No read, no write

Low-profile Lucio Co is open to the selling of the Fontana resort inside the Clark Special Economic Zone. Mr. Co – who markets himself as a no read, no write (probably in English) kind of entrepreneur – is uncomfortable with the kind of notoriety by association that Fontana continues to generate.

With the sale, Mr. Co will concentrate on the PureGold group.

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Did you know 1: For most Filipino nurses, the biggest hurdle to getting a job contract – some as high as $40 an hour – in the United States is lack of English proficiency. A nurse, after all, must be able to communicate with her patients (where it hurts and what must be done to ease the hurt), not just change bedpans.

By the way, part of the English proficiency test involves a city map. The one taking the test has to write down directions on how to get from one specific place to another specific place in the map.

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Did you know 2: These days, the internal revenue allotments of provinces in Central Visayas no longer have to pass through Cebu. But all other funds particularly those for big infrastructure projects – still do.

This strange set-up is said to be one reason why Cebu is significantly more prosperous and the other provinces in Central Visayas like Bohol.

By the way, Bohol – which is tagged as the Ilocos of the Visayas for obvious reasons – has enough disposable income to support a Jollibee store in its capital of Tagbilaran. A McDonald’s outlet is currently being put.

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Did you know 3: Red Ribbon Bakeshop is interested only in franchising outside Metro Manila. The new strategy is to own all to-be-opened outlets in the capital, which accounts for the bulk of revenues.

By the way, the franchise fee is P1 million but total investment is about P10 million, inclusive of the property.

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Bank notes 1: In a way, the senior level new hires at Philippine National Bank are taking a gamble with their respective careers. Okay, their moving to PNB is no hardship in terms of their individual compensation packages (which are said to be very attractive indeed).

They might, however, find themselves without jobs five years down the road when government and the Lucio Tan Group jointly sell their shares. By that time, most of these new hires, including president Lorenzo Tan, will still be nowhere near the retirement age.

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Bank notes 2: Metropolitan Bank and Trust Co. president Antonio Abacan Jr. can move on to other things (like playing golf) now that all the branches of Global Business Bank have been converted into Metrobank branches.

As in previous years, Tony Abacan’s marching orders from his board led by George S.K. Ty is to make sure Metrobank remains the country’s biggest bank. That means making sure that Xavier Loinaz retires as president of the country’s second largest bank, the Bank of the Philippine Islands.