Thursday, March 29, 2007

Some Trivia about Elfren Cruz

Elfren Cruz is one of the well-loved Lasallian and professor in DLSU MBA Program. He is considered as one of the best professor for Strategic Management. The article below mentions some information about our professor.

------------------------------------------------------------------------------------------------------------

HIGH GROUND
A very sentimental farewell

By William Esposo
INQ7.net
Last updated 07:34am (Mla time) 12/01/2006


TODAY I bid all those who faithfully followed my column on INQ7.net a very sentimental farewell. Until two Fridays ago, Nov. 24, this departure was not in the stars. I never had any inkling whatsoever that I will be making this move.

But things do happen, with the hand of Divine Guidance, if we have the faith to trust the Divine. The Philippine Star publisher and top columnist Max V. Soliven rejoined our Maker last Nov. 24 and that sudden development triggered the chain of events that led to this decision.

Max and I were both part of the founding of the top two English-language newspapers in the country today: the Philippine Daily Inquirer and The Philippine Star.

Elfren Cruz (who became head of the Presidential Management Staff and governor of Metro Manila during the Cory Aquino administration) and I brokered the partnership between Betty Go-Belmonte and Eugenia Apostol that gave birth to the Inquirer.

Elfren and I were actively involved in fighting the Ferdinand Marcos dictatorship, and in 1985 it was announced that a snap presidential election would be held on Feb. 7, 1986. We deliberated on how we could fight the Marcos media monopoly and awesome propaganda machinery. There was hardly any major newspaper and national broadcasting network that would support the opposition cause.

We realized that if we could put together two people who had never dealt with each other before, we could establish a major newspaper, one that would give the opposition a voice. Those two persons were Betty Go-Belmonte and Eggie Apostol. Betty's family owned presses that could publish over 250,000 broadsheet copies a day; while Eggie had the editorial staff (which included Max Soliven), which was producing the Mr. & Ms Friday Supplement. As fate would have it, Elfren was very close to Eggie and his wife Neni was writing for her; while Betty and I were like brothers and sisters.

Elfren and I first spoke with Eggie. She was receptive to the proposed partnership. I then spoke with Betty about our meeting with Eggie. Betty was one of the biggest supporters of Cory Aquino; in fact, it was through her that I first met Cory, at Cory's Times Street home in 1983, shortly after Ninoy was interred.

As was the standard operating procedure for Betty: She prayed over the proposal and sought guidance from the Lord. Betty always prayed and sought Divine guidance for her moves, and received guidance through her daily Bible readings. Her family has lived by this practice, and they always get their marching orders right. I've written about this in my "Amazing true-to-life success stories" column.

Subsequently, Betty got her guidance from a verse in her daily Bible reading, which she interpreted as her marching orders to enter into the partnership with Eggie. And as they say, the rest is history.

When Betty decided to leave the Inquirer, and Max and Art Borjal joined her, we all got together and formed The Philippine Star, in July 1986. Just as with her entering into the partnership with Eggie, Betty left the Inquirer after a Bible reading that told her to "Go you out from among them."

Strange indeed are the ways of the Lord. The Inquirer and the Star now occupy the top two market positions, fitting achievements for the legacies of EDSA People Power.

I wrote my first column in the Star, called it "As I Wreck This Chair," a reference to my ability to challenge the finest furniture and to the symbolic shaking of the seats of people in positions of power who have failed in the performance of their duties as public servants. But when I was conscripted to join the Cory administration in January 1987, I had to give up my column.

In 2001, Bobi Tiglao, who was not yet then a member of the Gloria Macapagal-Arroyo Cabinet, invited me to write a column in INQ7.net. I felt challenged, because I had been through all the tri-media of radio, television and print, and INQ7.net offered the new media frontier: the Internet. I knew the potential of what they now call the third screen (first screen is cinema, second is television, and fourth is the cellular phone) and I've always been excited by the new experience of interactive media.

Inviting me to write for INQ7.net may have become one of the biggest regrets of Bobi Tiglao when he was already in the Arroyo administration. I had developed into one of the Arroyo administration's most vocal critics, read around the world through the average 1.5 million page views of INQ7.net.

Writing for INQ7.net was one of the greatest experiences of my now 40 years in the media (I started in radio as a disc jockey in 1967). The interactive nature of the medium has allowed me precious insights into the minds and hearts of many Filipinos who have bothered to e-mail me and share their reactions and views.

Were it not for my obligations and commitments to The Philippine Star, of which I am a part owner, and my closeness to Betty's family, I would not have considered leaving INQ7.net.

Starting Tuesday, Dec. 5, my "As I Wreck This Chair" column in the Star will resume after a 25-year pause.

Thus, on this my last High Ground column, thanks to all of you who have supported me all these years. God bless you all and our beloved country.

You may e-mail William M. Esposo at macesposo@yahoo.com

Thursday, March 22, 2007

10 Retirement Planning Mistakes

Forwarded by a friend who is a financial advisor in the Philippines.

From Jenny McKinney & Patrick McKinney

Just because you invest in a retirement plan doesn't mean you will be financially secure when you decide to retire. If you are making these retirement planning mistakes, you could be in for a sad surprise.

1. Not taking full advantage of your company retirement benefits

You should invest as much money into your company retirement plan as you can afford. At the very minimum, you should invest enough to get your company matching funds if they are offered.

2. Withdrawing money from your retirement plan

By withdrawing money from your retirement plan, you lose valuable interest that is extremely difficult to replace. Some plans allow for hardship withdrawals and/or loans but you must be careful when taking advantage of these withdrawals.

3. Not actively monitoring your investments

Monitoring your investments makes sense so that you are aware of any discrepancies. Monitoring also alerts you to how well your investments are performing or not
performing. If you are carefully tracking your investments, you will be better equipped to know when to switch to a different strategy.

4. Relying on Social Security for your retirement income

While social security might provide a substantial portion of your retirement income, you should have other means of income as a back up. It's best to have a company pension or retirement plan and personal savings in addition to social security when you
retire.

5. Relying on your spouse's retirement plan

If one spouse relies on his/her spouse's retirement plan for his/her retirement, he/she could be in for a very sad surprise. The spouse with the retirement plan could die leaving the other spouse with no income. There could be a divorce or even illness that could compromise the single spouse retirement plan. Each person must have a separate retirement plan for the
best retirement security.

6. Forgetting to review your plan regularly

If you forget or ignore reviewing your retirement plan on a regular basis, you might be losing a portion of your retirement income. You need to periodically review your asset allocation, your balances, your goals, and so on to insure you are making the most of
your plan.

7. Practicing poor asset allocation

Poor asset allocation can be financial suicide. What if all your investments are in one stock and the company goes bankrupt? The secret is to diversify sothat if one investment decreases in value, another will hopefully increase.

8. Not checking out your broker/financial advisor

There are lots of reputable brokers and financial advisors who are knowledgeable about how your portfolio should be set up and maintained. There are also quite a few brokers and financial advisors who are not so reputable or are simply ill informed. If
you are going to trust your retirement savings to someone, you owe it to yourself to check credentials and track records.

9. Relying too heavily on your company stock

Your company stock is a very good way to save for your retirement especially in your company retirement plan. This can be dangerous though if your portfolio consists of mostly company stock. All companies have lean times and some could have mismanaged finances that could result in bankruptcy. It's best to have a good investment mix in your retirement account.

10. Not taking retirement planning seriously

This very well could be the worse mistake a person can make about his/her retirement plan. Even if you are a very young person, your retirement plan should be a
serious priority. By starting early, you can grow quite a large nest egg and might just be able to
retire early. A lot of people feel they have plenty of time to worry about retirement planning once they have their home, children through college, the new Hummer, and so on. My answer to these people is to think about the life style they might want to keep once the
paycheck stops.

Bottom line is to take your retirement planning efforts seriously, diversify your investments, save regularly, and keep your goals in mind.