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8990 sees revenues hitting P20 billion in two years

8990 sees revenues hitting P20 billion in two years.....»»

Category: financeSource: thestandard thestandardNov 8th, 2018

8990 Holdings Eyes Higher Revenues

Mass housing developer 8990 Holdings Inc. targets a revenue growth of about 14 percent this year to at least PHP11.5 billion, emboldened by a strong first-quarter performance on the back of robust revenues from its residential projects. “The first quarter (earnings) has been probably the best first quarter we had in recent years. We are […].....»»

Category: newsSource:  metrocebuRelated NewsMay 17th, 2018

8990 targets to reach P20-B revenues by 2020

8990 HOLDINGS, Inc. aims to generate P20 billion in revenues by 2020, driven by the completion of its mid-rise condominium project in Ortigas Extension......»»

Category: financeSource:  bworldonlineRelated NewsNov 8th, 2018

Gov’t lost P2.6B in Caraga mining royalties from 2012-2016

MANILA, Philippines – The Commission on Audit (COA) said that the government lost P2.67 billion in revenues for not charging royalties against mining companies in the Caraga region that operated outside Mineral Reservation Areas or MRAs from the years 2012 to 2016. “The data available showed ........»»

Category: newsSource:  rapplerRelated NewsAug 22nd, 2018

DA s 2018 NBA Offseason Rankings: The Bottom 10

By David Aldridge, TNT Analyst Wonder what the rental market is like in San Luis Obispo, Calif. San Luis Obispo is, give or take a few miles, one of the closest cities that is near the midway point between Los Angeles and San Francisco. Given the events of the NBA’s offseason, it’s not hare to imagine national reporters are going to be spending a lot of time in California next season, bouncing back and forth between the Bay and L.A. Catch LeBron James and the Lakers on Wednesday and then, Stephen Curry, Kevin Durant and the Warriors on Thursday. The Western Conference only got stronger and deeper with James leaving Cleveland for a second time, this time to go to the Lakers. Add four of the top five Draft picks -- including No. 1 overall selection Deandre Ayton (Phoenix Suns), No. 2 pick Marvin Bagley III (Sacramento Kings) and international phenom Luka Doncic (No. 3 pick, acquired by Dallas Mavericks) -- going to Western Conference teams, and the talent disparity between conferences only seems greater. But did Eastern Conference teams take advantage of Cleveland deflating to make their teams better? And how effective were West teams in making their teams better prepared to at least compete with the Warriors? That’s where this year’s Offseason Rankings come in -- big, bold, definitive. You love them, if the amount of hate tweets and e-mails I get after they’re published are any indication. Every year, we rank how all 30 teams have done since the end of their respective seasons. We look at everything -- how they drafted, what trades they made, what players they signed in free agency, and for how much -- or if they didn’t participate in free agency much at all. We look at if they’ve changed coaches, executives, owners, or if they’re moving into a new building that can generate big revenues. And you have to decide which ones you liked the most. Here's what these rankings ARE NOT: A predicted order of finish for next season. It's an opinion that seeks to answer a question: is the team better now than at the end of last season? The ranking reflects the belief on whether, and how much, that is so. (I liked certain guys who were in the Draft more than others, so if your team took them, I probably weighed it more positively. Doesn't mean I'm right.) I do not expect the Suns, for example, to have a better record than the Celtics, just because they had a better summer. It is not a ranking of the teams in order from 1 through 30 right now; I do not believe the Mavericks are now a better team than Rockets. This is just one person’s opinion about offseason moves -- offseason moves only. Is your team better now than it was before? - If your team is ranked in the top 10, it doesn't mean I love your team.       - If your team is ranked in the bottom 10, it doesn't mean I hate your team. It's an opinion that seeks to answer a question: is the team better now than at the end of last season? The ranking reflects the belief on whether, and how much, that is so. (I liked certain guys who were in the Draft more than others, so if your team took them, I probably weighed it more positively. Doesn't mean I'm right.) What plays into the rankings: - This isn’t science. It’s an educated guess, weighing the impact both of the Draft and free agency, but also assessing whether teams got value in their free-agent signings. Overpaying the right player is as much a sin as signing the wrong player. A good new coach can coax some more wins out of a roster. But if a team’s players don’t believe in the system their team uses, the best Xs and Os on earth don’t matter.       - Teams that are rebuilding obviously have different priorities than teams making a championship push. That's factored in. So Chicago, for example, gets credit for adding young, affordable players as it stockpiles its talent -- but that talent has to fit together, as Wendell Carter Jr. does with Lauri Markannen. And a team like the Warriors that shows it’s willing to go deep into the luxury tax -- which most teams try to avoid -- in order to keep winning has to be commended, and its rankings reflect that commendation.       - Continuity matters here as well. The most successful teams usually not only identify a core group of players, they keep them together for a while, finding that sweet spot: everyone doesn’t get a max contract, but most get paid well enough to keep the train moving down the tracks. That reflects both good roster construction and good financial management -- and, again, is rewarded. The explosion in the cap means everyone has to spend; keeping your powder dry for another day doesn’t have as much cache as it used to. But you still have to manage your money wisely. Salary numbers, with a couple of exceptions, come from Basketball Insiders, whose Eric Pincus does the best job of anyone in the game of keeping track of all the moving financial parts, quickly and accurately -- which is why we use him at NBA TV during the Draft and free agency to tell us what the hell this all means. The Bottom 10 * * * 21. DETROIT PISTONS 2017-18 RECORD: 39-43; missed playoffs ADDED: Coach Dwane Casey; New executive Ed Stefanski; G Bruce Brown (No. 42 pick, 2018 Draft); G Jose Calderon (one year, $2.3 million); C Zaza Pachulia (one year, $2.3 million); G/F Glenn Robinson III (two years, $8.3 million); G Khyri Thomas (No. 38 pick, 2018 Draft) LOST: Former coach Stan Van Gundy; G Dwight Buycks (waived); F/C Eric Moreland (waived); F Anthony Tolliver (signed with Wolves) RETAINED: None THE KEY MAN: F Blake Griffin. And he will be for some time. The Pistons need him to be his former All-Star self again, able to take slower defender to the basket, able to stretch the floor if he plays the five in small-ball lineups. They need him to be a playmaker, to get Reggie Jackson more looks off the ball and Andre Drummond some high-low lobs at the rim. They need him to sell tickets at Little Caesars Arena in Detroit’s revitalized downtown -- a building that seems to be more for the NHL’s Red Wings than the NBA’s Pistons. And they need Griffin to be an anchor that draws players to the Motor City during the life of his extension. THE SKINNY: Owner Tom Gores agonized over firing Van Gundy, but he finally did so, and was fortunate that Casey was available and willing to step right back into the fray after being cashiered in Toronto. Casey will be quite in his element building a defense around Drummond, but, like Van Gundy, Casey will need Jackson to stay healthy; he’s missed a combined 67 games the last two seasons. Detroit did well for not having a first-round pick to come out of the Draft with two solid guard prospects deep in the second in Thomas and Brown. However, the new coaching staff will have to get more out of the team’s last three first-rounders: Stanley Johnson (2015), Henry Ellenson (2016) and Luke Kennard (2017). 22. BOSTON CELTICS 2017-18 RECORD: 55-27; lost in Eastern Conference finals ADDED: G Brad Wanamaker (one year, $838,000); C Robert Williams (No. 27 pick, 2018 Draft) LOST: G Shane Larkin (signed to play in Turkey); F Abdel Nader (traded to Thunder) RETAINED: C Aron Baynes (two years, $10.6 million); F Jabari Bird (two years, $3 million), G Marcus Smart (four years, $52 million) THE KEY MAN: F Gordon Hayward. All indications are he’s well on his way back from that horrific injury he suffered on opening night last season. He can do so many great things in coach Brad Stevens’ system, and if he’s 100 percent by the playoffs, Boston may well be the one team that can match up, player for player, with Golden State in a Finals meeting. (Remember this when people inevitably say I ranked the Celtics 23rd in offseason moves.) THE SKINNY: Boston got its biggest work done after Smart couldn’t loosen up an offer sheet from the Sacramento Kings or Dallas Mavericks, and eventually worked out a deal for less than he sought to return. Smart’s deal puts Boston in the tax for the foreseeable future, but the Celtics knew that was the next step in keeping a Finals-capable core group together. With Kyrie Irving and Hayward expected back on line Stevens can throw so many different lineups out there, all committed to stifling opponent movement with long, switching defenders led by Smart, Jaylen Brown and Jayson Tatum. Williams was worth an end of the first flier, though he didn’t get off to a great start. If he gets a good wake-up alarm on his phone, he has a chance to be the Celtics’ center of the future. 23. PHILADELPHIA 76ERS 2017-18 RECORD: 52-30; lost in Eastern Conference semifinals ADDED: F Wilson Chandler (acquired from Nuggets); F/C Mike Muscala (acquired from Hawks); G Zhaire Smith (No. 16 pick, 2018 Draft); G Landry Shamet (No. 26 pick, 2018 Draft); G Shake Milton (No. 54 pick, 2018 Draft) LOST: Former GM Bryan Colangelo (resigned); F Justin Anderson (traded to Hawks); G Marco Belinelli (signed with Spurs); F/C Richaun Holmes (traded to Suns); F Ersan Ilyasova (signed with Bucks); G/F Timothe Luwawu-Cabarrot (traded to Thunder) RETAINED: C/F Amir Johnson (one year, $1.5 million); G T.J. McConnell (picked up team option); G J.J. Redick (one year, $12.2 million) THE KEY MAN: G Markelle Fultz. His rookie year laid waste by a combination of injury and the yips -- which the Sixers have finally copted to -- Fultz is reportedly rebuilding his shot successfully under the learned eye of development coach Drew Hansen. If that carries over to the fall, Fultz will get a true opportunity (he had some cameos late in his rookie season) to show a skeptical Philly fan base he was worth the top pick in 2017, and worth Philly trading up to get him. He definitely could fill a need with the 76ers for a second playmaker to go with and occasionally in place of reigning Kia Rookie of the Year winner Ben Simmons. But if Fultz has another setback, physically or otherwise, it will be hard for him to stick much longer in Philly -- not a town known for patient reflection with regard to its sports teams. THE SKINNY: Coach Brett Brown was quite clear when he said the Sixers were hunting for a superstar this summer with the cap space they’d assiduously cleared the last couple of years. But the summer has come and gone and there’s no LeBron, no Kawhi, no trade, at least not yet, for Jimmy Butler or anyone else at that level. Belinelli and Ilyasova both played huge roles for Philly in the playoffs; maybe Fultz (see above) takes on some of that role, and Chandler will help. But this doesn’t feel like a successful offseason for one of the real risers in the East. 24. PORTLAND TRAIL BLAZERS 2017-18 RECORD: 49-33; lost in first round ADDED: G Seth Curry (one year, $2.7 million); G Nik Stauskas (one year, $1.6 million); G Anfernee Simons (No. 24 pick, 2018 Draft); G Gary Trent Jr. (No. 37 pick, 2018 Draft) LOST: G/F Pat Connaughton (signed with Bucks); F/C Ed Davis (signed with Nets); G Shabazz Napier (signed with Nets); C Georgios Papagiannis (waived) RETAINED: C Jusuf Nurkic (four years, $48 million) THE KEY MAN: Assistant coaches David Vanterpool, Nate Tibbets, Dale Osbourne, Jim Moran, John McCullough and Jonathan Yim. With the Blazers mostly landlocked the next two seasons -- they’re currently above the projected luxury tax line both for next season and 2019-20 -- there aren’t likely going to be many significant roster changes for a while. And in the West, especially, standing pat is often falling behind. It will thus fall to Portland’s excellent staff behind coach Terry Stotts to maximize the production of the current group. They can point with some pride to success stories like Will Barton and Allen Crabbe, now in Denver and Brooklyn, respectively, along with Maurice Harkless and Al-Faroqu Aminu. For Portland to take another step up, they’ll have to coach up someone like 2017 first-rounder Zach Collins or this year’s first-rounder, Simons. They must have them exceed expectations to become a third legit star behind Damian Lillard and C.J. McCollum. THE SKINNY: Lillard insists the rumblings heard in some quarters that he’s unhappy in Portland aren’t true, and the franchise better hope he’s being honest. The decisions the Blazers made in 2016 continue to lock them in place; if they catch a favorable first-round matchup (a grumbling Rockets team in 2014; an injury-strafed Clippers squad in 2016), they can advance a round. But last year’s 4-0 sweep by the New Orleans Pelicans had to give everyone pause. How does Portland respond mentally? Re-upping Big Nurk in the middle on a very reasonable deal -- $12 million for a starting center was the going rate five years ago, when the Wolves gave Nikola Pekovic a five-year, $60 million contract -- was necessary. But losing Davis, a locker room and fan favorite for superior work ethic, will hurt, even though Collins should sop up a lot of those minutes. 25. ORLANDO MAGIC 2017-18 RECORD: 25-57; missed playoffs ADDED: Coach Steve Clifford; C Mohamed Bamba (No. 6 pick, 2018 Draft); G Isaiah Briscoe (three years, $3.9 million); F Melvin Frazier (No. 35 pick, 2018 Draft); F Jerian Grant (acquired from Bulls); F Justin Jackson (No. 43 pick, 2018 Draft); F Jarrell Martin (acquired from Grizzlies); C Timofey Mozgov (acquired from Hornets) LOST: C Bismack Biyombo (traded to Hornets); G Mario Hezonja (signed with Knicks); C Dakari Johnson (traded to Grizzlies); G Shelvin Mack (waived); G Rodney Purvis (traded to Thunder) RETAINED: F Aaron Gordon (four years, $82 million) THE KEY MAN: G D.J. Augustin. A vet’s vet, he’s played 10 years in the league and started 226 games for eight teams, including 56 over the last two for the Magic. He’ll enter this season as the unquestioned starter at the point with Elfrid Payton in New Orleans and Orlando still looking to solve its long-term search for a point guard. It’s Augustin’s turn. THE SKINNY: At some point, Orlando’s yearly gambles on size and potential will pay off. Bamba could be the goods; he’s got a demeanor and toughness that should keep him together while he learns the craft at the pro level. But -- again -- it will take some time for Bamba, like 2017 first-rounder Jonathan Isaac, and Gordon, in whom Orlando invested a sizeable sum in July, to flourish. And Magic fans rightly can ask exactly how long they’re to remain patient. Clifford is supposed to improve the defense, but so was Frank Vogel … and so was Scott Skiles … and so was Jacque Vaughn. 26. NEW ORLEANS PELICANS 2017-18 RECORD: 48-34; lost in Western Conference semifinals ADDED: G Tony Carr (No. 51 pick, 2018 Draft); G Elfrid Payton (one year, $3 million); F Julius Randle (two years, $17 million) LOST: C DeMarcus Cousins (signed with Warriors); G Rajon Rondo (signed with Lakers) RETAINED: G Ian Clark (one year, $1.7 million); F Nikola Mirotic (picked up player option) THE KEY MAN: Owner Gayle Benson. Mrs. Benson took control of the team after the death of her husband, Tom, last March. She displayed great grace in the days and weeks after Tom Benson’s death, making it clear at the time she had no interest in selling the team and would continue to make outlays to keep the team competitive. The Pels didn’t blink last summer giving Jrue Holiday $126 million, and that will have to remain the case going forward if New Orleans is to repeat its surprising run to the Western Conference semifinals last spring. THE SKINNY: Can’t lose your starting point guard and your starting All-Star center in one offseason -- no matter what the circumstances -- and come out of it with high offseason marks. And especially when Rondo seemed like the perfect fit for the team. Mirotic mentioned during the Warriors series how good Rondo was at picking him up and connecting him quickly with the team after he was traded to New Orleans from Chicago. And, yes, coach Alvin Gentry mentioned he may have exchanged cusses with Rondo every now and again, too. Life in RondoWorld. The path forward is narrower, but not impassible; Randle can be tantalizing at times, maddening at others, but he could plug-and-play at the four, and he can take some of the playmaking burden off of Holiday. But big minutes on the ball for Holiday again is not what New Orleans had in mind. Payton is going to have to perform immediately. And losing “Boogie” Cousins is a big minus. It’s not what the Pelicans gave up to get him. It’s the fit and flow he had with Anthony Davis before the injury, and what the promise of a return this season could have meant toward carrying the momentum of last year forward. 27. MINNESOTA TIMBERWOLVES 2017-18 RECORD: 47-35; lost in first round ADDED: F Anthony Tolliver (one year, $5.7 million); G Josh Okogie (No. 20 pick, 2018 Draft); F Keita Bates-Diop (No. 48 pick, 2018 Draft) LOST: C Cole Aldrich (waived); F Nemanja Bjelica (signed with Kings) RETAINED: G Derrick Rose (one year, $1.5 million) THE KEY MAN: Vikings QB Kirk Cousins. He signed for big, big money by NFL standards (three years, $84 million), and the Vikings have Super Bowl aspirations. So all the light will be on the Vikes most of the fall and winter in Minneapolis, keeping it off of the still-young Wolves, who won’t be able to sneak up on anyone after breaking their long postseason drought. THE SKINNY: The Wolves should be positioned to build on their playoff run, especially if Butler can get through a full season healthy and Karl-Anthony Towns adds consistency to his prodigious talents. But they didn’t do much in the offseason, and the team that they beat out on the last day of the regular season, Denver, looks to be much improved. Tolliver should help the Wolves’ depth; they essentially traded him for Bjelica, and he shot slightly better on 3-poiners last season than Belly. Plus, they don’t come better as a guy than Tolliver and he can help Minnesota in the locker room. The issue of Butler’s contract isn’t going away; there will be a reckoning at some point, and he’ll have a lot more options next summer than free agents had this summer. Until then, coach Tom Thibodeau has pretty much the same team that he has to cajole better defense out of next season (22nd in Defensive Rating; 17th in points allowed). 28. CHARLOTTE HORNETS 2017-18 RECORD: 36-46; missed playoffs ADDED: Coach James Borrego; GM Mitch Kupchack; C Bismack Biyombo (acquired from Magic); F Miles Bridges (No. 12 pick, 2018 Draft); G Devonte' Graham (No. 34 pick, 2018 Draft); F Arnoldas Kulboka (No. 55 pick, 2018 Draft); ; G Tony Parker (two years, $10.2 milliion) LOST: G Michael Carter-Williams (signed with Rockets); C Dwight Howard (traded to Nets); C Timofey Mozgov (traded to Magic); G Julyan Stone (traded to Bulls) RETAINED: None THE KEY MAN: C Cody Zeller. It’s a guess -- Borrego could opt for Frank Kaminsky III -- but Zeller would seem to be the replacement at center for Dwight Howard, who wound up in Washington after the Hornets traded him to the Nets. Zeller started 58 games two years ago and was very good in screen and rolls with Kemba Walker. Zeller only played in 33 games last season because of a left knee injury; if he returns to form, the Hornets could pick up offensively and actually have a little more diversity at that end than last season. THE SKINNY: Team owner Michael Jordan cleaned house after a disappointing 2017-18, bringing another Tar Heel back home in the veteran Kupchak. Kupchak dispatched Howard and then got Mozgov’s guaranteed 2019-20 season off his books to take back Biyombo, who’d left Toronto two years ago for $72 million from the Magic and who’s got a player option for 2019-20. Well before then, the Hornets are going to have to decide what to do with Walker, who’ll be one of the top free agents available next summer if Charlotte can’t get him re-signed or extended. The Hornets were 8.8 points worse when the two-time All-Star was off the court rather than on. Nicolas Batum has to make a return to the all-around talent that enticed Charlotte to trade for him and give him a $120 million extension; he averaged just 11.6 points per game last year, his lowest in three years. Howard’s presence in the paint may have clogged things up some, but that’s no longer the case. 29. CLEVELAND CAVALIERS 2017-18 RECORD: 50-32; lost in The Finals ADDED: F Channing Frye (one year, $2.3 million); G Collin Sexton (No. 8 pick, 2018 Draft) LOST: G Jose Calderon (signed with Pistons); F Jeff Green (signed with Wizards); F LeBron James (signed with Lakers); C Kendrick Perkins (waived); F Okaro White (waived) RETAINED: F Kevin Love (contract extension) THE KEY MAN: GM Koby Altman. Altman has a blank slate now after trying to steer a championship-contending ship that had been stripped of a few propeller blades in the last 13 months. With James gone, as well as former GM David Griffin, the 35-year-old Altman has team owner Dan Gilbert’s charge to rebuild the Cavs without taking them down to the studs (as the Cavs did after James first departure in 2010). Altman’s next task after working out Kevin Love’s $130 million extension is clearing the roster of all the veterans brought in the last three years mainly because of their ability to play off of James. THE SKINNY: There weren’t any widespread jersey burnings this time in the Land. James left for L.A. with relative good will from his hometown, having delivered the championship it had waited 52 years for in 2016. Truly, the Cavs’ rebuild started the minute Kyrie Irving demanded a trade; last season seemed more rearguard action than an attack at another title. Extending Love through 2023 with no outs -- keeping him locked with rookie Sexton through the latter’s last controllable season before hitting unrestricted free agency -- gives Cleveland a base upon which to build. Cap room will follow in 2019, but next season will be difficult; Sexton has a lot of toughness and potential, but rookie point guards tend to get their lunch handed to them. 30. MIAMI HEAT 2017-18 RECORD: 44-38; lost in first round ADDED: None LOST: None RETAINED: G Wayne Ellington (one year, $6.2 million); F/G Derrick Jones Jr. THE KEY MAN: G Josh Richardson. Like many of his teammates, Richardson got an extension a couple of years ago -- four years and $42 million. Last season, he was (again) a solid two-way player for Miami -- almost 13 points per game, 84.5 percent from the line, 37.8 percent on 3-pointers. But if the Heat is going to shake out of the middle lane in which it currently seems stuck, Richardson will have to expand. Miami’s current roster makes it complicated; Pat Riley thinks Richardson’s probably more of a two, but he plays mostly three for coach Erik Spoelstra because Miami’s best lineups were small ball ones. Another offseason at P3 in California will help Richardson continue his development. THE SKINNY: No, Heat people: I don’t hate your team. But when you have no Draft picks, and you have no cap space, and thus you literally could do nothing in the offseason, and basically did nothing in the offseason, and your biggest, most newsy event was whether your 36-year-old future Hall of Fame guard will come back for one more season or play over in China … well, what am I supposed to do with that information? Rank you first? The question is, how much better is your team now than it was at the end of last season? It’s essentially the same team; other than the likes of Richardson (see above) or Justise Winslow, it’s not like there’s a great step up expected from Hassan Whiteside or Goran Dragic, is there? The Heat is not any better than last season. It isn’t any worse. It just … is. So, 30. Longtime NBA reporter, columnist and Naismith Memorial Basketball Hall of Famer David Aldridge is an analyst for TNT. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsAug 8th, 2018

Comm. Silver, NBPA say competitive imbalance not a problem

By Steve Aschburner, NBA.com LAS VEGAS -- First came the backlash. Next, backlash to the backlash. By Tuesday (Wednesday, PHL time), much of the whipsawing over competitive balance -- or more accurately, imbalance -- as an NBA problem rising to the level of crisis had calmed down. Yet powerful voices from the league’s summer nerve center could not dismiss it entirely as an issue meriting closer inspection. “I'm not here to say we have a problem,” NBA commissioner Adam Silver said Tuesday after the Board of Governors meeting. “And I love where the league is right now. [But] I think we can create a better system.” Neither Silver nor Michele Roberts, the executive director of the National Basketball Players Association, sounded an alarm in their separate news conferences about what many see as a widening gap between the league’s haves and have-nots. Roberts, in fact, seemed to feel that all is well and that talent inequality is in the eye of the beholder. “Competitive balance, it almost depends on what your favorite team is,” said Roberts, who was rehired as head of the players union in another four-year contract announced Tuesday (Wednesday, PHL time). “I don’t hear anybody in the Bay Area worrying about competitive balance. I also don’t hear the people in Philadelphia worrying about competitive balance, or Houston. “We’ve got great teams. And it’s never been the case, as far as I’m concerned, where I was not able most of the time to predict what teams were going to be in the Finals.” The topic came up in precisely that context before the Finals last month when Silver was asked about Golden State and Cleveland meeting in the championship series for the fourth consecutive year, a first in any of the major professional sports leagues. It reared its head again this month soon after free agency opened on July 1, with events conspiring to make insiders wonder about a growing disparity among teams. LeBron James’ signing with the Los Angeles Lakers was the biggest move in what appeared to be a continuing shift of strength into the league’s Western Conference. That was followed by the news that DeMarcus Cousins, New Orleans’ All-Star center, had joined the champion Warriors. That signing sparked the initial backlash, a rich-getting-richer cry that pointed not to Cousins’ one-year deal for $5.3 million in 2018-19 salary but the fact that the Warriors will spend in excess of $20 million for it when luxury taxes are counted. Golden State had the NBA’s fattest payroll in 2017-18 of $137.5 million, despite a $99 million salary cap, thanks to various exceptions in the prevailing “soft cap” system. “I don't necessarily think it's per se bad that the Warriors are so dominant,” Silver told reporters, not long after discussing the “competitive landscape” with the owners. “As I've said before, we're not trying to create some sort of forced parity. What we really focus on is parity of opportunity. And a fair point could be made in the tax system, when certain teams are spending significantly more than others, that that's not parity of opportunity.” The counter-backlash came from folks who rushed to the Warriors’ and Cousins’ defense, correctly noting that neither did anything wrong, conducting their business within the rules as specified by the collective bargaining agreement between the owners and the players. That CBA is the object of endless study and imagined revision, with amendments possible if negotiated prior to the end of the current deal after the 2023-24 season. Shooting for a “hard cap” likely would be a tough sell to players accustomed to the freedom of movement they currently enjoy. “It's not necessarily [Roberts’] issue,” Silver said in response to the union director’s characterization. “I think it's on me and our Labor Relations Committee, ultimately, to sit with the players and their committee and convince them that there may be a better way of doing things.” Silver mentioned Charlotte owner and legendary NBA superstar Michael Jordan, chairman of that Labor Relations Committee, as a valuable resource in addressing owners’ and players’ competition concerns. Both sides have valid arguments. Interest in the NBA never has been higher by almost any metric chosen, from selected TV ratings and licensing revenues to the game’s growth globally. Attendance at the MGM Resorts Las Vegas Summer League keeps pushing higher, with fans eager to see top rookies, second-year players and relative free-agent unknowns chasing their pro hoops’ dreams. The valuations of the 30 NBA franchises, of course, all have soared beyond $1 billion, according to Forbes.com, with the Knicks, the Lakers and the Warriors all estimated to be worth more than $3 billion. Longtime NBA observers such as TNT’s David Aldridge wrote a column this week that argued on behalf of dominant teams, anyway, saying that they actually drive rather than depress fan interest. As for any inability to win games or titles, he laid the blame for that on poor franchise management. The Knicks and the Clippers have all sorts of big-market advantages but haven’t won any championships lately (or at all in the Clippers' case). For Roberts, whose players reap 51 percent of NBA basketball-related income that tops $7 billion annually, business is good, period. “I’m excited about this new season,” she said Tuesday (Wednesday, PHL time). “This free agency, there’s been a lot to write about so we’re all, I think, looking forward to what’s going to happen come October. “To the extent that people are predicting the end of the game, I just don’t think so. I would be surprised if Adam called me to say, ‘What the hell are we going to do?’ I think he’s as happy as I am. ... I think we’re in good shape.” Critics note Golden State’s on-court dominance in winning the last two championships. It only took nine NBA Finals games --one over the minimum -- while facing arguably the league’s best player in LeBron James. But those same critics seem to foget that the Warriors were pushed to the full seven games in the conference finals, and actually faced elimination twice before beating the Rockets. “I recognize what Michele's saying,” Silver said. “But at the same time, if you talk to players in the league, and I've talked to plenty of individual players as well, they want to be in the most competitive league possible too.” For every player on the Warriors' roster -- or the Rockets, the Thunder, the Celtics or the Sixers -- there are five or six on teams that realistically have no chance of chasing a ring or the Larry O’Brien Trophy. Cleveland went to four straight Finals thanks to James; no one envisions the Cavaliers getting back any time soon. “Maybe there are some players who think they’re on a second-class team,” said Sacramento wing Garrett Temple, one of the NBPA vice presidents. “But most players I’ve played with or been around, their thought process is, ‘We’re gonna get our team to become one of those first-class teams.’ It’s more of a challenge. More so than, ‘We need them to disband so we can make everybody equal.’ Because we’re competitors.” That really is the crux of the issue. Silver and some franchises want most of the competition to come on the floor, in games, in full view of fans who believe their teams can sufficiently compete. The league’s current title contenders are fine with a system that allows them to compete all the way to the top, with an owner stroking gargantuan checks to crowd out rivals. “Let me make clear that under the current system we want teams to compete like crazy,” Silver said. “So I think the Warriors within the framework of this deal should be doing everything they can to increase their dominance. That's what you want to see in a league. “You want teams to compete in every way they can within the rules.” Silver addressed a variety of topics that were came from the BOG agenda, including: -- Change is coming on multiple fronts, most notably in the league’s age limit. That seems likely to be re-set back to 18 years old from 19, permitting players to enter the league from high school. It’s a move that the NBA should be better equipped to handle with a near 30-for-30 farm-system affiliation with its G League. It also fits with the findings of an NCAA task force that cites dissatisfaction with “one-and-done” college players. Said Silver: “My personal view is that we’re ready to make that change.” -- The start of free agency, annually triggered at midnight ET on July 1 (12:00pm, July 1, PHL time), will be moved to a daytime or prime time opening bell. It’s one of those traditions that no one thought to change, Silver said. -- The league’s investigation into the Dallas Mavericks’ sexual harassment issues should be completed by the end of the month. Steve Aschburner has written about the NBA since 1980. You can e-mail him here, find his archive here and follow him on Twitter. The views on this page do not necessarily reflect the views of the NBA, its clubs or Turner Broadcasting......»»

Category: sportsSource:  abscbnRelated NewsJul 12th, 2018

Finance sees June inflation hitting a high of 4.9%

Inflation likely climbed to 4.9 percent year-on-year in June, which would be the highest in more than five years, due to a low base from last year, the higher prices of vegetable and "sin" products and increased education-related costs at the start of the school year, the Department of Finance said yesterday. In an economic bulletin, Finance Undersecretary and chief economist Gil S. Beltran said consumer prices last month inched up 0.35 percent from levels in May. "The month-on-month inflation adjustment may be due mainly to two items---the 2.43-percent month-on-month rise in prices of education[-related goods and services] during the opening of classes, and 2.27-percent rise in ve...Keep on reading: Finance sees June inflation hitting a high of 4.9%.....»»

Category: newsSource:  inquirerRelated NewsJul 4th, 2018

US Open hopes ultimate test doesn t feature trick questions

By Doug Ferguson, Associated Press SOUTHAMPTON, N.Y. (AP) — The U.S. Open wants to be the ultimate test in golf, and sometimes that leads to a series of trick questions. One of them was 14 years ago at Shinnecock Hills. A year after Jim Furyk tied the U.S. Open scoring record at Olympia Fields, the 2004 U.S. Open was so bone dry and lightning fast that only three players broke par on the weekend, none on Sunday. Fans having to move to the side because of a golf ball rolling toward them is not unusual, except when the player hit the shot with his putter from the green. Tee shots that landed on the seventh green rolled off the putting surface and into a bunker. One year after Rory McIlroy broke the U.S. Open scoring record at Congressional, no one broke par at Olympic Club in 2012 when Webb Simpson won. Moments like this lead to criticism that the USGA overreacts. Justin Rose sees it another way. "When everything is in balance, it's kind of boring," he said. "And I think in life, the closer you get to the edges, that's where the excitement is. So I would say the USGA is not reactionary. It's counterbalancing. So if you go too far one way, you've got to come back the other way. You don't want to fall off the edge." That's the question going into the 118th U.S. Open that starts Thursday. Might the USGA lean toward going easy on players because of what happened the last time at Shinnecock Hills? Or will it make it tougher on them because of the record scoring last year at Erin Hills? Brooks Koepka tied the record to par at 16 under, and six other players finished at 10 under or lower. "We're confident this should be a marvelous test," said Mike Davis, the chief executive of the USGA who has been in charge of setting up the courses for the U.S. Open since 2006 at Winged Foot, when the winning score was 5 over. Davis believes Shinnecock Hills is right where the USGA wants it, even with a light, steady rain on the final day of practice. Wednesday is never the measure of how a golf course presents itself. McIlroy is among those who likes what he sees. It's not a U.S. Open if players are not complaining, but it's been a quiet three days ahead of competition. The biggest question is whether the fairways are narrow enough. They are tighter than last year at Erin Hills, for sure, and an average of 15 yards wider than in 2004. "Honestly, I think they've got it right," McIlroy said. "It presents guys with options off the tee. You have to make a decision basically on every tee box what you're going to do. I'm obviously not that old, but when I watched U.S. Opens on TV and saw these long, narrow corridors of fairways and thick rough, that's what I was used to at a U.S. Open. ... If you look at the venues that are coming up, they're very traditional venues like Oakmont, Winged Foot, Pebble Beach. "Maybe you'll see more of what we perceive as a traditional U.S. Open setup." Rain was expected to yield to plenty of sun over the next four days, with the strongest wind on Thursday. Davis said he already has called several audibles on the original plan of where to put the pins on the greens, an example of the USGA not wanting the course to get on the wild side. Davis also said the winning score is not an issue at a major where par tends to be at a premium. "Never since I've been at the USGA — and it's been almost 30 years — I've never heard anybody at the USGA say we're shooting for even par," Davis said. "But we talk incessantly, 'How do we get the course to be really a great test of golf?' As we say, get all 14 clubs dirty to make sure that these players are tested to the nth degree." And what makes a good championship inside the ropes? The quality of the winner? Different players have won the last 15 U.S. Opens, the longest stretch of the four majors. The margin? The last playoff was 10 years ago when Tiger Woods won at Torrey Pines. Three of the last four U.S. Opens have been decided by three shots or more. "You need some great players in the mix," Rose said. "You need some great story lines." This U.S. Open is not lacking for either. Five players have a chance to replace Dustin Johnson at No. 1 in the world this week. Woods is hitting the ball well enough to win any week if he ever gets all parts of his game working together. To win a record-tying fourth U.S. Open would cap off an unlikely comeback following four back surgeries. Phil Mickelson, in the USGA record book with his six runner-up finishes, needs only this trophy to complete the career Grand Slam. "And then just a good test of golf where people think, 'Wow, they've really stepped up and played great golf under pressure,'" Rose added. "I think that's what people would like to see in this tournament is that guys are tested to the ends of the ability, to whether they can cope or not. And I think that's part of the charm ... not charm, but part of the allure of this tournament." The ultimate test starts Thursday. Results won't be available until the end of the week......»»

Category: sportsSource:  abscbnRelated NewsJun 14th, 2018

Grab Philippines losses up to P2.9B in 2017 – country manager

GRAB Philippines lost P2.91 billion in 2017, an increase from the P1.56 billion in 2016, claiming that it has never earned anything since it started business in the Philippines. “Grab has not made any net income for the past years since it entered the Philippine market. Revenues from 20 percent commission from rides are used [...] The post Grab Philippines losses up to P2.9B in 2017 – country manager appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJun 5th, 2018

Call center industry sees $1-B additional revenues this year

THE CONTACT CENTER industry hopes to generate as much as 70,000 jobs and $1-billion additional revenues this year, amid challenges brought by the rise of artificial intelligence which threatens process-driven jobs. The post Call center industry sees $1-B additional revenues this year appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 30th, 2018

Widus sees $1-billion expansion in Clark

KOREAN-LED Widus International Leisure, Inc., the operator of the Marriot hotel chain in Clark, Pampanga, is looking at expanding its hotel projects in the city to total to $1 billion in the next few years. While the $100-million Marriot Hotel has yet to start operations — targeted by September this year, Daesik Han, president and […] The post Widus sees $1-billion expansion in Clark appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 7th, 2018

Pilipinas Shell sees ‘huge potential’ in non-fuel business

By Victor V. Saulon, Sub-Editor PILIPINAS Shell Petroleum Corp. (PSPC) expects its non-fuel business to account for a bigger share of its gross income in the coming years, its president said, as he points to doubling the budget for the segment to about P2 billion. “Non-fuels retailing is something that continues to be our focus […] The post Pilipinas Shell sees ‘huge potential’ in non-fuel business appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 3rd, 2018

8990 Holdings posts double-digit income growth in 2017

8990 HOLDINGS, Inc. delivered a double-digit growth in profit last year on the back of higher revenues and improved margins. In a disclosure to the stock exchange, the mass housing developer reported that consolidated net income grew 16% year on year to P4.14 billion from the P3.58 billion in 2016. The real estate firm managed […] The post 8990 Holdings posts double-digit income growth in 2017 appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 2nd, 2018

Panel hopes to end US NCAA one-and-dones

By Ralph D. Russo, Associated Press INDIANAPOLIS (AP) — The most difficult part of the NCAA’s attempt to clean up college basketball begins now. Hours after former Secretary of State Condoleezza Rice presented the Commission on College Basketball’s sweeping recommendations for reforming a sport weighed down by corruption, NCAA leaders set in motion the process for turning those ideas into reality. The NCAA Board of Governors, a group of 16 university presidents and the association’s highest ranking body, unanimously endorsed all the commission’s recommendations Wednesday. Now it’s up to various subcommittees, working groups and college administrators to dig into a mountain of work over the next three months as the NCAA attempts to change NBA draft rules, create a new enforcement body, toughen penalties for rules violations, revamp summer recruiting and certify agents. All while trying to get buy-in from organizations that might not be motivated to help. “It’s going to be a challenge to say the least,” NCAA President Mark Emmert said. “This is a pace of decision making that the association’s really never done on this kind of scale before.” The Division I Council, comprised mostly of athletic directors and headed by Miami AD Blake James, has the job of turning the recommendations into rules. That requires feedback from schools, then council votes with some conference votes counting more heavily than others. Each proposal then goes to the Board of Directors, where a majority vote is needed to send it to the Board of Governors for final approval. It’s a winding path — crossing 351 Division I schools with varied priorities and concerns — and requiring consensus building and compromise for measures to pass. NCAA rule changes can sometimes take a full calendar year to sort out. “We’ve got to make sure we don’t let the good fall victim to the perfect here,” Emmert said. “Nobody believes we’re going to get everything perfect the first time through.” The independent commission Rice led released a much-anticipated and detailed 60-page report , seven months after the group was formed in response to a federal corruption investigation that rocked college basketball. Ten people, including some assistant coaches, have been charged in a bribery and kickback scheme , and high-profile programs such as Arizona, Louisville and Kansas have been tied to possible NCAA violations. “They believe the college basketball enterprise is worth saving,” Rice told the AP of commission members in an interview before addressing NCAA leaders. “We believe there’s a lot of work to do in that regard. That the state of the game is not very strong. We had to be bold in our recommendations.” The proposals were wide-ranging, falling mostly into five categories: NBA draft rules, specifically the league’s 19-year-old age limit that has led to so-called one-and-done college players; non-scholastic basketball such as AAU leagues and summer recruiting events; the relationship between players and agents; relationships with apparel companies; and NCAA enforcement. “Some people like some of (the recommendations) more than others, which is human nature, but as a board we’re unanimous in the endorsement and the acceptance of these recommendations for the NCAA,” said Minnesota President Eric Kaler, chairman of the Division I Board of Directors. It’s not yet clear how the governing body would pay for some of the proposals, though the NCAA reported revenues of more than $1 billion dollars for fiscal year 2017 in its most recent financial disclosures. The commission offered harsh assessments of toothless NCAA enforcement, as well as the shady summer basketball circuit that brings together agents, apparel companies and coaches looking to profit on teenage prodigies. It called the environment surrounding hoops “a toxic mix of perverse incentives to cheat,” and said responsibility for the current mess goes all the way up to university presidents. It also defended the NCAA’s amateurism model, saying paying players a salary isn’t the answer. “The goal should not be to turn college basketball into another professional league,” the commission wrote in its report. The commission did leave open the possibility that college athletes could earn money off their names, images and likenesses, but decided not to commit on the subject while the courts are still weighing in. Rice called the crisis in college basketball “first and foremost a problem of failed accountability and lax responsibility.” ONE-AND-DONE The commission emphasized the need for elite players to have more options when choosing between college and professional basketball, and to separate the two tracks. The commission called for the NBA and its players association to change rules requiring players to be at least 19 years old and a year removed from graduating high school to be draft eligible. The one-and-done rule was implemented in 2006, despite the success of straight-from-high-school stars such as LeBron James, Kobe Bryant and Kevin Garnett. “I’m confident they are going to be very supportive,” Emmert said of the NBA and NBAPA. The NBA and players union praised the recommendations on enforcement and expressed concerns about youth basketball. On draft eligibility rules, however, there was no commitment. “The NBA and NBPA will continue to assess them in order to promote the best interests of players and the game,” they said. The commission did, however, say if the NBA and NBPA refuse to change their rules in time for the next basketball season, it would reconvene and consider other options for the NCAA, such as making freshmen ineligible or locking a scholarship for three or four years if the recipient leaves a program after a single year. “One-and-done has to go one way or another,” Rice told the AP. ENFORCEMENT The commission recommended harsher penalties for rule-breakers and that the NCAA outsource the investigation and adjudication of the most serious infractions cases. Level I violations would be punishable with up to a five-year postseason ban and the forfeiture of all postseason revenue for the time of the ban. That could be worth tens of millions to major conference schools. By comparison, recent Level I infractions cases involving Louisville and Syracuse basketball resulted in postseason bans of one year. Instead of show cause orders, which are meant to limit a coach’s ability to work in college sports after breaking NCAA rules, the report called for lifetime bans. “The rewards of success, athletic success, have become very great. The deterrents sometimes aren’t as effective as they need to be. What we want are deterrents that really impact an institution,” said Notre Dame President Fr. John Jenkins, who was a member of the Rice commission. AGENTS The commission proposed the NCAA create a program for certifying agents , and make them accessible to players from high school through their college careers. AAU AND SUMMER LEAGUES The NCAA, with support from the NBA and USA Basketball, should run its own recruiting events for prospects during the summer , the commission said, and take a more serious approach to certifying events it does not control. APPAREL COMPANIES The commission also called for greater financial transparency from shoe and apparel companies such as Nike, Under Armour and Adidas. These companies have extensive financial relationships with colleges and coaches worth hundreds of millions of dollars, and Adidas had two former executives charged by federal prosecutors in New York in the corruption case......»»

Category: sportsSource:  abscbnRelated NewsApr 25th, 2018

PLDT sees light at end of tunnel

Telco giant PLDT Inc. sounded off hope that its business struggles were coming to a close this 2018. The company announced that it beat expectations on at least one of three earnings measures it started to track in 2017. Moreover, consolidated service revenues, which dropped 3 percent to P143.5 billion last year, is forecast to rise 4 percent in 2018, PLDT chair and CEO Manuel V. Pangilinan said on Thursday. "Things are beginning to look up for the group. I'm not saying we are completely out of the woods, but it seems we are getting there," Pangilinan said in a press briefing. PLDT announced Thursday that recurring core income, a relatively new earnings measure, rose 11 percent ...Keep on reading: PLDT sees light at end of tunnel.....»»

Category: newsSource:  inquirerRelated NewsMar 8th, 2018

DoubleDragon logs 71.8% profit growth in 2017

DoubleDragon Properties Corp. reported a 71.8% surge in consolidated net income for 2017 to P2.53 billion from P1.47 billion a year earlier after the company’s recurring revenues grew nearly four times, it told the stock exchange on Friday, March 2. “I am personally glad for the progress we have made in the past 3 years […] The post DoubleDragon logs 71.8% profit growth in 2017 appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 2nd, 2018

Belle Corp sees net income rise by 13% in 2017

MANILA, Philippines—  Belle Corporation (Belle), the gaming and property unit of the Sy family, has seen its bottom line rise on strong gaming revenues. In a disclosure to the stock exchange on Friday, March 2, Belle said its consolidated net income rose 13% to P3.5 billion in 2017, compared to ........»»

Category: newsSource:  rapplerRelated NewsMar 2nd, 2018

PH top in social media usage for 3 straight years – report

  MANILA, Philippines - WeAreSocial, an advertising agency focused on social media, recently published a study that surveyed the world’s internet-using population. There are now 4 billion people using the internet which sees a 250,000 increase from last year’s 3.75 billion. The Philippines, in particular have 67 ........»»

Category: newsSource:  rapplerRelated NewsFeb 15th, 2018

8990 Holdings posts P10B revenues in 2017

REVENUES of mass housing developer 8990 Holdings, Inc. slipped 7% in 2017, amid delays in securing permits for its projects. In a statement issued Tuesday, 8990 Holdings said its unaudited revenues reached P10.09 billion in 2017, lower than the P10.87 billion it generated in the same period a year ago. The company, however, said it […] The post 8990 Holdings posts P10B revenues in 2017 appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsFeb 6th, 2018

Train 1A, 1B income seen hitting P969.2B

Potential revenues from two packages under the Tax Reform for Acceleration and Inclusion (Train) initiative could hit P969.2 billion by the end of 2022, the Finance department said. Income from the first package — Train 1A or the just-implemented Republic Act 10963 — will account for the bulk or P786.4 billion. “Over the course of [...] The post Train 1A, 1B income seen hitting P969.2B appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJan 9th, 2018

Latest ‘Star Wars’ passes $1 billion mark in third week — Disney

  LOS ANGELES, United States --- The latest episode in Disney's colossally popular "Star Wars" series has passed the $1 billion mark in worldwide revenues after just three weeks, a Disney spokesperson confirmed Sunday. That helped provide a positive spin to what has been a year of ups and downs for Hollywood, while giving a clear boost to Disney, now the only studio to surpass $5 billion globally for the last three years, according to Deadline.com. "Star Wars: The Last Jedi" is expected to surpass another Disney film, "Beauty and the Beast," as the year's top-earning film. "Beauty" took in more than $500 million domestically and exceeded $1.3 billion worldwide. "Jedi...Keep on reading: Latest ‘Star Wars’ passes $1 billion mark in third week — Disney.....»»

Category: newsSource:  inquirerRelated NewsJan 1st, 2018