The family council

It looks like Globe Telecom, which is headed by Gerardo Ablaza Jr., is going into direct selling. But just to be on the safe side – and not be accused of pyramiding and other nonsense – Globe has asked the opinion of the Department of Trade and Industry.

The Globe set-up is pretty simply. It will offer a one percent commission to any of its accredited direct sellers who can sell at least P50 worth of cell phone load to their friends and relatives.

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Now that he has gotten his designation as a certified franchise executive there are only two CFEs so far in the Philippines – the major reason for Red Ribbon Food Corp. director Ricardo Mercado to spend so much time in the US West Coast has surely got to do with the company’s expansion plan abroad.

By the way, Ricky Mercado is one of the speakers in the break-out educational sessions which form part of the annual conference of the Philippine Franchise Association this July 15-16.

PFA is currently chaired by former National Development Co. president Samie Lim. Its president is Alegria Sibal Limjoco.

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Bank notes 1: The highlight of the Bangko Sentral’s santacruzan this May 15 is, of course, Miss BSP who will be dressed as the Reyna Elena. In the absence of Governor Rafael Buenaventura, who is abroad, the next best person is officer-in-charge, Deputy Governor Alberto Reyes.

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Bank notes 2: It seems some Cebu-based exporters have gotten tired of waiting for their loans to be processed and released by the Trade and Investment Development Corporation of the Philippines currently headed by Sergio Edeza.

As everybody knows, Tidcorp is the country’s designated export-import bank.

These exporters have since submitted the same set of loan do-cuments to other financial institutions and have already gotten the money needed to meet their operational needs.

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Okay, so Hans Sy is now president of SM Prime Holdings, the holding company of Henry Sy Sr.

In a Western management set-up, this might signal the ascendancy of the younger Mr. Sy over his three older siblings, including eldest child and president of ShoeMart, Inc. Teresita Sy Coson and older brother and SM Development Corp. vice-chairman Henry Sy Jr.

In a Chinese management set-up, such titles are not as important as the manager’s proximity and access to the true power in the company. In the case of the SM Group, the true power remains with the older Mr. Sy, who continues to head the family council. (It helps that the council frequently meets over a meal which the older Mr. Sy personally marketed for and cooked).