Please focus more on the economy, not just politics!

America has the potential for the greatest economic boom and spiritual renewal in our history. But we’re being held back by Washington politics, as usual. It’s time we move forward. — Steve Forbes

We still have a great amount of work to do in social development … We will use completely different means to resolve this problem, namely, we will ensure good economic growth. — Vladimir Putin

CEBU CITY, Philippines — One of the casualties of our Philippine style of politics — that of an all-out election war of attrition — is that the economy has seemingly taken a backseat in most national discussions, whether in the news, political debates or the priorities of both leaders and us, the citizenry. We have become political junkies! In the ongoing national elections, swayed mainly by high-octane emotions, advertising and dramatics, who among us raise crucial socio-economic questions on who among the election candidates can and will ensure a better Philippine economic future?

Promote News On Economy & Exports, Not Just Politics & Crimes

Even without the elections, I believe that our highly profitable TV networks have not yet fulfilled their responsibility to the public in one aspect of primetime news coverage: they have been ignoring or neglecting economic news and analyses.

It is sad that the death of a Catholic priest inside a Cebu motel or a bloody neighborhood brawl in Metro Manila, or the non-news of a little-known starlet becoming pregnant due to a studlet would merit national news coverage on TV, headlined as “nagbabagang balita” as we eat dinner. However, real news on the economy like the recent April 22 launching of a Philippine-made P1.33-billion bulk carrier ship is not big news. That was already the 105th vessel made by an amazing Cebu enterprise called Tsuneishi Heavy Industries (Cebu), Inc. or THICI in the seaside Barangay Buanoy of rural Talamban town, Cebu province.

Congratulations to the low-profile Aboitiz business clan here, led by chairman Jon Ramon Aboitiz and chief executive officer Erramon “Monchu” Aboitiz, for the recent launching of the 58,100-metric-ton bulk carrier MV Spring Eagle in Buanoy. This huge ship was manufactured in Cebu by Tsuneishi Heavy Industries (Cebu), Inc., which is a joint venture firm of Japan’s Tsuneishi firm and the Aboitiz Group.

THICI president Shinji Watadani told The Philippine STAR in an exclusive intervew: “Our projected revenues for this year will be P37.5 billion from our manufacture and delivery of 19 ships, all for export. I believe the world economy is recovering this year and will experience a boom in 2011. We are very happy to be building ships here in Cebu.”

After three years of working in Cebu, Watadani said he loves life in Cebu, thanks to the Aboitiz clan’s support, and admires the “good Cebuano workforce.” When asked for suggestions on how the Philippine economy can become more globally competitive, he said, “The Philippines has 10 percent of the national population as overseas Filipino workers; this is not all positive. This is also sad for their families, and there are good employers here in the Philippines like THICI that need good skilled labor, too. The Philippines should benefit more from your own skilled labor. Also, may I suggest that Filipino employees further improve productivity by avoiding too many breaks or resting on the job; that focus on work is very important so that your good talents can be maximized for the good of the Philippine economy.”

Other economic news not being highlighted on TV include this information shared with me by Aboitiz Equity Ventures first vice president Sebastian “Basti” R. Lacson (who said his brilliant Ateneo classmate Joy Belmonte-Alimurung is ideal to be the next vice mayor for Quezon City): Shangri-La Hotel in Mactan is one of the most profitable Shangri-Las in the whole world, and there’s a German-owned outdoor furniture firm called Dedon which has its only factory in Mactan for its world-class exports. I hope the rest of Philippine society can focus more on economic productivity and development more than internecine political patricide!

Celebrities’ Unwanted Pregnancies Bad For Economy; Promote Family Planning

By the way, part of the TV news was the recent pregnancy of unmarried starlet LJ Reyes thanks to Paulo Avelino, with her facetiously saying: “Happy kami pareho sa ibinigay ng God (sic). (We are both happy with what God gave us).” First of all, my objection to this non-news being in the TV news is that both of them are not even that famous! Best-selling tabloid Pilipino Star Ngayon was correct in saying that many people in the streets don’t even know who LJ Reyes is.

Second, this news and other, similar indiscretions like those of starlets Carlene Aguilar, Roxanne Guinoo and Valerie Concepcion might encourage many teens to believe that it’s cool or acceptable to become pregnant without marriage or when young. This is bad not only for the moral values of the youth, but also for our economy because it might encourage runaway population growth! Follow the good example of actress Judy Ann Santos: get married first and be sure you are ready to accept the full emotional and financial duties of parenthood! One way to rein in too-fast population growth and too many financially troubled families is to encourage young people to have kids a bit later.

Promote Micro-Entrepreneurs, Good Governance & Fiscal Discipline

Congrats to GMA Films, Viva Films and writer/director Jose Javier Reyes for the hilarious and well-made new flick Working Girls. It’s very entertaining!

There are many thought-provoking scenes and parts of the plot with problems that are economic and financial in nature. For example, the character of the talented Eugene Domingo is a struggling micro-entrepreneur who uses the Internet to sell fake products like designer bags. She has a husband who is not only a lazy and useless bum, but also a philanderer. How many such cases have we seen in real life, from the high and mighty elite families down to the street vendor or carinderia stall operator? Women in Philippine society are often the breadwinners of families, but I hope they will not forever be martyrs and tolerate their men’s bumming around because it’s bad for the overall economic productivity of the Philippines.

One of the interesting subplots in Working Girls is the character played by Ruffa Gutierrez (who’s the May issue cover of the S magazine entertainment glossy), as a working-class beauty queen who gets married to an older rich guy and ends up a problematic widow quarrelling with her snooty stepdaughter, played by Cherie Gil. Lesson? Always be sure that your family, especially your husband, father or grandparents, have good estate planning! How will realty properties be inherited and how to minimize exorbitant estate taxes? Look at the conundrum of Ruffa and Cherie awkwardly sharing part ownership of the family mansion.

One good aspect of Ruffa’s Working Girls role is that she gets to inherit a near-bankrupt firm from her husband. Instead of just selling it cheap, Ruffa decides to manage it with the help of professionals like an auditor. She studies the firm and why it’s losing money. Very interesting how she eventually decides to save the firm by firing many overpaid and seemingly useless executives or employees, plus cutting unnecessary costs and also confronting Cherie Gil on why she has been charging her personal and household expenses to the firm.

Attention : Entrepreneurs, Managers, Politicians And The Next Philippine President

Study dispassionately and analyze what you are managing, stop unnecessary costs and do not mess up the company or government or public money with one’s personal expenses! Though the Philippine economy has grown steadily in recent years, our budget deficit has grown uncontrollably to historic record levels. We need fiscal discipline!

One aspect of the problem (which I would have advised Ruffa’s character to do) is find ways to increase the sales and revenues of the company, revenues that will ultimately boost profits, because cost-cutting alone is not enough to make any company or country rich.

Whether in our national primetime TV news, political debates or mainstream Tagalog movies like Working Girls, it is good to bring out and discuss the important economic and financial challenges that confront all of us.

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Thanks for your letters, all will be answered. Comments welcome at willsoonflourish@gmail.com or my Facebook account.