Del Monte files for bankruptcy

Every generation needs a revolution - an entrepreneurial revolution

If my info is right, this is owned by Del Monte PHL whose boss is a scion of a pharma company.  The vice chair is a former classmate in college who is also the head of BGC.  We are lucky we dont own that big company to lose that big.  Although the Chapter 11 proceedings does not necessarily mean it is bad for that company (since this gives a lot of breathing room for the company to survive and save its cash flow.  We are lucky we are not in that situation, and not have lost that much

 We wish Del Monte well and may its managers and leadership survive this difficult situation.

But this post is aware that it is a bit of challenge to do business in USA.  Way back then, we engaged to have a business plan for food processing plant in CA to be purchased by frozen meat product company based in Region 3.  The study, for which we were not paid (Ugghhh) showed that costs especially labor would be untenable.

The conclusion that Halal foods to be exported to ME would be a better alternative

Secret of South Korean Economic Miracle

Every generation needs a revolution - an entrepreneurial revolution

Having suffered from NK and China invasion South Korean was poor.  Until 1960 it was still so poor.  However after several decades  South Korean is one of the most prosperous country in Asia, having reached  1 $ trillion GDP, and with standards of living nearly equalling that of Western countries.

What were their secrets to success.  There were 3:

1.   Chaebols employed to industrialize export and grow;

2.   Education

3.   Strong work ethic  (due to the Chaebol) and country's drive to excel

Now its no longer working because competition in education and work place is so intense, many Koreans are unhappy and suicide rate is one of the highest.

 

Philippines poised to be the 24th biggest economy by 2030

Every generation needs a revolution - an entrepreneurial revolution

It is going to be up by 10 slots from current 34th?

THE Philippines is projected to become the 24th most powerful economy in the world in 2030 and further move up to 19th by 2050, overtaking Malaysia and Vietnam. Professional services firm PricewaterhouseCoopers (PWC) ranked 32 countries according to their projected gross domestic product (GDP) by purchasing power parity.

Wow, it is something to be proud of.   Other countries in Europe must envy where projected GDP growth is in the low 2s or 3s.  By why do graduates continue to be OFW.   Perhaps the reality bites that we are not at the moment.  

Our people would not want to work hard to get our country out of the rut.  They probably want instant reward by working abroad.  

What does this mean for our country?

How is your firm prepared for this development?   Will your firm be that productive in 6 years time?   Can you afford to pay the high wages then?