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Monday, October 13, 2008 |
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EDITORIAL
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Taking matters to heart
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THE continued fragility of financial markets world wide points to
disturbing undercurrents that risk engulfing the global economy in
another Great Depression. Few are alive to recall the ravages of
that period, but we only need to be reminded that it triggered the
Second World War.
Last week, Wall Street came under selling
pressure again, causing panic in markets from Asia to Europe, with
the Japanese bourse ending the week down by its worst on record. In
the Philippines, the local equities market shed another P500-billion
worth of value, putting to waste the valiant efforts of domestic
listed firms to prop up their stock prices through share buybacks.
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O T H E R C O L U M N S A
N D F E A T U R E S
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BIG
DEAL
By Dan Mariano
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Wary of GSIS
‘disclosure’
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Winston Garcia, president and general manager of the Government
Service Insurance System (GSIS), seems to have finally bowed to
public pressure for him to disclose details of the state pension
fund’s $1-billion Global Investment Program (GIP). The operative
word here is “seems.”
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OPEN
NOTEBOOK
By Random Jottings
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What next in GSIS-Meralco
legal tangle?
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WHEN the Supreme Court resolved to sanction certain Court of Appeals
(CA) Justices involved in the Manila Electric Company (Meralco)-Government
Services Insurance System (GSIS) row, it was careful not to discuss
the merits of the CA...
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ENTHUSIASMS
&FOREBODINGS
By Rene Q. Bas
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First among peers
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The United States, in case you haven’t noticed, has been sharing
power with others in our changed multipolar world.
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INSIDE
CONGRESS
By Efren L. Danao
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Lakas, Kampi goners
without standard-bearer in 2010
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Lakas and Kampi, the two strongest political parties today, will go
the way of the Kilusang Bagong Lipunan (KBL) and the Laban ng
Demokratikong Pilipino unless they field a strong presidential
candidate in 2010.
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BIZZ FIZZ
By Rene Martel
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Mandarin Oriental and San Miguel
roll out the barrel
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IF it’s October then you can be sure many corporate minds are
concentrated (and it will make a welcome change from subprime
worries and market meltdowns!) on Oktoberfest—that rambunc-tious
annual extravaganza of beer...
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DOUBLE
TAKE
By Eric F. Mallonga
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Juvenile politicians
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NOT once has the budget allocation for the enforcement of the
Juvenile Justice and Welfare Act of 2006 been set aside for the
intervention, diversion and crime prevention programs that are
intended to restore minors in the positive...
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LETTER
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Bas column on
US bailout plan
Rene Bas’ article was probably the best piece
I have read on the bailout plan. I am from America’s Midwest.
Unlike most Americans—and apparently most
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