Where are we in the global scheme of things?

Yes, we have not recovered what we lost in the last five years or so. Business conditions are not what they used to be, although some optimists count the few measly points gained in the index at the bourses as a sign of better times. If it is any consolation, we do not have proprietary claims on this ignominy. There are several factors that have contributed to this, especially in the Asian scene. Last June, the first case of human avian flu broke out in Indonesia. Previous to this, there were 54 documented deaths in several parts of Asia – Thailand, Cambodia and Vietnam. Naturally, the Chinese and Indonesian authorities moved swiftly to stem the outbreak. Bali, that Indonesian paradise, was threatened with a massive outbreak, and as a result, they had to kill thousands of chickens to pre-empt it.

To date, WHO has announced an effective H5NI antiviral drug, and its out in the market. So far, this is the only one of its kind, so let’s hope there are no new strains of bird flu. At the rate this type of virus mutates, the scientists at WHO will have their hands full just stop-gapping these mutants.

It’s the season for bird migration now, and although we have been thankfully spared from this deadly virus, our local authorities are watching with eagle eyes the dangers posed by our feathered friends when they migrate from colder countries. With our present political upheavals and devastating economic slump, God knows we don’t need this kind of calamity in our soil.

The global terrorism threat is very strong in Asia, and with the recent Bali bombings, resort countries like Thailand and the Philippines stand on fairly shaky grounds. Although the threat is real elsewhere, the perception, and the naked reality, is that most of the bigger nations are better equipped than us in providing security and dealing with the aftermath.

The anxiety over the much-dreaded $60 oil is also global, but we are feeling the pinch more. The man on the street feels the P1 per kilo increase in cooking gas almost every week, and so does the jeepney driver. About the only ones benefiting from these soaring prices are the giant oil companies. Last year, British oil company BP ranked 2nd in the world’s top 500 corporations, with revenues of $285 billion chalked up for the year. That rate overtakes Wal-Mart, although this giant retail chain still hangs on to No. 1 position, for the fourth time in a row. Speaking of Wal-Mart, did you know that they employ 1,700,000 employees, much much more than the US Postal Service’s 807,596 employees? McDonald’s. which seems to have a store in every corner, has 438,000 employees across the globe.

Back to the oil companies. Among the oil giants, Exxon Mobil posted the best profit picture and is third over-all in the top 500. Royal Dutch/Shell is in close fourth, with revenues up by a staggering 33 percent, their profits soaring by 46 percent in 2004. I am surprised that Petronas of Malaysia could only manage No. 133, although with this recent posting, it is up quite a few notches from its last position (No. 186). Total and Chevron are No. 11 and No. 12 respectively on the list, with revenues up by 29 percent.

So why can’t these giant oil companies not absorb some of the impact of the run-away oil prices? Or am I dreaming?

Since we’re in the subject of the top companies, Toyota surprised many with its most recent profit disclosures. Although General Motors and Daimler-Chrysler are in the No. 5 and No. 6 positions, higher than Toyota which is in No. 7, the Japanese automotive giant earned a staggering $10.5 billion, more than the combined earnings of Ford, General Motors, and Daimler-Chrysler for the past year, earning the distinction of having the highest profits among the automobile makers.

Steady at No. 8 is Ford, while Honda and Nissan race each other neck to neck at respectable positions – Honda at No. 27 and Nissan at No. 29. Other rankings for the automotive makers are: Peugeot (No. 39), luxury car maker BMW (No. 71), Renault (No. 80), Hyundai (No. 92), Mitsubishi (No. 149), Mazda Motors (No. 211) and Suzuki (No. 255). Mitsubishi crept into the magic list of top 25 climbers in rank gain, up a remarkable 240 notches from the previous year, with 131.9 percent improvement in its revenues.

I’m still smarting from the fact that no Filipino company has gained entry into this prestigious list. South Korean steelmaker Posco posted healthy revenues and gained position No. 276, up an amazing 85 notches from the previous year. China’s Shanghai Baosteel Group gained 63 notches to land in No. 309. Last year, the Baosteel group produced 21.3 million tons of steel, and profits soared 66 percent in the same period. They have broken into the steel market big time – they’re into automobile manufacturing, ship building, transportation, power generation, and even oil and gas exploration. They are committed to making China the biggest research and development base in Asia, and theyíre getting there. If you consider that the giant United States Steel landed only at No. 437, much lower than Korea’s Posco and China’s Baosteel, they’re really going places.

Alas. Too much politicking in our lands have turned away potential investors. They are looking at China and India for possible ventures. As of March this year, foreign investments in India alone were at $13.5 billion, although it stood at $16 billion the year before.

In service jobs where we are pinning our hopes right now, we seem to have an edge over the other Asian nations because of our proficiency in English. Thank God for that, but India is edging closer, faster than we know it. They, too, are quite proficient in the English language.

Among the world’s labor force in engineering, do you know that China and India have also edged us out, both coming in close at 2nd and third behind the United States in a recent survey among young engineers who could successfully work at a multinational company? The Philippines ranks a far 5th, with half the resources of India, behind 4th placer Germany. Among low-wage countries, the Philippines continues to be edged out by Johnny-come-latelys. I hope our dominance in the call center industry holds. Our language proficiency continues to be our biggest asset in the global labor market.

Labor’s Gain

I’m glad to hear that USec Mike Luz is exercising his option to stay in the government pool of career officers. Should Mike accept his transfer to the Department of Labor, where no less than its head, Secretary Patricia Sto. Tomas had expressed her willingness and enthusiasm to have him, he will surely be able to contribute his valuable inputs for the betterment of the Filipino worker.

Interesting Viewing This Weekend

It’s the Ilustrado Restaurant that’s this week’s host and venue of the TV show Business & Leisure (Sunday evening at 10:30 on Channel 4 Manila and seen all over the country via satellite on the National Broadcasting Network). As this fine dinning restaurant located within the history-laden walls of Intramuros celebrates its 16 years of culinary excellence. I’ll have a short chat with the noted tandem of restaurateurs behind its success, Bonnie and Rose Pimentel together with daughter Bea who now helps very actively in running the place. Our guest this week is another young racer who’s further making his mark by sharing his driving expertise to the very, very young enthusiasts, Jean Pierre "JP" Tuazon, scion of the late racing track exponent, Arthur Tuazon. On our segment "Quest" where we spotlight different sports disciplines Pinoys aspire to shine in, we’ll have Table Tennis. On "Places" where we pick on some destinations that we recommend, Ginny Dandan’s BMK Apizza, that quaint powerhouse of culinary delight. Donít fail to watch.

Mabuhay! Be proud to be a FilipiNo.

For comments: (e-mail) businessleisure-star@stv.com.ph