Super Secretary, supersized portfolio
It took more than a year to happen, but it looks like billionaire businessman Frederick “Deck” Go finally has a Cabinet portfolio commensurate to his abilities in the business sector.
And what a change it will be for the economic team of President Marcos to have a “Super Secretary” in charge of the various departments and agencies concerned with moving the country’s growth in the direction it needs to go.
While his previous portfolio as the President’s investment adviser wasn’t bad, business community people who have worked with him (and are aware of what he can do for the country) couldn’t help but feel that he was underutilized in his previous role as “economics and investment adviser.”
Not anymore. Go’s new portfolio not only accords him full Cabinet secretary rank but gives him supervision powers over the Department of Finance, the National Economic and Development Authority (Neda), the Department of Budget and Management, the Department of Trade and Industry, along with other agencies like the Philippine Economic Zone Authority, the Board of Investments and the Securities and Exchange Commission.
Also falling under Go’s ambit will be the powerful Neda board, the Investment Coordination Committee and the Development Budget Coordination Committee, among others.
So important is this portfolio that an executive order had to be issued to outline his responsibilities (and make sure that everyone else falls in line behind him).
But such explicit Presidential orders may not even be necessary as Go is likely to sway all members of the Chief Executive’s team to the beat of his economic conductor’s baton given his vast experience in the business sector.
Apart from his high profile job as CEO of Robinsons Land Corp., Go has also successfully headed other publicly listed firms.
He has served as vice chair of Robinsons Bank for over two decades, and has also chaired Lipad Corp., the operator of the impressive Clark International Airport.
Soon after Mr. Marcos won the presidency, Go was rumored to be a leading candidate for finance secretary, but this failed to materialize. Few could have expected that a role that was bigger—much much bigger—was in store for him.
The question now is … will he be able to make the disparate units and heads of the administration work in unison toward a common goal? Abangan! —Daxim L. Lucas
Kapitan lauds PAL milestones
Two years after flag carrier Philippine Airlines (PAL) embarked on its restructuring program in the wake of the devastating COVID-19 pandemic, it is starting to produce significant gains that Kapitan Lucio Tan is celebrating with the rest of the PAL family.
In a Christmas message to PAL employees, Tan lauded the “exceptional efforts” of both management and staff to deliver “caring” service that won it the support of its valued customers, leading to a string of awards and accolades in 2023.
On top of the list of PAL wins in 2023 is being named the top airline for customer service in the Philippines Best Brand Customer Service 2023 survey conducted by Statista in partnership with the Philippine Daily Inquirer.
He also noted the “Best Airline in Southeast Asia” award from the recent Arabian Travel Awards in Dubai. PAL was also rated by London-based analytics firm Cirium as one of the most punctual airlines in Asia-Pacific for August, September and October 2023.
“I commend all our leaders and employees for these hard-won achievements. I am aware that you labored with great dedication despite some operational challenges during the first half of the year. I hope we are inspired and encouraged by the verdict of our local customers, who have confirmed their appreciation as borne out in these surveys, ratings and awards,” Tan said.
He then challenged the PAL family to build on the recent successes and “aim higher” in terms of on-time performance, schedule integrity and service “that embodies our ideal of Buong Pusong Alaga.”
“Let us focus even more strongly on our vision to be the airline of choice in the markets that we serve. Let us cotinue to work together to make our nation proud of its world-class flag carrier,” Tan concluded. —Tina Arceo-Dumlao
Major resto chain for sale
A major restaurant group could be close to a sale if its owners agree to one of several offers on the table.
A Biz Buzz source said interested buyers for the group were foreign and local parties willing to pay “north” of $150 million (P8.4 billion) to acquire the company, best known for its US hamburger and Italian casual restaurants often found in the country’s major malls.
Interested parties also include private equity funds, although this group has already received private equity money in the past via a firm with a Spanish-sounding name based in Makati City.
“These are serious buyers. But of course, the board is still evaluating whether to sell or not,” the source said.
While the company has been on the selling block for some time, we’re told there was no hurry to complete a deal given the resurgence of restaurants in the postpandemic era.
The group remains on expansion mode as it continues to open new branches of a US donut chain that made its Philippine debut last year. —Miguel R. Camus INQ
