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Macroeconomics Indicators Essay

638 words - 3 pages

The biggest IT story of the day is PLDT’s acquisition of Digitel which operates Sun Celluar, the 3rd largest telco player in the Philippines.
PLDT, which owns Smart Comm., becomes a much bigger operator and strengthening it’s number 1 spot in the country.
The Philippine Long Distance Telephone company announced today its acquisition of Digital Telecommunications Philippines, Inc. (Digitel) from JG Summit amounting to Php74.1 billion or 51.55% shares in exchange of new PLDT assets worth 2,500 per share.
Digitel, which owns Sun Cellular, announced that under the new leadership the paired networks will continue to the expansion of broadband rollout and other next generation technologies in both fixed and wired services. {source: PhilStar}
PLDT says Sun Cellular will remain a separate entity and retain the brand. Smart already surpassed 45 million subscribers in 2010 while Sun ...view middle of the document...

I don’t like it but you have to admit it was a brilliant move by Smart. If you can’t beat them, buy them out.
I am a Smart prepaid user but I value Sun’s promotions as they force Smart and Globe to offer similar promos.
They mentioned that Sun Cellular will become a separate entity, so this could mean a wider network for Sun Cellular which I hope, while retaining the unlimited plans.
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This self-made entrepreneur is not afraid to become a second mover.  He loves to offer an alternative from the number 1 company offering products and services like in telecommunications (SUN Cellular), real estate (Robinsons Land), and airline (Cebu Pacific).
He doesn’t like mixing politics and business. He doesn’t like being very close to government. Because according to him, wealth that’s based purely on politics cannot be sustained.
He thinks outside the envelope. Like Henry Sy Sr. and Andrew Tan, John Gokongwei Jr. thinks outside the envelope because he started his businesses from scratch. There’s no baggage and no tradition to follow.
The taipan shared his profits to the community. He knew that business success is nothing without sharing its profits. He donates his money in a businessman-like way. He gives money to schools like Ateneo de Manila and De La Salle University, institutions that know how to use it. This rich entrepreneur maybe got the cue from Bill Gates and Warren Buffet, the two richest billionaires and well-known philanthropist in the world.
Like Henry Sy, he love what he is doing more than he love the money. John Gokongwei has retired from his official functions and title but still remains active in JG Summit.
His business philosophy and core values helped him get through the hard times. “When you start, you have nothing in your pocket; you’ve got to be frugal. If you want to make one peso and you spent two, you’ll never make it. You must be very stupid if you don’t know what you should save on. Sure, you have to eat three meals a day and wear a pair of pants and a shirt. But when you have no money and you go videoke or disco, I would call that stupid,” Mr. Gokongwei said.

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