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AllHome to boost sales through new channels

HOME IMPROVEMENT and furniture retailer AllHome Corp. expects sales to grow in the coming months through new shopping channels and through ties with its sister property company.

In a statement on Monday, the company said it has a captive market through homeowners and homebuilders of Vista Land & Lifescapes, Inc., which is part of the Villar Group.

Vista Land has about 500,000 homes in its portfolio, spread across nearly 150 cities and municipalities, which gives AllHome access to buyers seeking to improve their houses during a coronavirus lockdown.

“Our retail businesses are hinged on our knowledge and deep understanding of the growing families we have living in our communities,” AllHome and Vista Land Chairman Manuel B. Villar, Jr. said in the statement. “This gives us a unique perspective when deciding what to offer and how to sell to our customers.”

AllHome sales fell by 4% to P4.85 billion in the first half from a year earlier as its stores remained shut after the government locked down the entire Luzon island in mid-March to contain a coronavirus pandemic.

The company said it was satisfied with its performance because it remained resilient during the health crisis. Among its initiatives were opening an e-commerce platform and using its ties with Vista Land.

AllHome also benefits from the 3,000-hectare land bank of Vista Land as it expands its retail stores. The company earlier said it was ready to fast-track the construction of new stores when the opportunity opens up.

“With all branches situated close to residential developments, AllHome becomes a natural and preferred option for homeowners because of ease of access, especially during the current pandemic,” it said.

AllHome earnings fell by 37% to P275.65 million in the first half from a year earlier due to reduced sales from its construction segment.

It shares closed 0.98% or six centavos higher at P6.20 apiece on Friday. Trading was closed on Monday, a holiday. — Denise A. Valdez

Thanks to pandemic, luxury hotels become home for rich Americans

AFTER a very quiet spring, Julie Danziger, the managing partner of travel advisory Embark Beyond, spent the greater part of June and July booking compelling domestic alternatives for her clients, who normally favor Italian villas and Greek resorts at the end of summer. But something strange happened in August: No one was ready to go home.

“Suddenly, all of my clients were asking where they could spend the rest of the year,” she explains, citing specific queries about Cape Cod, Massachusetts; Cabo San Lucas in Mexico’s Baja, California; and Saint Barthelemy.

The majority of Danziger’s New York-based clients have secondary residences in New York’s Hamptons or along the New Jersey Shore — and oftentimes a third in Florida or Aspen, Colorado — but none of them showed interest in their auxiliary properties. Instead, they wanted a pseudo fourth home: a hotel.

Living in hotels is by no means a new idea; a handful of storied properties in New York and Los Angeles have hosted actors, artists, and other bon vivants for long-term stays over the decades. The idea had a resurgence at the pandemic’s start, when stranded vacationers tried to ride out quarantines wherever they’d taken spring breaks.

But with work-(and school)-from-home mandates stretching into the foreseeable future, many Americans are finding themselves untethered to their primary residences. They are interested in multimonth hotel bookings that could stylishly bypass a cold-weather span of locked-down living.

To deal with the onslaught of requests, Ms. Danziger put together a spreadsheet of everything a long-stay guest might need: laundry service, a parking space, easy breakfast options. Then she started asking resorts for preferential pricing. It didn’t take much convincing. Even hotels and resorts that ordinarily never move the discount dial were keen to start recouping losses by booking long visits; what Ms. Danziger proposed would not only fill their rooms for multiple months but breathe life into their food and beverage offerings.

“I’ve been getting quotes for 30%, 40%, and even 50% off the best available rates for one- to three-month stays at coveted places like Amanyara, the Four Seasons Anguilla, and Montage Laguna Beach,” Ms. Danziger adds. As a result, she’s created Embark Longer, a spinoff brand for her agency to streamline the plethora of long-stay queries that continue to pour in.

Ms. Danziger isn’t the only one up to her eyeballs in multimonth hotel bookings. A quarter of the guests at Timbers Kaua’i in Hawaii are currently booked in for stays longer than 30 days; Gurney’s Montauk, normally a weekender haven in New York’s Long Island, also reports multiple visitors bedding down for an entire month. After a surge of interest, Ocean House in Rhode Island anticipates at least three long-stay families for the fall.

Demand has been so strong that some hospitality companies are formalizing brand-wide offerings. Take Auberge Resorts, which owns 19 hotels around the world, including the newly renovated Mayflower Inn & Spa in Connecticut and the adventure-centric Madeline Hotel in Telluride, Colorado. A two-month booking at those hotels can come with a 30% to 40% discount on the nightly rate, along with private tutoring services for kids. Some package deals include personally stocked in-room kitchenettes, pet care and laundry. The chain has experienced a 300% increase in the length of guests’ stays.

THE LOST YEAR, FOUND
International tourism is still highly limited for Americans, but all is not lost for those who want to live the expatriate life on an island. As part of Barbados’s tourism rebuilding plan, the Caribbean island-nation announced a 12-month Welcome Stamp initiative in late June; for a $2,000 fee, visa holders can work remotely, tax-free, for a full calendar year. To help stamp holders settle in, the Hilton Barbados Resort is offering room rates that start at $2,500 a month, with the opportunity to grab office space with a beach view and use the hotel’s dedicated shipping services.

Similarly, Bermuda’s newly announced Work From Bermuda certificate encourages digital nomads to move right in for $263. Sascha Hemmann, managing director at the island’s Rosewood Bermuda, says he’s “prepared to negotiate a competitive rate” for extended stays.

The first deal he signed included six weeks in an Ocean View King room with deeply discounted spa and laundry services and a private golf cart to get around the island. (The price is undisclosed.)

The same is happening in urban hotels. Even with a 30% discount, a recently booked year-long stay at Rosewood Miramar Beach’s two-bedroom residence in Montecito, California, would cost roughly $1.1 million. And both the Beverly Hills Hotel and the Hotel Bel-Air in Los Angeles have seen an uptick in 90-day bookings since the advent of COVID-19 — mostly from L.A. natives.

“These guests do not feel safe in [their own] homes with staff members coming in and out, without proper protocols in place,” explains Ed Mady, the regional director of the Dorchester Collection, which manages both properties. By contrast, Mr. Mady’s hotels each have an on-site nurse, as well as a dedicated director of risk management to ensure full compliance with Centers for Disease Control and Prevention guidelines.

Ms. Danziger is seeing extended staycation requests in New York, too, including a three-month stint at the Mark and a two-month sojourn at the Carlyle by native New Yorkers.

“Hotels are being really transparent with their rigid safety procedures because they can’t afford to mess up,” Ms. Danziger says, as the trust factor offered by a luxury property fast becomes as much of a draw as the destinations.

“People now want the protection, comfort and convenience of a hotel, instead of a standalone home,” she adds. “And after the stress of the last six months, who isn’t ready to move in and be pampered by a hotel?” — Bloomberg

New Mutants is top film in US while Tenet rules world

MOVIEGOERS in the US, the world’s largest film market, will have to wait to see the first major Hollywood release since the March shutdown, one that has already won the top-grossing spot among international audiences.

The time-travel thriller Tenet was the biggest picture globally, taking in $53 million this weekend across 41 international markets. But the film won’t appear until next week in the US, where Walt Disney Co.’s New Mutants debuted as No. 1 at the domestic box office this weekend.

The strong number for Tenet shows that moviegoers overseas have become more comfortable to return to theaters. The Christopher Nolan-directed Warner Bros. movie delayed its US debut until Sept. 3 in response to the country’s relatively slow recovery from the pandemic. The studio took the unusual move of releasing it outside the US first and plans to keep it in theaters longer than the usual two or three months.

As the biggest draw domestically, the long-delayed — and critically panned — New Mutants generated $7 million in US ticket sales and $9.9 million globally, researcher Comscore, Inc. said Sunday.

The New Mutants debut marked one of the lowest-ever box-office takes for a major Disney film. But measures of success have changed in the coronavirus era, especially with theaters in New York and California mostly still closed. Last week’s No. 1 film, the independent studio release Unhinged, took in only $4 million in North America.

SLOW REOPENING
The improving box-office performance partly reflects a wider swath of theaters being open again. Almost 50% of all locations in the US and Canada had reopened as of this weekend, up from one-third as of last weekend.

But it also shows moviegoers responding to the theaters’ more-frequent cleaning and other steps. Owners have had to limit ticket sales to adhere to social-distancing rules, slowing any recovery. Movies that opened in international markets did better than those only in the US.

Little Women, a film by Columbia Pictures and actress Greta Gerwig that premiered back in December, raised its cumulative global ticket sales this weekend to $216.6 million, with international audiences contributing half of the sales.

DISNEY STRATEGIES
Disney’s strategy for its films this year shows what an odd time it is for the movie business. The New Mutants, which follows a group of extraordinary teens, is opening exclusively in theaters. But next week, Disney will release its highly awaited live-action film Mulan on the Disney+ streaming service for $30.

While most potential blockbusters have been delayed, studios are using the pandemic to test new distribution models. Universal Pictures’ Trolls World Tour was released online and performed well with at-home audiences.

This weekend, Metro-Goldwyn-Mayer opted to release Bill & Ted Face the Music on demand and in some theaters. Alamo Drafthouse offered guests free showings of the movie earlier this week, as part of its reopening plans. The film, produced at a cost of $25 million, generated $1.06 million in ticket sales this weekend, Comscore said. — Bloomberg

Thrift, rural banks back proposed tweaks to Agri-Agra credit quotas

THE Agri-Agra Law requires banks to disburse 25% of their loanable funds to the agriculture and agrarian reform sector. PHOTOGRAPHER: VEEJAY VILLAFRANCA/BLOOMBERG

SMALL LENDERS expressed support for the central bank’s proposal to include sustainable financing as part of their compliance with the mandated credit under the Agri-Agra Law as this will help boost the capital of pandemic-hit businesses geared towards sustainability.

Rural Bankers Association of the Philippines (RBAP) President Elizabeth C. Timbol said allowing banks to count green loans as part of their Agri-Agra (agriculture and agrarian) compliance will broaden business opportunities for borrowers and farm owners.

“They will be encouraged to make their farms more productive. Also, by making their farms as tourism sites will help generate employment within their locality,” Ms. Timbol said in a Viber message.

She added the proposal can create a ripple effect in the economy amid job losses among Filipinos here and abroad amid the coronavirus pandemic.

Chamber of Thrift Banks (CTB) Executive Director Suzanne I. Felix also expressed support for the proposal.

“Green financing as a mode of compliance with Agri-Agra is a signal for banks to refocus their strategy towards sectors and activities that support sustainable recovery, and should provide various opportunities for them,” she said in an e-mailed reply to questions.

Ms. Felix said they also support House Bill 6134 which seeks to amend the Agri-Agra Law to include green finance projects as compliance with the credit quota. The bill has been approved by the House of Representatives and was received by the Senate in March.

Meanwhile, Senate Bill 1585 filed on June seeks to amend the Agri-Agra Credit Act by including investments and grants for agriculture activities as part of the mandated credit. It also seeks to remove the distinction between agriculture and agrarian reform lending and to include fishery activities, agriculture mechanization, agri-tourism and green finance projects as part of compliance. The bill is still pending in the Senate.

“We trust that legislation on Agri-Agra lending will continue to be adjusted to realistic levels, for the good not only of the farmers but of the Filipino people. Instead of imposing penalties, we earlier proposed the granting of incentives to encourage banks to lend to the Agri-Agra sector,” Ms. Felix said.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno last week  said they are looking at counting financing for green and sustainable projects as compliance with Republic Act 10000 or the Agri-Agra Reform Credit Act.

The law requires banks to disburse 25% of their loanable funds to the agriculture and agrarian reform sector in a bid to boost productivity and growth.

Mr. Diokno said they observed banks would rather pay the 0.5% penalty instead of complying with the agriculture and agrarian reform lending quotas of 15% and 10%, respectively, as these sectors are considered high risk. Banks’ credit to the agriculture and agrarian reform segments were only at 10.8% and 1.09%, respectively, of their total loan book, he added.

In May, the BSP issued Circular No. 1085 which lays out a sustainable finance framework for banks. Lenders will be given three years to streamline their operations in accordance with the framework, which is based on sustainability principles through environmental and social risk management systems.

BSP data showed 10.6% of the banking system’s total loans in 2019 were disbursed to finance projects that are in line with the Sustainable Development Goals of the United Nations. — Luz Wendy T. Noble

Wellness product reseller allowed to resume sales

THE Securities and Exchange Commission (SEC) has allowed JOCALS688 Beauty and Wellness Products Trading, Inc. to resume operations after it was ordered shut for illegally soliciting investments.

The corporate regulator granted the wellness company’s plea to reopen provided it limits itself to the sale of its products, according to a copy of an order posted on its website.

The company resells beauty and wellness products, coffee, juice and herbal products. It also offered a “Buy and Earn Program” that promised returns if one recruited more members.

The SEC classified this as unauthorized sales of securities and solicitation of investments. It ordered JOCALS688 closed in May.

The regulator said the company’s registration only allows it to sell merchandise and bars it from soliciting investments and issuing investment contracts.

JOCALS688 then sought to lift the shutdown order in June. Pending a decision on such motion, it filed another plea in July to be allowed to resume operations.

It said there was a “demolition job” against it, hence the anonymous tip that triggered the SEC investigation. The company said its products have been approved by the Food and Drug Administration.

Aside from JOCALS688, other companies that the SEC shut down this year for selling securities without a license were Building Our Success Stories Network, Inc.; Fast Track Worldwide, Inc.; CROWD1 Asia Pacific, Inc.; Lion City Finance Group, Inc.; and Payasian Pte. Ltd. Corp. — Denise A. Valdez

South Forbes Golf City township continues expansion

CATHAY LAND, INC. is continuing to expand its master-planned township South Forbes Golf City, located in the Silang-Sta.Rosa-Tagaytay area.

Jeffrey Ng, president of Cathay Land, is anticipating a shift in preferences for Filipinos when deciding to look for a home amid the new normal.

Cathay Land is hoping to take advantage of the demand with its focus developing low-density communities “where one can live, work, and play.”

“Our clients can invest in South Forbes and experience a better quality of life… Ultimately, a better quality of life for the family, due to cleaner air, greener surroundings, minimal commutes and more quality time with the family, is what we all aspire for as we slowly embrace the new normal” Mr. Ng said in a statement.

South Forbes Golf City hosts eight boutique communities, the Westborough Town Center, and the 18-hole South Forbes Golf Club.

South Forbes Cyber Park, located next to a church and a college campus, will soon host business process outsourcing (BPO) companies. A Philippine Economic Zone Authority-accredited IT park, the BPO locators can avail of income tax holidays, tax- and duty-free importation of capital equipment, and special visa status for expatriates and their immediate family, among others.

The township also features several mixed-use, mid-rise residential condominiums with Stanford Suites 3 and Fullerton Suites under construction.

Indonesia drive-in concert delivers live music as coronavirus rages

JAKARTA — As night fell in the Indonesian capital, pop ensemble Kahitna took to the stage for a drive-in concert nearly two hours long that attracted eager listeners in rows of hundreds of parked cars.

The eight performers played yearning, sentimental tunes, capitalizing on patrons’ nostalgia for the group’s 1990s heyday, with listeners honking and flashing their lights as the band launched into its hit tune, “Cerita Cinta” or “Love Story.”

That was a reminder of the good times before the coronavirus pandemic brought the music industry to a juddering halt, said Chaeruddin Syah, one of the concert organizers.

“Our economy has declined for four to five months, we have not worked at all and have not made any money,” Syah told Reuters.

“We hope this concert can provide solutions and inspiration to the entertainment industry.”

Indonesia, which is grappling with a surge in virus infections, racked up its biggest daily increase in cases for a third straight day on Saturday. The Southeast Asian nation has tallied about 170,000 infections and 7,261 deaths.

The organizers of Saturday’s event said they had prioritized safety, asking listeners to provide negative test results and wear masks.

The concert, which was to be followed by another on Sunday, drew a crowd of about 900 people in 300 cars, all of whom had to stay in their vehicles.

Each car tuned into an FM radio channel to hear the concert. Each was sprayed with disinfectant on arrival, and received a carbon dioxide detector to alert occupants to open their windows if levels of the dangerous gas rose too high.

“This concert is an extraordinary initiative,” said one listener, a 45-year-old who gave her name only as Emilia.

“This is really good, especially when we don’t know when the pandemic will end.”

A city of 10 million, Jakarta has recently recorded the highest daily increase in infections among Indonesian regions, and maintains curbs on public transport and businesses, although this week it’s governor said cinemas would reopen soon.

The adverse impact of the virus had forced musicians and their crews to adapt, said Adib Hidayat, who tracks music trends for the Indonesian industry.

“If the (drive-in) concept could have a strict protocol and a tight discipline from the audience, it could be one of the new breakthroughs,” he told Reuters. — Reuters

Credit Suisse planning to double China headcount

CREDIT Suisse plans to double its headcount in China over five years. — REUTERS

CREDIT SUISSE Group AG plans to double its headcount in China over five years as the firm accelerates its pursuit of the nation’s wealthy, seeking to move past a scandal that’s engulfed once-favored client and Luckin Coffee Inc. founder Lu Zhengyao.

The bank has largely normalized approvals for Chinese companies, ending the increased scrutiny on loans that followed allegations of fabricated earnings at Luckin and a slowdown to weigh the impact of Covid-19. Credit Suisse will add to its China workforce as it targets a 100% increase in revenue there, Asia Chief Executive Officer Helman Sitohang said in an interview. Its China securities venture had 154 staff at the end of last year, and the lender also offers financing, trading, wealth and asset management on the mainland.

Much of the firm’s build-out will focus on expanding advisory and investment banking services for the ballooning ranks of China’s rich. Sitohang’s plans are key to Credit Suisse meeting its goal of doubling the contribution to revenue growth that comes from ultra high net worth strategic clients over the next three years. Separately, the lender has embarked on a wide-ranging assessment of risk controls following a series of deals linked to troubled companies including Luckin.

“China is our strongest focus when it comes to headcount, and infrastructure growth compared to any country in the world,” Sitohang said. “The worst of COVID’s impact on the region’s business activity is behind us,” he said, referring to Asia.

Asia’s largest economy has the most millionaires after the US and its financial opening this year has presented global banks and asset managers with an unmatched opportunity for expansion. Credit Suisse wants Asia to make up 25% of group revenue in a couple of years, from 17.5% now, people familiar with the matter said, declining to be named discussing internal matters.

The downfall of Starbucks Corp. rival Luckin and its billionaire founder blindsided Credit Suisse and other lenders, who are fighting to recoup losses on more than $500 million in margin loans. The Swiss bank, the lead underwriter for Luckin’s public offering, launched an internal review though Chief Executive Officer Thomas Gottstein has said it will continue to target China’s wealthy entrepreneurs.

RECORD REVENUE
On the investment banking side, Credit Suisse in April became one of the latest global firms to win approval to take full control of a venture it has run with Founder Securities since 2008. Tim Tu and Daniel Qiu were this year named as CEO and head of investment banking and capital markets respectively for the China joint venture, which has so far struggled with revenue of $22 million last year.

About 30 bankers at the joint venture were pushed out in July as Credit Suisse plans to recruit fresh talent, a person familiar said.

The Zurich-based bank’s latest earnings point to other successes in its Asia push, with net new assets in the region’s private banking business swelling by 80% in the second quarter amid a trading boom. Wealth and investment banking advisory, the biggest growth areas, both posted record revenue in the first six months, driven by growth in China as markets recovered.

Sitohang, who has spent years turning around the Asian trading operation, ceded oversight of the unit in a global restructuring that’s folding trading into a new investment bank. The region’s markets division posted a 54% jump in revenue in the first half.

Gottstein announced the revamp at the end of July. The initiative includes a new cost savings program, a merger of its advisory and trading business and as many as 500 job cuts in Switzerland.

“The capital released doesn’t happen overnight, but the efficiency that we expect on the cost side as well as on the capital side will be deployed back into the wealth management,” he said. “Asia will be a priority.” — Bloomberg

DMCI Homes to start 3 projects before yearend

DMCI HOMES plans to start residential developments this year as it remains bullish about the property market amid a coronavirus pandemic.

In a statement, the property arm of listed DMCI Holdings, Inc. said it was finalizing plans for a new residential project at its 150-hectare Acacia Estates in Taguig City. It is also studying new projects in Makati and Manila.

“Sales of our projects are still encouraging despite current circumstances which gives us confidence to launch two to three new properties before yearend,” DMCI Homes President Alfredo R. Austria said in the statement.

“Acacia Estates is always on our list because of the strong residential demand in the area,” he said. The company is also working on permits to use its land bank in Makati and Manila, he added.

The new project in Taguig City called Alder Residences will be a high-rise condominium standing on 28,607 square meters of land, according to DMCI Homes’ website.

The company said it would continue developing the Acacia Estates township as its recently finished project — Mulberry Place — was quickly sold out within weeks from launch.

The 13-year-old Acacia Estates is home to more than 8,000 families. It is near McKinley Hill, Bonifacio Global City, Makati City and the Ninoy Aquino International Airport.

Aside from residential properties, the township also features a 22,000-square-meter commercial space with restaurants, salons, gyms and a supermarket.

“Through the years, DMCI Homes has continuously developed Acacia Estates to bring the necessities of modern living to the residents,” it said.

The property developer posted a 97% profit decline to P38 million in the first six months as its operations were disrupted by the coronavirus pandemic.

Income at the whole DMCI group, which has businesses in mining, construction, water and power plunged 69% to P2 billion from a year earlier. — Denise A. Valdez

Robinsons mall gets e-jeepney terminal

ROBINSONS MALLS teamed up with the Mandaluyong Transport Group for the establishment of a modernized jeepney terminal at Forum Robinsons.

The e-jeepneys will ferry passengers to and from Forum Robinsons Complex to Kalentong/JRC, Monday to Sunday. Trip intervals are every 30 to 40 minutes.

E-jeeps can accommodate a maximum of 13 passengers. Drivers can pick up passengers along the way but the drop-off is allowed only at designated jeepney stops.

The Mandaluyong Transport Group installed plastic barriers between passengers and requires all passengers to leave their details on a safety manifest for contact tracing.

Hollywood’s diversity push has left out one important group

OVER the years, Marilee Talkington, who is legally blind, has repeatedly auditioned for TV shows featuring a character who is blind. But several times, the same thing happened. The part went to an actress who was not blind.

“It’s a punch to the gut,” she said. “If you’re white and playing a person of color, do you know how offensive that is? We need to look at disability the same way.”

As Hollywood faces another reckoning over its lack of diversity, disabled actors are hoping this time they’ll be included in the conversation. Studios are under pressure to address racial and gender inequality. But the industry’s failure to create more disabled characters — and to cast actors with disabilities in those roles — has received much less attention.

People with disabilities represent about 20% of the U.S. population. Yet just 3% of regular characters on TV shows have a disability. Of the disabled characters on TV and streaming services, more than three-fourths were played by actors who don’t have the same disability, according to the Ruderman Family Foundation. Advocates say such casting decisions are insulting and take away opportunities from disabled performers.

“Trying to find an authentically played disabled character on screen is like trying to find Waldo,” said Maysoon Zayid, a comedian who has cerebral palsy and has a recurring role on “General Hospital.” “I don’t think Hollywood can truly be considered inclusive until they stop the horrid practice of casting non-disabled actors to play visibly disabled roles.”

There are signs the industry is starting to change. Steve Way, a comedian who has muscular dystrophy, has a part on Ramy, a comedy on Hulu about a young American Muslim struggling with his faith. Talkington has a recurring role on the first season of See, a science fiction show on Apple TV+ in which the human race has lost the sense of sight. In December, Netflix ordered a second season of Special, a show starring Ryan O’Connell about a young gay man who has cerebral palsy. And in the upcoming film The Eternals, Lauren Ridloff, a deaf actress, will play Marvel’s first deaf superhero.

Yet all too often, advocates say, the roles of disabled characters are given to non-disabled actors like Bryan Cranston, who played a quadriplegic in The Upside, or Dwayne “The Rock” Johnson, who played an amputee in Skyscraper. Over the years, Hollywood has frequently honored non-disabled actors portraying disabled characters with Oscars, from Dustin Hoffman in Rain Man to Eddie Redmayne in The Theory of Everything.

“Every single time a non-disabled actor is cast in a disabled role is a step backwards,” said Ryan J. Haddad, an actor who has cerebral palsy and plays a student on Netflix’s The Politician. “Before you even get to the audition process, you need to say ‘If I’m writing this character it will be played by a disabled actor and that’s it. There’s no other option.’”

Advocates say there would be financial and social benefits to having more actors with disabilities on screen. Disabled consumers represent a $1 billion market and putting more, better-written disabled characters on screen could help change cultural attitudes, just as Will & Grace and Orange Is the New Black are credited with shaping mainstream perceptions of LGBTQ issues.

Some disabled actors are hopeful the Black Lives Matter movement will lead to more inclusion of all marginalized groups in Hollywood. Others remain skeptical, having seen people with disabilities overlooked during such initiatives before. “A couple years ago, when the Oscars put out that statement on diversity, disabled people were completely left out,” Way said. “It wouldn’t surprise me if it happens again.”

For many disabled actors, Hollywood can be a difficult place to navigate physically. Studios lots are large and filled with steps and wires. Dressing rooms and audition sites are often not accessible by wheelchair. “There are times when I’m on an audition and I can’t get in the building,” Way said.

Non-disabled writers often fail to capture the nuances of living with a disability. Two years ago, Zayid sold a semi-autobiographical comedy series to ABC. But because it was her first TV show, she was assigned to work with a veteran head writer, who was neither disabled nor Muslim. The resulting script, she said, “was stereotypical, offensive and what the disability community calls ‘inspiration porn.’” The show was never made. “I am forever thankful, because it was awful,” she said.

In January, the Ruderman Family Foundation, a Boston-based advocacy group, wrote an open letter calling for more casting of people with disabilities, signed by several major stars, including George Clooney and Olivia Munn. The group’s president, Jay Ruderman, has asked all the major U.S. media companies to pledge to audition and cast more performers with disabilities. So far, only CBS has agreed.

“The fact that I can only name one corporate leader who has come forward and said ‘This is the right thing to do,’ is pretty sad,” Ruderman said.

In 2018, the Casting Society of America held an open casting call for hundreds of actors with disabilities. David Caparelliotis, a casting director on NBC’s medical drama New Amsterdam, said such outreach efforts are necessary because actors with disabilities can be hard to find on short notice. “They simply are not represented by talent agencies and managers as much as they should be,” he said.

Gail Williamson, who does represent disabled actors at the talent agency Kazarian/Measures/Ruskin & Associates, said the agency’s clients with disabilities have seen their earnings grow from $50,000 in 2013 to over $3 million last year. “In the last five years, I’ve seen more forward movement than in my first 25 years of doing this,” she said. Even so, she said, too few writers’ rooms include people with disabilities, leading to less authentic characters.

Advocates say there needs to be more well-rounded roles for actors that have little or nothing to do with their disabilities. “We need more stories that don’t just involve a disabled person wanting to kill themselves or lose their virginity,” Way said.

Such portrayals can be done right. During the first season of Netflix’s The Politician, Haddad’s character only refers to his disability once. “It wasn’t the only reason I was there,” he said. “It was refreshing to just have my walker and be in the story and not have my arc be obsessively about cerebral palsy.” — Bloomberg

Mandatory retirement plans to boost life insurers

THE DEPARTMENT of Finance’s proposal to require companies to set up mandatory retirement plans for their employees will help expand the insurance market to micro, small and medium enterprises (MSMEs), officials said.

“I think requiring companies to set up a mandatory retirement fund for employees would be a welcome development for life insurance companies as such would create an expanded market via the industry’s potential engagement into limited trust business,” Sun Life of Canada (Philippines) Inc. CEO and Country Head Benedicto C. Sison said in an e-mail.

He said the proposal will benefit employees of MSMEs who do not usually qualify for tax exemptions on their contributions to company retirement plans.

“Generally, only the big companies are able to enjoy tax-qualified retirement plans. MSMEs don’t usually have them because of the challenge of complying with the minimum annual contributions required by universal banks,” Mr. Sison said.

“If given a limited trust license by the BSP (Bangko Sentral ng Pilipinas), life insurance companies could service the underserved MSMEs that account for 99.56% of business establishments in the country at 1.42 million,” Mr. Sison said.

Pru Like UK President and CEO Antonio G. de Rosas said in an e-mail that most life insurers are capable of engaging in this business.

“Currently, they have difficulty in selling tax-exempt retirement products and this amendment to the Insurance Code should help remove current obstacles experienced,” Mr. De Rosas said in an e-mail.

“I think it’s just a matter of timing because of the work and coordination which need to be done by multiple regulators such as the BSP, Insurance Commission and the BIR (Bureau of Internal Revenue),” Mr. De Rosas said.

The officials of the insurers said they hoped the concerned government agencies will soon complete the guidelines for retirement plans of insurance companies.

Finance Secretary Carlos G. Dominguez III earlier said the Capital Market Development Council, which he co-chairs, is studying the recommendation of the Fund Managers Association of the Philippines to require the partial or full funding of retirement plans for private sector workers.

The BIR allows a company to appoint a trustee, usually from a bank, to manage and grow its retirement fund through various investments for the welfare of its employees. The BIR excludes final taxes on interest income from investments based on the type of benefits under the retirement plan and amount of benefits given by the company, among others.

This complies with the Retirement Pay Law requiring private corporations with at least 10 employees to provide them retirement funds.

Meanwhile, under Section 429 of the Amended Insurance Code, insurance firms can also set up a trust entity for retirement and pre-need plans separate from their insurance business. They must acquire a license from the BSP and approval for tax exemption from the BIR before the trustee can operate. — Kathryn Kristina T. Jose