PLDT, SM Sign Branding Alliance

MANILA, Philippines --- The Philippine Long Distance Telephone Co. (PLDT) has strengthened its ties with the country's biggest mall developer and operator, SM via a three-year branding alliance with SM's P3.6-billion Mall of Asia Arena, the latest events venue to open in Metro Manila.

The 16,000-seater complex located at SM's Mall of Asia in Pasay City is a six-level, world-class sports and multi-event complex with a gross floor area of 64,085 square meters. It serves as a venue for concerts, sports matches, musical and theater productions, fashion shows, circuses and corporate events.

The MOA Arena, launched last Saturday, will grant branding rights and license to have the phrase "powered by PLDT" displayed with the Mall of Asia Arena name.

The partnership will also carry multiple branding agreements with SM and PLDT including the MOA Arena state-of-the-art Daktronics scoreboard, rotational ribbon a first in such a venue in the Philippines,

digital spots, PLDT murals and exclusive PLDT show rooms located at the MOA Arena complex.

The MOA Arena will also carry two PLDT corporate suites as part of the 3-year partnership. Various businesses of PLDT, such as ALPHA Enterprise, SME Nation and HOME, will be featured in these spaces.

"We are excited to partner with SM in bringing world-class entertainment, sporting events, and other quality activities to the Filipinos through the Mall of Asia Arena," PLDT Chairman Manuel V. Pangilinan said.

source: mb.com.ph

Facebook's stock price dives, and California could take hit

Facebook's stock has nosedived since the social media giant debuted on Wall Street earlier this month, and that's bad news for California's budget.

Gov. Jerry Brown was counting on about $1.5 billion in income taxes related to the company's IPO to help patch the state's swelling $15.7-billion deficit. But if the stock price remains low, a haul that big becomes unlikely.

The Brown administration pegged the stock at $35 per share -- lower than its $38 starting point but significantly higher than the $28.19 per share at the close of trading on Wednesday.

Jason Sisney at the nonpartisan Legislative Analyst's Office, which provides budget advice to lawmakers, said tax revenue from Facebook "could be hundreds of millions of dollars less than has been projected."

Of course, that assumes the stock price stays at its current level. And even if it does, Sisney said, there are other ways for the state to make up the difference. For example, the sale of Facebook stock would increase a California resident's tax bill.

The bigger question for the state budget, Sisney said, is how the overall stock market performs. That could sway tax revenue by billions, not millions.

H.D. Palmer, spokesman for Brown's Department of Finance, said the administration does not plan to redo its revenue forecast based on the lower Facebook share price.

He pointed out that the administration's $1.5 billion estimate did not include Brown's plan for higher taxes, which the governor hopes voters approve in November. If Brown's proposal passes, the state would reap more tax revenue from the Facebook IPO.

Asked if the administration is worried about the stock price, Palmer replied by email: "We’ve kept an eye on it –- but at the same time realizing that a) it’s only been trading for less than two weeks, and b) stock prices will fluctuate -- both down as well as up relative to an opening price."

source: latimes.com

AmCham in search of best business students

Think you have what it takes to survive the cutthroat world of business?

Incoming seniors majoring in business or business-related courses will be given a chance to know what it’s like in the real world of business in the American Chamber of Commerce of the Philippines Inc. (AmCham) Business Orientation Program (BOP) 2012 from April 14 to 21, 2012, the group said Friday.

The announcement marks the beginning of a nationwide search for 30 qualified participants. Philippine universities and colleges, through their dens or program directors, can nominate up to five students to take part in the weeklong activity that involves tours and in-depth discussions with senior executives from different multi-national companies.

Students entering their senior year in school year 2012-2013, with above-average academic records, leadership skills and excellent English proficiency will be considered for admission into the program.
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The program, already on its 10th year, gives students a platform where they can swap ideas and refine their analytical and problem-solving skills within the context of a real-life business environment, said AmCham BOP 2012 Committee chair Chris Stolk.

“This program exposes the participants to various critical business functions of multinational companies, further enhancing the education they are attaining from their respective universities or colleges," he added.

Participants will then be tasked to work on a business project that will be presented to AmCham BOP Committee members. The three best projects and a best presenter will be chosen by sponsor-companies.

Source: gmanews.tv