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DoLE to iron out Saudi OFW back pay details

PHILIPPINE STAR/KRIZ JOHN ROSALES

THE LABOR department said Thursday that it will form a special task force to expedite the release of back pay and end-of-contract benefits owed to overseas Filipino workers (OFWs) forced to return home from Saudi Arabia in 2016.

In a statement, the Department of Labor and Employment (DoLE) said it will create a technical working group whose members will include the Riyadh-based labor officer, the Overseas Workers Welfare Administration (OWWA), and the Philippine Overseas Employment Administration (POEA), as well as representatives from a Saudi Arabia OFW group “to determine all details relevant to the release of the full settlement.”

Labor Secretary Silvestre H. Bello III also “ordered the inclusion of OFW representatives in the group that will meet with its counterpart from KSA (the Kingdom of Saudi Arabia) in order to hasten the processing of claims by some 9,000 OFWs,” DoLE added. 

The Philippine and Saudi Arabian governments led by Mr. Bello and Saudi Labor Minister Ahmed al-Rajhi held talks in Dubai last week, DoLE said.

Citing OWWA Administrator Hans Leo Cacdac, DoLE said all specifics, such as eligibility, distribution, and documentary requirements will be finalized through the technical working group and should be ready before the scheduled visit of the Saudi Arabian labor minister in December.

The Saudi Arabia government is expected to pay P4.6 billion in unpaid salaries to 9,000 OFWs, Mr. Bello has said. — Kyle Aristophere T. Atienza

Deere union workers reject labor agreement offer

REUTERS

MEMBERS of the United Auto Workers (UAW) union rejected a deal with Deere & Co., extending a nearly three-week-long strike and illustrating the growing willingness of US workers to hold out for better terms.

The second rejected deal offered substantial improvements over one that workers turned down before going on strike, and included larger wage increases, no new tiers to retirement benefits and a signing bonus of $8,500.

The wage increase offered at 14 Deere facilities was larger than nearly a dozen other collective bargaining agreements the UAW has negotiated since 2018, according to Bloomberg Law’s database of labor contracts.

“Thirty five years ago, workers at Deere lost a lockout and took a deal that froze and reduced wages,” said University of Chicago historian Gabriel Winant. “Today they rejected an offer that starts with a 10% raise. It’s the biggest downward shift in the economic balance of power in my lifetime.”

Some 10,000 Deere employees — about 14% of its global workforce — went on strike on Oct. 14 for the first time since 1986, having rejected a prior deal that called for a 5% to 6% wage increase for the first year. The world’s biggest farm equipment maker has kept its factories running, using salaried employees. The company said the focus has been operating parts depots and its parts distribution center to ensure farmers can complete their harvest season.

The strike comes as supply chain snags for semiconductors and other parts are already causing turmoil at a time of peak demand for tractors during the US harvest. The consensus of analysts’ estimates compiled by Bloomberg shows the company will report $10.6 billion in net sales from equipment operations when it reports fiscal fourth-quarter earnings Nov. 24.

“By a vote of 45% yes to 55% no, UAW John Deere members voted down the agreement this evening,” the union said in a statement late Tuesday. “The strike against John Deere and Co. will continue as we discuss next steps with the company.”

Production and maintenance employees at 12 plants rejected the agreement, while workers at parts facilities in Denver and Atlanta approved a separate agreement with identical economic terms, the company said in a statement.

“Through the agreements reached with the UAW, John Deere would have invested an additional $3.5 billion in our employees,” Deere said. “With the rejection of the agreement covering our Midwest facilities, we will execute the next phase of our Customer Service Continuation Plan.”

The six-year contract that was rejected also included wage hikes of 5% in the third and fifth years, as well as lump-sum bonuses amounting to 3% of worker pay for the other three of the six-year contract. It also offered a $35,000 retirement bonus for workers with 10 to 24 years on the job and a $50,000 bonus for workers with at least 25 years.

The company’s existing “two-tier” compensation system, in which workers hired since 1997 receive less generous benefits than those who started working there earlier, has been a sticking point for many employees, and would not have been abolished by the tentative agreement.

Deere’s much-improved contract offer, and its employees’ choice to reject it, reflect workers’ increased leverage and heightened expectations at a moment of tight labor markets and heightened political focus on “essential workers.”

“The Deere strikers and others may be gaining a new awareness of their leverage in the current labor market, and that the time to act is now,” said Chris Rhomberg, a sociology professor at Fordham University. “The stakes are high, but a victory for the union in this strike can help re-shape the terms of the post-pandemic economy.”

The number of US workers on strike could grow substantially in the coming weeks if some of the tens of thousands of Kaiser Permanente healthcare workers who have authorized work stoppages walk off the job, or if film and TV workers follow their Deere counterparts’ lead in rejecting tentative deals negotiated by union leaders.

MORE LEVERAGE
While the current labor market has strengthened workers’ hand and weakened the threat of permanently replacing striking workers across the board, employees have particular leverage in those sectors where strikes can seriously disrupt or halt production.

That includes the International Alliance of Theatrical Stage Employees (IATSE) members slated to vote in the coming weeks on tentative deals reached with film and TV producers days before a planned strike, and the West Coast International Longshore and Warehouse Union members whose contracts expire next summer, as well as the Deere workers.

The Deere strikers’ leverage rests “on the times, but also on their ability to shut down production,” former Communications Workers of America President Larry Cohen, who now chairs the advocacy group Our Revolution, said Sunday. “You can’t do that everywhere — it’s harder at a Kellogg’s where they are importing stuff.” — Bloomberg

Stuff to do (11/05/21)

Ortigas Foundation Library — ORTIGASFOUNDATIONLIBRARY.COM.PH

THE NEW Ortigas Foundation Library has reopened at the second floor of the McKinley building (above Unimart) in Greenhills Shopping Center, San Juan City. It is now open for library services. Research and topics can be browsed at http://ortigasfoundationlibrary.com.ph/. Reservations to visit must be made ahead of time through e-mail at ortigasfoundation@ortigas.com.ph. A time limit for research may apply depending on the number of visitors. Upon arriving, visitors must provide an ID, proof of vaccination, and fill up a standard health declaration form. They must wear a mask at all times inside the library premises. The library is open from 9 a.m. to 3 p.m. Parking spaces are available. The gift shop is also now open as well as the Conservation Lab to provide restoration services. For more details, visit https://www.facebook.com/Ortigas.Foundation/. 

CCP re-opens with limited film screenings

TWENTY months after it closed down its theaters and other venues, the Cultural Center of the Philippines (CCP) will hold special premiere screenings of select feature and documentary films celebrating Filipino excellence. Collectively known as WAGI: A Celebration of Filipino World-Class Excellence, all the special screenings are scheduled at 7 p.m., at Main Theater. On Nov. 5, the CCP opens its doors with the screening of A Thousand Cuts, a social documentary by filmmaker Ramona Diaz, to celebrate the first Nobel laureate from the Philippines and Rappler CEO Maria Ressa. A Q&A session with the film director follows. Filipino pride and excellence in sports takes the spotlight in the special screening of the GMA 7 documentary Team Pilipinas on Nov. 26. Produced by journalist Atom Araullo, the film honors the athletes who represented the Philippines and bagged medals at the 2020 Tokyo Olympics — gold medalist Hidilyn Diaz, silver medalist Nesthy Petecio, silver medalist Carlo Paalam, and bronze medalist Eumir Marcial. The Philippine premiere of On the Job: The Missing 8 will be held on Dec. 9. Directed by Erik Matti, this film saw actor John Arcilla winning the Coppa Volpi for Best Actor to actor John Arcilla at the Venice Film Festival. The special screening is co-presented with the Embassy of Italy in Manila. There will be a Q&A session after the screening. Following the new rulings on the government-imposed lockdowns, the CCP will open with 30% audience capacity. Only audience members who are fully vaccinated will be allowed inside the theaters. They need to present their vaccination card/ID at the entrance, fill up a health declaration form or the Stay Safe app, and present their tickets/scannable QR Codes on mobile. Guards will do routine temperature checks before entering. For more information, visit the CCP website, www.culturalcenter.gov.ph, or follow the official CCP social media accounts on Facebook, Twitter and Instagram for updates.   

Pru Life UK launches new global fund 

PRU LIFE UK will be offering a new equity fund that gives investors access to global markets without needing to convert their peso holdings into foreign currency. 

Called the PruLink Global Equity Navigator Fund, the product has allocations for equity markets in at least 10 major economies including the US, Japan, South Korea, United Kingdom, Canada, Brazil, France, Switzerland, Germany, and Australia, among others, Pru Life UK Vice-President for Investment Marketing Mark Anthony A. Valino said in an online briefing. 

The fund will be available in the country starting Nov. 8. It is managed by Singapore-headquartered Eastspring Investments. 

Existing and new Pru Life UK policyholders may avail of the product. It can be attached to their investment-linked life insurance policies. 

The fund is suitable for young starters positioning for long-term investments, high-income earners looking to diversify their portfolio, as well as investors already familiar with the international financial markets, Mr. Valino said. 

As it is a dollar-denominated feeder fund, investors should be aware of the risk that comes with currency volatility, he added. 

“Make sure that you are able to accept and appreciate all of these risks that come also with the growth opportunities,” Mr. Valino said. 

This month, the insurer welcomed Eng Teng Wong as its new president and chief executive officer, succeeding Antonio G. De Rosas following the latter’s retirement. Mr. Wong was previously the chief revenue officer and chief officer for ecosystem implementation at Prudential Services Asia. 

Mr. Wong said he is optimistic about the untapped opportunity in the Philippines given its 111-million population, saying this is much bigger compared to the 32-33 million in Malaysia where he came from. 

“We [in the Philippines] have one of the largest agent force in the country, not just the largest but also youngest and also growing fast,” he said. 

He added that he hopes to address the challenge of financial literacy in the country. 

Pru Life UK booked the second-highest net premium in the life insurance sector worth P30.98 billion last year, based on data from the Insurance Commission. 

The insurer’s net income of P3.27 billion was the fourth biggest in the industry in 2020, while it ranked fifth in terms of its assets with P117 billion. — L.W.T. Noble 

8990 Holdings earnings up 6.6% in third quarter

LISTED mass housing developer 8990 Holdings, Inc.’s net income reached P1.94 billion in the third quarter, higher by 6.6% year on year, on the back of higher real estate sales.

Based on its unaudited financial statements released on Thursday, 8990 Holdings said real estate sales in the three months ending September hit P5.34 billion, higher by 11% versus its level in the same period last year.

In the three months ending September, sales from the firm’s real estate business accounted for over 99% of the company’s revenues.

However, the company’s costs and expenses increased by 5% to P2.57 billion in the third quarter compared to P2.45 billion previously.

For the first nine months of the year, 8990 Holdings registered a net income of P5.40 billion, up by 63% compared to the P3.31 billion recorded in the year before.

“Our outstanding results, both for the third quarter of 2021 and for the first nine months of the year, definitely show an increase in confidence for the future from our core market of first-time homebuyers and end users,” 8990 Holdings President and Chief Executive Officer Anthony Vincent S. Sotto said in a separate press release.

“We are confident that with our products geared specifically to our core housing market, 8990 will finish 2021 strongly and signal the economy’s recovery for 2022 and beyond,” he added.

The firm noted that the country’s real estate sector is beginning to recover from the effects of the global health emergency amid the government’s continued rollout of its vaccination program against the coronavirus disease.

In addition to horizontal mass housing projects, 8990 Holdings also develops medium-rise condominiums and high-rise building projects.

Shares of 8990 Holdings inched down by 0.37% or four centavos to finish at P10.74 apiece on Thursday. — A.Y. Yang

Entertainment News (11/05/21)

3SF Festival bares 20 finalists

ORGANIZERS of the Three Shots Film  (3SF) Festival revealed the finalists to its new and unique competition. Media Underground or MUD Studios challenged students 16 to 25 years old to make a short film — fiction, documentary, or animation — using only three shots and three cuts for a story composed of a beginning, middle and end, with a minimum running time of one minute and a maximum of 15 minutes. Making it to the Top 20 are Cedric Dalangin (Sa Tanan Nga Adlaw), Calvin Ponteblanca (Feelingerong Feline) and John Thomas Trinidad (Boom Tiyaya) from University of the Philippines-Diliman; Mark Wilson S. Catindig (Ip-) and Christine Anne C. Crisostomo (Kabtang), Lyceum of the Philippines University-Manila; Lyka Calingasan (Lamang Lupa) and Janina Cortez (4:00 p.m.), De La Salle-College of Saint Benilde; Angelo P. Gillo (Ninong, Enge Arep) and Mark Jhon Villanueva (Living), University of the East-Caloocan; and Rainner S. Cion (Sakaling Makalipad), Far Eastern University-Manila; Jhody Alessandra Sacramento (Laruan), St. Dominic College of Asia; Jermaine Tulbo (Bulawan), Meridian International College; Ma. Aizil Blues Turen (Alpas), San Sebastian College-Recoletos, Manila; Peter Solano (Do or Die), Universidad de Manila; Alyssa Maxine B. Balayo (Nilaga), University of Santo Tomas; Faith Carisa Lacanlale (Bagito), UP Baguio; Francis Lester S. Lacambra (Per Kilo), Gordon College, Olongapo City; Francis Ryan Basa Pabiania (Paghibi sang Langit), Silliman University, Dumaguete; Preanne Nicole Parojinog (Kalat), Malayan Colleges Mindanao, A Mapúa School, Davao; and Dominic Howell Dumogho (Sumalangit Nawa), Father Saturnino Urios University, Butuan City. The 3SF Festival finalists will be available for viewing on MUD’s website https://www.mud-studios.net/ from Nov. 5 to 11. Awarding ceremonies will be held on Nov. 12, 8 p.m. The Best Film, Best Direction, and Best Cinematography winners will receive cash prizes and plaques of recognition. The festival will also hand out a People’s Choice award.

DC blockbusters and series on HBO GO

DC blockbusters, including James Gunn’s The Suicide Squad and other series featuring crime-fighting heroes, can now be streamed on-demand on HBO GO. Mr. Gunn gives a new twist to Warner Bros. Pictures’ DC franchise on the team-up of the most notorious criminals as they put their lives on the line to save the world. The film stars Viola Davis, Margot Robbie, Idris Elba, Michael Rooker, Sylvester Stallone, and John Cena. Viewers can watch more DC movies anytime on HBO GO, including box-office hits Man of Steel, Wonder Woman, Zack Snyder’s Justice League, and the series Arrow, Batwoman, DC’s Legends of Tomorrow, DC’s Stargirl, Doom Patrol, and more. Monthly subscription is priced at P99 which can be charged to a SKY subscriber’s monthly bill. HBO GO is also accessible as a built-in app on SKY EVO, SKYcable’s latest digibox innovation.

Robinsons Malls,  Ben&Ben team up for Christmas song

THIS year, Robinsons Malls has chosen the popular, nine-member group Ben&Ben to get mall visitors into the holiday mood. With their cool vocal stylings and relaxing chords, the “famband” is the perfect complement to the mall chain’s aim to be the favorite place of Filipinos eager to celebrate with family and friends. For this new partnership, Ben&Ben created a fresh take on the popular Christmas song “Tuloy na Tuloy pa rin ang Pasko” which is expected to receive heavy airplay in music streaming platforms and at Robinsons Malls nationwide. Fans can likewise look forward to performances by the band exclusively presented by Robinsons Malls.

K-drama Happiness premieres on iQiyi

KICKING off on Nov. 6 on iQiyi is the new K-drama HAPPINESS, which takes place in a time when infectious diseases are the new normal. Set in a newly constructed apartment where the higher floors are for sale and the lower floors are rented out, the series depicts the subtle psychological battle and the class discrimination that occurs. Police officer Yoon Sae-bom (Han Hyo-joo) and her high school classmate Jung Yi-hyun (Park Hyung-sik) are also trapped in the apartment, fighting for survival as fear and distrust spreads amongst its residents. Directed by Ahn Gil-ho, the series stars Han Hyo-joo, Park Hyung-sik, and Jo Woo-jin. Beginning Nov. 6, new episodes of Happiness will be released at 12 p.m. every Saturday and Sunday on the iQiyi International app or iQ.com.

The Sopranos prequel premieres on HBO GO

THE MANY Saints of Newark, the feature film prequel to David Chase’s groundbreaking, award-winning HBO drama series The Sopranos, premieres exclusively on HBO GO on Nov. 11. Viewers can also stream or download all six seasons of The Sopranos on HBO GO now. In The Many Saints of Newark, young Anthony Soprano is growing up in one of the most tumultuous eras in Newark’s history, becoming a man just as rival gangsters begin to rise up and challenge the all-powerful DiMeo crime family’s hold over the increasingly race-torn city. Caught up in the changing times is the uncle he idolizes, Dickie Moltisanti, who struggles to manage both his professional and personal responsibilities — and whose influence over his nephew will help make the impressionable teenager into the all-powerful mob boss we’ll later come to know as Tony Soprano. The Many Saints of Newark stars Alessandro Nivola, Leslie Odom, Jr., Jon Bernthal, Corey Stol, Michael Gandolfini, Billy Magnussen, Michela De Rossi, John Magaro, Ray Liotta, and Vera Farmiga. Alan Taylor, who won an Emmy for his directing work on The Sopranos, helmed the film from a screenplay by series creator David Chase and Lawrence Konner. One can subscribe to HBO GO online at http://www.hbogoasia.ph/ or the mobile app via the App Store or Play Store for ₱99.70/month. Or access HBO GO via Cignal, Globe and Skycable. HBO GO is also available on Android TV, Apple TV, LG TV and Samsung Smart TV.

Empowered women

NEXTGEN ORGANIZATION OF WOMEN CORPORATE DIRECTORS
The Philippine population is about 50-50% male to female and our workforce is also about that ratio. However, when it gets to the boardroom, especially for publicly listed companies, the number drops significantly to 17% female board directors.  The question is: should we be happy with 17% when studies show that companies with women in their boards result in better growth and performance?

This led to the formation of NextGen Organization of Women Corporate Directors (NOWCD), a non-profit group of women directors in boards of publicly listed and private companies. The goal is to increase women in board leadership positions by providing education and tools that keep members engaged, informed and high performing as directors. NOWCD will provide valuable local and international networks, training and capacity building to equip its members for their board roles and responsibilities.

Incorporated in September 2021 with Boots Garcia as chair and Chit Juan as president, NOWCD is affiliated with the Women Corporate Directors Foundation (WCD), the world’s largest community of women corporate women directors. Currently there are 30 members (by invitation) including Baby Nuesa, Maricelle Narciso, Nina Aguas, Nenette Lavares, Laurie Westfall, Mariana Zobel de Ayala, Gina Lorenzana, Gianna Montinola, Ida Tiongson, Lydia Echauz, Gianna Montinola, Jasmine Oporto, and Filipina CEOs Sharon Dayoan, Marife Zamora, Carol Dominguez and Riza Mantaring, among others.

WOMEN BUSINESS COUNCIL
WomenBizPH has just completed its very successful I AM WOMAN book and webinar series and already, there’s the Women Rise Research Project led by President Mylene Abiva, Chiqui Escareal Go and Atty. Dick Baladad.

When the lockdown started in 2020, economic activities were practically at a standstill. With the financial challenges, many small businesses were not able to bounce back and recover from the impact of the lockdown. So to better grasp the needs of Filipino Women Entrepreneurs, Women Rise took a close look at sunrise industries, the factors for their success and challenges to progress, such as the use of financial technology and the impact of national and local business environments. The Women’s Business Council also connected the Women Rise Research Study respondents to Department of Trade and Industry (DTI) and Small Business Corp., the financial arm of DTI, to learn more about the BAYANIHAN Cares Financial Assistance program. Financial support will now be available for the participants to expand their business or pivot to a new industry through the initiative of WomenBizPH.

Women Rise’s recommendation is that capacity building activities will strengthen businesses agency and build resilience, such as:

• business resilience planning;

• evidence-based planning;

• understanding the current business environment, including the potential sunrise industries;

• financial technology; and

• adapting technology to boost their business.

FINEX WOMEN IN FINANCE
In line with Agriculture Secretary William Dar”s PLANT! PLANT! for food security, FINEX Women in Finance led by Chair Terrie Magleo and Director Tiffi Zulueta sponsored the “Weedibles and Weedicinals” webinar emceed by Nikki Tang and moderated by Edith Dychiao. Yes!  Weeds are useful.  Many are edible and medicinal so no Filipino should go hungry.  Do you know the weed for anti-aging, a memory enhancer, strong in vitamins B1, B2 and B6 for memory and nerves and even a facial moisturizer all in one? What weed is against dengue, good against anxiety and also has a calming effect?

MAKATI GARDEN CLUB
Christmas is just around the corner. Makati Garden Club led by Chair Mindy Perez Rubio, President Ching Caluag, and board members Ninit Paterno, Emily Cruz, Ruby Roa, Sonya Garcia, and Sandra Fernandez are all busy preparing for the Holiday Event on Nov. 12-19 with 10% discount on Christmas items. Beautiful items from COZY IN NATURE by DARA are also available. Also, watch out for gardening workshops scheduled for next year!

Never a dull moment with these empowered women!

(The views expressed herein do not necessarily reflect the opinion of these institutions.)

 

Ms. Flor G. Tarriela was the first chairwoman of the Philippine National Bank. She was the first and only independent director/chairwoman in the commercial banking industry. She is a former Undersecretary of Finance and the first Filipina vice-president of Citibank N.A. She is a trustee of FINEX and an Institute of Corporate Directors fellow. A gardener and an environmentalist, she established Flor’s Garden in Antipolo, an ATI Accredited National Extension Service Provider and a DOT Accredited Agri Tourism Site.

Nickel Asia net income surges in Jan.-Sept.

NICKEL Asia Corp. (NAC) posted a 168% increase in its net income attributable to the equity holders of the parent company to P6.17 billion in the first nine months of the year on the back of higher ore sales and ore prices.

The listed mining firm said in a stock exchange disclosure on Thursday that its total revenues for the January to September period increased 39% to P21.06 billion compared to P15.11 billion last year.

Of the company’s revenues, the sale of ore and limestone contributed P20.03 billion, followed by services and other revenue at P663.27 million, and sale of power at P371.63 million.

In the nine-month period, NAC sold 14.4 million wet metric tons (WMT) of nickel ore at an average realized price of $27.96 per WMT, improving from the 14 million WMT at $20.10 per WMT logged a year ago.

Broken down, NAC exported 8.73 million WMT of saprolite and limonite ore to Japan and China at an average price of $38.69 per WMT during the period, higher than the 7.5 million WMT at $30.53 per WMT in 2020.

The company also delivered 5.68 million WMT of limonite ore to its Coral Bay and Taganito high-pressure acid leach (HPAL) plants at an average price of $8.20 per pound of payable nickel for the period compared to the 6.52 million WMT at $5.97 per pound recorded last year.

Meanwhile, the company’s operating expenses in the nine-month period also increased 20.7% to P4.85 billion from P4.02 billion a year ago.

NAC President and Chief Executive Officer Martin Antonio G. Zamora said the electric vehicle industry remains the main driver of nickel demand over the long-term period.

“Chinese stainless-steel production was up 12% year on year and nickel ore prices as well as London Metal Exchange nickel price have continued its upward momentum, despite the slowdown in Chinese gross domestic product growth,” Mr. Zamora said.

In a separate disclosure on Thursday, NAC said its board of directors approved the creation of a nonstock, nonprofit foundation called NAC Foundation, which will be in charge of corporate social responsibility initiatives. It has an initial funding of P20 million.

On Thursday, shares of NAC rose 2.37% or 13 centavos to end at P5.61 apiece. — Revin Mikhael D. Ochave

PBA joins East Asia Super League

With teams from China, S. Korea, Japan, and Taiwan

By Nelson T. Beltran, Philippine Star Sports Editor

AFTER some period of hemming and hawing, the Philippine Basketball Association (PBA) signed up with the East Asia Super League (EASL) in the end, making it a pioneer member of the regional loop where top PBA ball clubs slug it out with counterparts from China, South Korea, Japan, and Taiwan.

After four test tourneys in Japan and in Macau, the EASL has set a first full-fledged season, featuring a home-and-away format touching off next year.

The PBA board has approved its EASL participation coming with a PBA representation in the EASL board.

“We’re to field two teams. It will be determined by drawing lots among the top four (in a certain PBA tourney that serves as the qualifier),” said PBA chairman Ricky Vargas.

The PBA first joined the EASL in the second edition of its Super 8 in Macau in 2018, with the NLEX Road Warriors and the Blackwater Elite competing with the Guangzhou Long Lions, the Xinjiang Flying Tigers, the Seoul Samsung Thunder, the Incheon Electroland Elephants, the Rizing Zephyr Fukuoka and the Formosa Dreams. NLEX finished fourth behind Guangzhou, Seoul and Incheon.

In 2019, EASL rebranded from its initial name Asia League and drew the participation of Blackwater, the TnT KaTropa and the San Miguel Beermen in its Terrific 12 edition. San Miguel entered the semis but lost a nail-biter against the Zhejiang Lions, 91-89.

Emerging as champs in the league’s four preseason tourneys were the Chiba Jets of Japan in 2017, Guangzhou in the 2018 Super 8, the Ryukyu Golden Kings of Japan in the 2018 Terrific 12 and the Liaoning Flying Leopards in the 2019 Terrific 12.

The league has been idle the last two years due to pandemic, but chief executive officer Matt Beyer and chief finance officer Henry Kerins, both Hong Kong-based, have been continuing work to firm up the planned official launch and drum up interest for the FIBA-sanctioned regional loop.

SECOND CONFERENCE
Meanwhile, the PBA board convenes in a meeting today to draw options for a tournament format and venue in anticipation of all eventualities for Season 46 second conference set to start late this month.

The main issue is the format that would fit the pandemic protocols imposed by the government.

The league chairman said a possibility is a home-venue-home setup if the current quarantine status in the National Capital Region eases down to Alert Level 2.

Mr. Vargas said they will lay down options for a possible extension of the current alert level or in case it shoots up.

But the league is all set for the second conference that will bring back imports with a height limit of 6-foot-6. TnT chases a season double with McKenzie Moore as reinforcement.

The problem with generic employer e-mail addresses

Is it advisable to answer job advertisements from a company that has no professional business e-mail address and website? BusinessWorld is publishing a lot of these ads that are too small to be noticed and read. What do you think? — Suspicious Susie.

Many decades back, dynamite was used to clear farmland for development. A salesman for explosive products was known for his extreme attitude on safety. Since he had covered the same area for 30 years, he knew most of his customers on a first-name basis.

One day, he met a new customer, a man who had just bought a farm and needed explosives to flatten the field. The new customer asked if he could be billed for the explosives later. “Well,” the salesman asked, “have you ever used dynamite before?” The new customer replied in the negative. “Then I’m afraid, I’ll have to ask for cash in advance.”

Even today, we must be extremely careful with our dealings, including job opportunities. Better to be safe than sorry. Also, you can’t argue against having a professional e-mail address and website that tells you many things about an employer’s brand.

Having a professional e-mail address costs about $3 a month in many cases. It should cost less if you have hundreds of employees working for your organization. An employer must spend something to promote a business name and protect its reputation, including the people behind it.

CALCULATED RISK
Your response to such ads also depends on your personal circumstances. If you’re unemployed and with no other options, you may answer those ads with a sense of calculated risk. Let me give you an example: Before the pandemic, my youngest son applied for work with a small lending company without a website. He sent his curriculum vitae to a generic e-mail address listed in the job ad.

He was accepted after only two interviews, which I found unusual.

The job offer was conditional on the submission of basic pre-employment documents and the payment of a fee to cover his medical examination. That’s a red flag. He asked the human resource (HR) manager about the company and the people behind it. He then asked, “Sir, if you don’t mind, isn’t your business required to have a license by the central bank?”

The HR manager gave an evasive answer. That’s another red flag. After several days, my son received a call that the job offer was withdrawn and gave a vague explanation. The employer’s actions confirmed my suspicions that it was one of those fly-by-night companies.

I’m not saying we should be suspicious of all employers with generic e-mail addresses. Far from that. I myself use a generic e-mail address as an alternative to my office e-mail. You must take extra steps to discover more about that company before it’s too late. On the other hand, organizations with expensive-looking e-mail addresses and fancy-looking websites don’t necessarily tell us they’re legitimate and trustworthy.

But why waste time on organizations that are unmindful of their reputation? Focus your attention on major employers. It can be a challenge to be accepted by those companies, but the experience of going through their interview process might help you gain confidence when you undergo the same process with other employers.

THE PATH FORWARD
It’s a good idea to know about a prospective employer, not only for purposes of acing the job interview but to clarify the reasons for the vacancy and why the company is resorting to an external hire instead of promoting people from within.

The more interested you are in the inner workings of a prospective employer, the better you will understand if it is a good fit with your career aspirations. It can be discouraging to prepare for an interview and a complicated story from an employer. That’s why it is essential for anyone to have a sense of clarity on the path forward at the close of an interview process.

Your inquisitive mind could be a double-edged sword to a prospective employer who may think of you as the best fit for any organization that believes in an industrial democratic system. Or you could be considered a nuisance applicant who could rock management’s boat. Whatever you decide, it’s better to shake things up and know how the dice will roll for the sake of your future.

 

Have a chat with Rey Elbo via Facebook, LinkedIn or Twitter or send your workplace questions to elbonomics@gmail.com or via https://reyelbo.consulting

How PSEi member stocks performed — November 4, 2021

Here’s a quick glance at how PSEi stocks fared on Thursday, November 4, 2021.


Philippine labor force situation (Sept. 2021)

THE UNEMPLOYMENT RATE rose to 8.9% in September, as bad weather left nearly 900,000 without work in the farm sector and strict lockdowns claimed over 340,000 factory jobs, the Philippine Statistics Authority (PSA) reported on Thursday. Read the full story.

Philippine labor force situation (Sept. 2021)