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#MeToo drove rise in CEO firings in 2018: report

THE NUMBER of corporate leaders fired for #MeToo-related misconduct rose in 2018 while the number of S&P 500 companies led by females fell 20%, according to a report from US think-tank the Conference Board.

Firings of S&P chief executive officers related to the social media movement accounted for five of 12 dismissals last year, according to the report, published on Wednesday. In contrast, just one CEO was dismissed for personal misconduct between 2013 and 2017, it said.

The percentage of departures which were non-voluntary rose 8 percentage points from 2017 to 30.5%, the report added.

It also showed the number of women CEOs falling to 22 from a record 27 in 2017. Last year, Kathy Warden of Northrop Grumman was the only woman appointed to a top job.

Scrutiny of executives and their treatment of employees has intensified in light of the #MeToo movement, which has spurred more scrutiny of top managers’ relationships with employees.

The Conference Board said that departing executives had also tended to serve longer in their roles before leaving. In 2018, outgoing CEOs had been in their roles for an average of 10 years, compared to a low of 7 years during the financial crisis.

“The rate of succession among older chief executives continues to climb, and there are still more CEOs aged 75 and over than there are CEOs under the age of 45,” said Matteo Tonello, the principal author of the report, who oversees the think tank’s environmental, social, and governance research. — Reuters

AirAsia PHL looking to acquire A321neo

By Arjay L. Balinbin, Reporter

HAMBURG, Germany — Philippines AirAsia, Inc. is looking to acquire an Airbus A321neo, an aircraft designed to reduce fuel consumption by 20% and accommodate more passengers.

This announcement comes after Malaysia-based AirAsia Group Berhad received its first of 353 A321neos ordered from Airbus at a delivery ceremony here on Wednesday.

Philippines AirAsia Chief Executive Officer Ricky P. Isla said the low-cost carrier is currently in the process of “concretizing plans to purchase an A321neo” from Airbus.

“We continue to achieve our operational goals with our existing 24 A320s. Investing in newer additional aircraft will be advantageous for any airline in a slot-constrained environment,” he told reporters here.

AirAsia Group will initially use the new A321neo for flights from Kuala Lumpur to two domestic destinations such as Kuching and Kota Kinabalu and three international flights to Singapore, Bangkok, and Shenzhen.

Mr. Isla noted that the A321neo, which has 50 more seats compared to the previous A320neo, provides “opportunities to offer even lower fares to flying guests.”

“Eventually, majority of our aircraft will be A321neos and this is across the whole fleet,” AirAsia Group Aircraft Planning & Evaluation Head Matthew Glaus told reporters on Tuesday.

Limited airport slots, particularly in Manila’s Ninoy Aquino International Airport, are a consideration in tapping these A321neos.

“So any airport that’s suffering today, it’s gonna have an opportunity to see A321neos… Another thing, we see strong demand in terms of passengers. Eventually, the standard will be the A321neo aircraft across our fleet including the Philippines,” Mr. Glaus said.

In his speech during the delivery ceremony on Wednesday, A320 Family Programme Head Michael Menking of Airbus said: “Following the first A321neo, more deliveries to AirAsia will begin and it will continue for quite some time as the airline has ordered a total of 353 A321neo aircraft.”

He noted that the A321neo is a response to the “ongoing strong demand” across AirAsia’s network and “to open up new routes, enabling more people to fly further at a lower cost than ever before.”

AirAsia Indonesia Chief Executive Officer Veranita Yosephine said the A321neos will allow the company to grow further and become the largest low-cost carrier in Asia.

“I’m looking forward to how the A321neo can contribute to our expansion network in Indonesia,” she added.

Airbus said in a statement that the A321neo has “over 20%” less fuel consumption per seat compared to the previous generation A320neo. It also has a maximum flight range of 5.5 hours, or an hour higher than A320neo’s, which means that new destinations can be explored across Southeast Asia and beyond.

Other features of the A321neo include lightweight and slimline seats with a mobile phone or tablet holder; three rows with a seat pitch of 37” or above; three additional rows of hot seats rows; USB in-seat power in every seat; and Rokki WiFi providing entertainment, shopping, and internet speed up to 10MB/s.

Airbus said further that the A320 family received a total of 7,000 orders from at least 110 company customers globally as of end of October 2019.

AirAsia’s current fleet consists of 194 A320CEOs (68 fitted with Sharklets), 40 A320Neos, 36 A330s, and two A330Neos. It has backlog of 13 A320Neos, 352 A321Neos, 30 A321XLRs, and 78 A330Neos.

Columbia School of Journalism, Nikkei offering $100,000 scholarship

THE Columbia University School of Journalism and Nikkei, Inc., parent company of the Financial Times, the publisher of the Nikkei and the Nikkei Asian Review, are offering a $100,000 fellowship to students who are residents of Asia who enroll in the Master of Science in Data Journalism or in the Master of Arts in the business and economics concentration. Students enrolled in the three-semester Master of Science in Data Journalism degree will receive the hands-on training needed to report data-driven stories in the public interest (no prior experience with data or coding necessary). In the Master of Art degree with a concentration in business and economics journalism, students learn the fundamentals of economic theory, accounting, and markets. The application deadline for the Data degree is Dec. 15, while for the Master of Arts degree it is Jan. 6, 2020. For more information, e-mail journalism.columbia.edu. To apply, e-mail apply.journalism@columbia.edu.

Lufthansa union threatens strikes in wage dispute

FRANKFURT/BERLIN — A trade union representing Lufthansa’s cabin-crew on Wednesday threatened strikes that could fall during the busy Christmas period if Germany’s biggest airline does not make concessions in a wage dispute.

Trade union UFO said that if no progress was made during talks, it would announce next Thursday when and where strikes would take place and for how long they would last.

A Lufthansa spokesman said the airline would use the time to try to come to an agreement with UFO, adding that a solution could only be found in joint discussions and arbitration.

“You can’t strike and arbitrate at the same time,” the spokesman said.

Cabin crew held a strike over pay and pensions for two days earlier this month, resulting in the cancellation of one in five flights, affecting around 180,000 passengers and costing the airline 10-20 million euros ($11-$22 million).

Last week, Lufthansa and UFO agreed to enter large-scale arbitration talks over pay and pensions, averting further strikes. — Reuters

Meralco plans more automated substations

MANILA Electric Co. (Meralco) targets to build more fully automated substations next year ahead of the expected increase in the demand for power, adding to the distribution utility’s investments in technologically advanced facilities within its franchise area.

Company officials disclosed these plans during the inauguration of the company’s substation at Bridgetowne, a township development of Robinsons Land Corp. (RLC) in the cities of Quezon and Pasig.

Ronnie L. Aperocho, Meralco senior vice-president and head of networks, told reporters the cost of the new substation would ultimately reach P1 billion when two more transformers are installed.

“For now, dahil isang transformer pa lang, ang budget dito is around P550 to P600 million (For now, because only one transformer was installed, the budget is around P550 to P600 million),” he said.

Mr. Aperocho said the future substations will be at Eton Centris in Quezon City at a budget of P532 million; Net Park at P478 million in Taguig City; and Escoda St. in Manila at P500 million.

Another facility will also be built in Arca South, he said.

Kung magawa namin lahat next year the better kasi talagang need na sa system (If we can complete these next year the better because they are needed in the system),” he said.

Mr. Aperocho said the Bridgetowne substation would improve the dependability and reliability of electricity service in the township and the surrounding growth areas, as it relieves expected critical loading of nearby Hillcrest, Cainta, and SM Shangri-La substations.

Meralco said the new substation at Bridgetowne is part of its roadmap to ensure adequate and reliable power supply for the growing needs of the locators within the 31-hectare project.

The township will have residential condominiums, office buildings, shopping centers, a five-star hotel, as well as parks, a school, a hospital and public art installation.

In a statement issued during the inauguration, RLC President and Chief Executive Officer Frederick D. Go said: “Our vision for Bridgetowne is to increase job opportunities and progress in Quezon City, Pasig, and the immediate communities.”

“And the fastest way to bring this vision to reality — for all our locators, and those residing and working in the area — is to collaborate with entities, such as Meralco, who share this vision with us,” he added.

Meralco’s 115-kV (kilovolt) to 34.-kV facility, with an initial capacity of 83 mega volt-ampere, is in a 1,293-square meter parcel of land provided by RLC through a collaborative real estate arrangement. It said residential communities in the area will also benefit from the Bridgetowne substation.

The utility said proximity to a substation improves power reliability and dependability, making it more enticing for businesses and business process outsourcing firms to move their office spaces into Bridgetowne.

Meralco’s controlling stakeholder, Beacon Electric Asset Holdings, Inc., is partly owned by PLDT, Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has interest in BusinessWorld through the Philippine Star Group, which it controls. — Victor V. Saulon

The caged bird sings

Bulaklak sa City Jail
Directed by Mario O’Hara
Available soon on Cinema One

IF I REMEMBER right, I saw Mario O’Hara’s Bulaklak sa City Jail (Flowers of the City Jail) on its opening run back in 1984 and thrilled to the story of Angela Aguilar (Nora Aunor), a hapless woman jailed for “frustrated murder.” Based on Lualhati Bautista’s novel of the same name, sequences stayed in memory — Angela’s first night reception (where her cellmates practically raped her); the attempted escape through an old mansion’s garden statuary, her pursuit by police through Manila Zoo. I remember the lurid red of the nightclub where Angela sings, the bleak glow of cellblock lights, the deep shadows of the zoo.

And I remember how in screenings and various Betamax and VHS recordings since how those colors have faded, how the image blurred, has been accompanied by questionable translations (Caged Blossoms?), how watching the film in a special screening at the Hong Kong Film Festival felt like watching the through a muddied window — and this was the only surviving 35 mm print!

Thanks then to ABS-CBN’s digital restoration for bringing those colors back — the lurid reds, the bleak glow, the deep shadows.

Again one is struck by the opening sequence of tight shots — an impressionistic flurry of pouring beer and gin, cigarettes perched on lips, ashtrays and salted peanuts, hand caressing skirted thigh, faces gazing at each other and at Angela singing “I’ve Got a Crush On You.”

Cut without explanation or apology to a typewriter laboriously clacking out “AGUILAR ANGELA,” the platen rolling to reveal “PERSONAL IDENTIFICATION criminal fingerprint card.” Suddenly the singer, who had been crooning longingly under warm red spots has been shoved under the jail’s harsh incandescents, looking like a deer in headlights while guard and convicts stare. The tight shots continue, camera passing from one face to another, their expressions hostile if not hungry.

Much of the film is shot that way and one can think up of a number of reasons why: easier to eliminate the curious stares of extras (Nora being at the height of her celebrity), easier to dress sets, easier to light. But O’Hara’s closeups also evoke the claustrophobia of prison life, how a convict (or not a convict — some languish in jail for years, waiting for sentencing or even trial) can only survive when she narrows her focus to what’s directly in front of her. When Angela learns she’s pregnant, she confides to Juliet (Gina Alajar) that she hopes to miscarry. Unspoken: a child would be a burden here.

Arguably Angela has been myopic all her life. In the nightclub she only has eyes for her lover, Cris (Ricky Davao); on first entering prison she only sees unfriendly faces. O’Hara’s camera pulls occasionally for a glimpse of other women’s lives: the aforementioned Juliet, jailed for estafa (fraud); Viring (Perla Bautista), whose daughter is taken from her as the result of a crackdown (there was a riot at the men’s prison, and a 12-year-old was killed); Lena (Celia Rodriguez) who turns tricks to support her beloved Jun (Jack Antonio); cellblock “mayor” Tonya (the inimitable Zenaida Amador) and her lieutenant Barbie (the intimidating Mitch Valdez). The camera’s eye stands for Angela’s, who in turn stands as mute witness to these women’s stories as they prompt her (gently, gently — O’Hara is rarely if ever insistent) to widen her gaze, look beyond her own predicament.

And Angela learns to speak up. First for herself (turning down the proposal of prison guard Paquito, a.k.a. Cowboy [Tom Olivar] — there might be immediate benefits, but the man looks like a sadist), then for others, especially Patricia (Maritess Guiterrez). In Patricia’s brutal initiation, Angela sees her own, takes the younger woman under her wing — yes, it helps that Patricia is from a wealthy family but that’s the thread of sad realism Lualhati Bautista weaves into her melodrama: in Philippine society status and wealth helps, sometimes more effectively than the established legal system.

A word on Bautista’s story: I have not read the novel (not easy to find and listed on Amazon at a pricy $40) but the screenplay (with some rewrites from O’Hara) adds substance to the characters — Angela’s attitude towards her unborn child undergoes a gradual shift, helped presumably by the example of Viring’s attachment to her daughter and Lena’s dedication to her son. The various vignettes manage satisfying mini-arcs of their own — Viring’s gradual breakdown in the absence of her child; Lena’s cynical disposition cracking when she learns her son has landed in the same jail. Tony Aguilar’s varied music score, chastely applied, helps highlight mood (O’Hara is a veteran radio actor and knows a thing or two about musical cuing).

O’Hara keeps the film moving briskly, the plotlines cunningly interwoven, orchestrates a royal flush of wonderful performances (can’t think of a single weak actor — even TV variety show host German Moreno as an ominously wordless prison warden stands out). Nora Aunor’s Angela is the lead and she’s wonderful but not ostentatiously so; she enters the jail like a lamb to slaughter, only later finds her strength — and when she does, only flexes that strength when necessary. Early in the film when Barbie approaches Angela with Cowboy’s proposal, which the latter brushes aside, Barbie threatens her with a countdown: “One. Two…” “Three,” Angela finishes, flashing those astounding Aunor eyes, and Barbie is flummoxed: who is this tiny woman with the outwardly meek disposition and hidden iron will?

O’Hara keeps much of the film in closeups, occasionally cutting to an overhead shot of Angela stripped naked, or Cowboy tearing Viring’s daughter away from her grasp. O’Hara uses corridor compositions to underline the narrowness of the women’s world: a hallway wide, an eternity long. When a convict stabs a prison guard in the gut, she has to get past three barred doors to freedom: O’Hara’s camera watches from one end of the hallway as she runs through all three, the wounded guard’s gun firing each time.

On occasion, O’Hara serves up an indelible image: the concave bowl of a spoon sticking out of a guard’s spine; the convicts celebrating an escape by banging their tin plates on the bars; Angela’s tear-streaked face as she sits in a pool of blood, looking up at the police flashlights and begging for mercy.

Then there’s Juliet’s escape to see her son. She’s running down a metro train station, a police officer pointing his handgun at her; the weapon fires, and suddenly Angela wakes — arguably one of the most haunting cuts in Philippine cinema. Was Angela remembering what someone had told her of Juliet? Was this Angela’s nightmare recreation of Angela’s fate? Or was it some kind of telepathic flash, a sudden sympathetic rapport between two fugitives from society?

It’s not a perfect print, despite the colors and clarity: Angela’s escape through a garden statuary is truncated, and we’re missing the scene where she finds out she’s pregnant (the film according to IMDb has a running time of 1 hour 50 minutes; this copy runs for 1 hour 44 minutes, or some six minutes short).

As for the Manila Zoo manhunt (womanhunt?): critics back in 1984 ridiculed the sequence but when I ask people about the film that’s the first thing they remember. I think it’s O’Hara at his most noirishly streamlined attempting something baroque and grotesque — where Angela in escaping finds herself in a primeval jungle, Manila before a city was ever established, and still she encounters chainlink fences, steel doors, rusted iron bars. It’s an evocative metaphor, O’Hara suggesting that Manila itself is a prison — has always been a prison, only with more room and greenery, its creatures just as cruelly caged; when the animals smell the scent of Angela’s pain and coursing blood they shriek and roar, as if welcoming one of their own.

What else to say? Not just one of the best films of 1984 but one of the best I’ve seen this year — these past several years.

(The film will soon be available through the Cinema One channel, with English subtitles)

Japan Display says executive embezzled $5.25 million

TOKYO — Japan Display Inc said on Thursday it dismissed an accounting executive last year for embezzling about $5.3 million over four years since the Apple Inc supplier went public in 2014.

JDI said in a statement it had filed a criminal complaint against the former employee and that it was cooperating with police. The embezzlement was first reported by the Asahi newspaper on Thursday.

The employee had defrauded the company of about 578 million yen ($5.3 million) between July 2014 and October 2018 by arranging for payments to be made to a fictitious company, JDI said.

The revelation comes as the cash-strapped company is scrambling to clinch a bailout deal with Apple and other investors, seeking to raise at least 50 billion yen.

The liquid crystal display (LCD) maker for smartphones has been losing money for the past five years and last week reported its 11th consecutive quarterly net loss on sluggish display sales and restructuring costs. — Reuters

BSP sees lag in effects of monetary easing moves

IT MAY TAKE a while before the financial system fully feels the impact of the easing moves implemented by the central bank this year, according to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno, with its decision to hold steady to help it assess how the market is taking past cuts.

“Monetary policy works with lag so ‘di pa namin nakikita yung impact ng ginawa naming rapid fire, 75 basis points (bps) [of key interest rate cuts] tapos 400 basis points dun sa RRR (reserve requirement ratio). (we have yet to see the impact of the rapid fire easing we’ve done — 75 bps in key interest rate cuts and 400 bps in RRR reductions),” Mr. Diokno told reporters at the sidelines of the launch of the EGov Pay Facility and QR PH held at the central bank on Wednesday.

“In fact, you can argue na yung impact nung 175 basis points [hike] pa nagpi-feed (what’s still being felt is the 175 bps hike in policy rates)… So let’s see,” he added.

The BSP hiked interest rates by 175 bps last year as inflation hit multi-year highs. However, it cut key rates by 75 bps earlier this year amid easing prices, partially dialling back its tightening last year.

Rates for overnight reverse repurchase, overnight deposit and lending facilities currently stand at four percent, 3.5% and 4.5%, respectively.

Meanwhile, the reserve ratio of universal, commercial and thrift banks will be slashed by another 100 bps effective December, bringing total reductions to their reserve ratios for this year to 400 bps. This cut will also apply to the reserve ratio of non-bank financial institutions with quasi-banking functions (NBQBs).

This will bring the reserve ratio of universal and commercial lenders to 14% by December, while the RRR of thrift banks will stand at four percent. On the other hand, the reserve ratio of NBQBs will be cut to 14% next month, while the RRR for rural banks will remain at three percent.

Mr. Diokno said it could take six to nine months for the BSP’s policy actions to fully work their way into the financial system.

Ang monetary policy, ang lag nyan is mga nine months. So dapat talaga monetary policy should be forward-looking (Monetary policy’s lag is about nine months. So monetary policy should really be forward-looking),” he said, adding that RRR reductions may take about six to nine months before these are felt in the market.

“But at the same time, yung (our) pause namin gives us an opportunity to assess the situation. It gives us, in the event of, say, turning for the worst, madami pa tayong bala (we still have shots),” he told reporters.

Asked about when the next RRR cut will be, Mr. Diokno reiterated his goal to bring big banks’ reserve requirement ratio down to single digit by the end of his term in 2023.

“I’m not gonna give you some dates but to give you an idea, sa promise ko (my promise) is by the end of my term, it will be single digit. That could be nine percent. We’re not gonna go to one percent,” he said, adding that the central bank is “not in a hurry.”

Ini-evaluate din namin yung quality of lending ng banking industry (We’re also evaluating the quality of the banking industry’s lending,” he said.

Mr. Diokno added that he is positive that economic activity will be more robust on the back of the government’s infrastructure program.

Ang gusto namin yung small and medium industries sila yung manghihiram. (What we want is for small and medium industries to borrow)… So we need more liquidity,” he said.

BSP data showed that domestic liquidity picked up by 7.7% year-on-year in September to P12 trillion, from the 6.3% growth logged in August.

Meanwhile, outstanding loans disbursed by universal and commercial banks grew 10.5% year-on-year in September, unchanged from the August print. Inclusive of reverse repurchase agreements, bank lending rose 10.2% in September, slightly picking up from the 10% seen the previous month. — L.W.T. Noble

Semirara Mining appeals coal trading suspension, P1.8-M fine

SEMIRARA Mining and Power Corp. (SMPC) has asked the Energy department to reconsider its decision suspending the Consunji-led company’s coal trading for a month and imposing a fine of P1.735 million, it told the stock exchange on Thursday.

“We would like to notify the Exchange that SMPC filed its Motion for Reconsideration with the [Department of Energy, DoE] yesterday, November 20,” it said in a disclosure.

A DoE resolution dated Oct. 15, 2019 found the company in violation of Department Circular No. DC2012-05-0006 or the Guidelines on the Accreditation of Coal Traders and Registration of Coal End-Users.

The one-month suspension was imposed on the company for violating Section 7.2 of the circular due to its coal trading or transaction with Gold Anchorage Stevedoring and Arrastre Services, which is an unaccredited coal trader, except deliveries of SMPC-owned power plants and other local power plants with existing coal supply agreements.

The fine was for violating Section 3 of the circular due to unabated and continuous coal trading despite suspension of its accreditation.

SMPC said it would like to stress that the DoE resolution is not yet final and executory.

“Our pending motion temporarily defers the implementation of the coal trading suspension, which would allow SMPC to continue serving its coal customers,” it said.

SMPC said that on a separate DoE suspension order dated Nov. 14, 2019, the company was completing the requirements to comply with the conditions set by the department. It said it intends to reply to the DoE by Nov. 22.

The suspension was in relation to a mudflow incident in Semirara Island in Antique province on Oct. 2, 2019 that resulted in the loss of the life of the company’s mining operator.

On Thursday, shares in SMPC fell by 9.57% to P19.76 each. — Victor V. Saulon

Your Weekend Guide (November 22, 2019)

Tagu-Taguan Naasan ang Buwan?

THE PLAY Tagu-Taguan, Nasaan Ang Buwan? returns for a limited run until Dec. 6 at the PETA Theater Center in Quezon City. Written by J-mee Katanyag and directed and choreographed by Dudz Teraña, the story follows young Popoy as he tries to save his forgetful grandmother by searching for her stories in a dark realm which is guarded by the evil monster Papaw Halimaw. Tickets are available at TicketWorld (891-9999, www.ticketworld.com.ph).

The Nutcracker

THE PHILIPPINE Ballet Theater (PBT) re-stages Tchaikovsky’s The Nutcracker, the version created specifically for PBT by prima ballerina Gelsey Kirkland, on Nov. 23 and 24 at the Main Theater of the Cultural Center of the Philippines. With choreography by Artistic Director Ronilo Jaynario, Jared Tan returns to PBT to dance the role of The Prince, alongside Matthew Davo. Regina Magbitang and Veronica Atienza alternate as the Sugarplum Fairy. Tickets are available at TicketWorld (891-9999, www.ticketworld.com.ph).

Zonta Alabang Christmas Bazaar

THE Zonta Club of Alabang is raising funds for its various charity projects through the Christmas Carnivale Bazaar until Nov. 24, 10 a.m. to 9 p.m., at Filinvest Tent, Spectrum Midway, Alabang, Muntinlupa City. There are over 250 booths selling fashion, jewelry, food, crafts and homeware. This bazaar is also supports the Plastic Free initiative, so shoppers and vendors are encouraged to bring their own eco-friendly bags or buy the Zonta Christmas Bazaar eco-friendly bags. For information, visit www.facebook.com/zontaalabangchristmascarnivalebazaar/.

Smile Train x GLAD

SMILE Train, the world’s leading cleft charity, has partnered with food storage maker Glad Philippines for the fourth year for the Glad to Give Smiles Family Fair on Nov. 23 at the Alveo Corporate Center, 28th St., BGC, Taguig. During the event, the following activities will be conducted: Cooking Lesson by chef Happy Ongpauco-Tiu; Sunset Yoga Class for adults by Beyond Yoga (bring your own mat); Zumba Class for kids by Beyond Yoga; and Smartphone Photography Class for kids.

Open Hands Bazaar

THE Open Hands School will hold its annual Christmas Bazaar on Nov. 23 at its new location, 28 Maginhawa St., UP Village, Quezon City. from 11 a.m. to 5 p.m. they will be selling baked goodies, plants like herbs and succulents, leather bags, earrings, wallets, organic soap, shirts, and more. All the products are handmade and packaged by the students of the Open Hand School.

International Bazaar 2019

FOR the 53rd year, the popular International Bazaar returns on Nov. 24, from 9 a.m. to 7 p.m., at the PICC Forums 1, 2, and 3 at CCP Complex, Pasay City. The bazaar will showcase the best and finest products from all over the world, and are all for sale. Some 36 embassies have signed on for the event to sell their respective products while a total of 40 countries have committed to selling their items at the bazaar. Entrance tickets are P150, while donor cards cost P250. Tickets are available at Tesoros Store in Arnaiz Ave., Makati and at the PICC gate on the day of the bazaar.

Sinag: Festival of Radiance

THE Cultural Center of the Philippines (CCP) has new free performances for its Sinag: Festival of Radiance, every weekend until Dec. 15. The General Trias Youth Symphonic Band will play pop classics and medleys on Nov. 23. Komedya ng Don Galo of Brgy. Don Galo in Parañaque City will present a traditional komedya on Dec. 8. The Philippine Women’s University’s Indayog Gongs will perform Christmas carols using gongs and bamboo instruments on Dec. 15. All the performances are at 6 and 7 p.m. The light and sound show continues at 8 and 9 p.m., except on evenings where there are performances at the CCP Main Theater. Schedule of the performances and light shows may vary depending on the weather. The light and sound show runs until Jan. 5.

Van Gogh Alive

THE multi-sensory exhibition about the life of Dutch painter Vincent Van Gogh, told through his works and letters, is ongoing at the 4F of One Bonifacio High Street in BGC, Taguig City, until Dec. 8. For details visit www.vangoghalive.ph. Tickets, priced at P750 (adult) and P450 (student), are available on site on a first come, first served basis daily from 10 a.m. to 9 p.m., and The Mind Museum ticket booth on Tuesdays to Sundays, 9 a.m. to 5 p.m. Senior citizen and PWD discounts are not available on online purchases.

The Quest for the Adarna

REPERTORY Philippines’s Theater for Young Audiences presents a musical retelling of the Philippine folk tale “Ibong Adarna.” The Quest for the Adarna has performances until Jan. 26, 2020 at Onstage Theater, Greenbelt 1, in Makati. In the kingdom of Berbania, the king falls mysteriously ill and can only be healed by the song of the mythical bird, Adarna, which can be found in its mountain home. His three sons take turns attempting the dangerous journey to help their father. Tickets are available through TicketWorld (www.ticketworld.com.ph, 891-9999).

Cats the Musical

THE international tour of the Olivier and Tony award-winning musical by Andrew Lloyd Webber, based on T. S. Eliot’s poetry book, “Old Possum’s Book of Practical Cats” has performances at The Theater at Solaire until Dec. 1. The show stars Joanna Ampil as Grizabella. For more information, visit www.catsthemusical.com. Tickets are available at TicketWorld (891-9999, www.ticketworld.com.ph).

Frozen II’s Enchanted Forest

TO CELEBRATE the premiere of the highly anticipated sequel, Globe At Home is bringing the world of Frozen II to life with immersive lights and sounds experiences at SM Mall of Asia Atrium from Nov. 22 to 24. Customers can present their Globe At Home App for a fast pass into a Enchanted Forest, test their powers in an immersive room and a life-sized snow globe, and up their IG game by entering and exploring the “Prism of Lights” in which art comes to life through digital and 3D technology. Visit https://www.facebook.com/globeathome/ for more details.

Kite Making and Flying Event

IN celebration of National Gifted Week 2019, Promil Four presents a Kite Making and Flying Event will be held on Nov. 24, 11:30 a.m. to 5 p.m., at the Burnham Green Park across Luneta, Manila. The morning will feature the general assembly, the distribution of kite kits, and lunch, followed by the opening ceremony and kite making from 1 to 3 p.m., a performance at 2 p.m., the Gifted Kite Awarding at 2:30 p.m., and the kite flying from 3-5 p.m.

Interactive water show at Nuvali


AYALA LAND, in partnership with art collective teamLab bring the Nuvali teamLab Water: Interactive Water Show, featuring interactive artworks projected on a larger-than-life water screen 100-meters wide and 15-meters high. The exhibit is co-created in real time by visitors through the teamLab Water Show smartphone application, allowing guests to participate in the display. The show premieres today and will be on view for a year. There will be a 30-minute spectacle every hour from 6 to 9 p.m., Fridays to Sundays at Nuvali. Admission is free. Visit http://nuvali.ph for details.

UAW president resigns after union accuses him of false accounting

DETROIT/NEW YORK — United Auto Workers President Gary Jones resigned on Wednesday shortly after the union moved to remove him office amid a widening corruption probe from US prosecutors, a union source told Reuters.

Jones’ lawyer Bruce Maffeo told the Detroit News that the decision was based “on his belief that his continuing to serve will only distract the union from its core mission to improve the lives of its members and their families.”

A UAW spokesman could not confirm the resignation. Maffeo did not respond to repeated messages from Reuters.

To date, 10 people have pleaded guilty in connection with the criminal investigation into illegal payoffs.

In late October, another UAW official was charged with embezzling hundreds of thousands of dollars in an alleged scheme that a person familiar with the case told Reuters involved Jones.

Earlier on Wednesday the union filed charges under its bylaws against Jones, who had taken a paid leave of absence in early November, accusing him of “false, misleading and inaccurate expense records.”

Maffeo told the Detroit News that Jones’ decision to resign “was reached before learning of the internal charges filed earlier today by the UAW.”

The union also filed similar charges against UAW board member Vance Pearson, who was charged in September with conspiring to embezzle union funds.

An attorney for Pearson, N. Scott Rosenblum, did not immediately comment.

In late August, the FBI conducted searches at Jones’ suburban Detroit home and other locations.

The widening probe has raised questions about whether the US government might seek to take over the UAW.

Earlier this month, former UAW vice president and former General Motors Co. board member Joseph Ashton was charged with conspiracy to commit money laundering and wire fraud.

The probe has also involved a number of Fiat Chrysler Automobiles NV executives.

“This is a somber day, but our UAW Constitution has provided the necessary tools to deal with these charges,” acting UAW president Rory Gamble said in a statement earlier in the day, before news of Jones’ resignation. “We are committed at the UAW to take all necessary steps including continuing to implement ethics reforms and greater financial controls to prevent these type of charges from ever happening again.”

Since assuming the interim role, Gamble has announced a series of ethics reforms to clean up the UAW.

Earlier on Wednesday GM filed a racketeering lawsuit against FCA, alleging that its rival bribed UAW union officials over many years to corrupt the labor contract bargaining process and gain advantages, costing GM billions of dollars.

The lawsuit comes at a delicate time for FCA, which is working on a planned merger with French automaker PSA and is negotiating a four-year labor contract with the UAW. — Reuters

PDIC to file charges vs AMA Rural Bank officials

THE PHILIPPINE Deposit Insurance Corp. (PDIC) is set to file criminal charges against officials and employees of the closed AMA Rural Bank of Mandaluyong, Inc. for refusing to turn over bank records.

In a statement yesterday, the state deposit insurer said it gave the bank’s accountable employees 24 hours to report to the PDIC but as of Nov. 19, only 16 individuals complied.

The PDIC earlier said it issued more than 60 demand letters on Nov. 15.

“When a bank is served a notice of closure, employment is terminated by operation of law but directors, officers and employees who hold assets, records, documents in trust or under administration have a duty to account for and surrender these to the Receiver as well as provide information relating to the assets/ records,” it explained.

The PDIC has warned that if the closed bank will not cooperate, claims of insured depositors may be delayed.

The Bangko Sentral ng Pilipinas ordered the bank’s closure on Nov. 7 while directing the PDIC to take over its liquidation.

As of end-June, the bank has P1.4 billion worth of total deposits while P1.3 billion are insured.

“The PDIC also sought the assistance of government authorities in the conduct of investigation on possible fraud, irregularities and anomalies that may have been committed in the bank,” it said.

Republic Act. No. 3591 or the PDIC Charter states that refusal to turn over or destroying or tampering bank records are considered as criminal acts and are punishable with imprisonment.

The state deposit insurer also assured that they are now exploring alternative measures in reconciling bank records to minimize the delay of deposit insurance’s claims. — Beatrice M. Laforga