It’s about time: Electric jeepney challenges the old King of the Road.
The top 10 occupations in the talent shortage list were jobs for accountant, computer programmer, engineer, financial analyst, human resources development manager, information technology technician, lawyer, manager, nurse, and sales/marketing representative.
The only item that surprised me is that lawyers are still in short supply! But the list actually goes on and on…
In Newbsreak’s Verdict on Estrada Nears, there’s an interesting report on the jockeying for the remaining vacancy in the Supreme Court, and how the person to get the job might get it, depending on how the Sandiganbayan decides on the cases against former president Estrada.
Even more interesting are the different options the court has, as far as rendering a verdict is concerned. Acquittal seems the most remote, not only because of the evidence, but because under the plunder law, if an official is acquitted, then he is reinstated in his position. Obviously the government wouldn’t allow that. On the other hand, an outright full conviction for plunder (even if followed by a presidential pardon) might lead to trouble in the streets, so that might not be good, either. A more prudent course, some legal observers feel, might be to convict him on a lesser charge (instead of plunder, graft and corrupt practices) which could carry a penalty equal to the time Estrada’s already spent in detention. Anyway, the headlines are, indeed, Verdict on Erap out soon and so it’s handy that Anti-terror law to push through on July 15.
Speaking of other cases, 7 years for 54 Oakwood mutineers, while Gen. Garcia’s wife, kids disappear; lawyers withdraw. So let’s see, the rebels actually faced the music, while the top brass… oh, never mind.
Sources said Mrs. Arroyo had expressed dismay over the apparent delays in the construction of the link in Metro Manila’s railway system.
“Where’s my loop?” she reportedly demanded.
Sources said she ordered Transportation Secretary Leandro Mendoza, Metropolitan Manila Development Authority Chairman Bayani Fernando and Presidential Management Staff chief Cerge Remonde on Tuesday to ensure the project’s completion by 2010.
The sources added that Mrs. Arroyo wants the bidding for the project to be conducted as soon as possible.
The directive reportedly triggered bickering among the three officials, particularly between Fernando and Mendoza, as to who should be on top of the project. Remonde is also head of the Palace’s Infrastructure Monitoring Task Force.
So no wonder the President keeps getting into trouble, for every victory she gains.
Peso Asia’s second-worst currency since crisis – DBS. And here’s the clincher, which our government had better pay attention to:
DBS said the fiscal slippage in the Philippines early this year would likely take its toll on the peso.
“Although we still like the peso, we believe that the fiscal story that supported it may have run its course. Looking ahead, further gains may need to be predicated on an investment story,” DBS said.
For the 1997 Asian Crisis and its aftermath, see The Economist Post-Mortem on the Asian Crisis and From the Press: EMU, CDOs/CLOs and Asian Crisis Post-Mortems.
As for deficit news (the slippage the Singapore bank’s talking about),GMA scolds Customs execs for P13-B shortfall in 1st sem; still, scolding aside, the 6-mo. deficit at P37.7B; tax targets stay, and so State considering sale of more assets to cover deficit (in PNOC-EDC and, surprise, surprise, San Miguel Corporation).
Why do we need to connect the dots, and not just leave it to the pros? As David Llorito puts it, Complacency kills!
Overseas, Shops emptied as panic grips Zimbabwe. And for boosters of a strong currency, a cautionary tale: as Baht ‘may hit 30 to $’ Experts urge BOT to be vigilant, there’s cause and effect: Japanese firms cut investments in Thailand.
The Guardian reports Made in China: tainted food, fake drugs and dodgy paint:
China is facing a global crisis of consumer confidence as the country’s food safety watchdog acknowledged this week that almost a fifth of the domestic products it inspects fail to reach minimum standards. Following a number of contamination scandals in the US, the world’s biggest exporter is struggling to prove that it can match quality with quantity….
…Last month, the government published its first five-year plan for improving food and drug safety. It closed 180 food factories in the first half of this year and seized tonnes of sweets, pickles, crackers and seafood tainted with formaldehyde, illegal dyes and industrial wax.
But the government also stands accused of reacting slowly to scandal rather than dealing with the root causes: a lack of trust in the safety standards of a country with a profit-first economic policy and a secretive, unaccountable political system.
Public confidence has not been helped by an official response that includes denial and scapegoating.
The need to counter such exposes is shown by this commentary in China Daily, Teeth for food standards, which tries to sound upbeat about the beating Chinese products have been getting:
Food safety standards are vital to both the health of the public and the development of the food industry. The food we exported overseas was sometimes found as falling below the standards required by importing countries. This is not because the food itself was of low quality but because the standards we use may be lower.
It is becoming increasingly urgent to raise the food safety standards to international levels. GAQSIQ and SSA have apparently long realized the importance of this issue.
The two departments reduced the time limit from 12 years to four years for revising food safety standards. The goal would bring a complete overhaul by the end of the 11th Five-Year-Plan period (2006-10). They want food safety standards to be revised every two years by 2010.
This is good news for consumers. At the same time higher demands will be imposed on food producers. But the higher standards can hardly materialize without the cooperation of producers.
On another China note: Hong Kong’s Media Ignore Falun Gong’s Marchers. Meanwhile History Unfolding reprints a letter written by Lawrence of Arabia complaining of British policies in Iraq -and which sounds as it was referring to present-day American policies there.
John Mangun says IPO’s in the stock market are great, but please, don’t view shares of stock as something like buying lottery tickets.