a team finds itself prevailing even after shooting much, much worse on less shots than — and being significantly outrebounded by — its opponent. Yet, that’s exactly what the Cavaliers got yesterday despite ending up with seven less caroms and a 35% clip off 80 field goal attempts. The reason: They were fouled five more times and given 13 more free throws, posting respective aggregates of 25 and 38 — yes, 38 — en route to a single-basket victory.

Considering how much ugly ball prevailed throughout the match, it’s fitting that the Cavaliers’ last three points came from the charity stripe. To argue that they bled for points would be an understatement; in the fourth quarter alone, they had three field-goal droughts that lasted 4:14, 3:42, and the final 1:21 of the game clock. Not quite the output expected from a supposed offensive juggernaut starring Most Valuable Player candidate LeBron James.

Yet, if there’s anything the relief etched in the top vote getter for the 2018 All-Star Game underscored, it’s that the Cavaliers will take wins any which way they can. James has been nothing if not practical of late, viewing the season an outing at a time in acknowledgment as much of the grind all teams face as of their unique travails. They’re still searching for identity this late in their 2017-2018 campaign, and they would be foolhardy to look ahead to the playoffs when they’re either going backward or running in place.

Parenthetically, even James himself deserves some blame for the Cavaliers’ predicament. He did hit the ground running, putting up numbers not seen from him since the turn of the decade. In recent memory, however, he seems to have, well, slowed down, perhaps worn down by the intrigues and burdened by the load he appears to have little help carrying. To be sure, he’s used to the adversity; whether or not it will again serve as fuel as in years past remains to be seen. For now, he’ll take the triumph in the hope that simple pleasures will ultimately lead to success.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is the Senior Vice-President and General Manager of Basic Energy Corp.

Mayor tells business sector: Davao City open to 3rd party auditor

Davao City logo

MAYOR SARA Duterte-Carpio has urged Davao City’s business sector to provide a third-party auditor to look into the local government’s finances in line with transparency initiatives. Speaking before business leaders during the installation of the Davao City Chamber of Commerce and Industry, Inc.’s new set of officers last Friday, Jan. 26, Ms. Carpio said the city’s books are open for review by the private sector to help ensure that resources are being used judiciously. The mayor noted that as of Jan. 23, the City Treasurer’s Office has collected P1.2 billion from business renewal fees, a 36% increase from last year. “I thank the business community for diligently paying your local taxes. We assure you that your city government will allocate these funds to more meaningful projects and programs for the development of the city,” Ms. Carpio said. She also reported that the city ended 2017 with more than 40,000 registered businesses, with a total investment value of P270 billion. — Maya M. Padillo

Toward a sustainable future

The Financial Executives Institute of the Philippines (FINEX) kicked off its 50th anniversary celebration with a Golden Jubilee gala night last Jan. 15 at the Makati Shangri-La Hotel.

It was an evening of music and memories for members of the country’s premier organization of finance professionals. Past presidents of FINEX were honored, some of them posthumously as they had gone to the great beyond.

FINEX’s surviving founder Jimmy Ladao delivered a testimonial message, along with former Prime Minister Cesar Virata and incumbent Securities and Exchange Commission Chair Tess Herbosa.

Good governance was the recurring theme of the two keynote speakers.

US Ambassador to the Philippines Sung Kim praised FINEX’s governance advocacy, while Metro Pacific Group CEO Manny Pangilinan correlated corporate governance to best practices in basketball, recounting his successful bid for the co-hosting of the 2023 FIBA World Cup by the Philippines, Japan, and Indonesia.

“Pillars of Good Governance,” a textbook written by former Communications Secretary Sonny Coloma, was launched by the 2017 FINEX Board headed by outgoing president Dick Baladad. Past president Mel Salazar has recommended the book’s dissemination to business professors and students nationwide to propagate a deeper appreciation of financial executives’ role in enterprise management.

Last Jan. 18, the 2018 FINEX Board led by President Marivic Espano had their induction rites at the Fairmont Makati Hotel with the theme, “Transform for a Sustainable Future. Today.”

Rising taipan Dennis Uy was the guest speaker during the luncheon event. He traced his journey as a Davao-based entrepreneur who started with Phoenix Petroleum and built a diversified conglomerate that now includes 2GO Group, Chelsea Logistics,  Enderun College, and Lapu-Lapu Leisure Resort Mactan, as well as the local franchises of Japan’s  Family Mart and South Korea’s Kia Motors.

Plans are afoot to establish the FINEX Academy as a CFO training center consolidating all professional development seminars and education-oriented activities under its ambit. This learning institute is one of the five signature projects proposed by the Vision 2018 Committee chaired by past president Cora dela Paz.

To ensure the sustainability of the flagship project, a capital fund campaign will be spearheaded by the Order of the Golden Phoenix, a group of benefactors formed during the 40th anniversary of FINEX in 2008.

If it comes to fruition, the FINEX Academy  would be a fitting legacy of this year’s board to the future generations of finance executives.

J. Albert Gamboa is Chief Financial Officer of the Asian Center for Legal Excellence and serves as Co-Chairman of the FINEX Media Affairs Committee.

Motorbike crash casualty Gerard Butler on a year of pain

LOS ANGELES — He has cultivated an image as a tough guy over two decades of starring in action thrillers but no role could have prepared Gerard Butler for his excruciating motorbike crash.

The 48-year-old Scot — best known as hard-as-nails Spartan leader Leonidas in 2006 action fantasy 300 — was riding in Los Angeles in October when his motorbike and a car collided, sending him somersaulting into the air.

“I fractured five bones in my right foot and had a microfracture in each foot and a pinched nerve and a bruised bone, and injured my ankle and both knees,” he tells AFP.

The damage couldn’t have come at a worse time, as he was in the middle of publicizing climate thriller Geostorm while also shooting scenes for heist movie Den of Thieves and military actioner Hunter Killer.

“I was in seven countries over five weeks and I could barely walk, and it was maybe the toughest period of my life — going on talk shows, pretending you’re good,” he recalls with a grimace.

In terms of aches and scrapes, last year was a doozy, the actor told AFP in a recent interview in Beverly Hills to promote his role as an elite cop in Den of Thieves.

“I put on 25 pounds (11 kilograms) — at one point I was 30 pounds heavier — just to play that character and in the final day of shooting I hurt my knee during an action scene,” he said.

WASHBOARD ABS
“Unfortunately I’d already committed to starring in another movie eight days later — Keepers, in Scotland — which, when I arrived, I realized was all on the side of a mountain — six weeks walking up and down a mountain.

“By the time I’d finished that both knees were screwed. And then I had a motorbike accident where I landed on my knees, so it’s been an interesting year of challenges.”

Born in Paisley, on the outskirts of Glasgow, Butler broke Hollywood with his legendary rippling washboard abs — some critics unkindly and inaccurately suggested they were digitally enhanced — as marauding King Leonidas in Zack Snyder’s 300.

His more than two dozen roles since have included a gangster in Guy Ritchie’s RocknRolla (2009), a vigilante killer in Law Abiding Citizen (2009) and an alcoholic drug-abusing biker in Machine Gun Preacher (2011).

He has also shown his soft side in romantic comedies like 2007’s P.S. I Love You, The Ugly Truth in 2009 and opposite Jennifer Anniston in The Bounty Hunter (2010).

He can be still periodically be found saving the president or the planet from befalling calamity of varying degrees of ludicrousness in big, brainless actioners like Olympus Has Fallen and its sequels.

His latest project, Christian Gudegast’s Den of Thieves, opened two weeks ago to lukewarm reviews but has matched its production budget with a respectable $30-million box office.

His 48th movie, it follows the intersecting lives of the major crimes unit of the Los Angeles Sheriff’s Department — known as the “Regulators” — and the “Outlaws,” an elite band of robbers.

ALPHA MALE
With an ensemble cast that includes hip hop star Curtis “50 Cent” Jackson, rapper Ice Cube’s son O’Shea Jackson, Jr., and a particularly buff looking Pablo Schreiber (The Wire, Lords of Dogtown), it may be the first movie in which Butler has had serious competition for the position of Alpha Male.

“I haven’t seen that amount of testosterone and kind of alpha, predator, apex energy since 300 — and even then not as much among the lead characters,” he joked.

He admitted there was a “healthy sizing each other up” on set but added that it was nice to work with “a bunch of good dudes with good hearts.”

No movie is above scrutiny from the Hollywood press when it comes to gender and racial diversity, and not even a self-consciously macho heist movie gets a pass.

Butler and his co-stars were asked at a recent press conference why there weren’t more women in lead roles in Den of Thieves and batted the question politely into the long grass.

AFP asked Butler afterwards if he thought the pressure for every movie to tick diversity boxes was unrealistic and he paused as he measured the tone of his response.

“I think sometimes that pressure is fair. It’s a movement I can get behind and I understand it,” he ventured.

“But then when people try and apply it to everything, including a movie about a bunch of male undercover cops and a gang of ex-military and say, ‘Shouldn’t you have some women in there?’ — then no.

“You pay lip service to the question and you smile and move on.” — AFP

What’s the value of hiring and managing gray workers?

Because of the difficulties in hiring and managing millennials, we’re now looking into the possibility of hiring retired people to do office jobs or back-office tasks for some clerical work, and to some extent, perform managerial assignments. Can you please help us explore the pros and cons of this plan? — Second Chance.

Many years back, Fortune magazine did a cover story on Warren Buffett (b. 1930) of Omaha, Nebraska. The magazine tells the amazing tale of one of America’s most successful billionaires. He has been an enormous success after investing in all kinds of companies in the process of building his conglomerate — Berkshire Hathaway. He has been conferred the nickname “Oracle of Omaha.”

He looks for strong companies that are well-positioned in the market. Then he seeks to take over these companies. Then leaves the management of these acquired companies to incumbent officials, many of whom are old, but not replaced, including Rose Blumkin (1893-1993), who at age 94 was reportedly working seven days a week in the carpet department of Furniture Mart.

Buffett simply does not regard age as having any bearing on how able a manager is. He has worked several decades with an unusually large number of older management executives and still treasures their abilities. Buffett says: “Good managers are so scarce I can’t afford the luxury of letting them go just because they added a year to their age.”

The call center industry is known to have experimented with hiring and managing older workers as a partial solution to their high turnover. That could be your model for evaluating whether retired people are suitable to your own industry and make adjustments from there. But let me come out with my own list of advantages in hiring people in their late 50s and beyond. Here are some of them:

One, gray workers have depth from their work experience. They don’t commit a lot of mistakes, unlike young workers who can be easily distracted by many things, including the infighting caused in part by office romance, office politics, and so on. Mature workers don’t need a lot of training.

Two, gray workers prefer stability and focused on their current tasks. They want to prove themselves once again and remain loyal to their employer. After all, how can you betray someone who gives you another chance at employment? They are not expected to job-hop since their interest is to maintain goodwill with everyone and perpetuate employment as long their mental and physical ability allows them to do their jobs.

Three, gray workers have excellent and tested management skills. They give honest opinions on work situations, but just the same, they tend to follow established policies, even if they don’t agree with them. Many of them were trained in actual face-to-face communication with people rather than the current system that offers impersonal interaction (like e-mail, SMS, etc.) that offers convenience but not any insight into hearts and minds.

Four, gray workers have an excellent network of friends in high places. This is possible if these mature workers have worked for some time in many industries. Connections alone will help them understand where business opportunities can come from. With their friends from many organizations, they know how to maximize their relationships for the benefit of their current employer.

Last, gray workers may have no ambitions for further promotion. They understand their situation and will prefer to remain in the background to help the organization and young people achieve their goals. Many of them would like to retain employment after retirement to remain intellectually nimble.

Those five advantages are on top of my mind. I’m sure there are a lot of more depending on the personal circumstances of the gray workers and the situation of their current employers. Given these advantages, then what are the disadvantages?

One major disadvantage of hiring gray workers pertains to their mental and physical health that could possibly derail the smooth operations of a business. This means that an employer wishing to hire and maintain a pool of mature workers would have to assign them to a support team, and not to critical functions. You have to allow for older people to occasionally absent themselves due to ailments.

That’s why you have to come up with a special employment contract that may include only the basic compensation minus statutory benefits. Employers are not expected to provide extra health and medical services that would mean additional cost. And for this reason, it is wise to require gray workers to undergo the usual pre-employment medical examination to protect the interest of everyone.

elbonomics@gmail.com

A matter of habit

Life tends to be more stressful when there are too many decisions and choices to be made, sometimes immediately. Weighing options and analyzing costs and benefits with imperfect information characterize what behavioral economists call the “tyranny of choice.” Reducing choices leads to establishing habits.

A business executive is often defined by routine. His authority is defined. He has a list of tasks assigned to him, even how his performance of such tasks will be evaluated and rewarded with variable pay depending on how he meets or exceeds his assigned goals.

The executive signs a contract on his guaranteed annual cash compensation. His work hours, including time for motivational sessions out of town, product launches, and vacations are set. He is given an assigned work space. The benefits he is entitled to, like health insurance, type of car, travel, parking space, key to the private elevator, and access to the executive dining room, are part of his expectations.

Okay, disruptions from technology and competition can disturb this comfortable routine. The qualifications that may have gotten this programmed robot his job may no longer be applicable to his ability of keeping it. His connections in landing clients become frayed over time. Too often does he hear: what got you here won’t get you there.

Anyway loyalty awards for length of service in big companies have been dwindling too. (And now, let’s call on the 30-year awardees.)

The new marketing approaches call for different skills that do away with personal connections, lunch rituals, and remembering birthdays. A new leader is hired from another industry with only disdain for the social structure and past relationships.

When winds of change blow, nothing stays nailed down. The corner office, birthday bonus, trips overseas on business class, security detail against kidnapping, and a regular car replacement every four years are “re-evaluated.” (Can we afford all these perks?) Costs are considered investments that should generate returns — you’ve heard of overhead, what about underfoot?

There is a new set of people being called to meetings involving less than six participants, including the minute taker who concentrates only on “next steps.”

The overturning of routine and predictability is a new stress point in the disruptive economy. Does a suddenly retired executive then embark on his own business and try to be his own boss?

One of the shocks of turning from corporate executive to entrepreneur (or venture capitalist) is not the prospect of losing one’s life’s savings after early retirement, although this is a distinct possibility, but the simple disruption of routine. The comfort of waking up at a certain time, driving off to office, and having something predictable to engage in are no longer available. Even the cash flow becomes volatile.

It is no wonder that executives who retire and lose their cherished routine end up with depressions. Habit can be a form of addiction too. The solution for getting out of the habit may lie in moving out of a comfort zone. Can you embrace a different kind of career, like raising funds from donors (which cannot include personal expenses), teaching, and joining a troll patrol? (A quick geography lesson is necessary.) The nostalgia for routine does not always have to do with money. This becomes secondary not because of its declining importance but its growing unavailability.

One option is to join a smaller company. The habits are similar even if the perquisites are considerably diminished. There are fewer trips and when they are available, the lines to get to the plane are longer with leg room for seats more cramped. Don’t ask for wine.

The executive needs to be pried out of years-long habits to shift his paradigm a bit. Instead of clinging to routine, he needs to welcome the unexpected. Small steps are needed: change the restaurant of choice, order salad instead of burgers, and brush teeth with the non-dominant hand. If only to learn new routines, these exercises can be liberating. They are also supposed to form new synapses in the brain to ward off dementia.

Anyway, there are still the remaining routines of coffee in the morning, tying one’s shoes, having a foot massage, and paying credit card bills that provide enough predictability (and anxiety) to achieve mental health.

An unplanned day now and then can offer surprises that need quick thinking… on the way to getting into a new routine.

 

A. R. Samson is chair and CEO of Touch DDB.

ar.samson@yahoo.com

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