They should. After one of the largest television networks left the fold of the Kapisanan ng mga Brodkaster sa Pilipinas or KBP, this TV station has reportedly enjoyed to the hilt, and with impunity, the results of its KBP exodus. Its advertising load per hour is now reaching as high as 30 minutes, compared to the 18-minute limit set by the KBP and Adboard.
What’s wrong with watching 30 minutes of advertisement per hour? Not only are the television viewers being shortchanged, the advertisers are also suffering from a lower recall rate from the viewers.
The question now facing other TV stations is whether it is still worth being a member of the KBP if that means having to abide by the 18-minute limit and letting their competitor absorb all the other advertisers that could not be accomodated.
The advertisers and TV networks are now calling on their industry organizations to look into the matter seriously. If these organizations cannot protect their ranks, what’s the point of being a member?
This ex-KBP member network, meanwhile, is all over the papers heralding its advertising revenue numbers (whether true or not) as a prelude to its offering part of its shares to the public. Its competitors feel that by doing so, this TV station is adding insult to injury.
According to an account executive of Nenaco who requested anonymity, out of the more than 15 sales representatives which the shipping firm previously employed, only four of them remain with the company.
Since the issue on the financial woes of Nenaco blew up, AE’s just started leaving the company as they saw no clear direction being taken by company officials. Rather than be caught off guard with a possible closure of operations, they just decided to start finding work elsewhere.
The same account executive even confided that another reorganization is in the works as one of their senior officers, Gerry Enciso has been meeting daily with Metro Pacific top management. The account executive also said that sales representatives of Nenaco have been ordered to focus on collections as the company is very short on its payment of outstanding payables.
It was also learned from Nenaco insiders that another concern that the company is facing is the required drydocking of several of its vessels by August 2004. With very little revenue from operations coming in, these Nenaco insiders are at a loss as to where company officials will get the much needed cash to pay for their drydocking requirements. At present much needed repairs on several Nenaco vessels have not even been addressed.
Extending the permits of these vessels sans drydocking is not an alternative for Nenaco. The Maritime Industry Authority (Marina) which oversees this mandatory requirement for ships has said that no extensions will be given to the Nenaco vessels which need to be drydocked.
With Nenaco president Conrado Carballo on an extended vacation in New Zealand, company vice president and general manager Bimsy Mapa has taken direct supervision of the shipping firm’s passage operations.
What really destroyed the morale of Nenaco’s employees, according to sources, was the reported $12,000 monthly paycheck being received by each of the expats, not to mention the free housing, cars and bodyguards accorded them. Simply, they bled the company dry, the employees complain.
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