Seoul-Incheon Direct to Kalibo

[Mike Veitch]

the businesses put up here that are not 100% filipino owned always have the money expatriated out of the country. so except for the taxes due to the gov't (which may or may not go entirely to the benefit of the entire Filipino people- but that's another story), nothing much is spent in the country...

actually, the same thing happens everywhere....

you should try Vancouver...
ask what the other name for Vancouver is...

 

[jonix]

I love the Philippines but it amazes me how the government (or old landowners) shoot themselves in the foot with this protectionist, "the Philippines if for Filipinos" mentality. Unfortunately the present setup does give the country to Filipinos....but only a select few monetarily. If you're not born into land or money there, it's very hard to gain any ground.

so true. a lot BS if you ask me. how can you compete globally with such kind of idiotic mentality.

@mags: cash management is just one part of the equation

 

[rhadamantus]

pak, u misunderstood my point.

i am not against them doing that because the business' main objective is to protect its interest.

it isn't the issue here. as i am telling hank in pm inflows of investments from foreign forces wouldnt cross this country off the 3rd world list because our government's priorities are screwed.

Oh Mags, give me a ****ing break. So if a MNC plows money into your country in terms of investments, creating jobs, paying taxes, they don't have a right to repatriate most of their profits?... But I guess you've analyzed enough companies at the ripe age of 26... pfff

And try talking to the retirees in the PI, whether they be Americans, Japanese or Koreans who have moved their money INTO the philippines.

And don't get me started on rich filipinos taking their money out of the country.

 

[rhadamantus]

and i think the main argument here is that if the growing number of foreign-owned resorts in destination spots are benefiting the Philippine residents as whole. that was the issue. and i believe that there's really not much difference... the taxes (if paid) do not really go to the people. the people who were hired, they were paid in minimal. and whatever cash is left, its taken out of the country.

as i said, i wouldn't blame them. why would u put your eggs in a basket that looks like its about to break?

you guys are taking my words out of context.

 

[clgsamson]

i dont think it is a fallacy. ive seen enough financial statements and did enough financial planning for multinationals to know what their priority is when it comes to cash management.

nothing wrong with it. business comes first, of course.

hehehe she sez she has seen enough of financial statements hehehehe I hope some of them are Financial Reporting Standards (FRS) compliant...

 

[clgsamson]

pak, u misunderstood my point.

it isn't the issue here. inflows of investments from foreign forces wouldnt cross this country off the 3rd world list because our government's priorities are screwed.

We call it "Hot money" in the bourse...and lets not talk about banks here.

 

[rhadamantus]

i wouldn't want to talk about banks, either.

there was a good reason i turn a number of job offers with them

the money is too attractive :laughing:

 

[pakman]

Yes we bankers are such philanthropists... Mother Theresa's the lot of us...

Back to the original topic... Many moons ago, when the Korean invasion was just a trickle, I remember coming upon a little Korean run inn/restaurant on Boracay. Had a nice chat with the Korean owner. She and her husband (I'm guessing they were in their late 40's) had literally packed up, sold the house, etc and moved out to Boracay with all their savings to start a new life. They were just tired of the Korean rat race... wonder if they're still there in Boracay.

And speaking of retirees, I still chuckle about the odd reports here and there about some old Japanese retiree, who falls in love with a Filipino hostess who worked in Japan, follows her back to the PI, and is robbed pennily (yenless?) by his love... or murdered... I understand the Japanese Embassy has a dept to handle these down and out retirees...

 

[rhadamantus]

And speaking of retirees, I still chuckle about the odd reports here and there about some old Japanese retiree, who falls in love with a Filipino hostess who worked in Japan, follows her back to the PI, and is robbed pennily (yenless?) by his love... or murdered... I understand the Japanese Embassy has a dept to handle these down and out retirees...

i heard a way worse news than that... some old european fell in love with a filipina thru chatting (?) left europe, built her an internet cafe in the province, they lived together for about a year (can't verify the timeline), she found some other prospect through chatting in the internet cafe that old bloke built for her and so she had the poor man beaten and kicked out of their rented house and claimed the cafe as her own (well, legally, it was registered under her name).

i believe in karma; she'll get what she deserves one of these days. it was horrible, what she did.

but it takes two to tango, really. one should not get out of touch with reality----

at 40 or 50 or 60, one ought to know if it is indeed love or something else. pffftt....!

 

[pakman]

Next time you're in PG, ask the locals about what happened between the foreign owner of Blue Moon and his pinay gf... That's that closed down restaurant/bar in front of Tech Asia/ next to Sha Che...