Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 2861

Bob Barker, long-time US TV game show host, 99

Bob Barker in the hit game show The Price is Right. — IMDB
Bob Barker in the hit game show The Price is Right. — IMDB

BOB Barker, an affable fixture on US television for half a century who hosted the popular game show The Price Is Right for 35 years and was a committed animal rights activist, has died at age 99, his publicist said.

The silver-haired Barker, host of The Price Is Right from 1972 to 2007, won 19 Daytime Emmy awards, the top US television honors, and also was known for a memorable comic turn playing himself in the hit 1996 film Happy Gilmore, beating up a character played by Adam Sandler.

Mr. Barker died on Saturday morning of natural causes at his longtime Hollywood Hills, California, home, his publicist Roger Neal said.

Mr. Barker gave millions of dollars to pro-animal causes, including donating $5 million for a 1,200-ton ship named the Bob Barker that was operated by the Sea Shepherd Conservation Society to stop Japanese whaling ships from killing whales off Antarctica.

The Price Is Right, in which contestants tried to guess the price of various consumer products and played a slew of games to win prizes, became a US pop culture institution on daytime TV with the smooth-talking Mr. Barker at the helm for 6,586 episodes.

A studio announcer would bray “Come on down!” as one by one excited contestants would trot out of a studio audience down to the stage. Exuberant contestants occasionally would bear-hug and even tackle Mr. Barker.

“Can I kiss you?” a woman once inquired during a show.

“No, I’m working,” deadpanned Mr. Barker, known for his good-natured humor. “Meet me in the parking lot later.”

Over the years, he handed out more than $300 million in cash and prizes like cars, appliances and trips.

“I think TV hosts are like pies and some people like apple and some cherry and some chocolate,” Mr. Barker told the Hartford Courant in 2009. “I’m just very fortunate that they liked me well enough to invite me into their homes for 50 years.”

The Price Is Right became the longest-running game show on US television. Mr. Barker returned to the show in 2013 to mark his 90th birthday and again in 2015 for an April Fools’ Day episode.

Mr. Barker was known for pro-animal causes and campaigned for them into his 90s. He would end episodes of The Price Is Right by urging viewers to get their pets spayed and neutered to control the animal population and began a foundation to subsidize the practices. He also spoke out against the treatment of animals in zoos, rodeos, and circuses.

Mr. Barker stopped eating meat in 1979. His hair abruptly became silver when he quit using hair dye because it is tested on animals. In 1987, Mr. Barker quit as longtime host of the Miss USA and Miss Universe beauty pageants when pageant officials refused to stop draping contestants in fur coats.

In the film Happy Gilmore, Mr. Barker played himself in a memorable scene in which he was playing in a golf pro-am tournament with Mr. Sandler’s character, an excitable failed hockey player turned golfer. The two come to blows in a wild, extended comic brawl that ended with Mr. Barker thrashing Mr. Sandler.

They staged another fight for a promotional video in 2015 when Mr. Barker, who studied karate with tough-guy actor Chuck Norris, was 91.

In 1994, a woman who worked as a model on The Price is Right sued him for sexual harassment but Mr. Barker said it was a consensual intimate relationship. The suit later was dropped.

Mr. Barker, born on Dec. 12, 1923, in Darrington, Washington, began his career in radio. In 1956, he was hired to host a TV version of the radio quiz show Truth or Consequences on NBC, and stayed with the program until 1975. Even before his stint on that show wrapped up, Mr. Barker began hosting The Price Is Right on CBS.

Mr. Barker did not remarry after his wife, Dorothy, died of cancer in 1981. — Reuters

‘Morizo-ned’

That’s Toyota Motor Corporation Chairman Akio ‘Morizo’ Toyoda burning rubber aboard a WRC-spec GR Yaris. — PHOTO BY KAP MACEDA AGUILA

Of the WRC-spec GR Yaris, the Toyota chairman, and screaming like a kid aboard an amusement park ride

AN ANGRY SUN that seared the goings on belied the inundation of the previous night. Even some ominous rainclouds that hovered above for a few moments appeared unconcerned about staying put and moved on. Only a few rapidly drying puddles and a pump angrily siphoning off remaining water at the Quirino Grandstand gave clues to what happened just a few hours prior.

“The rain was crazy last night,” several Toyota Motor Philippines Corporation (TMP) officials told me as I arrived at the venue.

All good then. It was starting out to be perfect day for what was to come: the Philippine staging of the Toyota Gazoo Racing Festival (or, more simply, TGR Fest) – a celebration upon a celebration that was the 35th anniversary of TMP.

Open and free to the public, the spectacle was billed as a “gathering of motorsports enthusiasts and car aficionados celebrating the thrill and joy of driving Toyota cars.” To the uninitiated, Toyota Gazoo Racing (or GR) embodies the motorsports aspirations of the brand, and whenever you see that logo affixed onto a vehicle (more so if it prefixes a nameplate such as in the case of the GR Supra, GR Yaris and GR 86 here), you can expect heightened driving experience, response, and performance.

Back to the TGR Fest, the two-day event turned the historic venue in the heart of Manila into a showcase of speed and driving ability. Japanese TGR champion racers Norihiko Katsuta and Masahiro Sasaki flew into town to pilot GR cars through a maze of orange cones – highlighting a skill for driving, and drifting. Of course, Filipinos were well-represented in these “gymkhana” exercises through Alex Perez, Luis Gono, Marlon Stockinger, and Ryan Agoncillo using aforementioned GR performance cars.

But the highlight of the event was, undoubtedly, the appearance of the top brand ambassador of Toyota: Akio Toyoda, the company’s chairman, who takes on the name “Morizo” whenever he gets behind the wheel in pursuit of speed and performance.

Mr. Toyoda is obviously not your average high-powered automotive executive – not just because he willingly takes the wheel, but he has been keenly trained to do so.

The grandson of Toyota’s founder Kiichiro Toyoda, Akio-san is also Toyota’s master driver or chief test driver. Sure, most anyone can lay claim to that title, you say – particularly because of his name. But the younger Mr. Toyoda was actually mentored by the company’s then chief test driver, Hiromu Naruse. According to Toyota Times, Mr. Naruse, who joined the company in 1963, “had been involved in motorsports activities as a mechanic and evaluation test driver.” He was also the chief of the Gazoo Racing team, which was established in 2007.

The story goes that the two first met when Akio went home to Japan after serving as a vice president for a United States subsidiary of Toyota. Even as he already wielded a “top-ranked driving license” then, Mr. Toyoda was at the receiving end of harsh words from his future driving coach.

“It’s annoying that someone at the top like you doesn’t know the basics of driving, but just gets into the car and comments on this and that,” Mr. Naruse had reportedly said, adding, “Test drivers put everything on the line in the name of creating better cars. To talk about this and that without knowing anything just causes trouble.”

Then came the offer: “If you feel like it, even if just once a month, I’ll teach you how to drive.” And so he did.

Sadly, Mr. Naruse passed away in 2010 aboard a prototype vehicle he was testing near the Nürburgring in Germany. Gazoo Racing and its people soldiered on, and the term “let’s make ever-better cars” that is the mantra of Toyota is said to embody “the feelings (Mr. Toyoda) inherited from Naruse.”

* * *

At the pit area, several of us media people were cracking jokes in anticipation of what was to come: A “taxi ride” aboard any of the vehicles – one of which would be driven by, you guessed it, Morizo.

“Maybe we could request for a straight-line performance,” someone quipped, quite aware that he was prone to car sickness. I was also a little, well, concerned because I have a knack for get dizzy when I’m not at the wheel myself. To be honest, we weren’t lacking in faith for the drivers; rather, we were worried about our own constitution.

I was handed a balaclava and an open-faced helmet which I quickly squeezed onto my head. Things seemed to happen both quickly and in slow motion. I was escorted into the passenger seat of Morizo’s WRC-spec Toyota GR Yaris – a heavily modified beast boasting, per Toyota, over 500ps and 500Nm. Its inline, four-cylinder turbo is also a glimpse at the present and future – being a hybrid.

A staffer strapped me onto the racing seat as the GR Yaris’ engine roared impatiently. I was taking everything in, and was, of course, conscious that I was going to be driven around by Morizo himself. I was grabbing my phone in a death grip. “Whatever you do, don’t let go of your phone,” said one of the Japanese handlers when I asked if it was okay to do video aboard the vehicle. Visions of my phone smacking Morizo on the head while the GR Yaris danced around the cones played non-stop. That must not happen, Kap.

“Please take care of me! Good luck to us!” I meekly pleaded. “Yes,” said Morizo, with a smile that bordered on mischief, to be honest. I wanted to ask so many things. This could have been a one-on-one interview, except for the screaming.

Mine, of course.

We were off, and Morizo was working on the steering wheel like crazy while I was trying to steady the phone and its front-facing camera in an effort to let it inhale everything it could. I remember a fleeting moment of embarrassment – quickly supplanted with terror – when I realized I was screaming “Oh my God!” within obvious earshot of the leader of Toyota.

I was also trying to figure out if I was getting car sick (thank God I wasn’t). I remember spying a GoPro camera affixed on Morizo’s side of the cabin, and I briefly prayed it wasn’t turned on.

Meanwhile, I could have sworn seeing Morizo’s grin get wider as my yelling increased in volume. He must have thought what a softie he ended up with. Smoke from the burning tires crept into the cabin from the abuse, and made the experience a truly more intense one. After what seemed like an endless number of donuts, I felt he let off the throttle and headed to the pit.

I read a great scribe describing his visceral experience with a sports car as akin to being “mugged by angels.” I think that perfectly captures my “taxi ride” with Morizo.

Overwhelmed but blessed.

Pepsi-Cola on track to meet energy reduction targets 

PEPSIPHILIPPINES.COM

BEVERAGE manufacturer Pepsi-Cola Products Philippines, Inc. (PCPPI) is on track to achieve its energy reduction targets as it aims for more sustainable operations.

“For water, our target is to reduce usage by 10%; while for fuel, energy, and power, our goal is to reduce them by 4%. As of end-July this year, we have already reduced our total energy use by 1.5%, keeping us on track with our targets,” PCPPI Director for Manufacturing Walton A. Firmeza said in a statement.

PCPPI is also aiming to lower the use of grid electricity in select plants by up to 30%, while an 8% reduction is projected in the company’s total grid electricity usage as it shifts to solar power for its manufacturing plants.

The company will install solar panels in select production facilities as part of its transition to renewable energy and plan to reduce energy consumption.

“We assess our organizational priorities based on where we can make the most impact. Among the initiatives we have in place addresses our use of water and energy for our returnable glass bottles,” Mr. Firmeza said.

He said the company’s bottle washers consume most of a facility’s energy.

“As such, we ensure that we use energy-efficient washers, conduct proper and regular maintenance, and train our teams on how they can help support our productivity goals,” he added.

PCPPI also strengthened its efforts to lower the plastic content in its products and packaging. The company previously reported that the volume of carton material used in its packaging dropped by 99.1 metric tons in 2022.

“Through these initiatives, we are able to reinforce our commitment to take action to protect our planet, while inspiring and empowering our people to do the same,” PCPPI President and Chief Executive Officer Frederick D. Ong said.

Meanwhile, PCPPI said its resource management policies are reflected in the company’s Luntian Yaman program, which focuses on water usage reduction, electricity use optimization, fuel yield optimization, solid waste management, and community-building participation.

The company added that its environmental, social, and governance commitments are referenced from the United Nations Sustainable Development Goals.

“By upholding the three pillars of sustainability, namely circular economy, water stewardship, and inclusive business, PCPPI is committed to creating a positive impact on society with programs focused on environmental sustainability, nation-building, and inclusive development,” the company said.

PCPPI is the domestic manufacturer of PepsiCo beverages such as Pepsi, Mountain Dew, 7Up, Mirinda, Mug, Gatorade, Sting, Tropicana, Lipton Iced Tea, Milkis, Chum Churum Soonhari, and Premier Purified Water.

The company has 14 manufacturing facilities, which serve over 700,000 outlets nationwide. — Revin Mikhael D. Ochave 

Remembering Willie

The chronic problem of tax evasion in general and smuggling in particular has not only meant losing huge revenues but also enervating our institutions. Finance Secretary Ben Diokno thus pays serious attention to tax administration reforms to curb all kinds of tax evasion.

To be sure, tax administration by itself will be insufficient to significantly generate the revenues to realize the medium-term and longer-term development goals. In truth, the country needs new taxes or increased taxes for certain categories to finance post-pandemic development programs and the transition to a green economy. Higher taxation can be done in a fair and equitable manner. For example, policy should tax consumption that harms health (e.g., alcohol and tobacco) and the environment. And tax the rich.

But neither should we diminish the value of tax administration in contributing to overall tax effort, strengthening State capacity, and regaining public trust in the revenue-collecting agencies.

Recently, tax administration has been concerned over smuggling. The issue of smuggling has attracted more attention than other types of tax evasion. Smuggling has become the staple of headline stories. The fact is that all sorts of products are being smuggled. Rice, onions, poultry, pork, seafood, tobacco, liquor, fuel, motor vehicle parts, and counterfeit signature brands are among the most smuggled items.

The estimates of the volume and value of the smuggled products vary widely. This is understandable, for information on illicit trade or criminal activities is incomplete. Although some quarters exaggerate the claims to serve their own agendas, the more reasonable and sober estimates nonetheless suggest that the magnitude of smuggling exacts a significant cost to society.

Reformers acknowledge that the very weakness of our institutions abets tax evasion. Much still has to be done in designing or reformulating the rules and policies to curb tax evasion, including smuggling.

Having laws, even laws with harsh penalties, does not guarantee success in defeating tax evasion. Take the case of the Anti-Agricultural Smuggling Act (Republic Act 10845). It imposes the penalty of life imprisonment and a fine equivalent to twice the fair value of the smuggled product on top of the payment of the taxes, duties, and other charges. Yet, this law, which was passed in 2015, has not deterred rampant large-scale smuggling of agricultural goods. It is a law that has merely become “ink on paper.”

Republic Act 10845 is being amended but mainly to include illicit tobacco products (including manufactured cigarettes, which legally and technically are not agricultural goods) in the list of goods to be covered by the anti-smuggling law.

We do hope that the amendment of the law will not lead to having more ink on paper. The key is to put in place credible, effective enforcement measures that will make likely or more probable the capture or arrest of those engaged in illicit trade.

It is against this difficult background that we will miss Willie Parayno, Jr. who died on Aug. 2.

Willie was the head of the Bureau of Customs (BoC) during the Fidel Ramos administration. He also became head of the Bureau of Internal Revenue (BIR) for three years under the Gloria Macapagal Arroyo administration. He however resigned as BIR Commissioner as a matter of principle in the aftermath of the “Hello Garci” scandal, which allegedly implicated then President Arroyo in the rigging of the 2004 presidential election. Though non-partisan, Willie’s conscience made him join several Cabinet Secretaries and heads of other government agencies (known as the Hyatt 10) who resigned from the tainted Arroyo administration.

Willie was the embodiment of the silent reformer who designed and implemented measures in the BoC and BIR that yielded dramatic results. His legacy should inspire current and future reformers.

Years ago, I wrote columns about Willie’s sterling record. In “Tax Challenge” (BusinessWorld, May 31, 2010), I said that “the momentum for reforms petered out after the principled resignation of Guillermo Parayno, a competent and credible reformer.” Similarly, in “The Truth about Gloria’s Economics” (BusinessWorld, Jan. 16, 2016), I said that “the reforms undertaken by the resigned BIR head, Guillermo Parayno, have been sidetracked.”

What were Willie’s reforms? I narrated some of them in “BIR Reforms: Welcome Success Story for 2003” (BusinessWorld, Feb. 2, 2004).

Willie was a pioneer in the use of information technology (IT). IT was his tool as far back as the 1990s when he headed BoC. Through IT, our revenue-collecting agencies disseminated information to the public, facilitated payments, improved taxpayer compliance, and enhanced transparency.

Willie, too, forged a close partnership with the private sector and civil society to advance “Good and Honest Governance Programs.” The close partnership was done in a manner that the BIR kept arms-length transactions with private parties.

Further, Willie introduced innovation in tax administration. For example, he rolled out “BIR on Wheels” to reach out to hard-to-tax professionals. He was likewise able to get the cooperation of the informal sector like the tiangges through convenient and light ways of tax compliance.

Most critical was how Willie obtained the support of the rank and file, perceived by many (unfairly though) as corrupt. Instead of demeaning and demoralizing the employees, Willie rejuvenated them, and encouraged teamwork towards adopting systems to meet goals and targets.

I cut and paste what I wrote then:

“Mr. Parayno’s specific attributes have served him well in making BIR a success story for 2003. As an engineer, he is very thorough with the processes and systems, but does not lose sight of the general goals. As a psychologist, he knows how to combine carrots and sticks. As a military strategist, he waits for the opportune moment to attack and does not fear taking a tactical retreat. And as a technocrat, he has disdain for political partisanship. He will not use the office to promote the incumbent or to demolish the opposition.”

Although what I wrote about Willie focused on his BIR accomplishments, they were in fact an extension or a continuation of what he did at the BoC. During his stint at the BoC, the agency exceeded targets and had surplus collection. Willie had things done through innovation, automation of processing, and simplification of rules. He earned the sobriquet: “father of computerization.”

He inspired his people at the BoC and BIR, and he made the revenue-collection agencies gain the trust of the public. Some of his followers regard him as the “best Commissioner.”

His various colleagues describe Willie as having competence, integrity, and brilliance. Such a combination of characteristics is rare. And let’s not forget Willie’s vision and love for country. He was magiting — courageous, patriotic, and heroic.

He lived up to the name of his Philippine Military Academy class, the Magiting Class of 1970.

The stories about Willie must be told to different generations of reformers. As former BIR Commissioner Kim Henares said, the goals that Willie envisioned and the reforms he pursued remain a work in progress. And it is our task to continue Willie’s work in progress.

 

Filomeno S. Sta. Ana III coordinates the Action for Economic Reforms.

www.aer.ph

Private equity firms turn to left-field financing for deals

PRIVATE EQUITY FIRMS are turning to a new weapon to help them get their buyouts over the line: less-than-conventional funding.

Mergers and acquisitions (M&A) activity has slumped this year in part because spiraling interest rates have made traditional private equity (PE) investors nervous about leveraged acquisitions. Buyout firms are increasingly using expensive subordinated debt — also known as junior financing — to help fill funding gaps and get deals done.

HPS Investment Partners provided $600 million of preferred equity, which sits below other debt in the queue for repayment, to support GTCR’s recent purchase of a majority stake in Worldpay, Inc., according to people close to the matter who asked not to be identified because the talks are private. The funding came on top of a $9.4-billion debt package backing the deal.

HPS also provided up to €300 million ($324 million) of payment-in-kind (PIK) debt — which defers interest payments for a period of time — as part of a €1.5-billion debt financing of One Rock Capital Partners’ buyout of packaging material maker Constantia Flexibles GmbH, the same people said.

“From larger companies to those in the lower-mid market, there are many more discussions about junior financing — whether that’s HoldCo PIK, mezzanine or preferred equity,” says Alex Griffith, a partner at law firm Proskauer Rose. “HoldCo PIK used to just be an additional slug of money up front to get a deal over the line. Now, people are realizing it solves many different issues.”

OPPORTUNITY KNOCKS
Junior financing is becoming popular, too, for specialist lenders attracted by returns that can run as high as 15% or so. Oaktree Capital Management, alongside its dedicated mezzanine funds, is looking to raise more than $18 billion for what would be the largest private credit fund. It will pursue opportunistic investments. HPS recently closed a junior debt fund with $17 billion of capital available.

“For lenders, it’s riskier and you’re not secured in the same way as a senior creditor, but you can generate much higher returns,” says Aymen Mahmoud, co-head of the finance, restructuring and special situations group in London for law firm McDermott Will & Emery. “A $250 million PIK instrument, which compounds at market rates would be worth 50% more in principal within five years.”

PIK debt typically pays about 125-150 basis points above senior debt and preferred equity pays around the mid-teens on average, according to several bankers. For buyout firms, that may be a price worth paying if it lets a deal go ahead in a moribund M&A market.

Traditional lenders have been lowering the amount of leverage — the debt a company has versus its earnings — that they’re prepared to provide for buyouts. At the same time, the large limited partners that usually co-invest alongside PE firms have become less willing as the M&A slump means they’ve been getting less cash back from previous bets.

Subordinated debt can also be used by private equity firms to refinance the existing borrowings of portfolio companies. Higher rates and lower earnings threaten to make it impossible for some businesses to keep paying interest on the same amount of debt, but PIK lets them delay repayments so it doesn’t immediately strain cash flow.

“It’s all economics,” says Mr. Mahmoud. “If the numbers work for junior financing when the private equity firm models it, it can be helpful as even this expensive debt is cheaper than equity. But it only really exists as an option for high-quality credits where extending leverage makes sense.” — Bloomberg

Global warming link to intense rains in India’s Himalayas

REUTERS

NEW DELHI — Torrential rains that have battered India’s Himalayas in recent years, killing hundreds of people and causing billions of dollars worth of damage, are becoming more intense due to a clash of weather systems triggered by global warming, scientists said.

At least 240 people have died this year in the mountainous region as landslides and flash floods triggered by heavy rains buried homes and destroyed crops and infrastructure. Seasonal monsoon showers are vital for India’s $3-trillion economy, bringing nearly 70% of the rain the country needs to water farms and refill reservoirs and aquifers.

But the monsoon’s convergence with a low-pressure weather system in the Himalayas in recent years has caused extremely heavy rains, something that scientists and officials have blamed on rising temperatures.

“Think of it as a collision of two forceful systems,” said Kuldeep Srivastava, head of the India Meteorological department’s regional center in New Delhi. “It causes significant rain, or even cloudbursts … we are noticing in the last few years, intense spells of rain lasting short durations,” he said, adding that this was due climate change driven by global increase in temperatures.

The number of very heavy to extremely heavy rainfall days per decade in India’s Himalayan states of Himachal Pradesh (HP) and neighboring Uttarakhand increased to 118 between 2011 and 2020 from 74 in the preceding decade, data from the weather office showed.

At least 166 people have died in HP and 74 in Uttarakhand this year since June in landslides, flash floods and other rain-related incidents, according to government data.

Rains battered the two states following the convergence of the monsoon system with Western Disturbances, a weather system that originates in the Mediterranean Sea and moves east, bringing moisture-laden winds that cause winter rain and snow in the Himalayas.

Western Disturbances usually pass north of India’s northern border between the summer and monsoon months of June and October, but, as temperatures rise, some of them move slightly south, said V.P. Dimri, director of the Indian Institute of Geomagnetism.

“Because of sea surface temperature warming, the Western Disturbances have more energy … similarly, general warming of the earth is also leading to change in wind motions,” he added.

Monsoon rainfall patterns across India have seen a climatic shift in the recent decades, said Roxy Mathew Koll, a scientist at the Indian Institute of Tropical Meteorology.

“The most significant change is that instead of having moderate rains spread out through the monsoon season, we have long dry periods intermittent with short spells of heavy rains,” Mr. Koll said. — Reuters

Warner Bros. delays Dune, Lord of the Rings films due to strike

Timothée Chalamet in a scene from Dune. — IMDB

LOS ANGELES — The Warner Bros. movie studio will delay the planned November release of a big-budget Dune sequel until March next year, a studio spokesperson said on Thursday, because its stars cannot promote the movie during the Hollywood actors’ strike.

The decision deals a blow to cinema chains such as AMC Entertainment, Cineplex, and Cinemark which are still trying to recover from the COVID-19 pandemic. Dune was one of the most anticipated films on the late 2023 schedule.

Dune: Part Two will now debut on March 15, a date that had been reserved for Warner Bros. film Godzilla x Kong: The New Empire. The monster movie was shifted to April 12.

As a result, an animated Lord of the Rings film that had been set for April was moved to December.

Dune: Part Two stars Zendaya and Timothée Chalamet in a sci-fi sequel based on Frank Herbert’s 1965 novel about an intergalactic battle to control a precious resource. The first installment, released in 2021 during the pandemic, generated $402 million at global box offices.

Top stars have refused to promote upcoming projects since the SAG-AFTRA actors union joined striking Hollywood writers and walked off the job on July 14.

The actors’ strike has prompted other movie studios to adjust film schedules in the absence of celebrities to hit red carpets or talk shows to help build buzz.

Sony Pictures altered the release strategy for Dumb Money, the film inspired by the story of everyday investors who outwitted Wall Street investors and got rich on the stock of videogame and electronics retailer GameStop.

The film was originally scheduled to open nationwide on Sept. 22, though the studio adopted a more gradual release strategy to generate interest from audience reactions. The film will now open on a limited number of screens in New York and Los Angeles on Sept. 15 before expanding across the country on Oct. 6.

Overall moviegoing this year remains below pre-pandemic levels despite the major boost this summer from the “Barbenheimer” frenzy around the films Barbie and Oppenheimer.

Other major films on the 2023 schedule at the moment include Walt Disney’s The Marvels, a Lionsgate prequel to The Hunger Games, and Wonka, another Warner Bros. film that also stars Mr. Chalamet.

The strike by the Writers Guild of America (WGA), which began on May 2, has shut down most production of scripted televisions shows and some movie shoots. — Reuters

EVAP and AFEVA visit VinFast execs in Vietman

From left are VinFast Head of Commercial Partnerships Pham Hoang Hai, VinFast Head of Government Relations and Public Affairs Ly Nguyen, Electric Vehicle Association of the Philippines (EVAP) President Edmund Araga, EVAP Chairman Emeritus Ferdi Raquelsantos, Electric Vehicle Association of Malaysia President Dato Dennis Chuah, EVAP Chairman Rommel Juan, and Philippine Commission Trade Attache for Vietnam Enrico Mariano. — PHOTO FROM THE ELECTRIC VEHICLE ASSOCIATION OF THE PHILIPPINES

THE ELECTRIC VEHICLE ASSOCIATION of the Philippines (EVAP) and the Association of Southeast Asian Electric Vehicle Associations (AFEVA) traveled to Hanoi, Vietnam recently to discuss with VinFast executives regarding the potential establishment of a Vietnam Electric Vehicle Association. VinFast is a leading Vietnamese automotive manufacturer at the forefront of electric vehicle innovation.

This meeting aimed to foster collaboration between nations and “push forward the collective vision of a sustainable electric mobility future in the region.” The delegation, led by EVAP President Edmund Araga and AFEVA Director and EVAM President Dato Dennis Chuah, included prominent figures such as EVAP Chairman Rommel Juan and EVAP Chairman Emeritus Ferdi Raquelsantos. Accompanying the group was Rico Mariano, the Philippine Commercial Counselor to Vietnam, who facilitated the dialogue between the delegations.

The Philippines’ EV industry was showcased by President Edmund Araga, who presented the current state and exciting prospects of electric vehicles in the country. EVAP Chairman Rommel Juan explained the lucrative incentives embedded within the Electric Vehicle Industry Development Act (EVIDA) law, providing a comprehensive overview of the legislation’s provisions. And Chairman Emeritus Ferdi Raquelsantos shared the additional incentives associated with the production of e-jeepneys, underlining the extraordinary potential that lies in the shift towards electric mobility solutions.

On the VinFast side, its executives participated in the discussions – elaborating on the cutting-edge advancements in electric vehicles that have taken place in Vietnam and transcended international boundaries.

The discussions held great significance in light of the potential formation of a Vietnam Electric Vehicle Association, which would become a vital member of the AFEVA family. This collaboration not only seeks to strengthen regional ties but also promote the exchange of knowledge, technology, and best practices among Southeast Asian countries. As part of the growing cooperation, VinFast executives expressed their keen interest in participating in the upcoming Electric Vehicle Summit in the Philippines. Scheduled from October 19 to 21 at the SMX Convention Center, this summit will “gather the brightest minds and key stakeholders from the electric vehicle ecosystem to deliberate on the latest trends, innovations, and challenges in the industry.”

House of Investments incurs net loss

YUCHENGCO-LED House of Investments, Inc. (HI) incurred a net loss in the second quarter, further expanding its year-to-date loss, after the disposal of its investment in the construction sector.

In a stock exchange disclosure on Aug. 22, the company said its net loss during the April-to-June period was at P303.81 million, a reversal of its P216.95 million net income a year ago.

HI registered a negative bottom line despite a rise in revenues to P2.42 billion from P2.25 billion last year.

For the first half, HI suffered a net loss of P369.76 million, reversing the P789.54 million net income recorded last year, citing the effects of the divested construction business.

“Due to the effect of the disposal of investment by the parent company in construction, coupled with losses incurred by the former subsidiary prior to divestment, the group posted a net loss of P369.76 million as of the period,” the company said.

In April, HI announced that it had sold 20% of its investment in listed construction subsidiary EEI Corp. to the Romualdez-led RYM Business Management Corp. for P1.25 billion.

The company in May sold another 14.346% of its stake in EEI to Industry Holdings and Development Corp. for about P1.08 billion.

HI’s revenue in the first half reached P5.15 billion, up 18% from P4.37 billion in the same period last year.

“Revenue from services grew by 71%, which is mainly attributable to the expansion of the leasing business of the group. Likewise, vehicle sales have improved which resulted to higher revenues from goods. Due to higher enrollment, the education sector showed a 17% growth compared to last year,” HI said.

HI’s core businesses are car dealership, construction, education, and property management services. It has portfolio investments in pharmaceuticals, energy, and death care.

Shares of HI at the local bourse were last traded on Aug. 22, when it closed at P3.82 apiece. — Revin Mikhael D. Ochave

Passive Voice vs Active Voice in Pilipino

On Aug. 18, the Department of Linguistics in the College of Social Sciences and Philosophy of the University of the Philippines (UP) Diliman launched its Archive Classics series, reprints of “monumental work in Philippine linguistics that paved the way for research in the field, and continue to influence current studies on Philippine languages.”

The first such monumental piece is Otto Johns Scheerer’s 1932 paper titled, “Sagen de Atayalen auf Formosa (Legends of the Atayal people on Formosa),” originally published in the 1932 issue of Zeitschrift fur Eingeborenen-Sprachen, a German periodical.

Otto Johns Scheerer came to the Philippines in 1882 and worked for some private German firms in the country before he served in various high positions in the local government. In his later years, he taught German at UP and was the Linguistic Department’s second Chair (succeeding Dr. Trinidad H. Pardo de Tavera) until he retired in 1929 as the first Professor Emeritus of Philippine Linguistics. It was during an immersion trip to Japan in 1930 that he researched on the Atayal people on Formosa, then an island of Japan.

Thus it is most fitting that Scheerer’s first published work should be the first in the maiden issue of Archive Classics, the official journal of the UP Linguistics, which is a revival of Scheerer’s The Archive, which collated the research of his students in his time. The German Embassy in Manila funded the professional English translation by Dr. Markus Locker of the Loyola School of Theology, Ateneo de Manila University, of “The Legends of the Atayal” and its publication (a bi-lingual German-English edition), by the UP Department of Linguistics.

At the Archive Classics launch, Dr. Richard Scheerer spoke about his grandfather, Otto Scheerer, and his “Academic Journey in the Philippines.” There was a subliminal message of love of country in the recounting, by this member of the third generation, of Filipino cultural and social history through the mind and heart of a German emigrant, Otto, who found refuge and acceptance by the Filipino people. Yes, the old legends of the Atayals told of a nation’s birth and freedom just as many small nations, including the Philippines, were fighting for independence in those turbulent times. Germany, Otto’s home country, was undergoing horrifying social, political, and economic upheavals before World War II exploded.

O. Scheerer pointed out linguistic similarities between Atayal and the Filipino language, predominantly Tagalog, and the other major Philippine languages — Iloko, Pampango, Pangasinan, Bikol, Bisaya, Ibanag, Batan and Naboloy. Words like “bato” (stone), balay (house), dakal (meaning “big” in Pampango and Iloko “dakel”); nano (Pampango “that” or “what”) and the article “na” (Tagalog na meaning “the”) are almost identical. Many verbs and action words sound so like the Filipino words with the same meaning, like “bigan ta” in the telling of the Atayal legend, which means “give gift” like the Tagalog “bigyan kita.”

But what was more thought-provoking was from the slide presentation of Dr. Richard Scheerer on his grandfather Otto’s analysis of the linguistic similarities between the Atayal and the Filipino languages — that the passive voice seems to be instinctively used in verbal communication, which is generally true in Malay and Austronesian languages. “One of the most interesting phenomena with regard to the expression and use of the Passive is presented by the languages of the Philippine Islands” — wrote Otto Scheerer, quoting H.C. von der Gabelentz’ 1863 paper, “Das Passivium.” O. Scheerer, in a 1924 paper, reiterated that “The essential difference between the verbs of the Europeans and the Philippine languages is the use of the Passive Voice… The Favorlang (a now extinct language from the west coast of Taiwan) in Formosa comes closest to the Filipino languages in terms of the formation and use of passive forms, specially as it has, like them, a triple passive form…”

Dr. Richard Scheerer clarified that “Triple passive refers to a language that has three ways to turn a verb stem into passive voice, using such affixes as an, in, i, etc. (i.e., tinapon, kinain). Example: a.) active voice = John threw the ball; b.) passive voice = The ball was thrown by John, c.) Tagalog passive = Tinapon ni Juan ang bola.”

He cautioned about “a misuse of the linguistic term ‘Passive Voice.’ It does not mean that the speakers are passive. Some of the fierce aboriginal tribes in Australia and New Zealand use the passive voice. The old thinking about the passive voice is that the speakers were not mentally sophisticated. That attitude is no longer accepted by modern linguists.”

But to an intuitive grammarian like this writer (an English major in baccalaureate degree), the use of the passive voice, even in a simple declaratory sentence, can convey nuances of approval or disapproval, perhaps even reaction to one’s situation and the actions of others. Take for example the declaration in the Active Voice, “The dog bit the man” — so what? But when declared in the Passive Voice, “The man was bitten by the dog,” the subject “man” is the receiver of the action — pity the man; bad dog!

Could it be that the predilection of the Filipino and, similarly, its Austronesian neighbors for the Passive Voice in its indigenous poems and songs somehow keep vestiges of the angst of being victim to the dominance of others? “The Legends of the Atayal” tells of the obstacles and travails of the people oppressed and threatened by a monster. They are helped by the deity to “cross the river” (symbolic of freedom) to escape, and to ensure that the deity will continue to protect them, they ask the crow (all talk, no action) and the bird (action agad) to compete for the post of mediator. The bird wins. He will be the Active Voice to the people’s Passive Voice.

“Florante at Laura,” written by Francisco Baltazar, who was known as “Balagtas,” is an “awit” (song/poem) for freedom, like “The Legends of the Atayal.” The poem was actually written while Balagtas was serving time in a Manila prison, beginning around 1835 or 1836, and published in 1838 after his release. Though the storyline of “Florante at Laura” was autobiographical to Balagtas’ problematic love for his own “Selya” (Maria Asuncion Rivera), the metaphors and similes, apostrophes and figures of speech that abound in the poem loudly whisper of the pains of an oppressed people crying out for freedom from the foreign colonizers. Much of traditional romantic literature is in the Passive Voice of the victim and sufferer.

The conflict in Balagtas’ “awit” was resolved (Passive Voice) in the happy ending of Florante and Laura getting married, a double-wedding with the Muslim prince Aladin and Flerida (a sub-plot for the Muslim-Christian conflict) being baptized in the Christian faith. Deus ex machina. God speaks always in the Active Voice.

But perhaps the passivity of the Filipino is most evident in the “bahala na” attitude towards conflict. Passivity is complacency. “Bahala na” or “God (Bathala) will take care of it” is the perverted over-reliance of Christian trust in God that self-justifies inaction and indifference, even against oppression, prejudice, and the transgression of human rights by those in ascendancy of power and influence in mundane life. Where is the groundswell of protest against the evident disarray of moral values and the blatant corruption in government and society today? Bahala na!!

But “God only helps those who help themselves,” Benjamin Franklin said in his popular magazine for day-to day living in colonial America, Poor Richard’s Almanack (1736). Written in the Active Voice.

 

Amelia H. C. Ylagan is a doctor of Business Administration from the University of the Philippines.

ahcylagan@yahoo.com

Canada probing Hugo Boss, Walmart over allegations of forced labor

OTTAWA — Canada’s corporate ethics watchdog on Thursday announced investigations into the Canadian units of Walmart and Hugo Boss over allegations of Uyghur forced labor in the companies’ supply chains and operations.

Both companies denied the allegations.

The Canadian Ombudsperson for Responsible Enterprise (CORE) said it had published an initial assessment report after complaints filed by a coalition of 28 civil society organizations in June 2022.

CORE will also investigate the Canadian unit of fashion firm Diesel, which is owned by Italy’s OTB. It has already launched probes into Nike Canada, Dynasty Gold, and Ralph Lauren.

“As mediation between the parties is not currently an option, we will be launching investigations into the allegations outlined in these reports,” Sheri Meyerhoffer, CORE’s Ombudsperson, said in a statement.

Walmart Canada said it did not tolerate forced labor of any kind in its supply chain.

“None of the entities in the complaint are in our active disclosed supply chain,” it said in a statement.

Hugo Boss said “the allegations are without any basis.” In an e-mail, the company said it no longer received supplies from a Chinese firm that CORE had expressed a concern about.

In March, a UN committee said it was concerned about China’s treatment of its Muslim minority, including the use of forced labor against Uyghurs. China denies the allegations.

CORE was launched in 2019 to monitor and investigate human rights abuses, mainly by Canadian garment, mining and oil and gas companies operating abroad. — Reuters

Hong Kong’s long sushi queues show few worried by Japan’s wastewater release

REUTERS

HONG KONG —  Long queues at sushi restaurants in Hong Kong backed up the statements of many who said they were not worried about the release of treated radioactive water from Japan’s Fukushima nuclear plant and would continue to visit Japanese restaurants.

More than 20 customers had gathered in the Sheung Wan district of the Asian financial hub awaiting the 10:30 a.m. opening time of a conveyor-belt sushi chain, Sushiro, while dozens streamed in by 12 p.m., despite a wait time of an hour.

“I don’t feel too concerned about radiation,” said one of those in the queue, 22-year-old Verita, who gave only one name. “Moderation is key in everything, right? Occasionally dining out (for sushi) … shouldn’t pose a significant risk.”

Hong Kong’s ban on seafood imports from 10 Japanese regions began on Thursday, with authorities saying it was a precaution to safeguard public health.

Japan started its discharge the same day into the Pacific Ocean, a polarizing move that provoked fresh, fierce criticism from China that it was “selfish and irresponsible.”

The Chinese-ruled city is permitting food imports from 13 other Japanese regions but they face strict tests and monitoring, with daily radiation levels published online, the government said.

Japan’s second-largest market for farm and fisheries exports after mainland China, Hong Kong has numerous popular Japanese restaurants, while the country is a favorite holiday destination for many.

Mainland China said it had suspended imports of all aquatic products originating from Japan. In Hong Kong supermarkets on Friday, sashimi and seafood were clearly labeled with their places of origin, showing that many such items came from Argentina, Canada and Norway.

Billy Tse, 20, who was lining up for his sushi “fix,” said Hong Kong people may already be consuming water with some kind of contamination from China’s own nuclear emissions. 

“I personally wouldn’t worry about issues like eating raw seafood from Japan,” he added. “Even if Japan discharges nuclear wastewater, I would still come here to dine.”  — Reuters

1...2,8602,8612,862...12,689Page 2,861 of 12,689
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube