Biz Buzz: Extended perks. - Free Online Library (2024)

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This Cabinet secretary has raised eyebrows for seeking perks beyondwhat long-time constituents have been accustomed to.

Mr. Secretary had requested a dedicated service car and full-timeclose-in aide for his wife. Insiders say that in the past, aides hadbeen assigned to the predecessor's wife on official events butnever on a full-time basis. Observers also noted that while hispredecessor's wife occasionally used official aides, she used herown set of wheels.

Given that his own President lines up at the airport and also queuesup at the buffet table, some people around him thus wonder why Mr.Secretary wants VIP treatment for his better half.

The controversial Cabinet member has also created jitters within theplantilla for proposing a hefty increase in the mix of politicalappointees from 20 percent to 47 percent. Under the Aquinoadministration, 80 percent of officials supporting this portfolioconsisted of career officers but if the proposed mix comes through,their tribe will dwindle. Doris Dumlao-Abadilla

Okada's backdoor

TIGER Resort Leisure and Entertainment Inc., the local unit ofJapanese tycoon Kazuo Okada that is developing the $2.4-billion OkadaManila-the newest integrated resort to rise in Pagcor'sEntertainment City before yearend-is on the prowl for a potentialbackdoor ticket to the Philippine Stock Exchange.

Industry sources said Tiger was now looking at several potentiallisted shell companies on the local bourse. Note that most other gamingpeers in the local market like Bloomberry Resort and Melco Crownlikewise took the backdoor route to gain access to the local capitalmarket. Travellers International Hotel Group, the pioneer in theintegrated gaming resort business in the country, was the onlyintegrated gaming play that used the front door because by the time itdebuted on the exchange, it had already met the track record requirement(PSE requires a three-year operating history).

Businessman Antonio 'Tonyboy' Cojuangco, board member ofTiger Resort, said Okada Manila would have to see some revenue streamfirst before taking the plunge. But if the market is receptive, he saidTiger Resort could fast-track its listing plan.

Cojuangco noted that Travellers' Resorts World Manila inNewport City had recovered its investment in six months but at thattime, they had no other competitors. For Tiger, he said it might take11/2 to two years to achieve payback. 'We're going to list thecompany so part of the recovery will come from the uptick in thevaluation,' he said. Doris Dumlao-Abadilla

Final, final name

IT WAS once known generically as Universal Entertainment of Japanesepachinko magnate Kazuo Okada when it was first awarded a gaming anddevelopment license by the state-owned Philippine Amusement and GamingCorp. (Pagcor).

A few years into the project, it was rebranded as 'TigerResorts' or 'Tiger Entertainment' or 'Tiger ResortLeisure and Entertainment.' Tuesday, however, the $2.4-billionintegrated hotel, casino and entertainment development was given whatits owners promised would be the 'final' brand. Henceforth, itwill be known as 'Okada Manila.'

We understand that the company just got tired of dodging questionsabout Okada's previous high profile corporate disputes and decidedto take the counterintuitive route of leveraging on thebusinessman's name recall (everyone calls it 'Okada'scasino' anyway).

Confused with all these brand names? Well, all the public needs toknow right now is that the project will have its soft opening inNovember of this year (Nov. 17, we're told).

With Okada Manila's 44 hectares giving it the biggest footprintin the Entertainment City area, expect rivals Solaire Resort and Casinoand City of Dreams to ramp up their own offerings ahead of the newcompetitor's launch. Daxim L. Lucas

Strong economy = pricey office chairs

WOULD you pay P100,000 for an office chair? Well, the economy isbooming and the local partners of renowned office furniture design andmanufacturing firm Herman Miller think there's big potential in thePhilippine market.

The US-based firm will host an event called 'Reach,' whichrecognizes Manila as a 'global design capital and gateway to theinternational creative community.' The event, to be held tomorrowat Ascott Bonifacio Global City, will showcase Herman Miller'slatest innovation and design and will also gather some of theworld's and the country's leading design thinkers.

The curated exhibit is a by-invitation-only event for designers,architects, dealers and clients. It was first held in Hong Kong in 2011and then in Singapore in 2013. This year, Herman Miller is bringingReach to Manila, Beijing, Tokyo, Bangalore and Melbourne.

In Manila, the event will be a collaboration between Herman Millerand its dealer in the Philippines, CWC International.

Among local business VIPs who will get to schmooze with HermanMiller International president Andy Lock will be Leechiu PropertyConsultants CEO David Leechiu and Globe Telecom president and CEO ErnestCu (in part because practically all the office chairs in the Globe Towerin BGC are made by Herman Miller).

Of course, Herman Miller's top of the line iconic product-theAeron office chair-can be bought in the US for the equivalent of aroundP50,000.

But if you value the time you spend sitting behind your desk andhave a few thousand to spare, the 100-percent price premium the localdistributor charges might just be worth it. Daxim L. Lucas

Dash cam solution

MAKING big problem-busting solutions within the first 100 days ofthe Duterte administration has become a thing, apparently, even to thosenot connected with the government.

Car enthusiast and media personality James Deakin took to socialmedia Tuesday to discuss his own traffic-easing solution for MetroManila: Make dash cams (cameras mounted on a car's dashbroad thatare typically facing the road ahead) mandatory for all motorists.

The target of this requirement is to record and catch bad driving.According to Deakin, that's a big factor for Metro Manila'sworsening traffic situation.

The idea was that if people were aware they were being recorded,they would be more mindful of the rules and avoid actions that worsenroad congestion like counter-flowing, swerving and blocking ofintersections.

The government has a role to play as well. Deakin suggested afull-time monitoring agency that will receive and analyze these videosand catch those with clear and 'blatant' violations. Thatwould entail higher public spending, but Deakin said penalties forerring drivers would be increased to offset the cost. He suggestedP50,000 for counter-flow violations, while blocking intersections couldcost about P20,000.

While the steps might sound drastic for some, Deakin's post hasbeen shared thousands of times since it was published.

A petition for mandatory dash cams was also nearing the 1,000signatures it required, as of this writing. Let's see what thegovernment has to say first. Until then, you might want to hold off frominvesting in that dash cam business.

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Biz Buzz: Extended perks. - Free Online Library (2024)

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