Straight ‘Ping!’ for rehab

Like in golf when you hear that distinctive sound that goes ‘ping!’ telling you that you have made a good solid hit with the ball, the news of Ping Lacson being appointed as the “rehabilitation czar” for areas devastated by Typhoon Yolanda strikes a lot of businessmen as a good choice that’s spot on. The former senator is known as a no-nonsense person who has kept his nose clean as far as the Priority Development Assistance Fund a.k.a. pork barrel fund scam is concerned having adamantly refused to touch his allocation in his 12 years as senator – which is why Filipinos welcome his appointment hoping and believing that the rehabilitation funds will go where they are intended.

Government has initially allocated P38 billion for reconstruction and rehabilitation efforts for the disaster-stricken areas particularly in Eastern Visayas but the amount was revised to P40.9 billion to include logistical requirements by the local government units. As the rehab czar, Lacson will also be responsible for managing donations not only from local organizations and OFW groups but from the international community as well, with the money amounting to over P14 billion and donations still pouring in.

One of the concerns among donors is the fear that the money meant for the disaster victims might be used for other purposes and worse, could be channeled to fake organizations and ghost projects. Lacson’s reputation as a straightforward, straight shooting kind of person can do a lot to appease and assuage public apprehension over misuse of the rehab funds, with projections that the total amount for reconstruction could reach P100 billion.  Ping had said he wants to do his job with flying colors – and anyone who tries to dip his dirty fingers into the disaster relief fund could be at the receiving end of a big flying kick from the former PNP chief.

More people shopping online

Black Friday is traditionally the biggest shopping day in the United States and although sales were brisk – with great hordes of shoppers stampeding the minute department stores opened their doors – records show a slump of over 13 percent in sales compared to last year, much to the disappointment of retailers. According to research firms, Thanksgiving Day sales ate up the profit for Black Friday (the Friday after Thanksgiving which is celebrated on the fourth Thursday of November).

A big surprise however is the amount of online sales generated both for Thanksgiving and Black Friday, reaching over $1.2 billion, clearly showing that the shopping habits of people are starting to change with more and more individuals purchasing from the comfort of their homes via smartphones, tablets and other smart gadgets. A survey conducted by IBM on 800 online shopping sites also showed that mobile phone purchases increased 40 percent compared to Black Friday sales last year. Interestingly, while more and more Americans are using their smartphones to browse though merchandise, they prefer to use their tablets as virtual “checkout” counters, with online or e-commerce sales reaching more than $20 billion for November alone. 

According to the National Retail Federation, about 97 million Americans planned on shopping online for Black Friday, most likely because they find it more comfortable to conduct their business from their couches or beds rather than fighting it out with other shoppers or standing long hours waiting inside malls and stores. That’s certainly smarter shopping.

Demand for Gulfstream G650 increasing

Increasing demand for the world’s fastest, biggest and most expensive business jet is giving billionaires an opportunity to make millions of dollars in instant profits simply by selling their Gulfstream G650 (originally priced at $64.5 million) at a range of $70-$72 million. Last month, the G650 broke the around-the-world record for a non-supersonic jet when it circled the globe in 42 hours and 7 minutes, the fastest for a C-1 aircraft.

The twin-engine G650 is considered to be the most advance business aircraft with a whole array of sophisticated technology and safety features such as an enhanced vision system, synthetic vision primary flight display, automatic emergency descent mode and a 3-D weather radar that give the pilot and the flight crew a better handle and awareness of the flight situation. The Gulfstream jet’s spacious cabin – said to be the tallest and widest compared to any cabin in its class – can be reconfigured to comfortably accommodate up to 18 people, with wider seats plus an allowance for a conference table.

More importantly, its speed – which can reach Mach 0.925 – means more time saved traveling from one continent to another. And as they say, time is gold – which is easily one of the reasons why the G650 has become the “gold standard” for business aircraft. We’re told that only 35 deliveries have been made since the G650 aircraft was launched last year – and anyone who wants to buy one will have to wait until the third quarter of 2017. That’s about four years of waiting time – which is why those who want to have one now are eager to buy “pre-loved” aircraft even if it will cost them $5 to $7 million more than a brand new one.

We’re told that several American billionaires are negotiating with buyers in Asia, Middle East and Latin America. We know of at least two local billionaires who have placed an order or are about to place an order – but since the waiting time is rather long, we won’t be surprised if they would just decide to buy a previously owned aircraft even if would cost them more. After all, the G650 has become the ultimate status symbol as far as wealth is concerned.

***

Email: [email protected]