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Cool Smashers eye Asian glory

PVL Invitational champions Creamline Cool Smashers — PVL

ALYSSA Valdez, Jia de Guzman, Tots Carlos and Jema Galanza will spearhead the 14-member national team eyeing Asian Volleyball Confederation Cup glory as the nine-day event unfurls on Sunday at the PhilSports Arena in Pasig.

Also making the team were Risa Sato, Ced Domingo, Jeanette Panaga, Michele Gumabao, Ella de Jesus, Pau Soriano, Kyla Atienza, Kyle Negrito, Rose Vargas and Fille Cayetano, who were also part of the Creamline team that earned the right to represent the country by topping the Premier Volleyball League Invitational recently.

Sherwin Meneses will coach the team and will have a staff consisting of Karlo Santos, Bok Morado and Mark Caron.

The squad resumed practice on Wednesday, or just a few days before the meet unfurls.

While expectations were tempered due to lack of time to prepare, there were high hopes the host country could give the visiting teams consisting of the best in Asia a run for their money.

Or the least the team could do is improve on a ninth-place finish in the 2018 edition of the same meet in Nakhon Ratchasima, Thailand.

That would be a feat on itself considering that Creamline was just a last-minute replacement after the Philippine National Volleyball Federation relieved National University of its national team duties to avoid their players from sustaining injuries.

Interestingly, Mses. Valdez, De Guzman, Galanza and Sato were part of that team in Nakhon Ratchasima.

“We’ll do our best to make the country proud,” said Mr. Meneses.

The country was bracketed in Pool A composed of China, Vietnam, Iran and South Korea, or what many believed as the “Group of Death.”

The Filipinas battle the Vietnamese, the Hanoi Southeast Asian Games silver medalists on Sunday, the Chinese, the 2018 Jakarta Asian Games gold winners on Tuesday, the Iranians on Wednesday and the Koreans, the Asiad silver winners on Thursday.

The other group consisting of Japan, Thailand and Australia was reduced to three after Kazakhstan’s recent withdrawal.

The national women’s team needs to finish in the top four in Pool A to qualify for the quarterfinals. The fifth-placed team in Pool A will finish in ninth place. — Joey Villar

Pole-vaulter Obiena officially reinstated to national team

EJ OBIENA — REUTERS

WORLD No. 3 Filipino pole-vaulter Ernest John “EJ” Obiena has been officially reinstated into the national track and field team.

Philippine Athletics Track and Field Association (PATAFA) Executive Vice-President Willie Torres, upon the instruction by president Terry Capistrano, confirmed the news on Wednesday after the PATAFA board voted on it during a special meeting last Saturday.

Philippine Sports Commission (PSC) Executive Director Atty. Guillermo Iroy, Jr. said Mr. Obiena’s re-inclusion takes effect this month and the changes fall within the existing team quota of athletics.

PSC Commissioner and Officer-in-charge Olivia “Bong” Coo welcomed the development.

“We are thankful to the PATAFA leadership for taking this step to solidify the strength of our national athletics team,” said Ms. Coo.

This meant Mr. Obiena could now start receiving a monthly allowance as well as training budget upon the recommendation of PATAFA.

It was not yet known if Mr. Obiena would get the lion’s share of the fund allotted to PATAFA the same way he did before his infamous brush with the latter and former president Philip Ella Juico.

But with the way Mr. Obiena was performing recently, the country should continue to prioritize the Southeast Asian Games gold medalist after his historic bronze medal effort in the World Championships in Eugene, Oregon last month.

Mr. Obiena is also being viewed as a potential medalist in the 2024 Paris Olympics after his meteoric rise to a career-best No. 3 in the world behind only world and Olympic champion and record-holder Armand Duplantis of Sweden and No. 2 Christopher Nilsen of the United States.

If he achieves the feat, he will be the first Filipino to snare an Olympic medal in athletics since Miguel White captured a 400-meter hurdles bronze in the 1936 Berlin Games. — Joey Villar

La Salle vs Marinero in D-League Aspirants’ Cup finals

ECOOIL-LA SALLE knocks off Adalem Construction-St. Clare. — PBA MEDIA

Game On Sunday
(Smart Araneta Coliseum)
12 p.m. – Marinerong Pilipino vs. EcoOil-La Salle

ECOOIL-LA SALLE and Marinerong Pilipino set up a gigantic championship showdown, knocking off Adalem Construction-St. Clare and Apex Fuel-San Sebastian in the do-or-die Game 3 of the Philippine Basketball Association (PBA) D-League Aspirants’ Cup semifinals on Wednesday at the Smart Araneta Coliseum.

The Green Archers drubbed the Saints, 97-74, while the Skippers hung on to a 69-64 win over the top-seeded Golden Stags to remain as the last two teams standing in D-League’s return from a two-year hiatus.

La Salle and Marinero begin their best-of-three clash for the Aspirants’ Cup diadem on Sunday at the same venue.

CJ Austria uncorked 26 points, Kevin Quiambao added 16 while Michael Phillips had an all-around line of 14 markers, 13 boards, six assists, four steals and five blocks to banner La Salle’s convincing 23-point victory.

“I’m really happy and satisfied with the way we played. The boys just played really hard and the things we were supposed to do last time around, we did it right today,” said coach Derrick Pumaren as La Salle absorbed a 72-64 Game 2 win to allow a rubber match.

The story, however, was different for the Skippers as they needed Juan Gomez de Liaño’s heroics down the stretch to hold off the No. 1 San Sebastian.

Mr. De Liaño, the former Japan B.League import, scored eight of his 23 points in the last three minutes, including the game-sealing lay-up in the last 52 seconds.

He added eight rebounds and six assists while AC Soberano (14) and Jollo Go (11) cashed in help for the Skippers, who booked a D-League finals return trip after a runner-up finish in 2019 before the pandemic.

“It was really all about our team mindset. We just had the right mindset coming into this do-or-die game,” said Mr. De Liaño, also a Gilas Pilipinas stalwart.

John Edcel Rojas (17) paced St. Clare while Romel Calahat had 19 for San Sebastian as both teams failed to ride on the momentum of their Game 2 victories. — John Bryan Ulanday


The Scores:

First Game

EcoOil-La Salle 97 — Austria 26, Quiambao 16, M. Phillips 14, Nelle 7, Winston 7, Escandor 7, Nwankwo 5, Buensalida 4, Estacio 3, Blanco 3, Cortez 3, B. Phillips 2, Manuel 0.

Adalem-St. Clare 74 — Rojas 17, Fontanilla 16, Sablan 12, Estrada 10, Ndong 8, Estacio 4, Sumagaysay 4, Galang 3, Lopez 0, Gamboa 0, Manacho 0.

Quarterscores: 22-20, 52-40, 78-54, 97-74.

Second Game:

Marinerong Pilipino 69 — Gomez de Liaño 23, Soberano 14, Go 11, Bonifacio 7, Carino 6, Nocum 4, Gamboa 3, Manlangit 1, Pido 0, Bonsubre 0, Agustin 0.

Apex Fuel-San Sebastian 64 — Calahat 19, Sumoda 15, Villapando 12, Desoyo 6, Felebrico 6, Altamirano 3, Escobido 3, Are 0, Yambing 0, Shanoda 0, Cosari 0, Una 0.

Quarterscores: 7-11, 25-26, 44-43, 69-64.

With defeat to Raducanu, Serena running out of time to find form for US Open

SERENA Williams’ farewell tour suffered another bump in the road on Tuesday with a 6-4, 6-0 opening round loss to Emma Raducanu at the Cincinnati Open, one of the last tune-up events before the final Grand Slam of the American great’s career.

Williams has just one professional tournament remaining before the US Open, where she will have one last chance to tie Margaret Court’s record of 24 Grand Slam titles.

After a sluggish start in the WTA 1000 event in Cincinnati, Williams gave the sold-out crowd something to cheer about in the first set when she crushed back-to-back aces to cut reigning US Open champion Raducanu’s lead to 4-3.

But the British 19-year-old fired back an ace of her own to snag the first set and followed that up with a break of serve to open the second.

Raducanu rolled on from there, smacking an unreturnable serve on match point to end their first career meeting, setting up a clash against two-time former major winner Victoria Azarenka.

Williams waved to the crowd before walking off court and did not speak to the media later.

“I think we all just need to honor Serena and her amazing career,” Raducanu said on court.

“I’m so grateful for the experience of getting to play her and for our careers to have crossed over. Everything she has achieved is so inspirational and it was a true honor to get to share the court with her.”

Williams, who will turn 41 next month, was world number one and had already won four major titles when Raducanu was born in November 2002. She won her last major in 2017 while pregnant with her daughter Olympia, who was in attendance. — Reuters

F1 governing body approves 2026 engine regulations

LONDON — Formula One’s (F1) governing body approved engine regulations for 2026 on Tuesday, an eagerly-awaited move that could lead to the arrival of premium Volkswagen Group brands Porsche and Audi.

The International Automobile Federation (FIA) said its World Motor Sport Council (WMSC) also updated the 2022 and 2023 technical rules to address safety concerns.

The new power unit will retain the high-revving 1.6 liter V6s but have significantly increased electrical power and use 100% sustainable fuels.

The current Motor Generator Unit Heat (MGU-H) element will be removed, reportedly a pre-requisite for the Volkswagen Group brands to come in.

“The regulations are intended to make it possible and attractive for newcomers to join the sport at a competitive level,” the FIA said.

It added they were the result of a “collaborative consultation between the FIA and both incumbent and potential new PU (power unit) manufacturers.”

Media reports have indicated Porsche is planning to take a 50% stake in Red Bull Technology, the company which builds cars for the current championship leaders.

Red Bull team boss Christian Horner told reporters at last month’s Hungarian Grand Prix there was “constructive discussion” with Porsche but still plenty of caveats and hurdles to overcome.

“The first actual hurdle for any new manufacturer coming in is those technical regulations for the power unit from 2026 onwards,” he said.

The WMSC also approved changes to roll hoops, a consequence of Chinese driver Guanyu Zhou’s big crash at Silverstone, and measures to reduce aerodynamic “porpoising.”

FIA President Mohammed Ben Sulayem said significant time and resources had gone into analyzing and resolving the problem of vertical oscillation with the new generation of cars introduced this year.

The FIA will be measuring the phenomenon from the Belgian Grand Prix at the end of August. In 2023, floor edges will be raised by 15mm, a compromise agreed by teams after the FIA initially proposed raising them by 25mm.

Some teams, such as Ferrari and Red Bull, do not have a problem with porpoising and argued the initial proposals favored those who got this year wrong.

The FIA said a key finding from the Silverstone crash was that the pointed top of the Alfa’s roll hoop ripped off after digging into the asphalt when the car flipped. A rounded top will now be required.

“For 2024, the intention is to proceed to a significant overhaul of the roll hoop tests to ensure that cars in the future resist significantly more severe loads,” the FIA added. — Reuters

Golf tourney kicks off launch of sports gaming platform

AN INVITATIONAL golf tournament will kick off the launch of OKBet sports gaming platform and OKBet VIP Club at the Clark Sun Valley Golf Club in Angeles City, Pampanga.

OKBet and OKBet VIP Club are part of the flourishing Philippine gaming industry set to rival neighboring countries in terms of gaming revenue. OKBet’s presence marks an important turning point and growing confidence in the Philippine investment climate.

Owned and developed locally by Ekxinum, Inc., OKBet offers its users various sports entertainment options and aims to become a significant homegrown platform banking on the phenomenal rise of techno-abled Filipinos.

With over 10,000 events across various sports, OKBet enables sports fans to browse through all types of sports on their devices in the comfort of their own homes. From basketball to football, the platform serves the undeniable gaming appetite of this sports-obsessed nation.

OKBet VIP Club, on the other hand, currently operates gaming infrastructure facilities in PAGCOR-licensed casinos such as The City of Dreams Manila, Okada Manila, Resorts World Manila, and The Hann Casino Resort.

Both OKBet and OKBet VIP Club are committed to becoming significant gaming revenue drivers for the Philippines.  With the group’s online and physical gaming infrastructure all set to be launched in the coming months, such investments will translate to job opportunities for Filipinos as well as provide additional tax revenue for the government.

UK inflation hits double digits in July, the highest since 1982

HOT AIR BALLOONS fly over Canary Wharf in London, Britain, June 9, 2019. — REUTERS

LONDON — British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June, intensifying the squeeze on households, official figures showed on Wednesday.

The increase was above all economists’ forecasts in a Reuters poll for inflation to rise to 9.8% in July, and will do nothing to ease the Bank of England’s (BoE) concerns that price pressures may become entrenched.

Earlier this month the BoE raised its key interest rate by 0.5% to 1.75% — its first half-point rise since 1995 — and it forecast inflation would peak at 13.3% in October, when regulated household energy prices are next due to rise.

Wednesday’s figures from the Office for National Statistics showed that prices rose 0.6% in July from June on a non-seasonally adjusted basis, while the annual rate of retail price inflation hit 12.3%, its highest since March 1981.

“Getting inflation under control is my top priority, and we are taking action through strong, independent monetary policy, responsible tax and spending decisions, and reforms to boost productivity and grow,” finance minister Nadhim Zahawi said in response to the data.

Surging energy prices in Europe, in the wake of Russia’s invasion of Ukraine, are the main driver of inflation and are likely to tip Britain into a lengthy, if shallow, recession, later this year, according to the BoE.

However, there were hints in the data that future inflation pressure might be starting to abate.

Although the prices charged by factories rose by the most since August 1977, jumping by 17.1%, the increases in prices paid by factories cooled slightly, dropping to an annual 22.6% from June’s record 24.1%.

In month-on-month terms, input prices rose by only 0.1%, the slowest increase so far in 2022, partly caused by weaker global demand for steel as economic growth slows around the world and a fall in crude oil prices. — Reuters

China takes action to alleviate drought as record heatwave continues

RESIDENTS line up for nucleic acid tests during a lockdown in Shanghai, China, April 17. — REUTERS

SHANGHAI — China is taking emergency action to bring more water to the drought-hit basin of the Yangtze River, deploying relief funds, seeding clouds and developing new supply sources as a record-breaking heatwave damages crops and livestock.

The Ministry of Water Resources said in a notice on Wednesday that drought throughout the Yangtze River basin was “adversely affecting drinking water security of rural people and livestock, and the growth of crops”.

It urged regions to make accurate assessments of drought-affected areas and devise plans to maintain water supplies, including temporary water transfers, the development of new sources and the extension of pipe networks.

To boost downstream supplies, the Three Gorges Dam, China’s biggest hydropower project, will also increase water discharges by 500 million cubic meters over the next 10 days, it said on Tuesday.

Some livestock from drought-hit areas had been temporarily relocated to other regions, the Ministry of Finance said earlier this week, adding that it would issue 300 million yuan ($44.30 million) in disaster relief.

On Wednesday, central China’s Hubei province became the latest to announce an extensive weather modification program, deploying planes to fire silver iodide rods into the clouds to induce rainfall.

Other regions on the Yangtze have also launched “cloud seeding” programs, but with cloud cover too thin, operations in some drought-ravaged parts of the Yangtze basin have remained on standby.

China’s heatwave has now lasted 64 days, making it the longest since full records began in 1961, state media said on Wednesday, citing data from the National Climate Center.

The number of weather stations recording temperatures of 40 degrees Celsius (104°F) and above has reached 262, also the highest. Eight have hit 44 degrees Celsius.

Persistently high temperatures would continue in the Sichuan Basin and large parts of central China until Aug. 26, the center forecast.

A “special case” of high pressure from the West Pacific subtropical high, stretching across much of Asia, is likely to be the cause of the extreme heat, said Cai Wenju, climate researcher with CSIRO, Australia’s national scientific research institute. — Reuters

Diay de Vega: Skillful athlete with character

Asia’s fastest woman in the 1980s, Lydia (Diay) de Vega was scheduled, as we were doing this column, to be laid to rest at Pandayan Memorial Cemetery at Meycauayan City, Bulacan on Wednesday, Aug. 17. Diay’s interment was to be followed by a two-day wake at the St. Francis of Assisi Parish Church, one of the oldest parishes in Bulacan. As expected, thousands of mourners have visited the wake to say goodbye to one of the town’s favorite daughters and hometown heroes.

Diay was born in and grew up in Meycauayan where she was elected councilor in 2001. Diay was 57 when she succumbed to breast cancer on Aug. 10, after waging a quiet but brave battle against the killer disease that, according to the University of the Philippines-National Institutes of Health’s Institute of Human Genetics, claims the lives of four Filipinos every hour or 96 patients every day. Reports indicate that the Philippines has the highest prevalence of breast cancer in Asia and ninth in the world.

Diay was diagnosed with the disease in 2018 in Singapore. True to her character however, she kept her illness a secret except from her immediate family. Eldest child Stephanie, a former De La Salle Lady Spiker, said that, “Mama did not want to bother people and wanted to solve her problem herself.” Diay kept her condition so well-guarded a secret that everything seemed so normal when she appeared with other sports greats — like three-time world bowling champion and Guinness World Records holder Paeng Nepomuceno, basketball star Alvin Patrimonio — to carry a giant Philippine flag during the opening ceremonies of the 30th Southeast Asian Games.

Diay made sure that she did not appear unwell, to the point that she even took an active part in the wedding preparations of Stephanie, who married longtime sweetheart, David Abesamis Koenigswarter, a professional pilot. Diay extended her Manila trip to attend the wedding of Stephanie (or Paneng) in December 2019.

Sometime in July-August 2021, as the country geared for the presidential elections on May 9, 2022, we asked Diay if she would do a short video urging Filipinos, especially the youth, to “go out and register in order to vote” in the forthcoming elections. Diay asked for a few days to think about it. I had told her that other sports personalities like taekwondo Olympian and taekwondo world championship gold medalist Monsour del Rosario, Nepomuceno, volleyball players Mika Reyes and Jaja Santiago had agreed to do the commercial. Diay later told me that she would not be able to do the commercial because “I would rather remain in the background here in Singapore.” Hidilyn Diaz, the country’s first Olympic gold medalist graciously agreed to do the commercial a few days after winning the country’s first ever Olympic gold medal in Tokyo. The Hidilyn commercial was an instant hit, going viral a few minutes after it was posted.

Years earlier, in 2003, as I narrated in an earlier column, Diay agreed to appear on a weekly TV sports show with me called Double Team, aired on IBC 13. By the time she appeared in the weekly sports show, she had a movie to her credit, aptly called, Medalyang Ginto. Lydia and Tatang, her father-coach, played out how they achieved success in athletics. It was therefore not difficult to act out what they did in real life. It was not surprising then that Diay appeared comfortable in front of the camera and easily memorized her lines and embraced the show’s concept: two sports personalities dealing with both the technical and philosophical aspects of sport and sport as a force for good.

During breaks in the taping, Diay would express her feelings about how athletes, especially those with continuing victories, should behave and the responsibility on their shoulders. Moral character was to her just as important as skill. Daughter Stepanie’s reluctance to talk about the disconnect between skill and moral character in an athlete was consistent with her mother’s desire to refrain from commenting on those inconsistencies and anomalies. Stephanie would say, “Like Mama, huwag natin pag-usapan na (let’s not talk about that anymore).” That comment, however, revealed the moral compass by which mother and daughter were guided.

At her wake at the Heritage Chapels, I was able to spend a few moments with Diay’s husband, Paolo Mercado, who recalled those nights when he would accompany her to our taping sessions at a studio in Broadway Centrum in Quezon City. Paolo also reminisced about the night I dropped by the couple’s place in Project 4, Quezon City during the wake of their four-year-old son, Jonathan. Diay’s first son was run over by a passenger jeep while playing in front of the Mercados house on Feb. 14, 2001.

I vividly recall that precise moment when I condoled with Diay who was at a loss in understanding why her son had such a short life. I sensed that she regretted that she was not able to do enough to “prevent” the accident from happening.

Diay’s mother, Mary, after whom Maria Lydia de Vega was named, was quietly grieving as I observed her from a distance during the wake. I approached mother Mary and she said, “Napakabait ng batang ’yan.” (She was so kind). Mary narrated that Diay would often call her up from Singapore to advise her “not to work too much since there are people who can help you there.”

Twelve years the junior of her late husband, ex-policeman Tatang, Mary, now 83, rued that “instead of my child burying me, I’m the one burying Diay.” Mary added that after three sons, she gave birth to Diay, who was followed by two daughters, one of whom was adopted.

One among Diay’s ex-Gintong Alay comrades who took her passing hard was Elma Muros-Posadas. Just two years younger than Diay, Elma was considered Diay’s heir apparent although some quarters unsuccessfully tried to create a rivalry between the two. The two would not, however, oblige. To begin with, Elma was competing in different and more events. Elma was competing in the heptathlon, a grueling eight-event discipline. It was the female version of the decathlon, a 10-event discipline. Of the eight events in heptathlon, Elma excelled in long jump and was promptly accorded the title of “long jump queen.”

Diay and Elma shared the values of integrity, truthfulness, and loyalty. Even while Diay was overseas, the two would often talk for hours on Viber or WhatsApp about goings-on in the Philippines, especially in the athletics community. Both knew the real substantive issues and were not fooled by elaborately prepared and presented and glossy but untruthful narratives.

Elma wept unabashedly during the wake, saying that she had leaned on Diay for proper advice and guidance on her life as an active elite, and now a senior and master athlete. One can therefore be sure that what Elma says and does is a product of long reflection and discussion between her, Diay, and husband, coach Jojo Posadas, and fellow ex-Gintong Alay athletes like Nonoy Unso.

Those were the days.

 

Philip Ella Juico’s areas of interest include the protection and promotion of democracy, free markets, sustainable development, social responsibility and sports as a tool for social development. He obtained his doctorate in business at De La Salle University. Dr. Juico served as secretary of Agrarian Reform during the Corazon C. Aquino administration.

A new normal is dividing the global chip industry

YOGESH PHUYAL-UNSPLASH

SEMICONDUCTOR stockpiles are at a record high, and a global economic downturn is unlikely to change that picture. But an increasingly tense geopolitical environment and continued supply chain friction is dividing the largest from other semiconductor manufacturers, which could impact how well they survive.

The technology Cold War between the US and China that gained steam under the Trump administration and was exacerbated by the pandemic has reset expectations for how much product should be kept on the shelves. The global shortage of some chips peaked in 2021 after clients that included carmakers cut orders only to desperately need them a few months later. At the same time, the popularity of streaming video services such as Netflix, Inc., which were forced to expand their server capacity, and greater use of gadgets from companies like Sony Group Corp. created competition for limited manufacturing capacity.

Inventory days, a measure of how long it takes to sell and replace stockpiles, have never been higher at dedicated chip foundries Taiwan Semiconductor Manufacturing Co. (TSMC), United Microelectronics Corp. (UMC), and Semiconductor Manufacturing International Corp. Those three companies are ranked number one, three, and five in global made-to-order market share — accounting for 67% of the total. Data from Samsung Electronics Co., the second-largest foundry, isn’t analyzed here because the company doesn’t provide data for its contract chip business. Data for fourth-ranked GlobalFoundries, Inc. only dates back two years.

Digging deeper, we can see that manufacturers outside TSMC and possibly Samsung are still holding on to higher stockpiles as sales slow. At the end of June, inventory at TSMC, which accounts for around 55% of the foundry market, was equal to 40% of that quarter’s revenue. Its rivals collectively had a figure of 57%.

Even though semiconductor demand has not declined, it is weakening as consumers tighten their belts and companies, including Apple, Inc., freeze hiring or cut staff. Those chipmakers that focus mainly on older technology for mainstream use — such as components used in smartphones, computers, and televisions — are seeing a more dramatic slowdown. TSMC and Samsung, the industry leaders, are enjoying more robust outlooks for their foundry services because they can offer clients superior manufacturing processes for higher-end applications like artificial intelligence and 5G mobile communications. This competitive advantage offers a greater financial buffer, reducing the risk of holding higher inventory.

Easing the danger for the other players are long-term supply deals including those made public in recent years by both UMC and GlobalFoundries. The latter last week announced a new deal with Qualcomm, Inc. that guarantees a total of $7 billion in revenue from the Californian designer of chips used in smartphones through 2028, slightly more than GlobalFoundries’ entire sales last year. While TSMC hasn’t disclosed similar agreements, assurances that its capacity will find buyers are somewhat implicit in the company’s business model and aggressive spending plans, with management repeatedly stating that the $100 billion it’s investing over three years is based on consultation with clients in anticipation of their needs.

A raft of new policies, including a $52-billion spending package from the US Congress, is aimed at making it easier and cheaper to expand capacity in America and Europe. TSMC, Samsung, GlobalFoundries, and foundry newcomer Intel Corp. are all set to benefit.

Yet investors remain unconvinced that all this spending will support earnings. Most foundry stocks have declined over the past year, even with continued double-digit revenue growth, in large part because the high rate of spending on new facilities heightens concerns that capacity will outstrip demand if a global recession hits. That’s a reasonable concern, since semiconductor sales tend to closely track macroeconomic indicators such as growth in gross domestic product. But the new normal — a sustained higher rate of stockpiles — is also likely to worsen the divide between the biggest companies with better technology, and other chipmakers who are highly dependent on demand for mainstream products.

This changing landscape will likely mean that the strong get stronger, and the weaker struggle to hold on.

BLOOMBERG OPINION

Hands off and hands on

PAPAIOANNOU KOSTAS-UNSPLASH

THE HANDS-ON LEADER is supposed to inspire confidence and serve as the model for the rest of the organization. This workaholic chief may state in a media interview on his lifestyle and bucket lists that his favorite place on earth is not Paris or Bora. It’s his corporate office with its Bloomberg screens for trading activities around the world and access to his direct (and indirect) reports, wherever they are.

Is it necessary for the chief to work long hours to prove his fitness to serve? Don’t long hours imply the need to get into the nitty gritty and figure out where the fire exit is? Does the plunge into details make the CEO lose perspective?

Micromanagement, or the undue obsession with connecting all the dots, needs to be examined in terms of its effects on subordinates. Maybe they feel mistrusted, that they will not get things done without the boss breathing down their necks. Delegation of authority is part of effective management practice.

What’s wrong with being hands off?

There are hidden advantages for a chief executive who is not caught in a flurry of activities and trying to be everywhere, present in every event he is invited to. Shorter working hours force the setting of priorities and the proper allocation of the scarce attention span. Besides he needs to free up schedules for those who want to see him too.

When available hours for ceremonial appearances are cut back, demand needs to be more thoroughly screened. Lessening speaking engagements reduces the opportunities for not just ambush interviews but the equally hard to fend off petitions from assigned seat mates.

These soliciting encounters must be avoided. They provide the occasion of sin for blatant appeals for favors resulting in the erosion of line authority. (Sir, I have this catering service that can handle office parties, but your watchdogs are refusing me entry to see you.) Gatekeepers are at risk for obstruction of favor-seekers — is that villain still at his desk?

Micromanagers do not find any detail unworthy of attention and follow-up. The only solution for the line manager is to “slow walk” impromptu instructions from the top. This dangerous form of disobedience works only with chiefs who are forgetful or have the early onset of dementia. They forget to follow up.

Even more impressive for those who see micromanagers as heroes is the flurry of long meetings, and always being late for them. It’s a little bit like speed dating or simultaneous chess matches — move a pawn and then bang on the stop clock and hurry to the next board.

The principle of need-to-know or its corollary of need-to-consult makes fewer meetings with fewer people possible. Does the chief call town hall meetings when smaller and shorter meetings will do? While somebody is presenting his litany of woes or trumpeting his little triumphs (we have installed a fogging machine in the lobby) the others are getting set for their turn and reviewing their own charts.

Long hours of attending meetings, showing up at events, reviewing reports to put one’s marginal notes (more study needed) can earn the leader the accolade of being a hardworking and hands-on manager. One must properly allocate the value only the chief executive can add when scheduling his attendance.

For the nation’s leader, it is the symbolic might of his office which defines what is critical to the country, maybe pushing through an unpopular but needed policy or going against entrenched political interests, like removing tax incentives, or simply paying his taxes.

Does a visit to a disaster area really fluster the local executives and distract them from their rehabilitation work by attending to visiting dignitaries? Or is it a way of showing the concern of a leader?

The optics of the chief’s presence are critical. Showing up at events like disasters from natural calamities or the declaration of a corporate default shows who’s in charge. And this must be done at the time of the crisis, not long afterwards.

Still the best use of hands (off or on) is the middle way, where the chief understands enough details without losing his sense of priorities. By wisely allocating his time, the chief does not devalue his presence or absence in big or small meetings, including one-on-ones with no media present.

The chief should dive into both the forest and the trees and understand that sometimes… some twigs need pruning.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

TaskUs PHL doubles in size over pandemic

TASKUS.COM

Business service providers like TaskUs, Inc., benefitted from the pandemic, said Jaspar Weir, co-founder and president the Texas-headquartered outsourcing and offshoring consulting company. Its Philippine workforce, spread over 10 sites, has doubled since coronavirus disease 2019 (COVID-19) struck.  

“When people get comfortable working at home, it no longer matters if somebody works in the office next to you or … anywhere in the world. Outsourcing in general wins,” he said, adding that clients have expanded their outsourcing requirements in low-cost destinations like the Philippines. 

The Philippines is “the premier place” for services like English support, content moderation, and data operations, he added. 

At a roundtable discussion on Aug. 15, Kris G. Mandap, vice president of operations of TaskUs Ortigas-Phoenix, said that there are over 27,000 employees in the country at the end of 2021, more than double the workforce prior to the pandemic.

“We are able to provide livelihood for a lot of people,” he said. 

Fueling that growth are the company’s learning experience services, as well as its risk and response solutions that focus on fraud, risk, and compliance.  

Providing e-Learning systems and development programs was born out of a client request that TaskUs take over its in-house training after they observed that the outsourcing company was “doing a good job training its people.”  

“We commercialized that offering. We’re always looking at new services that clients ask for,” Mr. Weir said, adding that this also provides advancement opportunities for TaskUs employees. 

Dean Van Ormer, TaskUs’ senior vice president and head of the Southeast Asia region, said that employees stay with the organization because they have multiple ways to move up. 

“We have a whole academy designed so — if they want to move up through first-, second-, third-level management — this is all at their disposal,” he said. “If they want to invest the time to do it, we invest the resources to educate them.”  

The key differentiator for TaskUs, Mr. Weir added, has been realizing that “creating jobs that people love going to … is a good business model.”  

TaskUs’ first office was located above a vulcanizing shop alongside Aguinaldo Highway, Cavite. Conceived in 2008 as a virtual personal assistant company, Mr. Weir and co-founder and Chief Executive Officer Bryce Maddock eventually decided to develop TaskUs into a business servicing high-growth startups.  

“We realized that if we can attract the best people, then those people can deliver the best work for our clients,” Mr. Weir said. “As long as we keep investing in that employee lifecycle, it pays back.”  

TaskUs (Nasdaq: TASK) reported on Aug. 8 second quarter total revenues of $246.5 million, representing 36.9% of year-on-year growth. In the same period, the company generated 51% of its revenues in the Philippines. — Patricia B. Mirasol