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Mercedes B. Suleik
Communication, mercy and ethics
This is the 50th year that a message on communications has been issued by the Vatican; World Communications Day was celebrated in January this year. For this month of October, I would like to share the message of Pope Francis: “That journalists, in carrying out their work, may always be motivated by respect for the truth and a strong sense of ethics.”
Toward inclusive growth
At the Business Consultation Workshop held in Davao in June, a number of actionable recommendations were put forward. Among those I consider most likely to promote inclusive growth and soonest are a few that can be acted on quickly.
The ‘fraud triangle’
A lot of business stories over the years have focused on financial crimes as we discussed in an article previous to this. Lying, cheating, and stealing have been done by corporate executives and others to line their own pockets with shareholders’ money. Whether one is talking of major fraud or small-time embezzlement, the perpetrators are often very clever and able to cover their tracks. Thus, audit committees should be very alert to the “fraud triangle”—a combination of three factors that should lead them to wrongdoers.
The anatomy of financial crime
Recent reports about what appeared to be money-laundering schemes involving a domestic bank have sparked an interest in financial crimes and fraudulent activities.
The servant-leader
Business, government and the world are in an endless quest for the “ideal leader.” Many seminars are engaged in learning what makes a “true leader.”
Ethics and corporate governance
Robert Haas, CEO of Levi Straus, reportedly said, “In the next century, a company will stand or fall in its values.” Indeed, as the third millennium began, this statement was confirmed by the corporate scandals that led to the downfall of such high-flying companies as Enron, Worldcom, Tyco, Andersen and a host of others in corporate America. Neither did corporate Europe and Australia remain unscathed. Nor could the Philippines claim to be more virtuous. As we know now, these scandals led to a resurgence in corporate governance, and more to the point, to a recognition that ethical behavior and sound business practice go hand in hand. As I had written back in 2004, and I reiterate now, ethics and corporate governance is the correct paradigm.
Punlaan School–transforming lives
Punlaan School, a project of the Foundation for Professional Training, Inc. has contributed over the last forty years to the efforts of nation-building through its commitment to educate and provide employable skills to marginalized women. To date, it has helped more than 11,000 women through its various programs and some 3,000 more are graduates who are now gainfully working in various establishments both here and abroad. The holistic program offered by Punlaan includes training in skills for the hospitality industry, developing good work habits, and nurturing positive values that are essential to a dignified life.
The call of the tax collector
IN a few days the deadline for paying one’s income tax looms. And not a few of us think, there go the Bureau of Internal Revenue (BIR) examiners making hay again. For indeed have some of us not have had the misfortune of harassment by some examiner or at least heard of horror stories of being assessed twice what he had paid, and being told it could be “fixed” for an understood amount.
2015 national economic performance
RECENT data released by the Philippine Statistical Authority (PSA) indicated that 2015 reflected positive performance in the country’s national accounts. At current prices, GDP totaled P13,285 billion compared to P12,643 billion during 2014, while GNI at P16,062 billion was higher than the P15,527 billion during a similar period in 2014. At constant prices (2000 as base year), the figures were, for GDP P7,580 billion and for GNI P7,164 billion during comparable periods in 2015 and 2014. GNI (at constant 2000 prices) amounted to P9,110 billion and P8,641 billion in the years 2015 and 2014, respectively.
An institution’s centennial
This year, on February 10, an institution in the Bangko Sentral ng Pilipinas (BSP) celebrated her centennial. I am talking of Mrs. Escolastica B. Bince, who is, if anything, an institution in the BSP, having been one of its originals when the central bank was created in 1949. A ’49er, she was one of the elite group of pioneers who opened the doors of the newly established Philippine Central Bank.
The market in light social doctrine
AS the new year begins, it is time for the world to consider the ramifications of looking at economic recovery, growth and development not just from the context of technological progress and the workings of the free market, but also from the perspective of Christian social doctrine. It is time to come out with a deeper analysis of what is taking place in our world from the point of view of true human development.
The family and civil society
I have often written about the family becoming an endangered species. The family, we must be convinced, is a vital cell of society, in fact its nucleus, its very heart. These days, when questions connected with population growth are considered as secular concerns of the government, little heed is given to respect for both sexual morals and sexual ethics and of promoting greater justice so that dignity is given to life in all circumstances. At the same time, as concerns about health and the promotion of longevity through new scientific techniques gain much favor, among them cloning, genetic engineering and stem-cell research. On these issues we must take an intelligent and responsible stance with regard to such techniques, which are invasive of the right to life from its inception.
Protecting minority shareholders
WE all know that advocacy for the growth and improvement of the capital market, a dynamic and robust capital market will result in the ability to secure funds to finance the nation’s development activities.
Gender diversity in boardrooms
On September 15 Insitute of Corporate Directors (ICD), through its Distinguished Corporate Governance Speaker Series, invited Irene Natividad, president of Global Summit of Women and chairman of Corporate Woman Directors International, to speak on “Board Diversity: Role of Woman Directors.” This has been a topic of interest in recent years, making its way to the forefront and leading to a collaborative environment that is essential to good governance, better financial performance, increased innovation and provide better opportunities for women.
Understanding sovereign ratings
AT a seminar organized by the Bangko Sentral ng Pilipinas (BSP), a presentation was made by the Sovereign Risk Group of Moody’s Investors Service on the methodology of sovereign bond ratings. Moody’s Sovereign Ratings provide: (1) a common language of risk, easily understood by market participants; (2) a level playing field for all investors; (3) a frame of reference that facilitates comparability among sovereigns in the form of a relative-value analysis; (4) an objective measure of accuracy and stability over the medium terms; (5) a benchmark for the credit-worthiness of other issuers and transactions in an economy; and (6) global coverage, with 120 sovereigns publicly rated.
Corruption: Cancer of society
CORRUPTION, the term used for giving or asking for money, or bribes to win contracts or favors, for abusing political powers and diverting public funds, is a common problem in all countries, developed or developing. One could truly say that corruption is a cancer of society. Indeed, even Pope Francis has called it a “gangrene of the people.”
Saving our only home
IN time forgot, an early morning drive in the South Expressway was a pleasurable one—you could keep your windows open and breathe in the cool crisp air and enjoy the view, the clear blue skies, Laguna Lake, and in the distance, Mount Makiling capped by frothy white clouds. Today you have to keep your car windows closed in a vain attempt to save your lungs from the pollution of smoke-belching buses and the emissions from the factories that line the east and west sides of the expressway.
Asian and western governance
CORPORATE governance, which is about the way companies are directed and controlled, have different ways of practice in Asia and the West even if the underlying principles are the same throughout the world. True enough, both strive to protect the rights of shareholders, to create an environment of transparency and disclosure, and to define the roles and responsibilities of stakeholders in running a company. These principles, aptly classified into five by the Organisation for Economic Co-operation and Development (OECD), are important to ensure a stable and competitive business environment and to attract investment, especially in the case of publicly listed companies.
‘www.com’
SOME time in 2008, I wrote an article about a homily preached by Father Jeff, a young, and obviously technically savvy priest, using a paradigm that young people are very familiar with. His homily could not but touch a chord in their hearts, and Father Jeff is one of those young priests who are able to deliver God’s message in a language that young people are able to connect with in their lives. Allow me to return to that article, which continues to be relevant.
Social significance of economic policy
THE modern world stresses that business and economic policy cannot determine whether any activity is ethical or not, or to put it another way, whether these two sacrosanct features of our world have any social significance which impact on humanity. We are in the midst of a consumeristic society that is the result of the science of production, distribution and consumption of wealth (i.e., economics as defined), and has made possible modern market products as Internet stock valuations, derivatives, hot money transfers, online shopping, gaming, etc. that today’s economic man may have at will. And so economic policy is expected to ensure that economic goods must be made available to every citizen, i.e., that growth is the objective and goal of such policy. Ethics is in a totally different dimension.
The feminine genius
THE month of March has been traditionally observed as Women’s Month, and, once again, the issue of gender discrimination rears its head. Women’s rights are tossed about, particularly in relation to the raucous activism of “feminists” as juxtaposed against women’s beliefs, their faith, and their cultural and traditional inclinations, often tauntingly termed as medieval impositions (read Catholic Church) on unenlightened women. Indeed, the term “new feminism” used by Pope John Paul II in the Encyclical Letter Evangelium Vitae (The Gospel of Life) in 1995, has been kidnapped (or should I say word-napped) by these feminists, who took his words out of context and used it for their own purposes. Likewise, to further strengthen the argument, they insist that this “new feminism” rejects the temptation of imitating models of “male domination” as something that the pope himself said. (Unfortunately, recent contentions that the present Pope Francis approves of homosexuality, is a selective taking out of context once again, though I mention this only in comparison.)
Responsible media reportage
‘IT must be true; it’s in the papers.” Such is the faith and respect of the general public that what is seen in print is considered gospel truth. And, yet, with what disregard, many of our newspapers treat their reading public, as a lot of the time, what is printed as “news” is inaccurate, or worse, “half accurate” or, is editorializing disguised as fact. Sadly enough, this kind of reportage is not exclusive to tabloids, and, indeed, in some instances, you no longer can distinguish between the so-called broadsheets and the tabloid.
Saxum: Alvaro del Portillo
SAXUM—the Latin word which means rock. This was a nickname given to Don Alvaro del Portillo, by Saint Josemaria Escriva, the founder of Opus Dei. Don Alvaro was the founder’s closest associate and successor. He was the first prelate of Opus Dei when it became a personal prelature, and became a foundational rock for this group that is devoted to sanctity in ordinary life. Don Alvaro was a person of powerful integrity and conviction, humble and faithful, who set aside a promising engineering career to follow the vision of Opus Dei.
All Saints’ and All Souls’ Day
THE Philippines being mostly a Christian country has long observed All Saints’ Day and All Souls’ Day as part of tradition. Indeed these days are even considered as secular holidays as well, with people trooping home to the provinces to visit the gravesites of their beloved dead. In the Philippines the observance of Araw ng Patay is held on November 1, as we of course believe that our beloved dead have become part of the community of saints in heaven.