Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
THE end of Sears, Roebuck & Co. predicted by Warren Buffett 14 years ago. I personally find it ironic that the iconic retailer that started mail order catalog was displaced by modern-day Amazon using the same delivery by mail that Sears once pioneered. Buffett was once asked about hedge fund manager Edward Lampert and his…
The clients are 63 and 64. They are young seniors. Up to 65, you are a young senior in my book. You can get senior discounts at Golden Corral for a satisfying buffet. Last time I went there, half of the patrons looked like they were over 65. A lot of them looked like they…
Global ‘McDelivery Night In’ includes ‘Staying In’ clothing line dropping Sept. 19 Chicago — McDonald’s now delivers to more than one million customers around the world every day. To honor this milestone, on September 19th McDonald’s and Uber Eats are encouraging customers to enjoy a “Global McDelivery Night In” – one night dedicated to enjoying…
The Department of National Defense (DND) on Monday, September 16, said it has a concern over the agreement between the Armed Forces of the Philippines (AFP) and Chinese-linked telco firm Dito Telecommunity Corp. “Nothing unusual, just that when somebody puts something up inside camp, we have to look into this always,” said DND spokesperson Director…
LET’S learn a few things from the greatest investor of all time – Warren Buffett. It’s OK If You Don’t Know Much About Investing. Most investors do not have business degrees. Most do not take courses in stock investing. Warren Buffett wrote in his 2013 letter to Berkshire Hathaway shareholders: I have good news for…
CHAPTER 7 is called the fresh start because it wipes out all dischargeable debt while allowing the debtor to keep most, if not all, of his assets. Meanwhile, Chapter 13 is the reorganization of debtor’s financial affairs because he or she is allowed to restructure debts with partial or no payments. In Chapter 7, the…
CHASTITY Jones, is a 42-year-old single mother, who worked as a sales accountant Hologram USA and FilmOn.TV, companies owned by billionaire Alkiviades David. FilmOn.TV Networks is an online television service and Hologram USA operates a hologram theater in Hollywood that has produced holographic images of entertainers Billie Holiday, Jackie Wilson and Bernie Mac. Jones said…
THE House of Representatives gave its nod to a bill allowing more foreigners to practice their profession in the country and lowering the direct local hires required of foreign investors. Voting 201-6, the chamber favored House Bill No. 300 that will amend Republic Act No. 7042 or the Foreign Investment Act of 1997 if enacted…
Lesson No. 1: Be Frugal Warren Buffett is a multi-billionaire; yet, he lives simply. He still lives in the same modest house in Omaha, Nebraska that he bought 50 years ago. He drives his own car. His simple life affords him more to invest. He demands this same quality from managers. Buffett is wary of…
CHASTITY Jones, is a 42-year-old single mother, who worked as a sales accountant Hologram USA and FilmOn.TV, companies owned by billionaire Alkiviades David. FilmOn.TV Networks is an online television service and Hologram USA operates a hologram theater in Hollywood that has produced holographic images of entertainers Billie Holiday, Jackie Wilson and Bernie Mac. Jones said…
LET’S give bankruptcy a historical and legal perspective. Right now, when we say bankruptcy law, we refer to the federal law called the “Bankruptcy Code” of 2005. Creditors did a lot of lobbying in Congress to fashion the 2005 bankruptcy Code to enhance their interests. Thus, the 2005 Bankruptcy Code incorporates the “means test,” which…
IN recent years, studies have shown that the Philippines continues to be an emerging market for economic growth. It is also considered as one of the most dynamic economies in the Asia Pacific region, with increasing urbanization, a growing middle income class and a large and young population. These factors, among others, make the Philippines…
The Department of Tourism (DOT), in partnership with Filipino fast food chain Jollibee, launched the “Eats More Fun in the Philippines” campaign over the weekend in a bid to take the promotion of the country’s food tourism to the next level. The campaign is aimed at inviting food enthusiasts and tourists alike to visit the…
WARREN Buffett, the world’s greatest investor, loves value stocks – stocks that are trading below their intrinsic value. He uses investing tenets which are categorized in the areas of business, management, financial measures and value. Value Buffett seeks a company’s intrinsic (built in, inherent) value. He projects future earnings and discounts them back to the…
ARE you constantly worried about your finances because of debts that you can no longer afford to pay? If you are in more debt that you can repay, you may be overwhelmed and don’t know what to do. If you’ve tried to solve your debt problems on your own but nothing has worked up to…
KIMBERLEE Gutierrez worked as a patient registration clerk for Dignity Health for 9 years. Kimberlee had a history of mental disability, which worsened when she was violently attacked by an ex-boyfriend. She took a medical leave of absence for her disability. When she returned to work, she claimed that she faced discrimination. When she tried…
MANY people who need debt relief are afraid to file for Chapter 7 or Chapter 13 because they fear that life after bankruptcy will be difficult. The fear is that bankruptcy will prevent them from getting new credit cards, buying a car, buying a house. Some even believe that they won’t be able to freely…
Eight Philippine companies secured spots on Forbes Asia magazine’s inaugural “Best Over a Billion (BOB)” list, which highlights the 200 top-performing listed companies across the Asia-Pacific region with revenues of more than $1 billion. “The goal is to find the region’s best-run companies that are doing well on not just one metric but across many…
6. Avoid Leverage That Amplifies Stress During A Market Crash: Sure, there’s stress during a crash – lots of it. Add margins (meaning loans that you incurred to buy more stocks) and you get more stress. Those loans have to be paid – right in the middle of a market crash. Malo. 7. Don’t Try…
WHEN people are going through financial difficulty and are unable to pay their bills, their first reaction is often to ignore their debts and avoid contact with creditors. They think that by doing this, somehow the creditors will simply give up and go away. Bad news: This rarely works. Then one day they get a…
THE client is 66. He purchased a business about 10 years ago for $2 million. He put in $500,000 of his own money and borrowed a $1.5 million small business loan through the Small Business Administration. The business owns real property worth $800,0000 in 2010. It derives revenue through rentals of the real estate that…
Q: I am a registered nurse in the Philippines but I have not yet obtained a license in California. However, I am working as a ‘private nurse’ to a bed-ridden patient in Los Angeles. My duties are mainly nursing duties – tube feedings, inserting catheter, tracheal suctioning, observing and recording vital signs, administering therapies prescribed…
SACRAMENTO – THE National Asian American Coalition (NAAC), the National Diversity Coalition (NDC), pastors, housing advocates and members of the state legislature’s Senate and Assembly Republican Caucuses celebrated the recent court victory on the return of the $331 million to the National Home Mortgage Special Fund with a press conference and victory rally in front…
DESPITE reports of an impending recession going into 2020, several Asian American and Pacific Islanders in Las Vegas argue that their businesses have been strong since President Donald Trump took office. Members of the Las Vegas Asian Chamber of Commerce, together with former Nevada Attorney General Adam Laxalt, led a roundtable discussion on Tuesday, August…
National advocacy organizations that sought the return of $331 million to a fund for struggling homeowners attended a victory rally in Sacramento on Wednesday, August 14. The National Asian American Coalition and the National Diversity Coalition, which led the lawsuit against then-California Governor Jerry Brown and legislative Democrats who diverted the funds for debt repayment,…
Q: I WORK as an on-call employee for a healthcare facility. My employer often calls me to report for duty but when I arrive to work, my assignment is cancelled and I am sent home. This has happened several times and I was not paid for a single canceled work even though they scheduled it…
Part 1 of 2 INVESTMENT guru Warren Buffett said that when the going gets tough, the tough goes shopping. No, he didn’t say that actually, but he did suggest that when the stock market plunges, go buy stocks – dirt cheap stocks. 1. Go shopping: See? I told you, he did say that. Instead of…
IF you’ve ever found yourself financially broke or buried in debt at one point in your life, I’m sure you still remember how it felt. The feelings of despair and helplessness, the sleepless nights, the endless anxiety about the future- A lot of people will never understand until they have experienced it for themselves. From…
Partido Manggagawa chair Rene Magtubo on Tuesday, August 13, said workers are appealing to the Bangko Sentral ng Pilipinas (BSP) to suspend the impending increase in fees for transactions conducted through banks’ automated teller machines (ATMs). Workers commonly withdraw from ATMs since salaries are now received through them. However, long queues at popular banks force…
IN September 2017, Equifax revealed that approximately 147 million people had their personal data stolen by hackers who got through the consumer credit reporting company’s servers. Last week, the Federal Trade Commission (FTC) announced that a reached settlement would allow those affected to avail of certain services and compensation. The settlement requires that Equifax pay…
