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Buying trend for healthy consumer products to continue, says Kantar

THE PURCHASE of healthier fast-moving consumer goods (FMCG) is seen continuing despite rising prices, marketing data and analytics company Kantar said in an online briefing on Thursday.

Marie-Anne Lezoraine, managing director for Kantar Philippines Worldpanel Division, said that she expects the buying trend to continue, “but it is something that shoppers have to balance on a daily basis.”

“What we found is that during the pandemic, people have become much more aware [of] the role of nutrition in immunity. We saw that it had an impact on what people were purchasing,” Ms. Lezoraine said.

Kantar reported that 72% of Filipino consumers are seen prioritizing the purchase of healthier FMCG products.

The report also said that an estimated 99% of Filipino shoppers see being healthy as important, while 97% say that buying health products is important for the family.

“Purchase power, inflation, and affordability of products will be a key consideration,” she added.

For November, headline inflation slowed to 4.1% from 4.9% last month and 8% in the same period last year, according to the Philippine Statistics Authority.

Ms. Lezoraine added that residents of the National Capital Region were seen purchasing more, by 84%, healthier food compared with those in Mindanao at 55%.

She said health remains a priority for most Filipino shoppers despite inflation or global uncertainties.

“What comes through is that… [it] is the reflection of a personal concern for the family… or it is an impact of the pandemic,” she added.

Kantar also reported that socioeconomic status does not seem to make a big impact on families’ consistency in purchasing healthy grocery items.

About 77% of the upper class (ABC) were seen buying healthier products often, followed closely by class D (70%) and class E (75%).

Kantar’s study gathered 1,200 respondents from February to April. “Filipino shoppers have expressed their desire to choose healthy and to buy healthy. Knowing why health is important and how shoppers define healthy grocery items will help brands develop or expand product lines to cater to these motivations and shopping practice,” Ms. Lezoraine said. — Adrian H. Halili

Peso may stay at P55 level

BW FILE PHOTO

MUFG Global Markets Research sees the peso staying at the P55-per-dollar level until the end of 2024 amid easing inflation, a narrowing trade deficit and faster economic growth last quarter.

“We now forecast the peso-dollar rate at P55.40 in three months and P55 in 12 months. This continues to imply some underperformance against other Asian FX (foreign exchange),” it said in a report on Thursday.

It previously saw the peso trading at the P57 level until next year.

MUFG Global Markets Research now sees the peso ending the second quarter of 2024 at P55.30 and the third quarter at P55.20.

On Thursday, the local unit closed at P55.30 per dollar, strengthening by less than a centavo from its P55.305 finish on Wednesday, Bankers Association of the Philippines data showed.

Year to date, the local currency strengthened by 45 centavos from its P55.755 close on Dec. 29, 2022.

“On the domestic front, we saw a few positive developments. First, inflation is trending downwards with lower food prices, albeit still sticky and subject to the vagaries of supply-side shocks,” MUFG Global Markets Research said.

Headline inflation slowed to 4.1% in November from 4.9% in October and 8% in the same period last year.

Year to date, inflation averaged 6.2%, faster than 5.6% in the same period in 2022 and above the central bank’s 2-4% target.

MUFG Global Markets Research added that its outlook for the peso is supported by a narrowing trade deficit amid lower oil prices, weak capital goods imports, and modest rebound in electronics exports.

Still, the trade deficit is “expected to remain large at 3% of GDP (gross domestic product) although narrowing from above 4% previously, with a pickup in infrastructure imports offsetting lower oil prices,” it said.

The trade gap shrank by 27% year on year to $3.51 billion in September from the $4.83-billion deficit recorded in the same month last year. It was also smaller than the revised $4.13-billion deficit in August.

The faster GDP growth seen in the third quarter also supported its outlook for a stronger peso, MUFG Global Markets Research said.

The Philippine economy grew by 5.9% in the third quarter, faster than 4.3% in the second quarter and 7.7% a year earlier. Year to date, GDP growth averaged 5.5%, below the government’s 6-7% target for the year. — AMCS

Safeguarding local communities against disasters

PHILIPPINE STAR/EDD GUMBAN

IN THE PAST DECADES, climate change has increased the frequency and intensity of natural hazards across the globe. Consequently, its impacts have also exacerbated the Philippines’ vulnerability to disaster risks. Estimates gathered by the World Bank show that 60% of the country’s land area and 74% of its population are exposed to flooding, earthquakes, droughts, and other hazards. In 2021 and 2022, damage due to extreme events and disasters cost the country $1.12 billion and $545.7 million affecting 3.63 million and 3.47 million families, respectively, according to the Philippine Statistics Authority.

In every region or province, the impacts of disasters and climate change vary across communities. Location, particularly the proximity to volcanoes, rivers, and seas, is one determining factor. The cost of disasters to this country is a massive burden on peoples’ security and well-being. Local governments and communities bear the heaviest brunt, repeatedly hitting hardest at the poor and most vulnerable.

No less than the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) at COP28 has underscored the urgency for climate action. This year, 2023, has been the hottest on record. The climate crisis needs accelerated response, funding, stronger partnerships, and commitments translated into concrete results, focusing on the most vulnerable.

But help comes from within. Local government units, community leaders, and civic groups serve as frontliners for response efforts, providing basic needs and the means to bring families to safety. Communities are the champions of one another. With their firm handle of the social, political, and environmental realities that will impact their safety and wellbeing, local actors know how to rise above calamities. However, they can only do so much when the threat of disasters persists.

The Strengthening Institutions and Empowering Localities against Disasters and Climate Change or SHIELD Program recognizes the agency and the innate resilience of local actors.

With support from the Government of Australia and implemented by a consortium of partners with the United Nations Development Program (UNDP) in the lead, SHIELD targets to harness the potential of the most vulnerable provinces and regions to ensure their ability to respond to and rebuild from disasters at the needed breadth and scale. Through multi-stakeholder partnerships, SHIELD aims to combine indigenous knowledge and on-the-ground evidence with national-level capabilities and the science of risk-informed decision making.

Interventions to build local resilience under SHIELD will benefit from guidance and expertise from national agencies, with the Department of the Interior and Local Government as the lead agency providing strategic direction and coordination assistance to the focus local government units (LGUs). The Department of Science and Technology will capacitate communities to generate disaster risk information to inform their development planning, while the Office of the Civil Defense will provide recommendations based on policies and protocols for disaster preparedness.

One of its envisioned outcomes is helping its partner LGUs build capabilities to better assess and manage risks within their localities, and eventually, unlock available resources from both local and international climate financing facilities such as the Green Climate Fund and the country’s very own People’s Survival Fund. Efforts will also be pursued towards innovative private sector financing, such as green bonds and microinsurance solutions.

Through its partners from government, civil society, and the international community, the initiative seeks to link local governments to access supplementary funding for innovative and evidence-based response to emergencies such as early warning systems, improve the promotion of industries that create green jobs such as ecotourism, and prepare bankable proposals for disaster risk reduction and management activities.

Through its consortium partners, SHIELD is also providing micro, small, and medium enterprises with knowledge on value chain analyses and business planning to ensure they continue to operate and earn even during disasters.

Resilience is everyone’s business — and it is built upon strong partnerships and empowered communities. By combining their collective strengths, forging strategic partnerships, and building a solid evidence base to translate their innate capacities to action, communities have the power to lead one another towards progress that towers over vulnerabilities and, hence, excludes no one.

 

Dr. Selva Ramachandran is the UNDP Philippines resident representative.

Blackpink agency shares skyrocket after K-Pop stars renew deals

YG ENTERTAINMENT, INC. said all four members of Blackpink renewed their contracts with the K-pop agency, dispelling concerns over the band’s continuation after their terms expired in August.

Shares in the Seoul-based artist promoter finished 26% higher on Wednesday, their biggest daily jump since a first-day pop when it went public in 2011. YG Plus, its content production affiliate, shot up 24%. Blackpink plans a new album and a world tour with YG, the agency said in a statement. Wednesday’s gain puts the agency — now the smallest among the four major Korean music labels — at $857 million in market value.

Other K-pop stocks also rose after the news. BTS label Hybe Co., the biggest K-pop stock with about $7.2 billion in market cap, rose 7.3% while smaller JYP Entertainment Corp. also advanced.

Blackpink, a four-member K-pop band that debuted in 2016, became the world’s most popular girl group with their songs setting records on the Billboard charts with hits like “Shut Down” and “Pink Venom.” The band became the first K-pop headliner at Coachella and their biggest global tour was sold out this year.

“We are more than thrilled to finally make an official statement that YG will continue the intimate relationship with Blackpink,” YG Entertainment founder Yang Hyun-Suk said in the statement. “As the group represents YG and K-pop itself, they will certainly endeavor to shine brilliantly in the global music market.”

The news ends months of uncertainty around YG’s hold on some of its highest-earning artists. Before the announcement, YG’s shares plunged almost 50% from its May peak amid rumors that Blackpink member Lisa might leave the group. Top artists’ contracts are a source of price volatility for K-pop agencies, which rely heavily on a handful of key artists for revenue.

YG did not disclose the details of each member’s contract, including whether it will retain management of side gigs such as solo projects, luxury brand promotions, or acting for Hollywood studios.

Play Video

Still, Blackpink’s contract renewal resolves one of the main questions that’s weighed on K-pop stocks and sparked stock selloffs, according to Suh Bokyung, a senior analyst at Sanford C Bernstein. “This serves as a signal that investors can have an upbeat outlook on the K-pop industry in 2024.” — Bloomberg

NLEX Corp. seeks toll fee hike from regulator after interchange completion

NLEX Corp., a unit of Metro Pacific Tollways Corp. (MPTC), has applied for an increase in toll fee after the completion of the Magsaysay Interchange, its president said.

“We already filed the petition. It is being evaluated by the TRB (Toll Regulatory Board). It will take the same process [and] the same evaluation so that they can determine whether the fractional toll is reasonable,” NLEX Corp. President and General Manager J. Luigi L. Bautista told reporters on the sidelines of a forum last week.

The company opened the NLEX Connector section 2, beginning from España Boulevard to Magsaysay Section on Oct. 28, data from the company’s website showed.

Currently, the tollway company retains the current discounted rate of P86 for the NLEX Connector, Mr. Bautista said. Once approved, the toll fee will increase to P120, he added.

BusinessWorld sought comments from TRB on the status of the application but it has yet to respond as of press time.

The opening of the additional 1.8-kilometer four-lane NLEX Connector helped ease traffic congestion by cutting the travel time from C3 Road in Caloocan to Magsaysay Boulevard in Manila to eight minutes.

Overall, the NLEX Connector has three interchanges in C3 Road/5th Avenue in Caloocan, España and Magsaysay Boulevard in Manila.

MPTC is the tollways unit of Metro Pacific Investments Corp., one of three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

Hospitals may harness AI to deal with nurse shortage

PHILIPPINE STAR/ MIGUEL DE GUZMAN

By Beatriz Marie D. Cruz, Reporter

TAIPEI — Artificial intelligence (AI) could help hospitals manage the shortage of nurses in the Philippines, a hospital industry executive said.

“Temporarily, that may be one of the solutions for the lack of nurses. (If) you don’t have night staff to provide information, for instance, you can use AI,” Jose Rene D. de Grano, president of the Private Hospitals Association of the Philippines, Inc., told BusinessWorld on the sidelines of the Healthcare+ Expo in Taipei.

Mr. De Grano said he toured a hospital in Taiwan with one nurse attending to up to 20 patients, who usually require nurse staffing of three to five, with the help of AI.

Possible AI applications include answering inquiries and dispensing medication, he said. The real-time monitoring of multiple patients can also be performed with the aid of Radio Frequency Identification systems.

At the Expo, ASUSTek Computer, Inc. (ASUSTek) demonstrated its health tracker watch, known as VivoWatch, which it plans to distribute more extensively across global markets next year as a tool to help healthcare professionals track patient activity and make diagnoses, according to ASUSTek Associate Vice-President for Product Marketing Pei-Wen Hsu.

“Before, when you go to the doctors, doctors always ask you, oh, do you sleep well? Did you take medicine? But if you have this data that can connect through the cloud, the doctor can check the data and to compare it to the chart at the hospital,” Ms. Hsu told BusinessWorld, also on the sidelines of the expo.

The new VivoWatch integrates electrocardiogram (ECG) sensors to help diagnose certain heart conditions, as well as Photoplethysmography (PPG), which detects blood volume changes.

ASUSTek is also promoting its speech recognition transcription application, Agility, to help healthcare professionals record checkups with patients faster.

“For example, I’m the patient and the doctor has a question for me. The speech recognition function can record what I’m saying,” Ms. Hsu said.

Citing the Taiwan government’s New Southbound Policy, ASUSTek is considering future market expansion in the Philippines, according to Ms. Hsu.

NURSE MIGRATION
Philippine hospitals have now fully accepted the inevitability of nurse migration, Mr. De Grano said.

“That is the thinking of the new generation of nurses… they still want to go out,” he said in Filipino. “We’re not against that because it will improve our economy… and the quality of life of our nurses.”

Jose P. Santiago, Jr., incoming president of the Philippine Hospital Association, said nurses are also attracted to countries with strong education systems for the sake of their children.

“I have interviewed several nurses, mostly single mothers… they want to leave because they want to provide a better education to their kids. They also consider their families when they migrate,” he told BusinessWorld separately.

Mr. Santiago said that a healthy working environment, subsidized post-graduate schooling, competitive salary, incentives, and training could help nurses stay in the Philippines.

Mr. De Grano noted that Cambridge-based Occupational English Test is set to conduct free English proficiency training in hospitals and medical schools especially for nurses who want to work in the United Kingdom.

“We agreed… we’ll (pursue such arrangements) in order to persuade our nurses to stay a while before they leave the country,” he said.

The Commission on Higher Education last year lifted the moratorium on universities and colleges seeking to open new nursing programs.

“We’re now really looking forward for better supply of nurses,” Mr. Santiago said.

Big dreams start with small steps: Colgate spreads the power of smiles, building a brighter future for the Philippines

Princess Espera with Colgate Maximum Cavity Protection

“Ang pangarap ko po paglaki ko ay maging nurse para po matulungan ko po ang mga tao para mabalik ko yung mga ngiti nila (When I grow up, I want to become a nurse so I can help people get their smiles back),” shares eleven-year-old Princess B. Espera who hails from Sorsogon Province. She is one of the millions of children who have been impacted by the Bright Smiles Bright Futures (BSBF)® program, which helped to inspire Princess’ professional aspirations and the path she wishes to follow in the future.

The program’s efforts to teach Filipino children the value of proper oral hygiene had a big impact on Princess. She began feeling more confident in expressing herself and socializing with her fellow classmates. Her dream to become a nurse was inspired by the program’s dedication to children’s smiles and their overall well-being. Princess also credits two incredible women, her mother Mary Grace Espera and her school nurse Dra. Olbez, who both serve as her role models and supporters in pursuing her dream.

Mary Grace Espera, together with her daughter, Princess Espera

Princess’s mother, Mary Grace Espera, instilled in her a degree of discipline when it comes to oral health. “Lagi kong tinuturo si Princess na magsipilyo para laging mapanatili ang malinis na ngipin. Importante ‘yan para healthy yung bibig niya (I always taught her to keep her teeth clean. It’s important that her mouth is healthy),” says Mary Grace Espera.

Dr. Wilma P. Olbez providing free dental services during the Bright Smiles Bright Futures event.

Princess recalls another important figure in her decision to be a nurse, Dr. Wilma P. Olbez. She was moved by Dr. Olbez’s commitment to assisting her classmates in maintaining good oral health.

“Naturuan po kami ng tamang pagsisipilyo at tamang oral hygiene sa ngipin. At lagi rin pong chine-check ang aming mga ngipin kada po may free vacant time si Doktora Olbez (Thanks to her, we learned how to properly brush our teeth and maintain good oral hygiene. And whenever she has free time, she always checks our teeth),” says Princess fondly.

Dr. Olbez believes it is crucial to teach children about the importance of oral health to improve overall well-being, as recent studies from the Department of Education reveal cavities are the main reason why kids miss school, significantly impacting their ability to learn.

Colgate continues to prove its commitment to ensuring a healthier and brighter future for children worldwide through their BSBF program, a global initiative dedicated to protecting the oral health of young children. In the Philippines, the program has reached 37,000 public schools and 700 daycare centers in 319 cities and municipalities over the course of 25 years, benefiting 40 million children nationwide.

Recently, Colgate returned to Sorsogon Province, one of the many long-standing partners of the BSBF program in the Philippines. Through the partnership, the province has been able to raise the number of orally fit children since 2015 — from a previous rate of 12%, the numbers have continued to rise, which is now at an 80% rate in 2022, according to the Field Health Service Information System report.

With this continuous partnership, Princess and numerous schoolchildren in Sorsogon are able to learn about the importance of a healthy smile in numerous facets of life.

“Hindi nakakatakot ang pagsipilyo ng ngipin! Ang Bright Smiles Bright Futures program ay nakatulong sa akin na mapagtanto na ang pagngiti ay nagdulot sa akin ng higit na kumpiyansa na ituloy ang aking mga pangarap. Sabay-sabay tayong ngumiti para sa magandang kinabukasan! (Brushing your teeth shouldn’t be scary! The Bright Smiles Bright Futures program helped me realize that smiling makes me more confident to pursue my dreams. Let’s all smile together for a better future!),” urged Princess.

A simple smile holds so much power, as it can reflect one’s self-perception, confidence, and quality of life. Through Colgate’s Bright Smiles Bright Futures (BSBF)® Program, Princess is among the millions of kids who can now confidently wear healthier and brighter smiles.

 

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld website. For more information, send an email to online@bworldonline.com.

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Climate Action with Taiwan — Supporting Taiwan’s professional, pragmatic, and constructive participation in the UNFCCC

THOMAS TUCKER-UNSPLASH

THE dangerous impact of climate change on humanity is becoming increasingly apparent and urgent, as evidenced by such phenomena as the wildfires this year in Maui, Hawaii, and the record-high temperatures worldwide in July. As a responsible member of the international community, Taiwan has launched a series of actions this year to combat climate change.

Domestically, President Tsai Ing-wen announced the amendment and renaming of the “Greenhouse Gas Reduction and Management Act,” which became the “Climate Change Response Act” in February, making Taiwan the 18th country in the world to codify the 2050 net-zero emissions goal into law. Moreover, its Environmental Protection Administration was restructured to the Ministry of Environment to accelerate its efforts to enhance government capacity in August. The Climate Change Administration and the Resource Circulation Administration were concurrently established to integrate the handling of environmental issues. Thirdly, Taiwan officially established the Taiwan Carbon Solution Exchange in August, aiming to create incentives for businesses to reduce their carbon emissions.

Internationally, Taiwan hosted the first Pacific Climate Change Forum in Taipei in July and signed the first Joint Statement on Combating Climate Change with the Marshall Islands, Nauru, Palau, and Tuvalu. In response to the European Union’s Carbon Border Adjustment Mechanism (CBAM) and supply-chain decarbonization trends, Taiwan has accelerated efforts to implement carbon pricing and carbon inventory mechanisms. Moreover, Taiwan has incorporated environmental issues into negotiations with the United States under the Taiwan-US Initiative on 21st Century Trade and with the United Kingdom for the Enhanced Trade Partnership.

The aforementioned actions demonstrate Taiwan’s continuous efforts to pragmatically seek opportunities to contribute to the international community. Climate change does not discriminate, and mechanisms to address climate change such as the UNFCCC (United Nations Framework Convention on Climate Change) and the Paris Agreement should not discriminate against Taiwan due to political reasons. In the spirit of professionalism, pragmatism, and making contributions, we urge our Filipino friends to back Taiwan’s participation in the 28th Conference of the Parties (COP28) of the UNFCCC, to be held in Dubai from Nov. 30 to Dec. 12. Support Taiwan in working with the international community toward a net-zero world.

 

Wallace Minn-Gan Chow,
Representative
Taipei Economic and Cultural Office in the Philippines

The wisdom of Charlie Munger

Charlie Munger, Warren Buffett’s vice chair at Berkshire Hathaway passed away at 99 last week of November 2023. He was the close ally and partner of Buffett who provided the wisdom, inspiration, check and balance that helped the world’s greatest investor reach unprecedented heights.

Munger met Buffett when the former was 35, and Buffett, 29. That translates to six decades of friendship and partnership that beat all types of relationships one can ever imagine.

Munger is reported to have steered Buffett into broadening his investment strategy from “cigar-butt” companies to higher quality but underpriced companies. Buffett said that Munger “weaned me away from the idea of buying very so-so companies at very cheap prices, knowing that there was some small profit in it, and looking for some really wonderful businesses that we could buy in fair prices.” Munger helped Berkshire move to investments in companies like insurance giant Geico, See’s Candies, Apple and American Express.

Buffett acknowledges that Munger “made me a better person that I would have otherwise been. I’ve lived a better life because of Charlie.” Buffett views Berkshire as a partnership among him, Munger and other shareholders. “Although our form is corporate, our attitude is partnership. Charlie Munger and I think of our shareholders as owner-partners, and of ourselves as managing partners.” In Buffett’s annual letters to Berkshire shareholders, he always says “Charlie and I.”

Munger is a believer in the difficulty of beating market averages and although he is a dyed-in-the-wool value investor, he acknowledges the practice to be getting tougher. The competition sorting through those opportunities is more intelligent and more aggressive and more numerous.

An interview by CNBC sometime in 2019 with Munger reveals some of the inner workings of his mind. I’d like to share with the readers some key thoughts in his response to the questions of CNBC’s Becky Quick:

1. “I don’t think the right way to handle every tough guy that’s fighting against you is with unlimited hostility. There are times when they ought to be killed with kindness. Even if they’re wrong.” This was a response to a question about the relationship of the US with Russia.

2. “I think the behavior of the mortgage and banking industry in the delusional prosperity that preceded the great real estate bust was obscene. And I think the people who got into a lot of trouble richly deserved it.” The question asked about his comments on some of the worst behavior in business today.

3. On the economics profession. “The great philosopher who said, ‘a man never steps into the same river twice,’ you know, ‘The man is different and so is the river, when he goes in the second time.’ That’s the trouble with economics. The same damn recipe done a different time gets a different result.”

4. What is the secret to a long and happy life? “You don’t have a lot of envy, you don’t have a lot of resentment, you don’t overspend your income, you stay cheerful in spite of your troubles. You deal with reliable people and you do what you’re supposed to do. All these simple rules work so well to make your life better. And they’re so trite… Is that so hard? And can you be cheerful when you’re absolutely mired in deep hatred and resentment? Of course, you can’t. So why would you take it on?”

5. On parenting. “It’s simply amazing to me as a parent to note how much is sort of pre-ordained. The shy baby is the shy adult. The booming, obnoxious, domineering baby is the booming, domineering, obnoxious adult. I’ve never found a way to fix that. I can be cheerful about it, but I can’t fix it. I can change my reaction. But I can’t change the outcome.”

Many will laud the genius thinking of Munger for his many insights on investment and business that fueled the glory of Berkshire Hathaway. But to this writer, what makes a lot of headway are his thoughts on kindness, the secrets to a happy life and parenting. It is his sense of equanimity that gave him a meaningful life of 99 years. He was super rich yet lived a modest life and he practiced the power of giving back to society through his philanthropy.

Here are two final gems of quotes from him on the importance of introspection and balance.

“Confucius said that real knowledge is knowing the extent of one’s ignorance… Knowing what you don’t know is more useful than being brilliant.”

“You have to strike the right balance between competency or knowledge on the one hand and gumption on the other. Too much competency and no gumption are no good. And if you don’t know your circle of competence, then too much gumption will get you killed. But the more you know the limits to your knowledge, the more valuable gumption is.”

The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX.

 

Benel Dela Paz Lagua was previously EVP and chief development officer at the Development Bank of the Philippines.  He is an active FINEX member and an advocate of risk-based lending for SMEs. Today, he is independent director in progressive banks and in some NGOs.

Sean ‘Diddy’ Combs accused in gang-rape of teenager in New York

Sean “Diddy” Combs — WIKIPEDIA

HIP-HOP star Sean “Diddy” Combs was accused in federal court on Wednesday of taking part in the gang rape of a 17-year-old girl in his Manhattan recording studio in 2003, marking the fourth lawsuit leveling sexual assault allegations against him in recent weeks.

Mr. Combs, 54, founder of the landmark label Bad Boy Records and a hugely successful rap performer, issued a statement on Wednesday categorically professing his innocence and declaring his accusers were “looking for a quick payday.”

The plaintiff in the latest lawsuit was identified as Jane Doe, described as a high school student at the time she met associates of Mr. Combs in a Detroit-area lounge 20 years ago.

The complaint says they flew her on a private jet from Michigan to the New York area, then drove her to the New York City studio where Mr. Combs and two other men plied her with drugs and alcohol.

According to the lawsuit, the plaintiff was then raped in a bathroom of the studio by Mr. Combs and the two other men, one after the other, as she slipped in and out of consciousness. It said Mr. Combs also watched one of the other assaults after he was finished.

She was later flown back to Michigan but had little recollection of her return trip to the Detroit suburbs, the lawsuit says.

As evidence to support her allegations, the lawsuit includes several photos allegedly depicting the accuser — her face intentionally blurred — posing inside Mr. Combs’ studio, including one in which she appears to be sitting on Combs lap, both of them facing the camera.

The complaint, filed in US District Court in Manhattan, said the plaintiff has since suffered “extreme emotional distress that has impacted nearly every aspect of her life and personal relationships.”

The lawsuit was filed under New York City’s Victims of Gender-Motivated Violence Protection Law, which was extended to allow accusers to sue over alleged offenses from long ago, even if statutes of limitations have expired.

Mr. Combs’ latest accuser said she chose to come forward after reading news accounts of the lawsuit brought against Mr. Combs last month by his ex-girlfriend Cassie Ventura, who performs under the stage name Cassie, accusing him of subjecting her to physical abuse, sex trafficking and rape over the course of a decade.

Ms. Ventura and Mr. Combs, who has formerly gone by such monikers as P. Diddy, Puff Daddy and Diddy, announced the next day they had settled the case under confidential terms.

Mr. Combs’ lawyer, Ben Brafman, said then that the settlement was “in no way an admission of wrongdoing,” and that his client maintained his “flat-out denial” of Ventura’s claims.

But Mr. Combs was hit with two more lawsuits in a matter of days — one by a plaintiff named Joi Dickerson-Neal, who accused the rap mogul of drugging and sexually assaulting her while she was a student at Syracuse University in 1991. Another “Jane Doe” complaint accused him of forcing her and a friend into nonconsensual sex in the early 1990s.

He has denied those allegations.

“For the last couple of weeks, I have sat silently and watched people try to assassinate my character,” he wrote in his social media post on Wednesday. “Let me be absolutely clear: I did not do any of the awful things being alleged.”

One of the two other men alleged to have raped the plaintiff in Wednesday’s lawsuit was named in the complaint as Harve Pierre, a former top executive at Bad Boy. The third man was identified in the complaint only as the “Third Assailant.”

Mr. Pierre himself was accused in a separate lawsuit last month of using his position of authority at Bad Boy to groom and sexually assault a former assistant.

Neither Mr. Pierre nor any representatives could be reached for comment. A spokesperson for Bad Boy told People magazine last month the record label was “investigating the allegations.” — Reuters

Solaire Resort North to boost Bloomberry’s market standing

RAZON-LED Bloomberry Resorts Corp. is projecting that the opening of its Solaire Resort North in Quezon City next year would strengthen the company’s market position in the country.

“The company looks to solidify its position as the Philippines’ leading integrated resort developer and operator as it opens Solaire Resort North in Quezon City next year,” Bloomberry said in a statement on Thursday.

The company projected that Solaire Resort North is on track for completion by March 2024. 

Bloomberry said this as the listed integrated resort developer and operator secured various awards from international financial and gaming media publications in 2023.

Enrique K. Razon, Jr., the company’s chairman and chief executive officer, was cited for the straight second year as the sixth most influential person in the 2023 edition of the Asian Gaming Power 50, which ranks the 50 prominent gaming industry leaders and executives in Asia. 

The 2023 ranking of Asian Gaming Power 50 also included Bloomberry President and Chief Operating Officer Thomas Arasi, at 37th place from 38th place a year ago.

Bloomberry also won three awards from FinanceAsia’s best-managed companies poll for 2023. Mr. Razon was also recognized as one of the country’s best CEOs (bronze) and Estella Tuason-Occeña, who is Bloomberry’s executive vice-president, chief financial officer, and treasurer, was recognized in the Best CFO category (silver).

Bloomberry also received the gold medal in the Philippines’ best mid-cap category.

“The winners of this benchmark poll is based on nominations by Asia’s savvy community of investors and financial analysts,” Bloomberry said.

Meanwhile, Bloomberry was also cited as the Casino Operator of the Year for the second year in a row in the 2023 Global Gaming Awards Asia by global gaming media platform Gambling Insider.

“The Global Gaming Awards recognize the strongest performers over the last 12 months under various categories across the Asia-Pacific (APAC) region. The awardees are selected by a panel of 30 senior executives from the APAC gaming industry,” Bloomberry said. 

Aside from the planned Solaire Resort North, Bloomberry’s other properties are Solaire Resort Entertainment City in Parañaque City and Jeju Sun Hotel & Casino in Korea.

As of September, Bloomberry recorded a 106% jump in its consolidated net income to P8.3 billion as its consolidated net revenue surged 33% to P36.5 billion.

Shares of Bloomberry at the local bourse fell four centavos or 0.41% to P9.60 apiece on Thursday. — Revin Mikhael D. Ochave

Dealing with Monday and Friday sick leaves

I have a long-time worker who is notorious for filing for sick leave on Fridays, Mondays, and the day before or after holidays. I consulted our human resources (HR) manager who advised me to ignore such minor issues. But we have important work to do and can’t afford emergency absences in our understaffed department. What can we do? — Blue Mountain.

I have encountered two such problem employees in companies I worked for, except that they were motivated for the wrong reasons. I suspect they were also trying to test my patience. In Company A, we were in charge of publishing a two-page weekly newsletter which needed to come out early Monday. The mandate was clear.

The newsletter had to be put together no matter what, even to the extent of working weekends. No ifs, no buts. When I moved to Company B, I was assigned a much more difficult task — to publish a biweekly eight-page newsletter that must also come out Mondays.

This task came on top of everything else that was assigned to me. I handled labor relations, managed employee discipline, did public relations work, coordinated with the labor union, organized sports and socials, handled corporate social responsibility, managed employee benefits, and many others.

In publishing the newsletters, we did research, conducted interviews, took photographs, wrote and edited the content, laid out the articles, and coordinated with the printer. Unfortunately, the burden was not shared by my two publication assistants in companies A and B.

Or at least, that’s how I felt at the time. They resorted to emergency leaves and sick leaves for dubious reasons, most of the time without informing me directly and instead relaying the message through our department secretaries.

This was when mobile phones were not yet in wide use. When deadlines approached, my work schedule was thrown into disarray. I also had to work during weekends without extra pay because I was salaried.

FIVE OPTIONS
I communicated this problem to my bosses, whose advice was similar to the position taken by your HR manager: grin and bear it. Somehow, I managed the situation by spending long hours at work, in the process proving that I could do it without their assistance. I turned the tables by outsourcing the task to on-call writers, cartoonists and layout artists, even spending my own money to do so.

It was all worth it. My assistants started to feel insecure about their jobs.

I’m not sure if such a solution works for you. Our situations may vary and require different approaches. If that’s the case, let me share with you the following options:

One, establish a pattern of emergency leaves. “Emergency leaves” mean any absence from work without prior management approval. This includes any situation like a broken-down vehicle of an employee, fire in the neighborhood, assisting a family member who is hospitalized — in other words, events that are difficult to predict, including illnesses that require sick leave.

The challenge is to determine the reasonableness of these leaves in a given year.

Two, calculate the damage or losses. This includes the amount of overtime pay for other employees who are required to pitch in, professional fees of subcontractors and other related expenses, like the use of utilities (electricity, etc.) in the office. That’s not all. You may have to include other nonquantifiable expenses or any amount that you are forced to absorb.

Three, engage a physician to do house calls. The doctor may be assigned by a Health Maintenance Organization (HMO). This face-to-face visit could pose additional cost for the organization and can only be used sparingly depending on the situation or the employee’s notoriety. If medically feasible, “arrange” with the HMO to bring a sick worker to a hospital to deliver a message.

Four, connect habitual sick leaves with the medical exam. Include a provision in the HMO contract giving the latter the right to conduct physical check-ups on those accumulating excessive sick leaves. This may discourage people from calling in sick if they know that the HMO will conduct a mandatory check-up and withhold medical benefits to those who refuse.

Last, conduct regular engagement dialogues. Maintaining open communication is very important. However, you must come prepared with data on the frequency of the worker’s emergency leaves and how they are adversely affecting company operations. Explain the issue and secure a commitment from the concerned employee.

If the problem persists, disallow the “emergency” or “sick” leave as a last resort. If you’ve reached this stage, monitor the employee’s reaction and prepare for a more difficult situation. When you do this, be honest with yourself. Who knows? You might be part of the problem.

 

Bring Rey Elbo’s leadership program called Superior Subordinate Supervision to your management team. Chat with him on Facebook, LinkedIn, X (Twitter) or e-mail elbonomics@gmail.com or via https://reyelbo.com

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