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Quirks

Everyone has a particular quirk or a peculiar mannerism.

Quirks

The narcissist “I — Me — Myself” loves to admire her image in the mirror; the miser who counts pennies and irons his cash bills; the OC (obsessive compulsive) germ-hater who douses his hands with alcohol; the intense exercise freak who has cycles of work outs and weighs ins; the picky OC woman who washes stuff (clothes, dishes) every night; the superior being with the inflated, afflicted ego. These oddities are found around the world.

In the local scene, the selfish individual with the “territorial fence syndrome” thinks only of his domain. He excludes the community that he belongs to. (This happens more frequently in the big cities rather than in the simple, rural areas.)

To illustrate, let us observe an urban residential village. The house (big or modest) is usually kept immaculately clean. The garden or yard is impeccable. It has with flowering plants, healthy trees, and a lush lawn or hanging plants.

Beyond the fence is a different scenario. There is an assortment of tossed litter, dried leaves and twigs, weeds, garbage right outside — on the sidewalk or the empty lot.

For some odd reason, the homeowner only keeps his/her immediate surroundings clean. Anything outside the perimeter wall is considered “outside the boundary” and therefore, not in the area of responsibility.

“It is not my territory. It is outside my fence. Why should I care?”

The driver, motorcycle commuter, and pedestrian are among the flawed characters. With a natural predilection for shortcuts, the driver (public or private) disregards traffic rules and regulations — when it is convenient. The motorcyclists weave through traffic. They ignore signs and consciously breaks speed limits. There are thousands who suddenly crisscross from behind — left and right — and surge like swarms of ants. They are hazards who even scratch cars as they pass.

The pedestrian jay walks and avoids the white pedestrian lane. He waits for his bus ride on the highway. Until recently, he used to throw cigarette butts in the sidewalk and smoke in the no-smoking zones. No that there is nation-wide no smoking law, there are no more human smokers — except for the smoke-belchers.

Self-absorbed, self-important, he considers himself beyond the rules and laws. “I can do as I please; when I please; where I please.”

The lazy employee (office staff or household member) tends to take his work for granted. He/she is slow in completing simple tasks but quick to take stretched lunch and snack breaks, siestas. He/she rushes out to punch the bundy clock. The lackadaisical attitude shows that he/she is there to collect a salary but not work and earn it.

In contrast, when the Filipino is transplanted to another country, he is transformed into a model citizen. It is an amazing change in a different land. The loud, reckless, devil-may-care character becomes a subdued, disciplined, law-abiding individual (while he is residing abroad). He works hard and is proud to do so.

As soon as he sets foot on native soil, he reverts to his carefree, careless ways — with a sudden change. It’s a puzzling reversal, a personality switch. A quirk a la Dr. Jekyll and Mr. Hyde?

In the gated villages, one would expect a certain amount of order and discipline. After all, the genteel residents are well-educated, well-mannered, and law-abiding citizens. Their families and staff are expected to behave in the same low-key fashion.

There are glaring exceptions. As expected.

A speed freak terrorizes innocent strollers. His antics cause major accidents. Unfortunately, the influential driver-owner manages to pass the blame conveniently. The power tripper carries a gun to intimidate the victim.

At resorts, the serenity of nature is an essential element. However, the indulged, pampered set and their underlings exhibit variations of the “Me-first/I-feel-important syndrome.”

From dawn till dusk, despite specific restrictions during certain hours, the roar of motorbikes and jet skis echo through the restricted zones. The culprits feel entitled to disturb the peace.

People blindly disregard hazard signs.

This irresponsible attitude is evident in the utter disregard for the environment. (During the summer season, the favorite island destinations have plastic, broken glass bottles, and cigarette butts that litter on the beaches.)

The seas, rivers, and lakes have become convenient garbage dumping areas. Careless passengers on inter-island ships and local ferries contaminate the waters with trash. Factories and squatters located along the riverbanks pollute the water with toxic chemical and human waste.

Factories and dilapidated vehicles spew noxious fumes. The owners simply do not care about the atmosphere or the safety of the general public.

This behavior is bizarre. Some questions come to mind.

Is it carelessness or callousness? A lack of self-discipline?

Or the selfish desire to be different?

Maria Victoria Rufino is an artist, writer and businesswoman. She is president and executive producer of Maverick Productions.

mavrufino@gmail.com

Craig confirms he’s back as 007… one last time

NEW YORK – Daniel Craig, the British actor who famously complained he’d rather slash his wrists than play James Bond a fifth time, has finally confirmed he’s returning as 007 after all… one last time.

Daniel Craig 081717
DANIEL CRAIG at a photocall for the James Bond film Spectre in Berlin on Oct. 28, 2015. – AFP

The New York Times first reported last month that the 49-year-old’s return to the big screen in 2019 was a “done deal” for the 25th movie in a franchise that has thrilled generations of cinemagoers.

But the actor had previously stopped short of confirming the reports.

“I’ve been quite cagey about it,” he admitted Tuesday to US television host Stephen Colbert on CBS’s The Late Show.

“I’ve been doing interviews all day and people have been asking me and think I’ve been rather coy, but I kind of felt like if I was going to speak the truth, I should speak the truth to you,” he said.

Asked if he was returning as Bond, Craig replied: “Yes” before standing up and shaking Colbert’s hand with a grin.

“I couldn’t be happier,” he added.

But the star said it would be his last outing as the fictional British secret agent: “I think this is it. This is it. I just want to go out on a high note.”

Craig’s return had been subject to furious speculation for years. In 2015, he told Time Out magazine: “I’d rather break this glass and slash my wrists… We’re done. All I want to do is move on.”

He has since distanced himself from those remarks, attributing them to being tired straight after a grueling shoot for the 2015 Bond movie Spectre.

“Instead of saying something with style and grace, I gave a really stupid answer,” he told Colbert.

Asked how long he had known he would be back for a fifth Bond, Craig said it had “been a couple of months.”

“I always wanted to, I needed a break.”

Bond is set to return to US cinemas on Nov. 8, 2019 with an earlier release in Britain and worldwide, says Eon Productions, which oversees everything Bond, and Metro-Goldwyn Mayer, which holds rights to the franchise.

Craig is the seventh actor to play Bond, following Sean Connery, Roger Moore, David Niven, George Lazenby, Timothy Dalton, and Pierce Brosnan. – AFP

RIP. LOL

YOUR ESTRANGED FATHER, Hesus, has died, and your mother asks you and your siblings (including the family dog Hudas) to go on a road trip from Cebu to Dumaguete to pay your final respects. You try your best to excuse yourself, but your mother will hear nothing of it.

This is how the predominantly Cebuano language comedy film Patay na Si Hesus begins.

Road trip movies are popular — Y Tu Mama Tambien, Priscilla Queen of the Desert, My Own Private Idaho, The Ride, Easy Rider, Motorcycle Diaries, To Wong Foo Thanks for Everything Julie Newmar, Midnight Run, Planes Trains and Automobiles, Rain Man, Elizabethtown, and Thelma and Louise are just some of the titles offered when one asks people for their favorites on Facebook.

Of local films there’s Two Funerals and Colorum (both Cinemalaya entries in years past), Pauwi Na, and Sandalang Bahay.

Early on there was a loud buzz about Patay na si Hesus, which is one of the 12 movies that will be shown for an entire week, from Aug. 16 to 22, in theaters nationwide for the Pista ng Pelikulang Pilipino (PPP), an initiative of the Film Development council of the Philippines (FDCP).

Screenwriter and writing mentor Ricky Lee, who was part of the jury that selected the film as one of the 12 finalists of PPP, said the film “Celebrates the joyous imperfections of every Filipino family. Jaclyn Jose leads a superb cast of quirky yet lovable characters on a road trip that will leave you crying and laughing at the same time.”

The characters of the movie are endearing. OTJ and Ang Pagdadalaga ni Maximo Oliveros’ writer Michiko Yamamoto is quoted in the movie’s press kit as saying she loves them so much she wishes that Iyay (Ms. Jose, the mother), Hubert (the eldest son who has Down Syndrome), Jude, and Jay (Melde Montanez) were real people.

The film’s director, Victor Villanueva, said during a Q&A at the Cultural Center of the Philippines, where it was screened during the Cinemalaya Film Festival, that Patay na si Hesus was inspired by the experiences of the family of the movie’s writer Fatrick Tabada.

Mr. Villanueva also tapped the experiences of his own Cebu-based family that frequently vacationed in Dumaguete. He pointed out that in the same way that Manileños frequent Tagaytay, Cebuanos love going to Dumaguete on road trips.

In his free time, according to the film’s press kit, Mr. Tabada “takes jeepney and bus rides without any destination in mind. On such trips, he conjures places and people that don’t exist.”

Patay na si Hesus is his first produced screenplay. — Susan Claire Agbayani

MTRCB Rating: R-13

Peso slips to fresh low

THE PESO slipped to another near 11-year low amid strong appetite for the dollar intraday despite upbeat Philippine economic growth data and dovish minutes form the US Federal Reserve.

The peso closed at P51.355 versus the greenback yesterday, almost unchanged from Wednesday’s finish of P51.35-to-the-dollar. Still, it was the local unit’s weakest close in almost 11 years or since it ended at P51.38 a dollar on Aug. 25, 2006.

The peso opened the session at P51.25 against the dollar. Its best showing was at P50.17, while its weakest intraday level was at P51.38 versus the greenback.

Trading volume was at $688 million, down from the $824.7 million that changed hands in the previous session.

Traders attributed the peso’s flat close to stronger demand for the greenback despite faster Philippine gross domestic product (GDP) growth and the Federal Open Market Committee (FOMC) minutes.

“It was basically a quiet trading day. Towards the end of the day we saw demand for the dollar still on tensions between the US and North Korea. Basically the movement of the peso was really political despite Philippine GDP and the FOMC minutes,” one trader said by phone.

Similarly, another trader said: “Although the dollar initially traded lower due to dovish FOMC minutes and there was a brief reaction intraday on the Philippine GDP data, but it was only a knee-jerk because GDP was already priced in to go higher.”

A third trader said on Thursday: “The peso initially appreciated today due to stronger Philippine GDP growth in the second and concerns in the FOMC minutes about easing US inflation. The peso’s gain, however, was temporary, as the local currency again weakened towards the end of the day, still because of persistent expectations of another US rate hike this year.”

Reuters reported the minutes of the Fed’s July 25-26 meeting bared policy makers worrying of weak US inflation, with some noting of not hiking interest rates.

Meanwhile, the Philippine economy grew 6.5% in the second quarter, picking up from the 6.4% in the previous quarter.

For today, one trader said the exchange rate could settle within P51.20 to P51.50, while the second trader sees the peso at P50.25 to P50.45 per dollar. The third trader said the peso could move within the P51.30 to P51.50 range.

“There might be sideways movement due to scarcity of fresh leads. A slight upward bias for the peso might be observed, as some investors might take profit ahead of the weekend,” one trader said. — J.M.D. Soliman

Regulatory challenges pull down LWRC earnings

STRICTER REGULATIONS for gaming firms weighed on Leisure and Resorts World Corp. (LRWC)’s operations in the second quarter, pulling down its attributable profit by over 71% during the period.

In a regulatory filing, LRWC disclosed a net income attributable to the parent of P89 million, dropping from the P311 million it generated in the same period in 2016. Revenues fell by 11.5% to P2.53 billion.

Including first quarter results, the company’s attributable profit totalled P361 million, 40% lower than the P600 million it made in the comparable period in 2016, following a 7.5% decrease in revenues to P5.06 billion.

The operator of bingo parlors and eGames outlets attributed the decline to changes in the regulatory environment in the latter part of 2016, which led to significant losses in the operations of its subsidiary, First Cagayan Leisure and Resort Corp. (First Cagayan).

“Decline during the quarter are attributable to the significant loss of First Cagayan revenues when Pagcor (Philippine Amusement and Gaming Corp.) issued POGO (Philippine Offshore Gaming Operation) licenses and the decline experienced by ABLE due to challenges in the regulatory environment,” the company said, referring to its subsidiary AB Leisure Exponent, Inc.

First Cagayan saw a 94% drop in revenues during the first half to P18 million, as locators in the estate stopped reporting revenues, prompting the decline in hosting fees.

Earnings of the company’s retail arm also dipped 44% to P123 million, as the bingo operations of ABLE slid to P118 million or 45% from the P215 million in the first semester of 2016. The unit has over 9,700 electronic bingo games across the country, while LRWC’s wholly owned subsidiary Total Game Zone Xtreme has more than 1,900 eCasino terminals installed.

For the property division, the company noted that the second quarter was the first reporting period after which its unit AB Leisure Global, Inc. divested its economic interests in the City of Dreams Manila Integrated Resort and Casino. This resulted to net loss of P14 million for the quarter, from a previous profit of P69 million in the same period in 2016.

Wholly owned unit LR Land Developers, Inc., meanwhile, reported a net income of P2.9 million for the second quarter, boosted by the performance of its associate, Techzone Philippines, Inc.

Shares in LRWC dropped by two centavos or 0.48% to P4.12 each on Thursday. — Arra B. Francia

Australia adds more jobs than forecast

AUSTRALIA added more jobs than forecast in July, even as a burst of full-time hiring came to an end, setting up a mixed picture for a central bank that’s been showing confidence the labor market is on the mend.

jobs
An office worker walks through Sydney’s Circular Quay on October 15, 2015. — AFP 

Employment rose 27,900 from June, almost all in the state of Queensland; economists forecast 20,000 gain Jobless rate falls to 5.6% from revised 5.7% in June; estimate 5.6% Full-time jobs fell by 20,300, the biggest decline since January; part-time employment rose 48,200 Participation rate climbed to 65.1% from 65% ; economists predicted 65% Aussie dollar bought 79.28 US cents at 12:40 p.m. in Sydney compared with 79.47 cents pre-data.

The data provide ammunition to both hawks and doves. For the Reserve Bank of Australia, rising employment chimes with its confidence of a strengthening labor market boosting income growth and supporting consumption. For doves, the slump in full-time employment and monthly hours worked supports the view of a soft underbelly in a jobs market looking sound at the headline level.

The RBA has kept the cash rate at a record low 1.5% for the past year to cushion the economy’s transition to manufacturing and services-driven growth and away from mining investment. Markets are pricing in little chance of a hike until the second half of next year in an environment of weak wage growth and tepid inflation, a picture reflected in many developed world economies.

The rise in employment “continues the recent very good run and is going someway to cushioning the blow to households’ finances from record low wage growth,” said Paul Dales at Capital Economics. “The past volatility of the data means it pays not to get too excited by strong employment data and not to get too worried by weak data.” “Overall we’d consider this a robust employment report — and one that follows a string of solid gains,” said Adam Boyton of Deutsche Bank. “Employment has risen by 1.9% in Western Australia over the past year and 2.7% in Queensland after some pronounced weakness. This suggests to us that the post-mining investment boom adjustment is now largely complete in those two states.” “There is still a high degree of slack across the labor market,” said Callam Pickering of Indeed. “This is helping to contain wage growth and indicates that the economy still has some way to go before the Reserve Bank should contemplate tighter monetary policy.”

Unemployment rose in the two states driving the national economy, New South Wales and Victoria, to 5% and 6.1% respectively The island state of Tasmania recorded the biggest lift in jobless, to 6.3% from 5.6%; it also regained the mantle of the worst unemployment rate after South Australia dropped to 6.2% from 6.6% The resource-rich and tourist destination of Queensland recorded the bulk of the jobs increase with 27,000 positions; Victoria and Tasmania shared the biggest losses with 2,200 apiece Monthly hours worked in all jobs decreased 14.4 million hours, or 0.8%, to 1,690.4 million. — Bloomberg

Treaty to curb mercury risk takes effect

PARIS — A 128-nation treaty to curb exposure to the dangerous heavy metal mercury entered into force Wednesday, the United Nations announced on the convention’s Web site.

Adopted in 2013, the Minamata Convention on Mercury was named for the Japanese fishing town in which thousands were poisoned by the deadly element in the mid-20th century. The toll was caused by discharge from a chemical factory: Japan officially recognized more than 1,700 deaths and nearly 3,000 cases of poisoning, though tens of thousands were subsequently compensated.

The shiny metal liquid, once commonly found in medical thermometers, attacks the nervous system and can result in severe, life-long disability. Children are especially vulnerable.

“Millions of children and adults around the world are exposed to mercury on a daily basis,” said Juliane Kippenberg of Human Rights Watch. “The Minamata Convention strengthens governments’ obligations to protect people’s rights to health and to a health environment from this toxic substance.”

The watchdog group has documented exposure to mercury by children and adults working in small-scale gold mines in Ghana, Mali, Nigeria, Tanzania, the Philippines and Papua New Guinea.

Ratified by 74 parties, the treaty obliges member nations to promote mercury-free gold processing methods, to protect especially vulnerable populations, and to end especially harmful practices, such as the burning of the mercury-gold amalgam in residential areas.

Member countries also commit to improving health care services for those exposed to the metal, and regulating its use in industry.

Important gold-mining countries that have ratified the treaty include Ghana, Canada, the United States, Brazil and Peru.

The trigger for entry-into-force was the May 18 ratification by the European Union and seven European Union member countries.

The first convention of the Parties will take place in Geneva from September 24 to 29. — AFP

Senate committee approves Foreign Affairs budget, presses Justice dep’t on killings

THE Senate Committee on Finance postponed the approval of the proposed 2018 budget of the Department of Justice (DoJ) of P17.276 billion after failing to obtain specific information on alleged extrajudicial killings accompanying the campaign against illegal drugs, though it approved the P19.66 billion budget of the Department of Foreign Affairs (DFA) on Thursday.

Senate PRIB
Senator Loren Legarda, chair of the Senate Finance Committee, fields questions to officials of the Department of Justice (DOJ) led by Secretary Vitaliano Aguirre during the agency’s budget hearing at the Senate on Aug. 17, 2017. The proposed national budget for 2018 allocates P18.5 billion to the DOJ to allow government to “pursue justice that is swift and fair.” Also in photo is Senate Minority Leader Franklin Drilon, a former DOJ Secretary. (PRIB Photo by Romeo Bugante/ 17 August 2017)

Sen. Franklin M. Drilon inquired about the accomplishments of an interagency committee tasked with looking into alleged instances of extrajudicial killings. He specifically asked about the deaths caused by the campaign on illegal drugs.

The committee, which is proposed to receive P33.3 million in 2018, up from P32.9 million in 2017, failed to immediately provide statistics that Mr. Drilon asked for.

Di ko nga maintindihan kung ano ang interagency committee e. Hindi nga nila maipaliwanag kung ano ang trabaho nila. Gumastos sila ng mahigit sa P30 milyon na pera ng taumbayan. Di ko maintindihan kung ano ang ginagawa nila,” he said. (“I don’t understand what the interagency committee does. They can’t even explain their work to me and they are spending more than P30 million of the people’s money.”)

Mr. Drilon further questioned DoJ officials regarding reports of 4,000 deaths that allegedly resulted from the crackdown on illegal drugs. According to the DoJ, out of the 4,000, 3,050 were legitimate operations while about a thousand were allegedly perpetrated by vigilantes. Thirty seven of these cases are being investigated by the National Bureau of Investigation (NBI) of which 24 are pending while three were concluded and recommended for prosecution. These totals cover the period of July 1, 2016 to May 2017.

Mr. Drilon, speaking to reporters, said he is disappointed “but I think there is deliberate attempt to be less than transparent to keep this from the public.”

The interagency committee looks into suspected extra-legal killings, enforced disappearances, torture, and other grave violations of right to life, liberty and security of persons, according to the presentation by the DoJ. 

DoJ Secretary Vitaliano N. Aguirre added that it was only after the Department Order 120 was imposed that the NBI had the power to investigate extrajudicial killings related to the drug campaign. It was released in February. The cases concerning labor, journalists and other groups are filed under Administrative Order 35. 

After Mr. Drilon left, the DoJ was able to provide the information the senator was seeking. As of Aug. 4, under Department Order 120, DoJ had received 11 reports, filed nine cases and dismissed one. These covered Regions 1 to 15. 

“With respect to the killings on drugs, they are not part of the extrajudicial killings,” Mr. Aguirre said. He also added that the interagency committee meets once a month. 

Mr. Aguirre said that the DoJ is still waiting for reports from more than 200 provincial prosecutors. The department has yet to collate the information and he is asking for more time.

The P17.276 billion budget represents 0.46% of the proposed national budget. Sen. Loren B. Legarda, who chairs the Senate Committee on Finance, said the DoJ budget will be approved once the questions of Mr. Drilon had been addressed. Another hearing was set for Aug. 31.

The P19.66 billion budget of the DFA, on the other hand, was approved by the committee, making it the first department to hurdle the budget hearings.

Ms. Legarda, however, asked the DFA to strengthen its economic research and translate to operationalized information. The Senator also asked the department to provide an inventory of all grants and loans from various multilateral institutions. — Mario M. Banzon

Richard Gutierrez faces perjury, falsification of documents raps

ACTOR RICHARD Gutierrez is facing perjury and falsification of documents charges, on top of a pending P38.57-million tax evasion complaint, filed yesterday by the Bureau of Internal Revenue (BIR). In a statement, the BIR said Mr. Gutierrez “used fake and falsified tax returns to secure the dismissal of the tax evasion case filed against (his company) R Gutz Production Corp.” The BIR said that the Annual Income Tax Returns (ITR) and Quarterly Valued-Added (VAT) Tax Returns attached to Mr. Gutierrez’s counter-affidavit in his tax evasion case currently pending at the DoJ are “falsified.” “The attached returns were deceptively made to appear to have been stamped received by Revenue District Office No. 42 — San Juan City,” the BIR said. The RDO 42 — San Juan and the Document Processing Division of BIR Quezon City both have certified that R Gutz Productions Corp. had no VAT returns filed for the 2nd, 3rd, and 4th quarters of 2012. — Kristine Joy V. Patag

For the sake of productivity, put a woman in charge

By Noah Smith

IF YOU’VE NEVER tried a Japanese snack called Jagariko, I highly recommend it. When I visited the Tokyo offices of Japanese snackmaker Calbee, Inc., I made sure to ask if I could have a free pack of my favorite snack. “Maybe,” the managers hedged.

For the sake of productivity, put a woman in charge

I wasn’t at Calbee to talk about their potato sticks, but their corporate culture. Calbee is famous in Japan for a progressive, female-friendly workplace. Japan’s government has scaled back its ambitions to put more women in corporate management roles, but Calbee is pushing ahead full steam. The company has increased the share of female managers from 5.6% in 2010 to 22.1% in 2016, and is aiming for 30% by the end of the decade.

But Calbee managers explained to me that gender equality is only a small facet of the company’s attempts to transform the company’s management style. The real goal, they told me, was to shift from a culture that valued input of effort to one that rewarded results, efficiency, and productivity. They asserted that female managers are actually more productive than men — where men feel social pressure to stay at work even if nothing needs doing, the Calbee folks said, women feel pressure to finish their tasks quickly and efficiently so they can get home to spend more time with their kids. My interviewees therefore argued that work-life balance, gender equality, and results-oriented management are all just aspects of a unified whole.

A shift from long hours to efficient, goal-oriented work is exactly the right medicine for white-collar Japan. Almost alone among developed countries, Japan has actually seen its total factor productivity — a measure of overall business efficiency — fall rather than rise over the last four decades.

One big reason is that service industries depend less on robots and more on human office workers. And there’s evidence that Japanese office culture has been badly broken for quite some time. Japanese workers put in famously long hours — so much that death from overwork is a well-known concept. But many companies are still using antiquated technologies like fax machines and cassette-tape recorders.

Failure to care about upgrading ancient technology is a sign that many Japanese companies aren’t placing a high premium on the amount of work that actually gets done in their offices. Instead, punishingly long hours are probably a way that workers signal their loyalty to their bosses and employers. Signaling, as every economist knows, is a costly, even wasteful process. If Japanese companies trust their workers so little that they force them to sacrifice much of their personal life just to prove their commitment, that lack of trust is holding back the economy. It’s probably decreasing fertility too, since long hours at the office make it much harder to raise children.

That’s why results-oriented management, which might seem obvious and natural to an American, represents such a revolution in Japan. It calls into question the whole idea of what work means.

For too many Japanese people, work is about input of effort — an hour at the office is an hour of work. The idea that this is not actually work unless real economic value is created for the company will require Japanese managers and workers alike to change their whole personal value system.

It’s a needed change, and it will be a wrenching one.

It will also probably require many Japanese people to find a new source of self-worth. The realization that wasted office time isn’t real work will probably challenge a lot of people’s view of themselves as hard workers — they’ll have to learn how to pride themselves on getting things done, instead.

It’s also worth asking whether the US, too, could benefit from this sort of change. Americans put in a lot more work hours than Europeans, but it’s questionable how much of that extra effort translates into real productivity.

If US workers are wasting more office time on social media, it could mean that productivity gains from new technology are being frittered away on a low-grade form of pseudo-leisure. If you’re going to goof off on Twitter, why not do it from your living room? Cutting hours for white-collar US workers like lawyers, engineers, and finance traders might result in better work-life balance without a drop in productivity.

But for Japan, where the need for efficiency is most acute, Calbee remains a standout. Let’s hope more companies copy its management style — a bright spot of modernity in a hidebound, old-fashioned world.

As for my free pack of Jagariko, I never got it.

As soon as I had asked all my questions, the woman manager I was interviewing bid me a friendly but brief farewell, opened up her laptop and started doing some real work.

BLOOMBERG

2nd quarter GDP data fuel bourse to extend gains

By Arra B. Francia, Reporter

THE Philippine Stock Exchange index (PSEi) yesterday extended gains for the fourth straight day to close in on its record-high finish more than two years ago, driven this time by second-quarter economic growth data that kept the country in Asia’s lead in this regard.

The 30-member bellwether index hit an 8,105.01 intraday peak before tempering early gains to close the day at 8,072.75, 26.16 points or 0.32% more than the preceding day’s finish. The all-shares index similarly rose by 9.8 points or 0.2% to end 4,760.89.

It remains to be seen today whether PSEi will test or top its record-high finish of 8,127.48 recorded on April 10, 2015.

“It was still up after the fourth day, after the release of GDP (gross domestic product) wherein GDP was at 6.5%. So clearly it’s saying that the growth of our economy locally is moving upward despite high spending during the election last year,” Diversified Securities, Inc. equities analyst Aniceto K. Pangan said in a phone interview yesterday. “This created a positive investor sentiment further moving the market upwards.”

The Philippine Statistics Authority reported yesterday that GDP grew by 6.5% last quarter, a tad faster than January-March’s 6.4% but slower than the year-ago 7.1% that benefited from spending related to the May general elections. Year-to-date GDP growth now averages 6.45% against the government’s 6.5-7.5% full-year target for 2017.

For Regina Capital Development Corp. Managing Director Luis A. Limlingan, “Philippine equities met with a lukewarm reception the latest 2Q GDP figure, as the 6.5% mark was slightly above the median estimate of 6.4%.”

“Investors still bought into the news as the index attempted another crack at the 8,100 level.”

A total of 1.17 billion shares worth P6.31 billion changed hands, compared to Wednesday’s 1.54 billion issues worth P12.74 billion.

PSEi_081717

Advancers beat decliners, 111 to 77, while 55 issues were unchanged.

Sectoral indices were equally divided between those that gained and those that lost.

Advancers consisted of property that increased by 27.04 points or 0.71% to close at 3,826.8, financials rose 13.84 points or 0.69% to 2,012.47 and services climbed 10.64 points or 0.62% to 1,711.64.

Those that lost consisted of holding firms that declined by 8.59 points or 0.10% to finish 7907.37, mining and oil which dipped by 12.61 points or 0.09% to 12,864.95 and industrial which shed 9.68 points or 0.08% to close 11,059.7.

The bourse yesterday marked its eighth straight trading day of net foreign buying, recording P352.81 million that was the biggest in seven days.

Planting bamboo

In celebration of World Bamboo Day 2017, the ALC Foundation is organizing a bamboo planting trail dubbed as Camp Kawayan under its Kawayanihan project.

The half-day event hopes to gather around 2,000 volunteers from Metro Manila, Central Luzon, and South Luzon along the riverbanks of San Mateo, Rizal (starting from Dulongbayan 1) on Sept. 23, 6 a.m. onwards. It is hoped that this will become a yearly event, as part of the World Bamboo Day celebration. Camp Kawayan aims to raise awareness about the benefits and potentials of bamboo, as well as to encourage community bamboo planting and growing as a way of climate change mitigation and adaptation. The event will be held in coordination with the Rizal Provincial Government and the Municipality of San Mateo, Rizal. The registration fee is P300 inclusive of bamboo saplings, an event shirt, and certificate of participation.

Register at bitly.com/KawayanihanRegForm. For details about the event, visit ALC Foundation’s Facebook page facebook.com/alcfoundationph.