The reaction to the nationally televised sight of Jamby Madrigal sobbing her heart out over what fellow Sen. Juan Ponce Enrile said elicited a lot of guffaws and sarcastic remarks. Considering the reputation the Senate has been having through the past years, people didn’t have much sympathy for the Senadora’s tears, with some giving amused comments like
"Sobrang drama naman niyan." Obviously, people are not happy with what’s going on at the Senate with all the drama and grandstanding. Enrile’s accusation that Jamby Madrigal cheated in the 2004 elections and Sen.Nene Pimentel’s claim that Enrile was involved in
"dagdag-bawas" operations only goes to show that everybody seems to have been part of this whole business of election rigging, and is making the situation look like the pot calling the kettle black. With all these "Hello Garci"-type of issues, the ordinary person’s comment nowadays is,
"Pare-pareho lang silang lahat!" | Convert passive money into active investment |
There seems to be a lot of sense in the suggestion of the Trade Union Congress of the Philippines to turn the reported $10.4 billion passive investments by wealthy Filipinos into 1.6 million high paying jobs here. The suggestion came on the heels of a Bangko Sentral ng Pilipinas (BSP) report that affluent Filipinos overseas have hoarded $10.4 billion in passive investments, putting their money to work in foreign equities, money market and multi-currency accounts, bonds, deposit certificates and even precious metals. If that amount, equivalent to almost P534 billion could be actively invested in new factories and other productive ventures here, it could easily create almost 1.6 million jobs, explained TUCP secretary general Ernesto Herrera. Using the country’s IT-enabled services industry as a model, the former senator said the estimate was based on the "rule of thumb" that a $100,000 investment is enough to produce at least 15 good paying jobs. He cited the example of India where money previously stashed overseas is flowing back to the country in a big way, along with a surge in foreign investments. Even India’s brain drain is getting reversed, because over 70,000 migrant engineers previously working in the US have decided to go home, making Silicon Valley jittery about losing top-notch engineers, Herrera said.
Women and bishops are reportedly happy with the recent announcement of GMA concerning the launching of her Strong Family Program (SFP). This came about during a recent roundtable discussion with women Cabinet members last week, where the "Strong Family" initiative will address the most fundamental needs of every family to sustain a decent existence: Three square meals a day, employment and livelihood opportunities, health care, and access to education in a global digital society. The word is, there is a pending Presidential Proclamation to create a "Strong Family Council" to implement the three-pronged program. A leading civil society member even reportedly commented that the administration seems to be taking a step in the right direction in bridging social inequities and sectoral division. The SFP’s timing coincides with the celebration of National Women’s Week and the Catholic Bishops Conference of the Philippines ‘2006 Year of Social Concerns’ initiative. Interestingly, informed sources said the SFP is the brainchild of a male – so maybe he should be made an "honorary woman."
| P2-B investment from UK company |
The planned 11-story complex by the UK-based Mabey & Johnson in Fort Bonifacio will spell an additional P2-billion investment to the country. According to Mabey, the complex will house its regional offices and WinSource Solutions Philippines, Inc., its IT and BPO affiliate in the country, with groundbreaking ceremonies scheduled for June 18, 2006. According to David Mabey, chairman of the Mabey Group of Companies, the move is a response to President Arroyo’s call for more foreign investments and signals their company’s clear commitment to the Philippines and their belief in the economic stability of the country. Mabey & Johnson, Ltd. of the Mabey Group is the sole British manufacturer of prefabricated modular steel bridges which employ the latest state-of-the-art technology in steel bridge panel manufacturing.
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