Monday, April 05, 2010

Five Billionaires Who Live Below Their Means

by Katie Adams
Thursday, April 1, 2010

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At least once in your life - maybe even once a week or once a day for that matter - you have fantasized about coming into a lot of money. What would you do if you were worth millions or even billions? Believe it or not there are millionaires and billionaires among us who masquerade as relatively normal, run-of-the-mill people. Take a peek at some of the most frugal wealthy people in the world.

Warren Buffett
Millions of people read Buffett's books and follow his firm, Berkshire Hathaway's, every move. But the real secret to Buffett's personal fortune may be his penchant for frugality. Buffett, who is worth an estimated $47 billion, eschews opulent homes and luxury items. He and his wife still live in their modest home in Omaha, Nebraska which they purchased for just $31,500 more than 50 years ago.

Although he's dined in the best restaurants around the globe, given the choice he would opt for a good burger and fries accompanied by a cold cherry Coke. When asked why he doesn't own a yacht he responded "Most toys are just a pain in the neck." (Find out how he went from selling soft drinks to buying up companies and making billions of dollars.

Carlos Slim
While most of the world is very familiar with Bill Gates, the name Carlos Slim rarely rings a bell. But it's a name worth knowing. Slim, who is a native of Mexico, was just named the world's richest billionaire – that's right, richer than the uber-famous Microsoft founder. Slim is worth more than $53 billion and while he could afford the world's most extravagant luxuries he rarely indulges. He, like Buffett, doesn't own a yacht or plane and he has lived in the same home for over 40 years.

Ingvar Kamprad
The founder of the Swedish furniture phenomenon Ikea struck success with affordable, assemble-it-yourself furniture. For Kamprad, figuring out how to save money isn't just for his customers, it's a high personal value. He's been quoted as saying "Ikea people do not drive flashy cars or stay at luxury hotels." That goes for the founder as well. He flies coach for business and when he needs to get around town locally he either takes the bus or will head out in his 15-year-old Volvo 240 GL.

Chuck Feeney
Growing up in the wake of The Depression as an Irish-American probably has something to do with Feeney's frugality. With a personal motto of "I set out to work hard, not get rich," the co-founder of Duty Free Shoppers has quietly become a billionaire but even more secretively given almost all of it away through his foundation, Atlantic Philanthropies. In addition to giving more than $600 million to his alma mater Cornell University, he has given billions to schools, research departments and hospitals.

Loath to spend if he doesn't have to, Feeney beats both Buffett and Kamprad in the donation category, giving out less grants than only Ford and the Bill and Melinda Gates Foundations. A frequent user of public transportation, Mr. Feeney flies economy class, buys clothes from retail stores, and does not wast money on an extensive shoes closet, stating "you can only wear one pair of shoes at a time". He raised his children in the same way; making them work the same normal summer jobs as most teens.

Frederik Meijer
If you live in the Midwest chances are good that you shop at Meijer's chain of grocery stores. Meijer is worth more than $5 billion and nearly half of that was amassed when everyone else was watching their net worth drop in 2009. Like Buffett he buys reasonably-priced cars and drives them until they die, and like Kamprad he chooses affordable motels when on travel for work. Also, like Chuck Feeney, rather than carelessly spending his wealth Mr. Meijer is focused on the good that it can provide to the community.

The Bottom Line
The dirty little secret of some of the world's wealthiest people is that they rarely act like it. Instead of over-the-top spending, they're busy figuring out how to save and invest to have that much more in the future. It's a habit you might want to consider in order to build up your own little storehouse of cash.

http://finance.yahoo.com/retirement/article/109243/five-billionaires-who-live-below-their-means?mod=retire-planning

Tuesday, November 17, 2009

Not The Way You Planned

Once there were three trees on a hill in the woods. They were discussing their hopes and dreams when the first tree said, 'Someday I hope to be a great treasure chest. I could be filled with gold, silver and precious gems. I could be decorated with an intricate carving and everyone would see the beauty.'


 Then the second tree said, 'Someday I will be a mighty ship. I will take Kings and Queens across the waters and sail to the corners of the world. People will feel safe in me because of the strength of my Hull ...'

Finally the third tree said, 'I want to grow to be the tallest and straightest Tree in the forest. People will see me on top of the hill, look up to my branches, and think of the heavens and God and how close to them I am reaching. I will be the greatest tree of all time and people will always remember me.'

After a few years of praying that their dreams would come true, a group of woodsmen came upon the trees.

When one came to the first tree he said, 'This looks like a strong tree, I think I should be able to sell the wood to a carpenter, and he began cutting it down. The tree was happy, because he knew the carpenter would make him into a treasure chest.

At the second tree the woodsman said, 'This looks like a strong tree. I will be able to sell it to the shipyard.' The second tree was happy because he knew he was on his way to becoming a mighty ship.

When the woodsmen came upon the third tree, the tree was frightened because he knew that if they cut him down his dreams would not come true. One of the men said, 'I don't need anything special from my tree, I'll take this one,' and he cut it down.

When the first tree arrived at the carpenters, he was made into a feed box for animals. He was then placed in a barn and filled with hay. This was not at all what he had prayed for.

The second tree was cut and made into a small fishing boat. His dreams of being a mighty ship and carrying Kings had come to an end..

The third tree was cut into large pieces, and left alone in the dark.

The years went by, and the trees forgot about their dreams.

Then one day, a man and woman came to the barn. She gave birth and they placed the baby in the hay in the feed box that was made from the first tree. The man wished that he could have made a crib for the baby, but this manger would have to do. The tree could feel the importance of this event and knew that it had held the greatest treasure of all time.

Years later, a group of men got in the fishing boat made from the second tree. One of them was tired and went to sleep. While they were out on the water, a great storm arose and the tree didn't think it was strong enough to keep the men safe. The men woke the sleeping man, and he stood and said 'Peace' and the storm stopped. At this time, the tree knew that it had carried the King of Kings in its boat.

Finally, someone came and got the third tree. It was carried through the streets as the people mocked the man who was carrying it. When they came to a stop, the man was nailed to the tree and raised in the air to die at the top of a hill. When Sunday came, the tree came to realize that it was strong enough to stand at the top of the hill and be as close to God as was possible, because Jesus had been crucified on it.

The moral of this story is that when things don't seem to be going your way, always know that God has a plan for you. If you place your trust in Him, God will give you great gifts.

Each of the trees got what they wanted, just not in the way they had imagined.

We don't always know what God's plans are for us. We just know that His Ways are not our ways, but His ways are always best.

May your day be blessed. And until we meet again, may God cradle you in the palm of His hand.
 
Photo  credit: https://www.student.gsu.edu/~rhallman1/christianity.html

Friday, June 27, 2008

Thursday, June 26, 2008

Inferiority Complex: A Filipino Malady?

by Barth Suretsky
____________ _________ _________ __
The unedited article below was written below by an American friend, Barth Suretsky. This will still be edited but you will get the gist. I find his observations interesting. I hope this will make an impact on the Filipinos who read this article as I greatly lament the worsening situation of our country. - Frank Woolf, Vice President for Development, I-Quest Corporation
6th Floor, World Center, 330 Sen Gil Puyat Avenue, Makati City 1200, Philippines
Creators of WorldRoom, Tel: (632) 867 8460Fax: (632) 867 8077
____________ _________ _________ __


My decision to move to Manila was not a precipitous one. I used to work in New York as an outside agent for PAL, and have been coming to the Philippines since August, 1982. I was so impressedwith the country, and with the interesting people I met, some of which have become very close friends to this day, that I asked for and was granted a year's sabbatical from my teaching job in order to live in the Philippines. I arrived here on August 21, 1983, several hours after Ninoy Aquino was shot, andremained here until June of 1984. During that year I visited many parts of the country, from as far north as Laoag to as far south as Zamboanga, and including Palawan. I became deeply immersed in the history and culture of the archipelago, and an avid collector of tribal antiquities from both northern Luzon, and Mindanao.

In subsequent years I visited the Philippines in 1985, 1987, and 1991, before deciding to move here permanently in 1998. I love this country, but not uncritically, and that is the purpose of this article.

First, however, I will say that I would not consider living anywhere else in Asia, no matter how attractive certain aspects of other neighboring countries may be. To begin with, and this is most important, with all its faults, the Philippines is still a democracy, more so than any other nation in Southeast Asia. Despite gross corruption, the legal system generally works, and if ever confronted with having to employ it, I would feel much more safe trusting the courts here than in any other place in the surrounding area. The press here is unquestionably the most unfettered and freewheeling in Asia, and I do not believe that is hyperbole in any way! And if any one thing can be used as a yardstick to measure the extent of thedemocratic process in any given country in the world, it is the extent to which the press is free.

But the Philippines is a flawed democracy nevertheless, and the flaws are deeply rooted in the Philippine psyche. I will elaborate. The basic problem seems to me, after many years of observation, to be a national inferiority complex, a disturbing lack of pride in being Filipino.

Toward the end of April I spent eight days in Vietnam, visiting Hanoi, Hue, and Ho Chi Minh City. I am certainly no expert on Vietnam, but what I saw could not be denied: I saw a country ravaged as no other country has been in this century by thirty years of continuous and incredibly barbaric warfare. When the Vietnam War ended in April, 1975, the country was totally devastated. Yet in the past twenty-five years the nation has healed and rebuilt itself almost miraculously! The countryside has been replanted and reforested. Hanoi and HCMC have been beautifully restored. The opera house in Hanoi is a splended restoration of the original, modeled after the Opera in Paris, and the gorgeous Second Empire theater, on the main square of HCMC is as it was when built by the French a century ago. The streets are tree-lined, clean, and conducive for strolling. Cafes in the French style proliferate on the wide boulevards of HCMC. I am not praising the government of Vietnam, which still has a long way to travel on the road to democracy, but I do praise, and praise unstintingly, the pride of the Vietnamese people. It is due to this pride in being Vietnamese that has enabled its citizenry to undertake the miracle of restoration that I have described above.

When I returned to Manila I became so depressed that I was actually physically ill for days thereafter. Why? Well, let's go back to a period when the Philippines resembled the Vietnam of 1975. It was 1945, the end of World War II, and Manila, as well as many other cities, lay in ruins. (As a matter of fact, it may not be generally known, but Manila was the second most destroyed city in the entire war; only Warsaw was more demolished!)

But to compare Manila in 1970, twenty-five years after the end of the war, with HCMC, twenty-five years after the end of its war, is a sad exercise indeed. Far from restoring the city to its former glory, by 1970 Manila was well on its way to being the most tawdry city in Southeast Asia. And since that time the situation has deteriorated alarmingly. We have a city full of street people, beggars, and squatters. We have a city that floods sections whenever there is a rainstorm, and that loses electricity with every clap of thunder. We have a city full of potholes, and on these unrepaired roads we have a traffic situation second to none in the world for sheer unmanageability. We have rude drivers, taxis that routinely refuse to take passengers because of "many trappic!" The roads are also cursed with pollution-spewing buses in disreputable states of repair, and that ultimate anachronism, the jeepney!

We have an educational system that allows children to attend schools without desks or books to accommodate them. Teachers, even college professors, are paid salaries so disgracefully low that it's a wonder that anyone would want to go into the teaching profession in the first place. We have a war in Mindanao that nobody seems to have a clue how to settle. The only policy to deal with the war seems to be to react to what happens daily, with no long range plan whatever. I could go on and on, but it is an endeavor so filled with futility that it hurts me to go on. It hurts me because, in spite of everything, I love the Philippines.

Maybe it will sound simplistic, but to go back to what I said above, it is my unshakable belief that the fundamental thing wrong with this country is a lack of pride in being Filipino. A friend once remarked to me, laconically: "All Filipinos want to be something else. The poor ones want to be American, and the rich ones all want to be Spaniards. Nobody wants to be Filipino." That statement would appear to be a rather simplistic one, and perhaps it is. However, I know one Filipino who refuses to enter a theater until the national anthem has stopped being played because he doesn't want to honor his own country, and I know another one who thinks that history stopped dead in 1898 when the Spaniards departed! While it is certainly true that these represent extreme examples of national denial, the truth is not a pretty picture. Filipinos tend to worship, almost slavishly, everything foreign. If it comes from Italy or France it has to be better than anything made here. If the idea is American or German it has to be superior to anything that Filipinos can think up for themselves. Foreigners are looked up to and idolized. Foreigners can go anywhere without question.

In my own personal experience I remember attending recently an affair at a major museum here. I had forgotten to bring my invitation. But while Filipinos entering the museum were checked for invitations, I was simply waived through. This sort of thing happens so often here that it just accepted routine. All of these things, the illogical respect given to foreigners simply because they are not Filipinos, the distrust and even disrespect shown to any homegrown merchandise, the neglect of anything Philippine, the rudeness of taxi drivers, the ill-manners shown by many Filipinos are all symptomatic of a lack of self-love, of respect for and love of the country in which they were born, and worst of all, a static mind-set in regard to finding ways to improve the situation.

Most Filipinos, when confronted with evidence of governmental corruption, political chicanery, or gross exploitation on the part of the business community, simply shrug their shoulders, mutter "bahala na," and let it go at that. It is an oversimplification to say this, but it is not without a grain of truth to say that Filipinos feel downtrodden because they allow themselves to feel downtrodden. No pride.

One of the most egregious examples of this lack of pride, this uncaring attitude to their own past or past culture, is the wretched state of surviving architectural landmarks in Manila and elsewhere. During the American period many beautiful and imposing buildings were built, in what we now call the "art deco" style (although, incidentally, that was not a contemporary term; it was coined only in the 1960s). These were beautiful edifices, mostly erected during, or just before, the Commonwealth period. Three, which are still standing, are the Jai Alai Building, the Metropolitan Theater, and the Rizal Stadium. Fortunately, due to the truly noble efforts of my friend John Silva, the Jai Alai Building will now be saved. But unless something is done to the most beautiful and original of these three masterpieces of pre-war Philippine architecture, the Metropolitan Theater, it will disintegrate. The Rizal Stadium is in equally wretched shape. When the wreckers' ball destroyed Frank Lloyd Wright's Imperial Hotel in Tokyo, and New York City's most magnificent building, Pennsylvania Station, both in 1963, Ada Louise Huxtable, then the architectural critic of The New York Times, wrote: "A disposable culture loses the right to call itself a civilization at all!" How right she was! (Fortunately, the destruction of Pennsylvania Station proved to be the sacrificial catalyst that resulted in the creation of New York's Landmark Commission. Would that such a commission be created for Manila...)

Are there historical reasons for this lack of national pride? We can say that until the arrival of the Spaniards there was no sense of a unified archipelago constituted as one country. True. We can also say that the high cultures of other nations in the region seemed, unfortunately, to have bypassed the Philippines; there are no Angkors, no Ayuttayas, no Borobudurs.True. Centuries of contact with the "high cultures" of the Khmers and the Chinese had, except for the proliferation of Song dynasty pottery found throughout the archipelago, no noticeable effect. True. But all that aside, what was here?

To begin with, the ancient rice terraces, now threatened with disintegration, incidentally, was an incrediblefeat of engineering for so-called "primitive" people. As a matter of fact, when I first saw them in 1984, I was almost as awe-stricken as I was when I first laid eyes on the astonishing Inca city of Machu Picchu, high in the Peruvian Andes. The degree of artistry exhibited by the various tribes of the Cordillera of Luzon is testimony to a remarkable culture, second to none in the Southeast Asian region. As for Mindanao, at the other end of the archipelago, an equally high degree of artistry has been manifest for centuries in woodcarving, weaving and metalwork.

However, the most shocking aspect of this lack of national pride, even identity, endemic in the average Filipino, is the appalling ignorance of the history of the archipelago since unified by Spain and named Filipinas. The remarkable stories concerning the Galleon de Manila, the courageous repulsion of Dutch and British invaders from the 16th through the 18th centuries, even the origins of the independence movement of the late 19th century, are hardly known by the average Filipino in any meaningful way. And thanks to fifty years of American brainwashing, it is few and far between the number of Filipinos who really know - or even care - about the duplicity employed by the Americans andSpaniards to sell out and make meaningless the very independent state that Aguinaldo declared on June 12, 1898. A people without a sense of history is a people doomed to be unaware of their own identity. It is sad to say, but true, that the vast majority of Filipinos fall into this lamentable category. Without a sense of who you are how can you possibly take any pride in who you are?

These are not oversimplifications . On the contrary, these are the root problems of the Philippine inferiority complex referred to above. Until the Filipino takes pride in being Filipino these ills of the soul will never be cured. If what I have written here can help, even in the smallest way, to make the Filipino aware of just who he is, who he was, and who he can be, I will be one happy expat indeed!

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My friend, a VSO volunteer in Mongolia forwarded the above message with this note:

some of you might have heard me in the past say thatthere's a big possibility that in 10 or so years time, mongolia will overtakephilippines in terms of economic growth and development. ..baka nga in 5 yearslang eh. you know they have this overwhelming sense of pride for beingmongolians, sometimes to a fault, that filipinos don't have. so where have oursgone? anyway, please read the article below. i think it's interesting. you may notagree to all the points made here by the author but if it makes us startthinking about them, then i think it's a good one. - margie
this article is from this site: http://stuartxchange.org/InferiorityComplex.html. check it out for comments/reactions to this article.

How I Survived Kidnapping from UP & Six Economic Theories

By Robina Gokongwei-Pe, UP School of Economics
Sunday, May 25, 2008

(This is the speech of Robina Gokongwei-Pe posted at the UP School of Economics website. Robina was the guest of honor during their Recognition Day last April 25.)

Thank you very much, Prof. Dante Canlas, for your wonderful, wonderful introduction. Dean

Emmanuel de Dios — Dean de Dios was my professor of international trade way back in 1981, and it is not only because he gave me a grade of 1.5 that I agreed to be your guest speaker for today. It is hard for me to remember all my teachers in college, but Dean de Dios was someone I remembered very well, because I couldn’t imagine how one so young could be so brilliant. He was personally chosen by UP President Emerlinda Roman to be one of the speakers at the UP Centennial Lecture Series. He will speak on “Secular Morality and the University” on May 7 (plugging, plugging).

By the way, President Roman says that noted filmmaker Behn Cervantes keeps reminding everyone that it’s pronounced “centennial” with a short “e,” and not “centeeeennial.” Former

Dean Raul Fabella — it’s unfortunate that I missed Dean Fabella in college. I think he was in the US when I was a student. College Secretary Oggie Arcenas — Di ko rin inabutan si Prof. Arcenas, but then he must’ve been still in high school when I was at UPSE. When I saw him, I came to the conclusion that UPSE college secretaries are all boyish-looking because the college secretary during my time, Prof. Cayetano Paderanga, who incidentally taught me Econ 101, had the same features. (During my time, there were two cutie pies — Professsors Vito Inoferio and Cayetano Panderanga.)

Professor Dante Canlas, who taught me Econ 181. He was the only professor man enough to give me a grade of “1” even if I didn’t take his midterm exams. I will tell you about that later.

Professor Solita Monsod — the irrepressible Winnie Monsod with her sexy legs, miniskirt, booming voice, cigarette and iced tea in tow. Prof. Monsod taught us Econ 11 and Econ 101, and she explained everything so clearly it made economics less scary than I thought it would be. One morning during a class in the auditorium, she said, “Hey, who’s been spreading the news that this glass I’m carrying every day to class contains scotch? Of course I don’t bring scotch to class. It’s iced tea!”

Professor Manny Esguerra — Sayang, di ko naging teacher si Prof. Esguerra.

Professor Benjie Sandoval of the College of Business Administration — Benjie is executive director and my barkada at the UP Centennial Commission.

Tita Eden Bautista, former administrative officer at SE 101, who gave me my honorable dismissal in 1981 when I unexpectedly left UP in my senior year. If I need someone to remember where I placed all my things, it has to be Tita Eden. In fact, she is right now holding my handbag for me.

Joaquin Teotico, president of the UPSE Alumni Association; academic personnel, administration personnel, parents and graduates: Good afternoon.

I’m very happy to be back in the university that I never graduated from but wish I had. I am simply one lucky bitch to be speaking on your recognition day. Thank you to the UPSE Student Council, led by Sarah Adan and Jances Parado, for inviting me. In their letter, Sarah and Jances asked me to share my experiences and insights into being an instrument of meaningful change in society. And if could please bring in the concept of economics as an instrument of change and progress.

I gave Dean de Dios a call and said, “Dean, it’s a wonderful topic but I don’t know what I’m supposed to say,” and he told me, “Let’s have lunch with the students and talk about it.”

And so I did, and I met Sarah, Jances, and other student reps Mario Garcia, Nica Maloles and Jelain Reyes, plus Dean Fabella, Professors Arcenas, Monsod and Jack Teotico. I asked the students what they would really, really be interested in. They asked “Can you talk about what’s in store for us after economics?” The faculty said, “How about entrepreneurship?” or “How about matching economic theories with reality?”

And so I decided to put everything together, as chop suey as it may sound. Let me start with economic theories or concepts or terminology, whatever is the right way of calling them.

The first theory is the ubiquitous law of supply and demand. The reason I failed to graduate from UP was that I was kidnapped on the way to school in September 1981, and guess what, right on the day I was supposed to take Prof. Canlas’ exams.

Contrary to the 2000 movie Ping Lacson, Supercop, I was not jogging on the grounds of UP wearing a midriff when I got kidnapped. In the first place I didn’t have the body then to wear that outfit and never will. By the way, the actress who played me in the movie was Angel Locsin, and I hope you didn’t invite me to make this speech because you thought I looked like her. (Of course, deep inside, I wish I did.)

By the way, yes, it was then Lt. Col. and now Senator Ping Lacson who rescued me after seven days in captivity. He literally kicked and broke down the door, just like you see in the movies.

At that time, 1981, the kidnappers demanded P7 million in ransom money. Nowadays, any Tom, Dick and Harry would kidnap you for as low as P300,000. And that’s the law of supply and demand. The price has gone down to P300,000 because there are so many unorganized criminal gangs who are willing to take anything, and the victims are more willing to give since it’s not worth your life trying to haggle if it’s only P300,000.

You must be wondering whether the kidnappers were caught. Which brings me to the second theory: the theory of competitive advantage.

The mastermind was the son of a judge from Cebu. The judge from the lower court found him guilty, but when the case came up to the Supreme Court, the justices acquitted him. It’s only in the Philippines where you see the mastermind of a kidnapping gang get acquitted, and I wonder whether it has to do with his being the son of another judge. That is what you call competitive advantage.

The third theory is cost-benefit analysis. In 1989, we acquired the venerable national daily Manila Times from the Roces family. Sometime in 1998, my editors, who incidentally came from UP, wrote a headline that annoyed then President Joseph Estrada.

The story was about how the government was unwittingly led to sign an anomalous contract with IMPSA, a foreign group. Take note, this was in 1998, so if you’re thinking that this is ZTE, this is not ZTE.

Anyway, I didn’t even know what the story was all about, as my policy was to leave the editors to do their job while I handled the business side. I ended up getting sued by the president of the country, and for several nights, I thought hard about the future of the paper. As an economist would say, “Do a cost-benefit analysis.” The benefit was that it was a well-respected paper with a well-respected staff. However, the cost was that I was sure to die early, thinking about getting sued day in and day out. I didn’t want the staff to deal with a boss suffering from a nervous breakdown, and I didn’t want the readers to think that we were now forced to change the newspaper’s ideals to avoid any more lawsuits, so with a heavy heart, we sold the paper.

Running a well-respected paper was part of my efforts at being an instrument of meaningful change in society. So much for the effort. I figured, hay naku, magtitindera na lang ako.

Anyway, five years after, the government ended up suing that same foreign group, IMPSA, for leading them to sign that anomalous contract. By that time, I was already leading a less-turbulent life managing our retail group, and I left my sister Lisa to continue with publishing. She was smarter than me. She put up the highly successful Summit Publishing, which includes some staples such as Cosmopolitan and FHM. This is where I can say that when it comes to sex, the demand is always greater than the supply.

The fourth concept is about monopolies and oligopolies. A UP alumnus recently branded our family as oligarchs in the airline industry. In my economics textbook, an oligopoly happens when only a few players dominate the industry and set the price of goods unreasonably high. I do not know how we can be oligarchs if we give opportunities for people to travel more often by providing one-peso fares. Setting the price of goods with one-peso fares? Maybe he wants us to lower it to 50 centavos.

Let me go on to the fifth and sixth concepts, which I believe are the most important because they have to do with what you are going to do after graduation. Specifically, what you think you can do after obtaining an economics degree. In truth, you can do anything you want.

In fact, I asked the student reps over lunch why they majored in economics, and they said it was because they had the impression that you can do anything with an economics degree, and I told them they were right.

In fact, I wonder who among you were like me and decided to major in economics because you wanted something close to business but not take up business administration, and you thought that economics and BA were almost the same. It turns out that they’re related in some ways, but in most ways they’re totally different, and it’s a good thing I didn’t major in BA: I barely passed accounting.

My dad didn’t force me to take up BA after I graduated in high school in 1978 because he said that I would learn business anyway when I entered business, so I should go learn something else. If I had the choice, I would’ve gone into anthropology or veterinary medicine, but then it was uso among the Chinoys at that time that you either majored in pre-med because you were going to be a doctor, or in business because you were going to work in a bank. It seemed that Chinoys were headed to only two professions at that time.

I was the typical Chinoy who just followed where everyone went.

Anyway, back to my fifth and sixth theories — the theory of opportunity costs and the law of diminishing marginal returns. I know that when you start looking for a job, you will do two things — you will compare what each company is offering you, and you will compare your pay with your batchmates. Taking the first job offer that comes your way implies an opportunity cost of losing the chance of making more money. You wouldn’t want to lose that opportunity to make more money, would you?

Six months into the job, either one of two things can happen, or the two may happen at the same time. Either you will be thinking about whether this is the job you really want and you will keep on meditating about it to the consternation of your boss, or another company will try to poach you by offering better pay and benefits, or both.

Now take note that you belong to Generation Y, which the latest issue of The McKinsey Quarterly describes as people “born after 1980 — whose outlook has been shaped by, among other things, the Internet, information overload, and overzealous parents. HR professionals say these workers demand more flexibility, meaningful jobs, professional freedom, higher rewards, and a better work life-life balance than older employees do.

“People in this group see their professional careers as a series of two- to three-year chapters and will readily switch jobs.”

Emphasis on “readily switch jobs.”

So on to theory No. 6, the law of diminishing marginal returns. Being a member of Gen Y, you may have the habit of moving from one job to another, always grabbing the one that will pay more. You have the right not to miss out on these opportunity costs, but take note that if, by the time you’re 30, you show this three-page résumé listing that you had 12 jobs in eight years, you can be sure that you will experience firsthand the law of diminishing marginal returns. On your 13th job interview, you will be worth what your rate was when you were 22. No employer will dare hire you, because he thinks you will just run off again after six months.

Assuming (which, by the way, is an economist’s favorite word) that you decided to become an entrepreneur instead of seeking employment, then bravo, you made the right decision.

Entrepreneurship is a topic that Dean de Dios wanted me to talk about, but I told him that I wasn’t an entrepreneur. I am only managing one of my father’s businesses and using company money, not my money. But Dean said that, in any case, he knows more people who have spent all their fathers’ wealth and run the business into the ground much faster than it took me to build my father’s business. So, thank you for your kind words, Dean.

I am not an entrepreneur — it is my dad who’s an entrepreneur — but let me say something about it. I think the reason few people go into entrepreneurship especially when they come from top-tier schools like UP is that when they want to open their own taho cart, for example, people around them would tease them and say, “Ano ka ba, galing kang UP, magtataho ka lang!”

My answer to that is “E ano?” At least you have something you can call your very own.

You are not beholden to anyone but yourself, and yet you bring joy to society because you give people a product that they like. After all, big businesses started by being small once. Big business didn’t start out big: there’s no such thing.

Let me give you, though, one tip about running a business, and one more economic theory to go with it.

It’s about the theory of market competition. There’s such a thing as fair competitors, and there’s such a thing as desperate competitors. Both are troublesome, but you know fair competition is part of free enterprise. As for desperate competitors, you worry if this country is retrograding.

You were not born yet when the story of my kakambal na ahas who was half-woman, half-snake came out when we opened our second Robinsons Department Store branch in Cebu in 1985. My kakambal was supposed to be the source of our wealth as she laid golden eggs. She was supposed to be hiding under the floor of the fitting rooms, and every time a beautiful woman would enter, the floor would open and she would land right inside the mouth of my kakambal na ahas.

I have no idea who started this incredible story, but I have to tell you that some people believed it and even started staring at my legs to see if there were any signs of snakeskin. A few people still ask me about it, and I have to tell them na naging handbag na ho sa Robinsons Department Store.

Thank goodness there was no Internet yet at that time, or you would start receiving photos of me with a snake’s body and my kakambal na snake with a woman’s legs.

How do you deal with these dirty tricks? Nothing, just keep quiet and let the story fade away. Or better still, make a joke out of it.

And that is what you are going to face on a regular basis once you step out of school.

Someone will be out to kill your product, out to get your job, out to grab your boyfriend.

And if you’re an unlucky bitch, maybe all at the same time! But in the end, you will come out a stronger person, and better still, end up with a much better boyfriend.

Thank you and congratulations!

Tuesday, February 12, 2008

Get Rid of These Bad Work Habits

By Anthony Balderrama, CareerBuilder.com writer

Who doesn’t have at least one habit that drives everyone else insane? You might bite your nails, slurp your coffee or tap your pen incessantly. Annoying? Yes. Serious problems? Not really.
In the office, however, some habits can go beyond annoying your co-workers; they can damage your career.

For the sake of your career and your co-workers’ sanity, here’s a list of bad work habits that can harm your career and how you can break them. If you’re guilty of one (or more), it’s time to get them under control.

Bad Habit: Missing deadlines.What you think: "If it’s only a little late, it doesn’t mean anything."
What it really says: Your colleagues and boss can’t count on you.
What to do: Don’t view deadlines as negotiable. Remind yourself that people are counting on you to do your job well, which includes completing tasks on time. Even if you just barely missed the deadline and everything turned out OK, you probably caused your teammates a lot of anxiety and extra work, which they won’t forget.

Bad Habit: Dressing unprofessionally.
What you think: "I’m the office free spirit with a quirky sense of style!"
What it really says: You don’t take the job seriously.
What to do: You don’t have to be a boring dresser to be professional, but you shouldn’t look like you’re about to go clubbing or strutting down a runway. Take a cue from your co-workers to see what’s considered acceptable in the office.

Bad Habit: Not being punctual.
What you think: "As long as I get all my work in, nobody cares."
What it really says: You think your time is more important than everybody else’s.
What to do: Stick to the schedule. Everyone in your office would like to sleep in a little or leave early, but they don’t because people rely on them to be on time.

Bad Habit: Checking your e-mail, playing games, shopping.
What you think: "I’m discreet."
What it really says: You’re not doing your job.
What to do: Keep the fun stuff to a minimum. Most employers don’t mind if you check your e-mail every once in awhile or read your favorite blog for a few minutes in the morning. They begin to care when you minimize that game of Scrabulous every time they walk by your desk. You’re being paid to work, not play.

Bad Habit: Gossiping.
What you think: "I’m just saying what I heard."
What it really says: You can’t be trusted.
What to do: Sure, everybody gossips a little here and there, but it shouldn’t be your livelihood. Eventually you’ll gain a reputation for not keeping anything confidential –whether it’s a personal matter or work-related. Plus, your chattering could end up hurting somebody’s feelings or reputation.

Bad Habit: Being negative.
What you think: "Everybody complains."
What it really says: You’re the person to avoid.
What to do: It’s natural to grumble about work once in awhile. If you gripe and moan when you’re asked to do anything, however, people will not only get annoyed, they’ll wonder why you don’t just quit. Keep in mind that work isn’t always fun; keep the complaints to a minimum.

Bad Habit: Trying to be everybody’s best friend.
What you think: "I’m just sociable."
What it really says: You don’t know how to set boundaries.
What to do: It’s not uncommon for friendships to develop at work, but don’t expect it to happen with everybody. Unless you have reason to do otherwise, treat your superiors, colleagues and subordinates like professionals, not like drinking buddies.

Bad Habit: Burning bridges.
What you think: "I’ll never see them again."
What it really says: You’re not a professional who thinks about the future.
What to do: As much as you dream of telling off your boss or co-workers after you’ve handed in your resignation, restrain yourself. People change jobs, companies merge – someone you dissed in the past may end up being your boss down the road.

Bad Habit: Always being the funny one.
What you think: "People love me."
What it really says: You’re really annoying.
What to do: There’s nothing wrong with being funny – most people do like a good sense of humor. Just remember that not everybody wants to hear your sarcastic quips and "Godfather" impersonations every five minutes.

Bad Habit: Forgetting you have neighbors.
What you think: "I’m not as annoying as they are."
What it really says: You’re inconsiderate.
What to do: Do unto your co-workers as you’d want them to do unto you. Your hour-long conference call on speakerphone is just as irksome to your cube mates as theirs are to you.

Anthony Balderrama is a writer and blogger for CareerBuilder.com. He researches and writes about job search strategy, career management, hiring trends and workplace issues.

Saturday, December 29, 2007

Beware of Garbage Trucks

by David J. Pollay

How often do you let other people's nonsense change your mood? Do you let a bad driver, rude waiter, curt boss, or an insensitive employee ruin your day? Unless you're the Terminator, for an instant you're probably set back on your heels. However, the mark of a successful person is how quickly one can get back their focus on what's important.

Sixteen years ago I learned this lesson. I learned it in the back of a New York City taxi cab. Here's what happened.

I hopped in a taxi, and we took off for Grand Central Station. We were driving in the right lane when, all of a sudden, a black car jumped out of a parking space right in front of us. My taxi driver slammed on his breaks, skidded, and missed the other car's back end by just inches!

The driver of the other car, the guy who almost caused a big accident, whipped his head around and he started yelling bad words at us. My taxi driver just smiled and waved at the guy. And I mean, he was friendly.
So, I said, "Why did you just do that? This guy almost ruined your car and sent us to the hospital!"

And this is when my taxi driver told me what I now call, "The Law of the Garbage Truck."

"Many people are like garbage trucks. They run around full of garbage, full of frustration, full of anger, and full of disappointment. As their garbage piles up, they need a place to dump it. And if you let them, they'll dump it on you.

When someone wants to dump on you, don't take it personally. You just smile, wave, wish them well, and move on. You'll be happy you did."

So this was it: The "Law of the Garbage Truck." I started thinking, how often do I let Garbage Trucks run right over me? And how often do I take their garbage and spread it to other people: at work, at home, on the streets? It was that day I said, "I'm not going to do it anymore."

I began to see garbage trucks. Like in the movie "The Sixth Sense," the little boy said, "I see Dead People."

Well, now "I see Garbage Trucks." I see the load they're carrying. I see them coming to drop it off. And like my Taxi Driver, I don't make it a personal thing; I just smile, wave, wish them well, and I move on.

One of my favorite football players of all time, Walter Payton, did this every day on the football field. He would jump up as quickly as he hit the ground after being tackled.

He never dwelled on a hit. Payton was ready to make the next play his best. Good leaders know they have to be ready for their next meeting.

Good parents know that they have to welcome their children home from school with hugs and kisses. Leaders and parents know that they have to be fully present, and at their best for the people they care about.

The bottom line is that successful people do not let Garbage Trucks take over their day.

What about you? What would happen in your life, starting today, if you let more garbage trucks pass you by?

Here's my bet. You'll be happier.

Life's too short to wake up in the morning with regrets, so..
Love the people who treat you right.
Forget about the ones who don't.
Believe that everything happens for a reason.
If you get a chance, TAKE IT!
If it changes your life, LET IT!
Nobody said it would be easy...
They just promised it would be worth it!

Thursday, December 20, 2007

A Letter To The Young Filipino Generation

Will it be hard for you to believe me if I tell you that we have a beautiful country that is worth dying for? Perhaps you might have heard from the older people that our government is a paradigm of extreme injustice, graft and corruption and lacking of integrity. Perhaps, you have also heard that our education system is mediocre; and, worst, in spite of mediocrity, it continues to deteriorate. Furthermore, you might have also heard that we are once the glory of academic institutions in countries such as Germany and France during our Dr. Jose Rizal's time. Yet, now, most of our mothers and grandmothers are slaves in a foreign land, ripped of self-value—all these just so they can earn money and feed you well.

The state of our country is devastating. I will not keep you from knowing that our own countrymen have a distorted understanding and regard for leadership. I have many times wept because I feel that our countrymen no longer understand the value of a leader. With the kind of people vying for seats in our government, I have often wondered if leadership has really been understood as a call to serve and not a race to positions that satisfy whims. Probably, also, this distorted understanding of leadership gives birth to a distorted regard for a leader. For one, I have realized that terrorism is no longer a stranger to us—for we have always had it in different dimensions; simply masked by varying reasons just so rebellion can be justified. We are a people that have always rebelled. And I doubt if we do so because we are courageous; for probably it is because we have lost the patience and perseverance to respond meaningfully to a desperate
circumstance. We blame and withdraw rather than contribute and support. I grieve at how emotional tantrums remain to be an involuntary response to discontent and weariness. Sometimes, we are too lazy to reflect and to contemplate that we give up on thinking. As a result we act in haste. Best of all, we are too arrogant, too preoccupied to even pray and seek divine wisdom. We contest even the infallibility of the Bible as if we know more or that we can offer a more meaningful and inspiring message.

And for all these, I apologize with deep regret and repentance that my generation, and the generations that have come before me, failed you. We could have given you a meaningful past, a hopeful present and a promising future if only we have worked with the right "lenses".
I encourage you to work with the right lens by choosing to see not the death of our country but the new life we can give her. From this, I realize that we move in parallel with the disciples' response when Christ resurrected. Probably the grief over Christ death was enough to paralyze the disciples' hope for something beautiful and redeeming to still happen. All they saw was death; so, they responded in grief and fear—and lack of faith when Christ, finally, resurrected. I think that our countrymen are going through the same circumstance also. We only see the hopelessness of our country; and, thus we no longer move with spirits willing to conquer.

I beg you to no longer follow our footsteps. Wear the lens that clings to faith and let go of the stubborn refusal to believe that resurrection does come. So, you will neither move towards the most comfortable escape nor refuse movement at all. In effect, you will strive for better solutions and work hard to contribute instead of merely cursing the system, looking for and pointing at faces to blame. In effect, you do not leave the country in disillusion that you deserve a better place—for you understand that a better place is not what you see around you; but, rather what you strive to cultivate inside you. Thus, you will understand that hardship is meant to prune your character and teach you to let go of your comfort zones, which disables you from exploring your greatest potential to conquer and lead. Move in faith; do not give up; do not surrender in understanding that you deserve to fight a good fight. No matter the difficulty of your
circumstance, keep the hope by persevering and enduring. When the bleak circumstance of your country weakens you, remember to focus not just on Christ death; but, rather on Christ's resurrection. It is because He did not just die for you—He resurrected for you so that you would believe and hope amidst the grief and loss. Claim this as His faithfulness to you. He gave you this country; this is your territory, so be steadfast vanguards of it.

Second, as you remember the story of Christ's resurrection, recall all those who do not believe the testimonies of those who have seen Him. This same thing may happen to you, also. My generation, and the generations that have come before me, carry stories of those who have dared to effect meaningful changes in our country. It pains me to tell you that these stories began with beautiful dreams for our country; and yet ended in frustration. Why? When a population did not support their cause, these people began doubting not just their ability to succeed but also the meaning of their cause. This is very much unlikely to the disciples who have kept their stand in spite of opposition. I grieve to admit that most of us failed to keep our stands when our foundations are shaken.

I beg you to no longer follow our footsteps. Wear the lens that will humble you to fervently and sincerely pray for God's purpose for your existence. So, when God finally reveals Himself and His plans for you—you will hold on to it dearly even if the swift tide of discouragement and unpopularity struggle to take it away from you. Then, bravely, you will go into the world; speak, live out and die for the greatest cause He has given you. You will go out into the world and reach out to as many countrymen as you could by inspiring the younger ones and encouraging the older ones. You will strive hard to live a good life not for your own good but for the next generations'— because you understand that this country is in need of heroes to emulate. Soon enough, the burden for excellence and meaning will not just be an output; but your way of life..

Third, as you remember the resurrection of Christ, realize that even after He went up to heaven, He has not forsaken His disciples. As His disciple carried out their tasks, Christ went with them by working with them and fulfilling His promises to them. What makes it easy to discontinue our battles in life is not the realization that we are weak; but, the realization that we are fighting alone. So, we shudder and cringe, bearing the dark just because we are too scared to stand in the light, only to realize that we are standing alone.

They say that if you want to see the future of a country, you should listen to the heart of its youth; for the song that echoes in there shall be the law that will soon rule the land. To my dear young Filipinos, each of you is destined to win. Dare to not give up: keep the faith, live your mission. Claim victory and raise this country to a new life that it deserves.

It is my fervent prayer that your generation would no longer carry our regrets and failures. Death prevails when one stubbornly refuses to hope and witness resurrection. Do not just curse the darkness; dare to light a fire.
Anna Casiding