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  1. Join Date
    Aug 2004
    Posts
    1,140
    #1
    Lights, camera, cut!
    (Inquirer News Service, Victor Agustin)


    ABS-CBN Broadcasting Corp. is readying an across-the-board early retirement program to slash by at least one-fourth the manpower complement of the country's biggest radio-TV network




    HEMORRHAGING ABS-CBN Broadcasting Corp. is readying an across-the-board early retirement program to slash by at least one-fourth the manpower complement of the country's biggest radio-TV network, according to the industry grapevine.

    A two months' salary for every year of service package looms as the ballpark incentive figure for the targeted "retireables", but ABS-CBN spokeswoman Maloli Manalastas was quick to caution that the executive committee was still a month away from submitting any package for board approval.

    ABS-CBN, which suffered this year its first-ever first-quarter net loss of more than P114 million since its 1992 public listing, had 4,262 employees and talents as of end-2004, as against GMA Network Inc.'s 2,370.

    The leaner and meaner GMA Network saw its first-quarter net income zoom to P400 million, from P246 million in the same period last year.

    Faced by rising operating expenses and flat revenues, ABS-CBN this year factored in no bonuses for its new chief executive officer, Luis Alejandro, and four other top officers.

    Still, the combined 2005 salary of Alejandro and company is estimated at P63.77 million, as against the P60.17 million (plus P15.04 million in bonuses) in 2004 and P58.29 million (plus P16.6 million in bonuses) in 2003.

    Also for the first time, ABS-CBN officers from the rank of manager and higher have been told to expect no bonuses this year as well.

    The industry lore is that ABS-CBN, which has one executive vice president, seven senior vice presidents and 19 vice presidents, is one top-heavy organization as compared to GMA Network, which has four senior vice presidents but also a number of presidents running its subsidiaries.

    GMA Network board member Joel Marcelo Jimenez said the network has "competitive" executive compensation package but it is the quality of the programming that makes or breaks a network.

    And of the 15 top TV programs monitored nationwide in April, 12 belonged to GMA Network.

    Keeping the paper's Standard

    OVER at another media outlet, the management of the merged Manila Standard Today will most likely promote columnist Jojo Robles to become the paper's interim editor-in-chief following the hasty departure of industry icon Jullie Yap Daza.

    According to the grapevine, the management has decided to appoint Robles to fill up the editorial void left by Daza and the continued absence of the new executive editor of the merged paper, Lourdes Molina-Fernandez, a Today import.

    Even the new publisher, Representative Teodoro Locsin Jr. of Makati City, has not been reporting for work although the Standard union has dropped its industry complaint about his appointment.

    According to the grapevine, the management has considered at least two outsiders for Daza's position, but in the end decided on an in-house replacement after weighing in competence, compensation, and industrial relations considerations.

    Money-go-round

    • THE LAST-DITCH talks held last week between Philippine Women's University and Jardine Land fell through, with the Hong Kong land developer now applying for a Supreme Court order for a writ of possession over a one-hectare portion of the PWU campus on the EDSA highway.

    Jardine Land foreclosed the property after PWU failed to settle a P210-million loan due since 1998. PWU failed to redeem the property within the one-year redemption period following a 2002 auction, where Jardine Land, for P150 million, emerged as the winning bidder.

    • THE DISQUALIFICATION complaint filed against Philippine Veterans Bank director Romeo Roxas has been thrown out by the Bangko Sentral ng Pilipinas, saying the Securities and Exchange Commission, not the central bank, is the proper venue for such an intra-corporate dispute.

    A PVB faction claims Roxas' father was not a World War II veteran as required by the bank's by-laws for its directors, but Roxas says his parentage had been clouded in the government birth records because his late father maintained a second family.

    Heard through the grapevine

    FIRST Gentleman Mike Arroyo flew to Singapore to attend the birthday party of Renato "Bing" de Guzman, the Filipino CEO of ING Asia Private Bank. Among the VIP guests who also jetted in from Manila was stockbroker Vivian Yuchengco.

  2. Join Date
    Feb 2005
    Posts
    641
    #2
    Ang dami kasing kinukuhang magagandang artista, nag-pirate pa ng ilan. Malalaki kita ng mga talents nila dyan.

  3. Join Date
    May 2004
    Posts
    1,175
    #3
    kahit sila nakakaramdam na...hard times. tsk tsk.

  4. Join Date
    Aug 2003
    Posts
    9,720
    #4
    ung mga annual bonuses ng top management is more than enough to keep a few hundred rank & file people employed for the whole year. ang general trend is top management keeps the bonuses while the people down below get axed.

    naalala ko tuloy si lee iacocca when he took over general electric(or was it general motors?). mineet nya ung mga workers and announced that his annual salary for that year was one dollar. he got a lot of respect from that move...

    ...di ko lang alam kung kasama pati bonus B)

  5. Join Date
    Oct 2002
    Posts
    2,716
    #5
    mga taga tsikot na lang kasi kunin nila, mura lang naman tayo maningil eh

  6. Join Date
    May 2005
    Posts
    473
    #6
    kala ko sila ang #1? yan kasi ang banner nila sa TFC overseas and kami naman na nandito ay naniniwala, in a way, kasi sila ang nagtetelecast overseas so walang pang kontra sa claim nila.

Lights, camera, cut!