The collapse of Lehman are making my colleagues walk with their fingers crossed and in daze.
They have placements, big placements, in the local subsidiary of American International Group (AIG) because of the big returns on their investments.
AIG is skittering on the brink and my friends are praying real hard. Well, win some; lose some.
People like me who have nothing to invest have nothing to lose. And no hope of winning anything. :-(
Wednesday, September 17, 2008
Sunday, August 31, 2008
The Obama Speech - a must read (and view)
I have lumps in my throat while reading the text of the speech of Barack Obama. And later I had tears in my eyes when I watched the video. On the amusing side: my family and I counted 30 "thank you's" from Obama before he could go on to his speed.
Will the Philippines ever have a Filipino Obama? Ninoy Aquino could have been one. Except that unlike Obama, Ninoy had the pedigree for politics. So Obama's story is more astounding.
I am optimistic. Since I plan to live for 30 more years, I know the Philippines will have decent leaders before I die. And I hope to see my grandchildren enthusiastic to vote for one. That will be the day that I will cast my ballot again. Just like those old Americans who went back to the primaries and will vote again on November 4 just because they see hope in Obama.
First, a transformation in our society should come before we can elect a Filipino Obama. That is what happened to America. Paul Krugman says America has been transformed that is why it is now possible for a Black (or a woman I should add) to be elected to the highest office.
I believe transformation comes with the creation of a strong working middle class with enough voting clout to counter the tendency of the masses to vote for a populist politician and the bias of the elite to choose from among their own.
Periodically I get to lecture to group of students who come to the office as part of their class requirements. I always make it a point to show them the need for upright politicians, honest government bureaucrats and hardworking entrepreneurs to get this county out of the rut it is in.
The hope of the Philippines are in these young students. Those of us who have been in politics, in government bureaucracies or in business for more than two decades and still have not done anything, our time is up. Let's give way to the young, nurture their idealism and provide them with the opportunities for the sake of our grandchildren.
Will the Philippines ever have a Filipino Obama? Ninoy Aquino could have been one. Except that unlike Obama, Ninoy had the pedigree for politics. So Obama's story is more astounding.
I am optimistic. Since I plan to live for 30 more years, I know the Philippines will have decent leaders before I die. And I hope to see my grandchildren enthusiastic to vote for one. That will be the day that I will cast my ballot again. Just like those old Americans who went back to the primaries and will vote again on November 4 just because they see hope in Obama.
First, a transformation in our society should come before we can elect a Filipino Obama. That is what happened to America. Paul Krugman says America has been transformed that is why it is now possible for a Black (or a woman I should add) to be elected to the highest office.
I believe transformation comes with the creation of a strong working middle class with enough voting clout to counter the tendency of the masses to vote for a populist politician and the bias of the elite to choose from among their own.
Periodically I get to lecture to group of students who come to the office as part of their class requirements. I always make it a point to show them the need for upright politicians, honest government bureaucrats and hardworking entrepreneurs to get this county out of the rut it is in.
The hope of the Philippines are in these young students. Those of us who have been in politics, in government bureaucracies or in business for more than two decades and still have not done anything, our time is up. Let's give way to the young, nurture their idealism and provide them with the opportunities for the sake of our grandchildren.
Saturday, August 30, 2008
My thoughts on the Mindanao conflict
This is only a draft. I hope I have enough time this weekend to complete this blog.
(I am introducing my out-of-school son to Visual C++ this weekend. He stumbled on Java a week ago. But I think Visual C++ would be better since he is interested in game programming.)
My outline for this piece:
1. I have a stake in Mindanao. The first casualty in our family was an uncle who was killed (early 1950s) in Zamboanga del Norte by bandits.
2. I spent my early childhood up until my grade 1 (1958) in Zamboanga del Sur. From Grade 2 until my high school I stayed with my grandparents in Cebu.
3. For college I went back to Mindanao and studied fisheries hoping to spend the rest of my years tending to our family fishpond.
4. My father was murdered by his political opponent (a fellow Bisaya) in 1971. My mother moved the family back to Cebu. My father's kins stuck it out. A little later the "Muslim-Christian" conflict erupted. Our town was razed to the ground.
5. My uncle and his second wife and children were killed by the rebels presumably Maguindanaos. My cousin and his family were killed also by rebels.
6. I think the Maranaos and the Maguindanaos and other natives of Mindanao have plenty of reasons for feeling aggrieved.
7. Peace and progress can only be achieved if these grievances are properly resolved. Some kind of closure, of restitution, is needed because of the past injustice the natives of Mindanao suffered at the hands of those not from Mindanao.
(I am introducing my out-of-school son to Visual C++ this weekend. He stumbled on Java a week ago. But I think Visual C++ would be better since he is interested in game programming.)
My outline for this piece:
1. I have a stake in Mindanao. The first casualty in our family was an uncle who was killed (early 1950s) in Zamboanga del Norte by bandits.
2. I spent my early childhood up until my grade 1 (1958) in Zamboanga del Sur. From Grade 2 until my high school I stayed with my grandparents in Cebu.
3. For college I went back to Mindanao and studied fisheries hoping to spend the rest of my years tending to our family fishpond.
4. My father was murdered by his political opponent (a fellow Bisaya) in 1971. My mother moved the family back to Cebu. My father's kins stuck it out. A little later the "Muslim-Christian" conflict erupted. Our town was razed to the ground.
5. My uncle and his second wife and children were killed by the rebels presumably Maguindanaos. My cousin and his family were killed also by rebels.
6. I think the Maranaos and the Maguindanaos and other natives of Mindanao have plenty of reasons for feeling aggrieved.
7. Peace and progress can only be achieved if these grievances are properly resolved. Some kind of closure, of restitution, is needed because of the past injustice the natives of Mindanao suffered at the hands of those not from Mindanao.
Saturday, July 26, 2008
Not the only atheist in Cebu. Thanks God!
I was at the Powerbooks at SM City Cebu with my wife a few weeks back. Just for curiosity I asked the saleslady about any book by Prof. Dawkins. She promptly answered, "Ah, the God Delusion book, it is already sold out".
I kidded my wife that I finally found out I was not the only atheist in town. At the office I am frank about my non-belief and would jestingly describe myself as the only one without four Cs: no cellphone, no credit card, no car and no Christ.
I really would like to have a printed copy of The God Delusion in my bookshelf alongside with the other books of Prof. Dawkins. But I think I have to wait for his next science book on evolution.
I kidded my wife that I finally found out I was not the only atheist in town. At the office I am frank about my non-belief and would jestingly describe myself as the only one without four Cs: no cellphone, no credit card, no car and no Christ.
I really would like to have a printed copy of The God Delusion in my bookshelf alongside with the other books of Prof. Dawkins. But I think I have to wait for his next science book on evolution.
Sunday, June 1, 2008
Troubled Groups Pontificating
I am always amused when a person or a group with credibility problems propounds an opinion or makes predictions on a public matter such as the economy. These predictions are usually intended to persuade some sectors in the public or influence policy makers.
Citigroup recently came out with a commentary on the Philippine economy. OK, there is something, maybe all things, wrong with the economy. But coming from a company that almost went bankrupt on its subprime investments, that's presumptuous.
Economists of Citibank, an affiliate of Citigroup, also proffer their economic analysis every now and then. But BSP has dropped Citibank as one of its fund managers for some investment violations.
Other troubled firms make a lot of PR noise such as large-scale advertisement trying to drown out the losses their parent firms are racking up abroad. AIG , parent company of Philam Life, comes to mind.
I'd rather stick with Mr. Bearbull's predictions. At least Ron Nathan is entertaining.
Citigroup recently came out with a commentary on the Philippine economy. OK, there is something, maybe all things, wrong with the economy. But coming from a company that almost went bankrupt on its subprime investments, that's presumptuous.
Economists of Citibank, an affiliate of Citigroup, also proffer their economic analysis every now and then. But BSP has dropped Citibank as one of its fund managers for some investment violations.
Other troubled firms make a lot of PR noise such as large-scale advertisement trying to drown out the losses their parent firms are racking up abroad. AIG , parent company of Philam Life, comes to mind.
I'd rather stick with Mr. Bearbull's predictions. At least Ron Nathan is entertaining.
Monday, May 19, 2008
Roasted chicken with two butts from Sr Pedro
Saturday morning while on our way home from buying groceries at the Gaisano Fiesta Mall we dropped by the stall of Sr Pedro to buy roasted chicken. There were few chicken still turning brown on the charcoal roaster but the fellow manning the stall handed me a prepared styrobox of chopped chicken.
On returning to the tricycle, my wife told me about the story of the driver concerning some bad practice of the guys working at the stall. They would chop the chicken in an enclosed glass partition which was meant to prevent the chopped particles and oil to splatter all over the place. But somehow the glass partition has been covered with something opaque so that one could not really see how the chicken was chopped up.
This is where the guys do their clever trade. When they push the chopped up parts to the styrobox they drop some pieces to the side of the thick and wide chopping board. Either they sell the collected parts or have them for their meals.
I sort of defended the guys. I made a big speech about how a business would lose its customers by these tricks. And Sr Pedro is already a successful business with many stalls in Cebu.
During lunch, I picked out the wings which are usually the parts I eat otherwise I am mostly on a fish diet. I finished eating first and while I was on the phone talking to my brother, my wife called out and showed me two butts (isol in Cebuano) of the chicken and she was firm that she could not find the breast parts (pecho for Cebuanos).
I hope the management of Sr Pedro is not complicit with this malpractice. We have come to like the taste of Sr Pedro roasted chicken. Andok's chicken is just too pricey.
So we have decided that next time we'll just buy but roasted chicken straight from the roaster and chop it up ourselves.
On returning to the tricycle, my wife told me about the story of the driver concerning some bad practice of the guys working at the stall. They would chop the chicken in an enclosed glass partition which was meant to prevent the chopped particles and oil to splatter all over the place. But somehow the glass partition has been covered with something opaque so that one could not really see how the chicken was chopped up.
This is where the guys do their clever trade. When they push the chopped up parts to the styrobox they drop some pieces to the side of the thick and wide chopping board. Either they sell the collected parts or have them for their meals.
I sort of defended the guys. I made a big speech about how a business would lose its customers by these tricks. And Sr Pedro is already a successful business with many stalls in Cebu.
During lunch, I picked out the wings which are usually the parts I eat otherwise I am mostly on a fish diet. I finished eating first and while I was on the phone talking to my brother, my wife called out and showed me two butts (isol in Cebuano) of the chicken and she was firm that she could not find the breast parts (pecho for Cebuanos).
I hope the management of Sr Pedro is not complicit with this malpractice. We have come to like the taste of Sr Pedro roasted chicken. Andok's chicken is just too pricey.
So we have decided that next time we'll just buy but roasted chicken straight from the roaster and chop it up ourselves.
Sunday, May 18, 2008
Duke, Duchess and the CIA
I've been tracking this for sometime and finally got it.
In November 2005 there was a news clipping announcing that a Filipina with the name Duchess Marie Cruz got the Gold Medal Award for the Certified Internal Auditors examination. The award means she was the first placer in the whole world for that exam sitting.
That she was Filipino was not the interesting part (I think it is a sign of inferiority complex to trumpet about any accomplishment of an individual who has even the slightest hint of Filipinoness in his/her blood. I am a believer in the Homo sapien.)
The interesting part is that I remembered that in the previous year the first placer was named Duke Bajenting. That he was a fellow Cebuano is not the interesting thing. (Am I repeating myself?)
I have a daughter who is taking up accountancy. She just passed the Certified Bookkeeper exam. We paid with hard-earned money for the exam. But that was not meant to be the end of it, I found out. The certifying agency, it seems, does not make money only from the exam fees but also from registering with them before they give the passer a certification. I told my daughter I allowed her to take the exam to test what she has learned to date. That she passed was enough for me. Who cares about a piece of certificate.
At our office there are two of us who get calls not only from within but also from other branches in the country from colleagues who refer to us their problem about computers and applications. Interestingly, as far as I know, only the two of us do not have any certificates in computer training.
So I told my daughter to wait until she qualifies for the Certified Internal Auditor exam. Her second name is Hara which is Cebuano for Queen. After a Duke and a Duchess who knows. A father can dream, can't I.
Here is where I tracked the Duke and the Duchess of CIA. Just excuse the little "hambog" about who are tops in the world. That is part of the advertising of the group.
In November 2005 there was a news clipping announcing that a Filipina with the name Duchess Marie Cruz got the Gold Medal Award for the Certified Internal Auditors examination. The award means she was the first placer in the whole world for that exam sitting.
That she was Filipino was not the interesting part (I think it is a sign of inferiority complex to trumpet about any accomplishment of an individual who has even the slightest hint of Filipinoness in his/her blood. I am a believer in the Homo sapien.)
The interesting part is that I remembered that in the previous year the first placer was named Duke Bajenting. That he was a fellow Cebuano is not the interesting thing. (Am I repeating myself?)
I have a daughter who is taking up accountancy. She just passed the Certified Bookkeeper exam. We paid with hard-earned money for the exam. But that was not meant to be the end of it, I found out. The certifying agency, it seems, does not make money only from the exam fees but also from registering with them before they give the passer a certification. I told my daughter I allowed her to take the exam to test what she has learned to date. That she passed was enough for me. Who cares about a piece of certificate.
At our office there are two of us who get calls not only from within but also from other branches in the country from colleagues who refer to us their problem about computers and applications. Interestingly, as far as I know, only the two of us do not have any certificates in computer training.
So I told my daughter to wait until she qualifies for the Certified Internal Auditor exam. Her second name is Hara which is Cebuano for Queen. After a Duke and a Duchess who knows. A father can dream, can't I.
Here is where I tracked the Duke and the Duchess of CIA. Just excuse the little "hambog" about who are tops in the world. That is part of the advertising of the group.
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