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Japanese financial giants: PH samurai bonds to make a killing

Five large Japanese financial institutions are supporting the Philippines' upcoming $1-billion samurai bond sale, the first issuance without a guarantee. The Department of Finance (DOF) said i.....»»

Category: newsSource: philippinetimes philippinetimesJun 21st, 2018

Japanese banks support samurai bond offer – DoF

The government’s planned issuance of $1-billion worth of samurai bonds has earned the support of Japan’s leading financial institutions, the Finance department said on Wednesday. In a statement, the Finance department said top officials of Mitsubishi UFJ Financial Group, Nomura Holdings Inc., Mizuho Bank Ltd., Sumitomo Mitsui Banking Corp. (SMBC) and Daiwa Securities Group Inc. [...] The post Japanese banks support samurai bond offer – DoF appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 20th, 2018

Giants manager Bruce Bochy to retire after this season

By Janie McCauley, Associated Press SCOTTSDALE, Ariz. (AP) — Bruce Bochy has always managed with his gut. Those same instincts told him it's nearly time to retire. Bochy announced Monday this will be his last season managing the San Francisco Giants, his 25th in all as a big league manager. He told the team before Monday's spring training workout at Scottsdale Stadium. "In my mind it's time," he said. Bochy, who turns 64 on April 16, had offseason hip replacement surgery that has him moving more swiftly and he insists "the health's great" and didn't factor into the choice. He begins his 13th season with the Giants. He led the club to World Series championships in 2010, '12 and '14. "I've managed with my gut. I came up here in 2007 on my gut. So it's a gut feeling it's time," Bochy said. "It's been an unbelievable ride. There's so much in there to be grateful for, with the players, the city, the fans, my ride here. It's time. I'll stay in baseball and do something. ... I'm not going too far, trust me. I love this game. It's been in my blood, so sure I'll be doing something in another capacity and I look forward to it." Bochy came to San Francisco from the San Diego Padres before the 2007 season, in time to watch Barry Bonds break Hank Aaron's career home run record that August. He managed Matt Cain's perfect game in 2012 and a pair of no-hitters by Tim Lincecum against the Padres in July 2013 and June '14. "This will give me time to go back and reflect and even watch some games and think about some of these great achievements and milestones these players have reached," Bochy said. "I've always had a deep appreciation for the gifts and talents of these players. I consider myself fortunate to have managed players like a Bonds and Lincecum." Every other manager with three or more titles has been inducted into the Hall of Fame. "I haven't even thought about that," Bochy said. Giants CEO Larry Baer already envisions a place in Cooperstown for Bochy, "Words cannot adequately express the amount of admiration, gratitude and respect the Giants family has for Bruce Bochy," Baer said in a statement. "His honesty, integrity, passion and brilliance led to the most successful period of Giants baseball in the history of our franchise. He will always be a Giant and we look forward to honoring him and all of his achievements throughout his final season in San Francisco and inevitably in Cooperstown." Giants Gold Glove shortstop Brandon Crawford considers himself fortunate to have played for the same manager his entire career. "That's definitely special. I don't think many guys have one manager throughout their entire career," Crawford said. "Obviously we have this year to take care of first. Hopefully we make it a memorable one for him. A part of what's made him such a good manager over the years is just being able to work with the players he has, whether that's the bullpen or the bench, he always seemed to plug the right pieces at the right times." Bochy has faced daily questions about his future, and he wanted to address his plans now and avoid distractions later in the season when he hopes to have a contender again following two years out of the playoffs. He intends to stay in baseball. "It's something I put a lot of thought in it," Bochy said. "There's a lot of things that I look forward to doing, but right now my head's at this moment, hey, I'm going to focus on getting this team ready. I look forward to one more shot, trust me, and us having a big year. I'm all in." He spent his first 12 seasons as a manager with the Padres from 1995-2006, guiding San Diego to the NL pennant in 1998. Bochy came to the decision over the winter, but had all but realized this would be his last year at the end of the 2018 season. He discussed it with family and the front office. Executive Brian Sabean was hardly surprised by his dear friend's decision, saying "that's a pretty elite and, as we all know, fast treadmill to now do this for 25 years." "Two different organizations, four trips to the World Series, you win three, that's pretty elite company," Sabean said. Once he's through, Bochy will stick to his simple life of fishing excursions and family. "I'm not going anywhere. I don't have any cruises planned, trust me, I don't plan on going up Mount Everest. Baseball, that's my life. I'll be around," Bochy said. "I don't have a bucket list. There's no hidden agenda in all this, trust me.".....»»

Category: sportsSource:  abscbnRelated News12 hr. 17 min. ago

BanKo Perlas Set to Keep the Ball Rolling in Vietnam, PVL Open Conference

Following their successful stint in the Premier Volleyball League (PVL) Reinforced Conference, the BanKo Perlas Spikers ride on the momentum as they prepare for the back-to-back competitions in PVL Season 2 Open Conference on September 22 and the upcoming Vin Lonh tournament in Vietnam on September 28 to October 3, 2018. The BanKo Perlas Spikers will face three Vietnamese teams and a squad from Thailand in the prestigious Vietnam tournament. The team’s participation in the conference is a strategic move to train them for the different leagues, particularly the PVL Open Conference. “Banko Perlas Spikers is a fairly new team, as the girls have been playing together for just two years. Their exposure to Vin Lonh Volleyball tournament is a great opportunity for the ladies to further hone their skills, individually and as a squad,” shared Charo Soriano, Team Manager of BanKo Perlas. “While this is an overseas competition and the teams that we will be up against are considered giants, at the end of the day, we will focus on the learning and experiences. More than winning, the team is concentrated on giving a good fight every game,” Soriano added. The ladies of BanKo Perlas Spikers gave a breakthrough performance in the PVL Reinforced Conference earlier this year; with an unbeaten streak in the quarterfinals round that earned them a spot in the Final Four. This incredible feat has fortified the trust and support of their fans. Before flying off to Vietnam, the team will face Iriga-Navy and PetroGazz at the Flying V Centre, San Juan City on Saturday and Sunday, respectively. The team will return on October 6 to continue playing against the PVL teams. When asked how their supporters come into play in the team’s performance, Soriano highlighted that without their fans rallying behind the team, it will not be possible to get where they are. She also shared that their supporters are the source of their strength and in return, the squad is committed to continuously inspire and reach out to them. The team’s mindset to put their supporters first was emphasized further through their partnership with BPI Direct BanKo (BanKo), the microfinance subsidiary of Bank of the Philippine Islands (BPI). Sponsoring a sports team is almost unheard of from the banking industry. BanKo, however, found the perfect marriage with the PVL third placer, who constantly get in touch with the grassroots to promote the sport. “We are a happy partner of the Banko Perlas Spikers. Their skills are undeniable, but what sets them apart is their heart to reach out to fans nationwide, even to those who barely have access to their matches. This is well aligned with BanKo’s vision to make financial services more accessible to everyone,” stated BanKo president Jerome Minglana. “As they compete on Vietnamese courts representing our country, regardless of the outcome, it will only ignite and empower the team's loyal supporters and boost the local Volleyball further.  BanKo is equally excited to witness this exciting journey unfold,” Minglana concluded.  .....»»

Category: sportsSource:  abscbnRelated NewsSep 19th, 2018

Philippines raises $1.39 billion from samurai bonds

The government yesterday successfully sold ¥154.2 billion ($1.39 billion) worth of Japanese samurai bonds in three different tenors, according to the Department of Finance......»»

Category: financeSource:  philstarRelated NewsAug 8th, 2018

Meet the 2018 World Cup All-Pogi Starting XI

The members of the World Cup All-Pogi Starting XI are not necessarily the starters in their respective teams.  This is a different kind of Starting XI. The kind that makes viewers want to stay plastered to their screens not just for the goals, but for those brief moments of close-ups that make the wait worth it. Our Pogi Starting XI follows the classic 4-4-2 formation. These fine fellas bring the “beautiful” to the beautiful game. Here we go.   GOALKEEPER Alphonse Areola, FRA   🇫🇷🆚🇵🇪 📍Ekaterinburg Arena 🕔 17h @equipedefrance #FRAPER #fiersdetrebleus A post shared by Alphonse Areola (@areolaofficiel) on Jun 21, 2018 at 12:19am PDT He may be the third choice keeper for Les Bleus but this 25-year-old, 6’3” Frenchman born to Filipino parents is definitely first in our hearts.   DEFENDER Gerard Pique, ESP   Focus A post shared by Gerard Piqué (@3gerardpique) on Dec 4, 2017 at 10:45am PST If Shakira thinks he’s hot, who are we to say otherwise?   William Ekong, NGA   End of a good camp with the @ng_supereagles. We keep working and improving. Thanks everyone for your support 🇳🇬🦅🙏🏽 A post shared by William Troost-Ekong (@wtroostekong) on Mar 28, 2018 at 8:32am PDT Ekong has Dutch and Nigerian ancestry and the 6’3” centre back’s fine mix of physical attributes from both sides of his family tree is more than evident.   Ramin Rezaeaian, IRN   ٨٠ ميليون نفر،يك ملت،يك ضربان قلب.. همه براي تيم ملي ايران ❤️🇮🇷🇮🇷🙏 80 milion people, One Nation, One Heart Beat.. Iran ❤️🇮🇷🙏i A post shared by Ramin Rezaeian (@raminrezaeian) on Jun 11, 2018 at 11:07am PDT Mr Rezaeaian owns the Derek Zoolander-approved Blue Steel 100%, and then some.    Gotoku Sakai, JPN   新しいスパイクを履いていいトレーニングできてます👍 #HereToCreate #X18 #スプリントスパイク #createdwithadidas A post shared by GotokuSakai_official (@sakai_go1123) on Jun 6, 2018 at 5:31am PDT Describing Gotoku-san as kawaii doesn’t even cut it. He’s an American-born Japanese right back and he definitely stands out among the Blue Samurai.   MIDFIELDER Isco, ESP   2️⃣2️⃣🇪🇸😍 A post shared by Isco Alarcon Suarez (@iscoalarcon) on Jun 8, 2018 at 11:07am PDT Isco, full name Francisco Roman Alarcón Suárez, rocks the millennial beard like it’s nobody’s business.    James Rodriguez, COL   El mejor café del mundo 🇨🇴✌🏼 A post shared by James Rodríguez (@jamesrodriguez10) on May 24, 2018 at 3:39pm PDT James Rodriguez? More like James Reid. James is your college crush that never seems to age. Andre Silva, POR   É sempre uma honra ter a oportunidade de representar @portugal! Unidos lutaremos pelo nosso objectivo #ConquistaOSonho A post shared by André Silva (@andresilva9) on May 17, 2018 at 1:32pm PDT Boyish good looks? Check. Eyebrows to die for? Check. Until you see his pool-side photos on Instagram. Who you calling a boy?   Makoto Hasebe, JPN   MHSC (Makoto Hasebe Sports Club) 一昨日は藤枝校と浜松校の交流戦を行いました。開校以来、子どもたちの成長するスピードに驚いています。そして子どもたちが楽しんでいる姿が何よりも嬉しいです。特別講義を傾聴する子どもたちのキラキラした目をみて改めて頑張ろうと思えた素晴らしい時間でした。 #mhsc #fujieda #hamamatsu #藤枝 #浜松 #藤枝総合運動公園サッカー場 #素晴らしい環境 #来年度の新しい校舎開校に向けて生徒もコーチングスタッフも募集しています #puma #長谷部誠 A post shared by 長谷部誠 Makoto Hasebe (@makoto_hasebe_official) on Dec 25, 2017 at 2:14pm PST That smile alone can net him a starring role in a Japanese telenovela   FORWARD Cristiano Ronaldo, POR   Parabéns meu querido filho! Estas a ficar um homem!👏🏽8️⃣🎂❤️ A post shared by Cristiano Ronaldo (@cristiano) on Jun 17, 2018 at 2:38am PDT A virtual lock not only for the Pogi Starting XI but also for the Pogi Hall of Fame.   Radamel Falcao, COL   Vamos a defender esta camiseta con el 💯 % de nuestras fuerzas, energías y capacidad. 🇨🇴 // we are going to fight for this colors with all our energy, strength and ability. A post shared by Falcao (@falcao) on Jun 13, 2018 at 2:40pm PDT He chopped off his lustrous locks for a trendy ‘short at the sides and longer at the top’ cut and the transformation is akin to Jon Bon Jovi shedding the glam-rock hair in the 90’s. Or long hair, short hair, we don’t care.   MANAGER Herve Renard - MAR Monsieur cuts a dashing figure in the touchline with his sun-kissed locks and striking blue gaze. Reminds one of an old-school Hollywood movie star, a classic European playboy or a striking yet dangerous Bond villain. Catch the 2018 FIFA World Cup Russia™ on S+A, S+A HD, LIGA, LIGA HD and via livestream......»»

Category: sportsSource:  abscbnRelated NewsJun 21st, 2018

Top Japanese banks express support of Philippine “samurai bonds” following DoF meeting

TOP JAPANESE BANKS have expressed their interest in participating in the Philippines’ return to the yen debt market following their meeting with the Finance department in Tokyo. In a statement sent to journalists yesterday, the Department of Finance (DoF) said that Finance Secretary Carlos G. Dominguez III met with officials of Daiwa Securities Group Inc., […] The post Top Japanese banks express support of Philippine “samurai bonds” following DoF meeting appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJun 20th, 2018

Courting Japan: Manila set on $1-billion samurai bonds

In Photo: Finance Secretary Carlos G. Dominguez III delivers a speech during the Philippine Economic Briefing in Tokyo, Japan, on June 19. The event was attended by about 600 investors, Japanese go.....»»

Category: newsSource:  manilanewsRelated NewsJun 20th, 2018

2018 WORLD CUP: Coaching change shakes Japan preparations

By John Duerden, Associated Press Akira Nishino was given only two months to prepare Japan for the World Cup after the sudden dismissal of Vahid Halilhodzic. The hastily-appointed coach had the task of addressing the trust and communication issues swirling around the team. While Halilhodzic secured qualification for Russia with a game to spare, Japan was not always convincing. Halilhodzic, who led Algeria to the second round at the 2014 World Cup, tried to turn a Japanese team with a fluid passing tradition into a counterattacking unit. He also dropped the three leading players at times: Keisuke Honda, Shinji Kagawa and Shinji Okazaki. By the time Halilhodzic was dismissed in April, the Samurai Blue had won only three of their last 10 games and the federation feared there would be a repeat of the 2014 World Cup when they collected one point. "Even if it only increases the chances of winning at the World Cup by 1 or 2 percent, we had to act," Japanese federation president Kozo Tashima said. Here's a closer look at the Japan team: COACH Considered a safe pair of hands, the 63-year-old Nishino has the Japan job until the end of the World Cup. In the previous decade, he led Gamba Osaka to success with a first domestic title in 2005 and won the Asian Champions League three years later on the back of an attractive and fluid passing game. Nishino had been working on the Japan Football Association technical committee when he was handed a first coaching job since 2015. GOALKEEPERS Eiji Kawashima, who played at the 2010 and 2014 World Cups and is now 35, is likely to start in goal in Russia. He has spent recent years playing for clubs in Belgium, France and Scotland. Shusaku Nishikawa is the other experienced goalkeeper, while Kosuke Nakamura is a third option. DEFENDERS Marseille defender Hiroki Sakai is one of Asia's top right backs, while Yuto Nagatomo, who has been playing at Galatasaray, is set to start on the left. Expect to see Maya Yoshida of Southampton in central defense but the place alongside him is up for grabs. MIDFIELDERS Makoto Hasebe is the midfield general who offers authority and coolness after a decade in the Bundesliga at Wolfsburg, Nuremberg and Eintracht Frankfurt. The captain likes to sit in front of the back four, often alongside Hotaru Yamaguchi, to dictate play and build passing moves. FORWARDS Honda hasn't scored for Japan in two years but is still likely to lead the attack. Kagawa has struggled for national form but has a greater chance of playing under the new coach, while Okazaki, who won the Premier League title with Leicester, may get the nod to make the starting lineup. GROUP GAMES Japan won't play any Group H games in Kazan, where it has its training base. After opening against Colombia in Saransk on June 19, the team travels to Yekaterinburg to play Senegal on June 24 and then faces Poland in Volgograd on June 28......»»

Category: sportsSource:  abscbnRelated NewsMay 2nd, 2018

Gov’t eyes samurai bond offer by 2nd half

THE Duterte government is looking to issue its first yen-denominated bonds by September or October, the Department of Finance (DoF) said. “We will still go ahead with the samurai (bonds)… Because the Japanese calendar is different, it should be around September or October, the latter half of the (Japanese) fiscal year ending March,” Finance Secretary […] The post Gov’t eyes samurai bond offer by 2nd half appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMay 1st, 2018

Wenger to leave Arsenal after more than 21 years in charge

By Rob Harris, Associated Press LONDON (AP) — Arsene Wenger is leaving Arsenal after more than 21 years, ending a revolutionary reign that saw him introduce new methods to the Premier League and become the club's most successful manager. While the 68-year-old Frenchman was able to announce his own departure plans on Friday, the tenure of English soccer's longest-serving manager will finish at the end of the season against a backdrop of mounting dissent as the London club's competitiveness in the Premier League has waned. Arsenal has failed to win the Premier League since 2004, but that feat represented the highpoint of Wenger's career as he became only the second manager to go through an English league season unbeaten. The "Invincibles" season, his third Premier League title, helped shield Wenger against the critics. But Wenger's power appeared to drain over the last year as executives trying to shape the future direction of the team were brought in. The new two-year contract that Wenger signed after winning the FA Cup for a record seventh time last May will now not be completed. "After careful consideration and following discussions with the club, I feel it is the right time for me to step down at the end of the season," Wenger said. "I am grateful for having had the privilege to serve the club for so many memorable years. I managed the club with full commitment and integrity. "I urge our fans to stand behind the team to finish on a high. To all the Arsenal lovers take care of the values of the club. My love and support for ever." Even though Arsenal is sixth in the Premier League, there can still be a successful conclusion to the season with the team in contention for the Europa League. Arsenal's appearance in the competition, though, is a sign of the recent demise under Wenger. Arsenal became accustomed to qualifying for the Champions League before missing out for the first time in two decades after finishing fifth last season. Winning the Europa League is now Arsenal's only realistic way of Wenger bequeathing his successor a place next season in the more illustrious Champions League. With Wenger's footprints all over the Emirates Stadium, finding a coach to step into the dugout after a dynastic reign is a challenge. Arsenal owner Stan Kroenke only has to look at the problems that have afflicted Manchester United since Alex Ferguson retired in 2013 after more than 26 years in charge. United is on its third manger since Ferguson left after winning a record-extending 20th English title and has not finished higher than fourth. Among the early contenders to succeed Wenger are two Germans: Thomas Tuchel, who left Borussia Dortmund last year, and Germany coach Joachim Loew. A popular appointment among Arsenal fans could be Patrick Vieira, who has been gaining coaching experience in Major League Soccer at New York City FC. The midfielder was one of Wenger's first signings in 1996 and featured in all three Premier League title-winning sides. Wenger took over in October 1996 as Arsenal's first foreign manager on the back of successes at Monaco and a stint in charge of Japanese club Grampus Eight. He was a relative unknown but quickly gained respect for helping to modernize English soccer in the early years of the Premier League, eradicating Arsenal's drinking culture and introducing new sports science methods. Adding Vieira and French players Nicolas Anelka, Emmanuel Petit and Thierry Henry helped to establish Arsenal as an English soccer power until Wenger was shackled by the financial constraints of the move from Highbury into the new Emirates Stadium in 2006. It coincided with the rise of foreign investment in rival clubs, with Russian billionaire Roman Abramovich transforming Chelsea and Abu Dhabi's Sheikh Mansour raising the stakes by lavishing even more cash on players at Manchester City. While Arsenal was taken over by Kroenke in 2011, the American sports tycoon operated in a parsimonious financial environment that irritated many supporters. Now Kroenke, who told The Associated Press in 2016 that he was "very high on Arsene," has the tough task of replacing Wenger. "This is one of the most difficult days we have ever had in all our years in sport," Kroenke said. "One of the main reasons we got involved with Arsenal was because of what Arsene has brought to the club on and off the pitch. His longevity and consistency over such a sustained period at the highest level of the game will never be matched. "Arsene has unparalleled class and we will always be grateful to him. Everyone who loves Arsenal and everyone who loves football owes him a debt of gratitude." Arsenal said it will make an appointment "as soon as possible." "We have high ambitions to build on Arsene's remarkable tenure and to honor his vision by ensuring that Arsenal competes for and wins the biggest and most important prizes in the game," Kroenke said. "We must now focus on making a strong finish to the season and ask our millions of fans around the world to join us in paying appropriate tribute to one of the greats of Arsenal's history and one of the greats of the game."  .....»»

Category: sportsSource:  abscbnRelated NewsApr 20th, 2018

Six standout local volleybelles of 2017

We’ve seen them shine this year whether in the collegiate stage, in the club leagues or even in the international scene. These six Pinay volleyball players took the sport’s limelight in the year that’s about to end.     DESIREE CHENG Desiree Cheng came into De La Salle University during the time bitter rival Ateneo de Manila University got the Lady Spikers’ number. From Seasons 76 to 77, Cheng saw her team fall prey to the might of the Lady Eagles in the UAAP Finals. Then redemption came in Season 78. Unfortunately, the 5-foot-8 spiker was forced to watch from the sidelines with an ACL tear as her crew reclaimed the crown. A year after, Cheng got her biggest break. DLSU lost most of its veteran core after Season 78 and needed another scoring option. Cheng heeded the call. Though Cheng struggled at the start of the eliminations, the hitter slowly got her groove back and delivered when DLSU needed offense in their sixth straight championship showdown against Ateneo. Cheng was the X-factor for the Ramil De Jesus-mentored squad during the series. Her contributions both on offense and floor defense played a huge part in the Lady Spikers’ series sweep of the Lady Eagles for the school’s 10th title. Cheng also helped F2 Logistics claim the Cargo Movers’ breakthrough Philippine Superliga Grand Prix title and a runner-up finish in the All-Filipino Conference.   ALYSSA VALDEZ Although Alyssa Valdez failed to claim a crown in the Premier Volleyball League this year and a continued title drought since 2016, the Phenom’s magic remains. She can still fill up game venues whenever she takes the court and 2017 proved as the former Queen Eagles’ biggest year in terms of her flourishing volleyball career. Valdez brought her talents abroad, landing a stint with 3BB Nakornnont in the Thai League and in the Thai-Denmark Superleague where her team finished third in both tournaments. After her appearance in Thailand, Valdez donned the Creamline jersey and led the Rebisco franchise to a bronze medal finish both in the PVL Reinforced and Open conferences. Valdez also had another tour of duty, playing for the national team in the AVC Asian Women’s Senior Volleyball Championship and the 29th Southeast Asian Games in Kuala Lumpur, Malaysia. The 24-year old hitter got another international gig when she was tapped by Attack Line to play in the Chinese-Taipei Volleyball League.          Outside volleyball, Valdez has a blooming relationship with basketball star Kiefer Ravena. If she’s not busy with her volleyball and other commitments, Valdez also drew attention as one of the newest member of the so-called PBA players’ WAGS (wives and girlfriends) cheering for Ravena and the NLEX Road Warriors.      DAWN MACANDILI She may be only 5-foot tall but Dawn Macandili stood alongside Asia’s volleyball giants this year. The De La Salle University libero was the catalyst in the Lady Spikers’ back-to-back UAAP championship run. Her pesky floor defense frustrated DLSU’s rivals while giving her teammates a good first ball to operate their lethal offense.  But her biggest showing was when she landed a spot in the national team that competed in the AVC Asian Senior Women’s Volleyball Championship and in the Kuala Lumpur SEA Games. A first-timer donning the national colors, Macandili did not disappoint as she earned the respect and admiration of Japanese coaches and trainers during the Nationals’ training camp in Japan. She performed even better when the PHI hosted the AVC Asian Seniors. Ms. Everywhere gave teams like Asian powerhouse Vietnam, Kazakhstan, South Korea and Thailand a hard time with her floor defense. All her efforts caught the eyes of the AVC tournament officials and she was rewarded with the historic 2nd Best Libero award. She made the final list of in the national team that participated in the SEA Games. Back in the local scene, Macandili helped F2 Logistics to runner-up finish in the PSL All-Filipino Conference and a breakthrough crown in the Grand Prix.    JAJA SANTIAGO Tall, powerful and versatile, Jaja Santiago is a force to reckon with.  At 6-foot-5, Santiago dominated the Premier Volleyball League Collegiate Conference as she led the National University Lady Bulldogs to a perfect championship run. She also bagged the conference’s Most Valuable Player award. Though NU failed to make it in the Final Four of UAAP for the second straight year, Santiago’s effort for the Lady Bulldogs was rewarded with a third straight Best Attacker award to go with the Best Scorer and Best Blocker recognitions. In the PSL, Santiago was a consistent scorer for the Foton Tornadoes in the All-Filipino Conference and the Grand Prix. Under the tutelage of Serbian import Moro Branislav, Santiago became an even more dangerous and versatile player. Aside from her natural position as a middle blocker, she can now wreak havoc on both wings the puts her height advantage to good use. She made it into the national team that competed in the AVC Asian Seniors and SEA Games and was the Nationals’ scoring ace. Santiago received an offer from Thai powerhouse Bangkok Glass but declined the offer to play in her last year with the Lady Bulldogs.             KIM FAJARDO Setter Kim Fajardo left winning legacy when she played her swan song for DLSU. It took her a few months to decide to play her fifth year with the Lady Spikers. Leading a young crew after the departure of the core of the Season 78 championship squad, Fajardo faced a tough challenge in the Taft-based squad’s title-retention bid. But the Batanguena proved her worth as a leader and the skipper rallied the Lady Spikers back into the Finals in a sixth straight collision against bitter rival Ateneo. Fajardo’s composure carried DLSU in a tough Game 1 match and again in the five-set title-clincher to complete the Lady Spikers’ series sweep of the Lady Eagles. She earned a spot in the national team as a starting setter. Fajardo steered F2 Logistics to its first PSL Grand Prix crown bagged the conference’s Best Setter award. She helped the Cargo Movers to a runner-up finish in the All-Filipino Conference.     JOVIELYN PRADO Silent but deadly. Jovielyn Prado may not be the typical vocal leader but her presence inside the court is enough to rally the Arellano University Lady Chiefs to meet their goals. The outside hitter proved her worth to the Lady Chiefs when she led the Legarda-based squad back on the NCAA women’s volleyball throne. A year removed from the title, Arellano U turned to Prado to provide the spark the Lady Chiefs needed to make another shot at the crown. Consistent, efficient and effective, Prado delivered for the Obet Javier-mentored squad. Arellano U advanced in the stepladder semifinals and dethroned College of St. Benilde to set up a date with thrice-to-beat, three-time Most Valuable Player Grethcel Soltones-led San Sebastian College. Undaunted even with a great series disadvantage, Prado played her best three games of the season to power the Lady Chiefs to an impressive sweep of the Lady Stags. Prado continued her great performance in the PVL Reinforced and Open Conference playing for the Power Smashers. She then bannered the Lady Chiefs to a bronze medal finish in the Collegiate Conference at the expense of UAAP team Adamson University.   --- Follow this writer on Twitter, @fromtheriles   .....»»

Category: sportsSource:  abscbnRelated NewsDec 28th, 2017

As Olympics near, South Korea agonizes over post-Games costs

By Kim Tong-Hyung, Associated Press GANGNEUNG, South Korea (AP) — South Korean officials have ruled out turning a state-of-the-art Olympic skating arena into a giant seafood freezer. Other than that, not much is certain about the country's post-Winter Games plans for a host of expensive venues. As officials prepare for the games in and around the small mountain town of Pyeongchang, there are lingering worries over the huge financial burden facing one of the nation's poorest regions. Local officials hope that the Games will provide a badly needed economic boost by marking the area as a world-class tourist destination. But past experience shows that hosts who justified their Olympics with expectations of financial windfalls were often left deeply disappointed when the fanfare ended. This isn't lost on Gangwon province, which governs Pyeongchang and nearby Gangneung, a seaside city that will host Olympic skating and hockey events. Officials there are trying hard to persuade the national government to pay to maintain new stadiums that will have little use once the athletes leave. Seoul, however, is so far balking at the idea. The Olympics, which begin Feb. 9, will cost South Korea about 14 trillion won ($12.9 billion), much more than the 8 to 9 trillion won ($7 to 8 billion) the country projected as the overall cost when Pyeongchang won the bid in 2011. Worries over costs have cast a shadow over the games among residents long frustrated with what they say were decades of neglect in a region that doesn't have much going on other than domestic tourism and fisheries. "What good will a nicely managed global event really do for residents when we are struggling so much to make ends meet?" said Lee Do-sung, a Gangneung restaurant owner. "What will the games even leave? Maybe only debt." ___ TEARING THINGS DOWN The atmosphere was starkly different three decades ago when grand preparations for the 1988 Seoul Summer Games essentially shaped the capital into the modern metropolis it is today. A massive sports complex and huge public parks emerged alongside the city's Han River. Next came new highways, bridges and subway lines. Forests of high-rise buildings rose above the bulldozed ruins of old commercial districts and slums. The legacy of the country's second Olympics will be less clear. In a country that cares much less now about the recognition that large sporting events bring, it will potentially be remembered more for things dismantled than built. Pyeongchang's picturesque Olympic Stadium — a pentagonal 35,000-seat arena that sits in a county of 40,000 people — will only be used for the opening and closing ceremonies of the Olympics and Paralympics before workers tear it down. A scenic downhill course in nearby Jeongseon will also be demolished after the games to restore the area to its natural state. Fierce criticism by environmentalists over the venue being built on a pristine forest sacred to locals caused construction delays that nearly forced pre-Olympic test events to be postponed. Gangwon officials want the national government to share costs for rebuilding the forest, which could be as much as 102 billion won ($95 million). ___ NO FISH Despite more than a decade of planning, Gangwon remains unsure what to do with the Olympic facilities it will keep. Winter sports facilities are often harder to maintain than summer ones because of the higher costs for maintaining ice and snow and the usually smaller number of people they attract. That's especially true in South Korea, which doesn't have a strong winter sports culture. Not all ideas are welcome. Gangwon officials say they never seriously considered a proposal to convert the 8,000-seat Gangneung Oval, the Olympic speed skating venue, into a refrigerated warehouse for seafood. Officials were unwilling to have frozen fish as part of their Olympic legacy. Gangwon officials also dismissed a theme park developer's suggestion to make the stadium a gambling venue where people place bets on skating races, citing the country's strict laws and largely negative view of gambling. A plan to have the 10,000-capacity Gangneung Hockey Center host a corporate league hockey team fell apart. Even worse off are Pyeongchang's bobsleigh track, ski jump hill and the biathlon and cross-country skiing venues, which were built for sports South Koreans are largely uninterested in. After its final inspection visit in August, the International Olympic Committee warned Pyeongchang's organizers that they risked creating white elephants from Olympic venues, though it didn't offer specific suggestions for what to do differently. Cautionary tales come from Athens, which was left with a slew of abandoned stadiums after the 2004 Summer Games that some say contributed to Greece's financial meltdown and Nagano, the Japanese town that never got the tourism bump it expected after spending an estimated $10.5 billion for the 1998 Winter Games. Some Olympic venues have proved to be too costly to maintain. The $100 million luge and bobsled track built in Turin for the 2006 games was later dismantled because of high operating costs. Pyeongchang will be only the second Olympic host to dismantle its ceremonial Olympic Stadium immediately after the games — the 1992 Winter Olympics host Albertville did so as well. ___ 'MONEY-DRINKING HIPPOS' Gangwon has demanded that the national government in Seoul pay for maintaining at least four Olympic facilities after the Games — the speed skating arena, hockey center, bobsleigh track and ski jump hill. This would save the province about 6 billion won ($5.5 million) a year, according to Park Cheol-sin, a Gangwon official. But the national government says doing so would be unfair to other South Korean cities that struggled financially after hosting large sports events. Incheon, the indebted 2014 Asian Games host, has a slew of unused stadiums now mocked as "money-drinking hippos." It would also be a hard sell to taxpayers outside of Gangwon, said Lee Jae-soon, an official from the Ministry of Culture, Sports and Tourism. Unlike the 1988 Olympics and the 2002 World Cup, which were brought to South Korea after bids driven by the national government, the provincial government led the bid for the Pyeongchang games and it did so without any commitment from Seoul over footing the bill. Under current plans, Gangwon will be managing at least six Olympic facilities after the games. These facilities will create a 9.2 billion won ($8.5 million) deficit for the province every year, a sizable burden for a quickly-aging region that had the lowest income level among South Korean provinces in 2013, according to the Korea Industrial Strategy Institute, which was commissioned by Gangwon to analyze costs. Hong Jin-won, a Gangneung resident and activist who has been monitoring Olympic preparations for years, said the real deficit could be even bigger. The institute's calculation is based on assumptions that each facility would generate at least moderate levels of income, which Hong says is no sure thing. He said that could mean welfare spending gets slashed to help make up the lack of money. South Korea, a rapidly-aging country with a worsening job market and widening rich-poor gap, has by far the highest elderly poverty rate among rich nations, according to Organization for Economic Cooperation and Development figures. If Seoul doesn't pay for the Olympic facilities, and Gangwon can't turn them into cultural or leisure facilities, it might make more sense for Gangwon to just tear them down. Park said the national government must step up because the "Olympics are a national event, not a Gangwon event.".....»»

Category: sportsSource:  abscbnRelated NewsDec 15th, 2017

Tale of 2 cities: Olympics sponsors in Pyeongchang and Tokyo

em>By Youkyung Lee and Mari Yamaguchi, Associated Press /em> SEOUL, South Korea (AP) — The Winter Olympics coming to South Korea in February offer an example of the Olympian efforts often required to meet corporate sponsorship goals. Tokyo tells a different story: The coffers are already overflowing for the 2020 Summer Games. It's a tale of two cities and two Olympics — winter and summer. Pyeongchang is a little-known destination in one of South Korea's poorest provinces. It is the 'little town that could,' bidding twice unsuccessfully for the Winter Olympics before winning on its third try. A final push enabled it to reach its sponsorship target of 940 billion won ($830 million) in September, with just five months to go. Tokyo is an established global capital, and the Summer Games usually generate more excitement — and more money. Organizers have raised 300 billion yen ($2.7 billion) in sponsorship, twice any previous Olympics. International Olympic Committee Vice President John Coates describes it as a remarkable achievement. The divergent experiences of two Asian host cities illustrate the challenges that smaller bidders face, as well as South Korea's dependence on the big family-owned companies that dominate its economy. Not that Tokyo is home-free. The cost of the 2020 Games has nearly doubled from initial projections. As with most Olympics, taxpayers will have to foot a good part of the bill. ___ strong>WHERE 'CHAEBOLS' RULE /strong> Starting with the 1988 Seoul Olympics, South Korea has used mega-events such as the soccer World Cup to raise the profile of the country and its manufacturing exporters. Pyeongchang is different. The project was initiated by local politicians in an area long alienated politically and economically in South Korea's rise to prosperity. Some feared people would confuse the city's name with Pyongyang, the North Korean capital. They couldn't count on the automatic support of the huge family-run conglomerates, known as 'chaebol,' such as Samsung, Hyundai and LG. 'When such mega-events were the nation-state's key project, the chaebol were called on and were expected to become the leading participants,' said Joo Yu-min, a professor at the National University of Singapore who co-authored a book on South Korea's use of mega-events. In the end, the national government brought the conglomerates in, first in the bid process, and then for sponsorship. That underscores both the outsized role they play in the economy and their close ties with government. They owe a debt to special treatment from the government, which in turn used them to industrialize the country after the devastating 1950-53 Korean War. After Pyeongchang's bid was rejected a second time, the government called on Samsung and others to help. The president even pardoned Lee Kun-hee, the patriarch of the Samsung founding family who had been an IOC member but voluntarily suspended his membership after being indicted for tax evasion. The IOC reinstated Lee in 2010 with a reprimand and some restrictions, allowing him to lobby heavily for what became Pyeongchang's winning bid in 2011. It took three years for the organizing committee to sign its first domestic sponsor, KT Corp., the country's second-largest mobile carrier. Again, the national government asked the conglomerates for help. All the major ones signed on, after the office of then-President Park Geun-hye made a special request and multichannel pressures for financial assistance, Joo said. Elsewhere, companies may weigh sponsorship decisions based more on the marketing benefits. 'In South Korea, companies make donations out of a sense of duty that they are being part of the national event,' said Park Dong Min, the executive director overseeing membership at the Korea Chamber of Commerce and Industry. Sponsors who signed up late weren't willing to give as much, because there was less time to enjoy the marketing benefits. A bank that signed on less than a year before the Games significantly reduced its sponsorship. To top it off, a massive sports-related political corruption scandal rocked South Korea in 2016, just when Pyeongchang was making last-ditch efforts to raise sponsorship. 'Companies showed some reluctance' to sponsor the Olympics, said Eom Chanwang, director of the Pyeongchang organizing committee marketing team. 'Nevertheless, they still joined.' The scandal brought down Park, the president. Lee Jae-yong, the heir to the Samsung group, received a five-year sentence for bribery. Lee, who has appealed, had become de facto chief of the Samsung group after his father Lee Kun-hee, the IOC member pardoned in late 2009, fell ill. It was the younger Lee who signed an agreement with IOC President Thomas Bach to extend Samsung Electronics' sponsorship of the Olympics globally through 2020. Samsung declined interviews for this story. With the scandal still fresh in people's minds, major companies have held back from launching full-fledged marketing to promote the Games. 'Samsung traditionally has done consumer marketing through the Olympics, but because its chief is in jail, it cannot do as much these days,' said Kim Do-kyun, a sports professor at Kyung Hee University Graduate School of Physical Education. The Pyeongchang Games were the biggest victim of the scandal, he said. ___ strong>SUMMER OF '64 /strong> The president of Japan's biggest toilet manufacturer was seven years old when the Olympics first came to Japan. TOTO Ltd. made news in 1964 for its prefabricated toilet-and-bath units that helped speed the construction of a luxury hotel, the New Otani, in time for the Games. The company, now known for high-tech toilets that baffle some foreign visitors, is back as a sponsor of Tokyo 2020. 'I feel our company and the Olympics have been bonded by fate,' TOTO president Madoka Kitamura said at a sponsorship signing ceremony at the same hotel last year. The $2.7 billion in sponsorship for Tokyo 2020 is more than three times the original estimate. By comparison, sponsorship revenue was $848 million in Rio de Janeiro last year, and about $1.2 billion for both London 2012 and Beijing 2008. The Winter Olympics typically attract less, though Sochi, Russia, raised $1.2 billion in 2014. Analysts attribute Tokyo's success to both patriotism and a sense of nostalgia for the 1964 Summer Games. They were much more than a sports contest for Japan. They were a moment of pride, marking the country's return as an industrial power after the devastation of World War II and a seven-year U.S. occupation. 'All of Japan still recognizes the unique role that the 1964 Olympics played in Japan's stepping out onto the world stage,' said Michael Payne, a former IOC marketing director who now works as a consultant. 'Many of the CEOs of top Japanese companies would have been young kids back in '64 and are very aware of the role those Games played for the psychological recovery from the Second World War.' They grew up with the high-speed 'Shinkansen' bullet train, inaugurated in 1964; modern expressways and western-style toilets, all symbols of Japan's postwar economic growth. 'Now they have become business leaders, they want to contribute and leave something behind that can be remembered for the next 50 years,' said Masahiko Sakamaki, executive director of marketing for the Tokyo organizing committee. He said that memories of the recovery may have boosted interest in sponsorship, as Japan was still reeling from a deadly 2011 earthquake and tsunami when Tokyo won the bid in 2013. Sakamaki said the organizing committee started receiving sponsorship inquiries as soon as it was established in 2014, before the official start of sponsorship contracts in 2015. There is so much interest that the IOC is allowing Tokyo to have multiple sponsors in some categories, instead of the usual one, including in aviation, newspaper publishing, electronics and banking. TOTO officials won't say how much they are contributing, but media reports say companies in its sponsorship category give between 6 billion and 15 billion yen ($53 million to $133.5 million). Tokyo 2020 wouldn't comment on those reports. 'We believe our presence as part of an all-Japan effort toward a successful Olympics will enhance our favorable brand image,' said Mariko Shibasaki, the company's senior planner for sports communication. Thanks in part to robust sponsorship revenue, the organizing committee has increased its contribution to the cost of the games from 500 billion to 600 billion yen ($5.3 billion). The sponsorship revenue makes up half of the income in the privately-run organizing committee's operating budget. Other revenue comes from the International Olympic Committee, marketing and ticket sales. The overall cost of the Tokyo Olympics is estimated at 1.4 trillion yen (12.4 billion) with the Tokyo government shouldering 600 billion yen ($5.3 billion) and the remaining 200 billion yen (1.8 billion) paid by the national government and local governments hosting events. ___ em>Yamaguchi reported from Tokyo. Associated Press writer Stephen Wade in Rio de Janeiro contributed to this story. /em> .....»»

Category: sportsSource:  abscbnRelated NewsOct 12th, 2017

Jordan s weight reaches farther than court in NC

By Steve Aschburner, NBA.com CHARLOTTE -- Unlike Mark Cuban and James Dolan, the host of the 2019 NBA All-Star Game was voted in 14 times to participate and played in 13. Quite different from Micky Arison and Glen Taylor, the team owner whose arena and city will be the center of All-Star 2019 averaged 20.2 points in those 13 All-Star appearances, was named MVP three times and posted the first triple-double in the game’s history (1997). And not at all like Steve Ballmer and Joe Lacob, the guy most often credited with making Charlotte All-Star worthy this weekend ignited the annual Slam Dunk Contest with his takeoff from the foul line in 1988. He also regularly irritated former NBA commissioner David Stern into a series of fines for golfing when he should have been sitting through mandatory Friday media sessions. With a level of celebrity as arguably the game’s greatest player ever, morphed now into an off-radar role as owner of the Charlotte Hornets, Michael Jordan remains as famous, as popular and as successful as any or all the active All-Star participants who’ll cavort at the Spectrum Center in the city’s Uptown business district. Ain’t no other NBA owner who can say that. “You think about all these wealthy, successful owners in our league,” said Hornets president Fred Whitfield, “no one knew who any of them were, really, until they bought their team. Everybody in the world knew who Michael Jordan was before he bought his team.” Jordan’s place in the All-Star galaxy in the coming days is reflective of his unique position among those who oversee the NBA’s 29 other franchises. His impact on the team, on its fans, on their city and on the state in returning to his native North Carolina -- he grew up in coastal Wilmington before attending college in Chapel Hill -- to anchor and lend stability to the Hornets will be on full display, even if he’s hard to spot this weekend. It’s all a reminder, too, of the old movie line from a remarkably blessed character, wondering “What do you do when your real life exceeds your dreams?” Most don’t dare to imagine playing in an All-Star Game, never mind hosting one as the owner of the local team. “No,” Jordan told some Charlotte reporters Tuesday (Wednesday, PHL time), coming forward for one of his few appearances of the week. “As a kid growing up here in North Carolina, the first thing [was] playing basketball. And then things evolved from there -- from the University of North Carolina to Chicago. Obviously you know the history from that. “[The] opportunity to represent North Carolina in an All-Star Game from a different seat is truly amazing. It tells the path that I have taken. It gives me great pleasure to give that back to the community. It’s been a long-traveled road.” The celebration of the league’s brightest stars, and the ubiquitous banners and signage devoted to it will make it even harder than usual to visibly spot signs of Jordan’s ownership of the Hornets. For a typical regular season game, you might spy a flag emblazoned with his well-known “Jumpman” logo. Occasionally he’ll watch part of the game, rarely all, from seats at the end of his team’s bench, though he’s as likely to retreat to his suite atop the arena’s lower bowl. An in-game, timeout scoreboard video meant to stoke the crowd includes shots of GM Mitch Kupchak (“Architect of Champions”) and coach James Borrego (“Elite Pedigree”) but ends right about the time you expect some dramatic silhouette of His Airness to appear. It’s as if Jordan is as protective of his brand in running the Hornets as he is in maintaining its exclusivity in the marketplace. Doesn’t matter, though. His fingerprints are all over the franchise, as a basketball team, as a business enterprise and as a member of the community. On court, Jordan trusts his team Jordan’s greatest notoriety as an owner in a basketball setting may have come in December, when he was courtside for a tense game against Detroit. Guard Jeremy Lamb drained a 22-foot jumper with 0.3 seconds left, sending reserves Malik Monk and Bismack Biyombo onto the floor in celebration of what would be a 108-107 home victory. Trouble was, that sliver of time on the clock. Too many men. The Hornets were whistled for a one-shot technical foul and Jordan impulsively smacked Monk lightly, twice, on the back of the head. Any other owner does that, the player’s agent might file a grievance with the players union. Jordan does it and, thanks to his in-the-trenches, in-the-fraternity credibility, it comes across as a goof. “A tap of endearment,” Jordan called it later in a statement. “It was like a big brother and little brother tap. No negative intent. Only love!" Said Monk: “Big, big, big brother. But it was nothing. He was just playing.” The arc of Jordan’s career and his reputation as a stone-cold competitor make it OK if he wants to vent -- or swipe -- when things don’t go the Hornets’ way. Doesn’t matter that Jordan, who will turn 56 on All-Star Sunday, is old enough to be any of his players' dad. He still carries himself like an athlete, and their frame of reference remains, “That’s Mike.” “I’ve seen kids come up through camps,” said Buzz Peterson, Charlotte’s assistant general manager under Kupchak. “You could say Julius Erving, you could say Larry Johnson, Karl Malone, whatever, and the kids’ eyes are like, ‘Who?’ But you say Michael Jordan, they’re gonna know. That’s the separation there.” Peterson is among Jordan’s closest friends -- he beat him out as North Carolina’s prep player of the year in 1981, won an NCAA title with him as a Tar Heels teammate and is described by those who know both as someone who can disagree with the boss while staying comfortably in the inner circle. For Borrego, Charlotte’s first-year coach, interviewing to run Jordan’s team could have been intimidating. “We’re all human beings -- there’s a presence that comes with ‘Michael Jordan’ when he’s around,” Borrego told NBA.com in January. “But it’s healthy. He comes with a competitive spirit that you feel. “Michael was straight with me from Day 1. When I interviewed, he said, ‘I’m going to give you space to do your job. Whatever you need, you come to me. I’ll give you the resources you need.’ He has not tried to interfere one time. I feel his full support. … We’re starting to speak each other’s language, which is pretty healthy for us now.” Jordan keeps the coach apprised of his interactions with players, Borrego said. Other coaches should have such a resource at the ready. Hornets guard and 2019 All-Star starter Kemba Walker probably has benefited most from Jordan’s counsel. They text frequently, a pinch-me arrangement to this day for Walker. “I grew up wearing Jordans, grew up wanting to be like Jordan,” Walker said recently. “So for me to get this opportunity to be on his team means the world to me. He’s the one who believed in me -- I had no idea where I was going to go on draft night and he traded up for me. I’ve always heard the story, he was the one who actually drafted me. So it’s unbelievable. “He’s such a good dude. He understands what it is to be good. His delivery is always good. Only in a positive way, honestly.” Said rookie wing Miles Bridges: “You think there’ll be a lot of pressure having MJ as an owner. I’d seen how he got on his teammates when he played. So I was nervous, thinking if I had a bad game, he’d go at me like, ‘What’re you doing?’ But after meeting him and bonding with him, I feel like he’s the coolest owner out there. I don’t feel any pressure, I feel like he wants the best for us.” Big man Frank Kaminsky typically sits at the end of the bench, which puts him cheek to cheek with Jordan when he’s courtside. “He’s talking about what he’s seeing out on the court. Talking to the refs,” Kaminsky said. “Things other players don’t necessarily see. He still thinks the game. “You see things on the court that he sees. One game, the roll, pocket-pass, skip to the corner was open. He was saying that. We made an adjustment in a timeout, but he saw it a couple plays before that. At the end of that game, we had a big play that was a roll, pocket-pass, into the corner that put the game away. It worked the way he’d seen it.” The Hornets’ struggles during Jordan’s tenure as owner wouldn’t suggest it -- the last time this organization won a playoff series (2002), Jordan still was a player -- but there is a prestige to playing for his team. It’s not unlike being welcomed onto the list of elite athletes who endorse Jordan Brand. “I’m one of the lucky ones who’s in both,” Kaminsky said. “You’re talking about the most iconic player in sports history -- I might be biased because I grew up in Chicago -- but when you have his approval, it means a lot. You have it in the back of your mind that he wants you here.” Head smack or no head smack. Jordan grows as owner, businessman Basketball is a zero-sum game and the NBA is full of stars, even if none shines quite as brightly as Jordan. But business has room for negotiation and compromise, and deals get struck daily that leave both sides happy. There, Jordan has been beyond clutch. Funnel down everything he’s accomplished -- six NBA championships, the league’s highest career scoring average (30.1), five MVP awards, six Finals MVP, 10 scoring titles, nine All-Defensive team nods -- and it invariably ends with clammy hands. The “wow” factor is real and the Hornets are extremely careful about leveraging it. “It gives our organization a certain cachet,” said Whitfield, another longtime friend who goes back more than 35 years with Jordan. “For him to be majority owner, for him to do it in his home state as a local hometown hero, and to be able to come back and not just lead the team and the rebranding from the Bobcats to the Hornets, but his commitment to the community in giving back, it’s something that’s so special.” That’s a lot to unpack. When Jordan initially signed on with the Hornets, he did so as head of its basketball operations in 2006, purchasing a small minority stake in the team. The team was bad, the business was worse and trending down. “Back in ’08-09, the economy was in the tank and I was mandated to ‘displace’ 42 of our executives here on the business side,” Whitfield said. “When Michael bought the team, we were losing $30 million a year.’ Brought back into the league in 2004 two years after the original Hornets (1988-2002) were moved to New Orleans by reviled owner George Shinn, the Charlotte expansion team was owned -- and nicknamed -- by Bob Johnson, a co-founder of the BET television network. The Bobcats excelled only at losing and were 122 games under .500 in their first five seasons. The front office was understaffed, Spectrum Center (then known as Time Warner Cable Arena) needed renovations almost from its inception and there was a real sense that, if a buyer with deep pockets and a commitment to the area weren’t found, the franchise could be moved. In March 2010, Jordan ponied up the cash to become majority owner. But it says something that the deal stands as one of the few, if ever, instances of an NBA franchise being sold at a discount. Johnson paid $300 million for the team; Jordan purchased it for $275 million. Forbes.com recently had Charlotte worth $1.25 billion -- which ranks 28th. And Jordan reportedly has one of the biggest stakes of all NBA owners, with his share estimated at upwards of 90 percent, possibly as high as 98 percent. That’s a lot of success in nine years, despite the basketball team’s mostly middling performance. “With MJ being with the team, you got instant credibility in the marketplace,” said Pete Guelli, the chief operating officer who started on the job about 10 months before Jordan took ownership. “There had been a lot of uncertainty previously, but with his brand and his resources and his commitment, that just dissipated immediately. It was much, much easier to walk in the door and tell people about our vision for this franchise.” Rebranding the team as “Hornets” gave the franchise an existential boost -- it suddenly had a history again, complete with records, archives and true alumni. The arena got a makeover and, per Guelli, is credited for events there that generate an alleged $1 billion in revenues for local businesses. “Fortunately, we’ve been profitable pretty much since [Jordan took over],” Whitfield said. “That’s huge, especially since we haven’t gotten where we want to be on the basketball side.” Closing a new kind of game now It’s hard to overstate Jordan’s added value, not so much as some corporate or financial whiz but as a presence who brought instant motivation and energy to the staff. He imported executives with whom he had developed relationships at Nike or in other ventures and, after taking early criticism for an uncertain level of involvement, has been more diligent in recent years. “I love seeing him sitting at the end of the bench encouraging his players when he attends a game” said Charles F. Bowman, Bank of America’s market president for Charlotte and North Carolina. “And as a business person what impresses me is that he has empowered his management team to focus not only on the court but also on building bridges with the community. “He had a vision for where he was taking the team and a clear plan to get there. He has hired good people, gives them latitude to make decisions and he expects them to perform. Michael is unique -- the best player ever who is determined to keep getting better year over year as an owner.” The NBA has gotten a taste of Jordan’s growth and transition at some pivotal times. This is the legendary voice of the players who, during rancorous negotiations in the 1998 lockout, countered Washington owner Abe Pollin’s gripes about losing money by telling Pollin to sell his team. By the lockout of 2011, Jordan had moved to the other side of the table. But several members of the National Basketball Players Association’s executive committee saw him not as an opponent or turncoat but as a role model: someone who had transformed himself from employee to employer at the game’s highest level. “The players understood, he had been in their shoes,” Whitfield said. “He’s not forgetting what it meant to be a player. He was in the process of learning what it meant to be an owner.” When the current collective bargaining agreement was negotiated with commissioner Adam Silver and union director Michele Roberts leading the talks, Jordan was an active, powerful voice. He is an influential member of the NBA’s labor relations and competition committees. One Charlotte insider spoke to Jordan’s clout with his fellow owners in getting this weekend’s showcase -- jeopardized by a political squabble in 2017 -- back onto the league’s short list. “There’s no All-Star Game here in Charlotte if it’s not for MJ,” the person said. Last summer in Las Vegas, Silver lauded Jordan for his ability to straddle the basketball and business worlds. “He brings unique credibility to the table when we're having discussions [with the players],” he said, “and even just among the owners, he's able to represent a player point of view… Michael can say, 'Well, look, this is how I looked at it when I was a player, and these are the kind of issues we need to address if we're going to convince players that something is in everyone's interest.’ ” Jordan’s powers of persuasion apparently have been even more impressive in Charlotte and North Carolina. The executives are careful about relying on him too often -- Jordan’s most precious commodity, now that his net worth is estimated to be upwards of $1.7 billion -- is his time. But when they need Mariano Rivera to walk in from the bullpen, he is lights out. “We’ve had corporate sponsors at a golf outing, and he’s been there, maybe stayed at one hole to tell off with everybody,” Whitfield said. Or they’ll invite certain corporate sponsors to one of a few games each season in which “Club 23” is up and running at the Spectrum Center, a private club built for such purposes. They get a chance to visit, talk with and pick Jordan’s brain on the Hornets and much more. “We’ve closed all those deals,” Whitfield said. Then there was the time a local CEO wanted to finalize a sizeable sponsorship deal with the team, and had his No. 2 invite Jordan over to their headquarters for the meetings. Whitfield told the tale: “This guy says, 'You have to come to our office. Our CEO is the man in our business.' But we’re like, 'Nah, typically, CEOs come and meet in Michael’s office or in ‘Club 23’ over here.' He said no, that wasn’t going to work for them. “So Pete Guelli said, 'Let’s make a deal: We’ll take your CEO and drop him off in Beijing. And we’ll drop off Michael in Beijing. Then we’ll see who more people gravitate to. Whoever gets the least people, he has to come to the other guy’s office.'” Point made. Point taken. Said Whitfield: “The guy says, ‘You know what, I got it. We’ll be over 10 o’clock Friday morning.’” A community he calls home The Michael Jordan who once seemed determined to float above cultural and political frays as the most prudent way to serve commerce has not held back in recent years from making his presence felt. He has been more philanthropist than activist and, let’s face it, in times of the most dire need, cash beats talk every time. Charity and investing in the community can be good for business, sure. Making that a priority after Guelli’s arrival and Jordan’s purchase helped the Hornets build bridges with fans and merchants that Shinn and the original franchise’s departure had torched. More than that, though, giving back for Jordan and his team at this point in his life was the right thing to do. And do, and do, and do. The list of charitable and civic efforts Jordan and the Hornets have undertaken is long, with few outside the region or state aware of most of it. Among the highlights: - Donating $2 million to relief efforts in the wake of Hurricane Florence, particularly meaningful because of the damage it did in Jordan’s hometown of Wilmington. - Dedicated $7 million in partnership with Novant Health to fund two Michael Jordan Family Clinics, set to open in Charlotte in 2020. - Serving as Make-A-Wish’s Chief Wish Ambassador since 2008, while donating more than $5 million to the organization. His relationship with Make-A-Wish began more than 30 years ago. - Contributing $5 million as a founding donor of the Smithsonian’s National Museum of African American History and Culture in Washington, D.C. - Addressing the issue of police shootings and community policing in 2016 by donating $1 million each to the NAACP Legal Defense Fund and the International Association of Chiefs of Police. After the hurricane in September devastated so many homes and businesses in and near Jordan’s roots, he wanted to do more than to stroke a fat check. In a meeting covered by The Associated Press, he met with Stephanie Parker and her family, including four young children, after they lost their apartment in two feet of flooding. A call from the director of the Cape Fear chapter of the Red Cross brought them together. The meeting took place at a Lowe’s home improvement store. “I look around the corner, and it’s Michael Jordan. ‘Oh my God!’" Parker said. “I look at my kids, ‘It’s Michael Jordan!’ I’m not going to lie, some tears came in my eyes, because the first thing that went through my mind was when I was younger, his last game when he was on the Chicago Bulls team, and that flashback just came right in my mind.” Afterward, Jordan was coaxed by the Charlotte Observer to talk about why that disaster resonated so deeply for him. “You gotta take care of home,” he said. “Wilmington truly is my home. Kept thinking about all those places I grew up going to … You don’t want to see any of that anywhere, but when it’s home, that’s tough to swallow.” There’s basketball, there’s business and then there’s real life, which sometimes intrudes in the most desperate ways. “We didn’t know how many people in our community were hungry,” Whitfield said. “There are people in dire need, and it’s special to have that hometown hero have in his heart that ‘This is where I can help.’ “It gives not only him as a person but our organization a platform to really speak out. That commitment is what has made him a special owner, and why he’s even more beloved in our community.” Winning title No. 7 drives Jordan now To date, Jordan’s greatest achievements have come elsewhere, at least since his baseline shot as a freshman propelled North Carolina to the 1982 NCAA championship. Those Bulls championships, the “Dream Team” magnificence, his partnership with that sneaker company in Beaverton, Ore., his Naismith Memorial Basketball Hall of Fame induction, shooting “Space Jam,” all of it -- his legacy has been crafted with others, for others, mostly far from home. (For the record, Jordan, his wife Yvette and their two daughters own a mansion outside Charlotte and an estate in south Florida). “Look, this has always been home for him,” Whitfield said. “Even though he was drafted by Chicago, WGN became a very popular station. And he just continued to elevate, so people in this state were proud to say, even though he’s a Bull, we love him. When the Bulls would come here and play at the old Coliseum, these fans who were avid Hornets fans were all pulling for Michael Jordan. “He’d score, they’d cheer loudly. The Hornets would score, they’d cheer loudly. North Carolina always felt like he was their native son who went off and achieved greatness.” Coming back first to head the franchise’s basketball operations and then as owner, Jordan’s role -- in light of the modest results on the court -- has been custodial. Yes, the club’s improved financial stability is important. But for this driven winner and NBA owner unlike all others, custodial isn’t going to cut it for long. “He did an interview with Cigar Aficionado magazine a while back,” Peterson said, “and the question was asked, ‘What would you like to do?’ And he said, ‘Win a seventh championship. Win as an owner.’ So for me, every day, I’m thinking, here’s a close friend and you want to make your friends happy, right? So each day I think, do the best you can to reach this goal for him.” Said Hornets wing Nicolas Batum: “I understand. He wants to win. He wants to compete since he was born.” It hasn’t been for lack of trying, although Jordan has made sure to keep fiscal responsibility high on every agenda. The team’s payroll for 2018-19 is approximately $122.3 million, which ranks near the middle of the NBA pack. “That Michael Jordan is one cheap dude,” said an impassioned cab driver on a recent airport run. “He’s only going to spend so much and the players they get shows it.” The Hornets never have spent into the league’s luxury-tax, and if Walker is retained when he hits free agency this summer, he’ll likely become the first Charlotte player to sign a full maximum-salary contract (though the five-year, $120 million deal Batum landed in 2016 came awfully close). Injuries and dubious moves have taken a toll, a situation that Kupchak, Borrego and their staffs have been tasked with fixing. Jordan, by all accounts, is engaged yet patient, with a playoff berth and potentially a record above .500 within reach. “I’m sure he feels like,” Whitfield said, “if he were still 30 years old and could lace ‘em up and get out there, he’d help us get over the hump. I think he would cherish it as much or more than the first six. Because I think he realizes how hard it is to get it done. “But it doesn’t bother us if the fans see his frustration sitting next to our bench. It’s important to us that they see he’s not only invested, he’s vested in what our team is trying to do. They can relate to him because they’re feeling that same frustration.” Jordan is theirs again and that’s what matters. For basketball, for business, for community and in time, just maybe, in championship. 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 NewsFeb 16th, 2019

2019 NBA All-Star Diary: Day 1

5:20 A.M. – For some reason, I woke up 10 minutes before the alarm on my cellphone was scheduled to ring. Maybe it was jetlag. Maybe it was excitement. It didn’t matter, I had to get up from bed to prepare for the 2 hour and 30 minute drive from Durham to Charlotte. Me and my colleague, TJ Manotoc had taken a detour from our planned schedule to visit Duke University. Now, that we were done with that, it was time to revert back to our primary task of covering the 2019 NBA All-Star Game. During our drive back to Charlotte, I looked out the window to the sight of clear skies telling me that it was going to be a good day. 8:50 A.M. – The first task for journalists covering the NBA’s mid-season event is to secure a media pass. This is basically an ID that gives one clearance to all events that are happening throughout All-Star Weekend. After parking our rented car and walking to the designated hotel for the media credentials pick-up, we were ready to head to our first activity of the day. 9:35 A.M. – Hosting the best young players in the league was the Bojangles Coliseum where the first media availability session was about to take place. The Mountain Dew Rising Stars is first major event of All-Star weekend and we were given the opportunity to see the players from Team U.S. and Team World up-close to field in questions. Rookie sensation Luka Dončić drew the biggest crowd of reporters from all over the world. Because it would be tough for me to ask the Slovenian a question, I decided to go to another podium where this year’s number on overall pick, Deandre Ayton was sitting. “Deandre! Who’s the toughest center you’ve played against so far in your rookie season?” I asked. “Uuuhhh… nobody. Not yet. All the centers I’ve played against so far haven’t really went at me yet. I think they were just playing though the rhythm and not really going at me,” replied Deandre. I saw another player drawing a huge crowd and realized it was Ben Simmons, who is currently my second favorite NBA player behind Blake Griffin. After waiting for a little while, I pounced on the opportunity to field in a question. “Ben, with the current Sixers lineup, what do you think are the weaknesses that you guys need to improve on so that you can win the championship this year?” The 6’10” point guard from Australia looked right at me and said, “Offense. Defense.” Honestly, I was a little bit disappointed because I was expecting a more thorough answer but I guess that’s how it is sometimes. These athletes are asked a million questions and it might be a struggle for them to stay consistent with regards to being accommodating to people. Atlanta Hawks point guard Trae Young and LA Lakers forward Kyle Kuzma were two other players I visited. With so many players on both rosters, it would be extremely difficult to get to converse with all. But, seeing them right in front of you and having an opportunity to talk to them was an amazing experience. 11:00 A.M. – All media had been requested by the organizers to clear the court so we could witness Team World practice for the night’s event. Even though I got a very short answer from Simmons, I still observed him. Watching him dribble the ball up the floor and make long strides to the basket for dunks was a sight to behold. He could even knock down three-pointers. 11:45 A.M. – It was now the turn of Team U.S. to take the floor for practice. Donovan Mitchell and Jayson Tatum looked like they could be the best players on the squad but I was particularly looking at Young and his ability to shoot the ball and handle it exceptionally well. Kuzma was also taking every drill seriously. Just like he would the Rising Stars. 1:06 P.M. – After gathering content, TJ and I decided to have a late lunch at Denny’s. We looked at the schedule and realized that our next activity would not be happening until nine in the evening. More time to sleep, I thought. 2:23 P.M. – TJ dropped me and our luggage off at Springhill Suites, our hotel for the next three days. He left me there to check-in while he returned the rental car to the airport. But, as I went to the counter, I was told by the front desk that our room would not be available until 3:00 P.M.. That’s when I decided to look around. 2:45 P.M. – I went to the Hornets Fan Shop to look at the NBA All-Star merchandise and saw an interesting selection of hats, jerseys and all kinds of memorabilia. And then, I noticed a man carrying a box which contained a pair of Nike Adapt BBs, the shoes I tested last month in New York. I asked him where he got them and told me to check out the “Jordan pop-up shop” across the Spectrum Center. 2:55 P.M. – While walking on the street, I saw a long line outside a building. It turns out, this was where that man got his Nike Adapt BBs. It was a Foot Locker – House of Hoops pop-up shop which sold various sneakers that were scheduled to be released specifically during the NBA All-Star weekend. Because of my unforgettable experience in Manhattan, I decided to join the line for a chance to get my own pair of the most futuristic basketball shoes Nike has ever made. Thankfully, I was given a wristband with a number, allowing me to leave the line to check into the hotel. 3:15 P.M. – I checked into our hotel room and felt thankful that it had such a great location. Springhill Suites was right across the Spectrum Center, the venue of NBA All-Star weekend and of course, just down the block from the pop-up shop. As soon as TJ arrived, I left to resume my quest to buy the shoes. 4:46 P.M. – Finally, I was a proud owner of my very own Nike Adapt BB. I felt like my trip to the New York was given more meaning now. Also, I felt like this was one of the reasons my journey has taken me to Charlotte. But, there was still more work to be done. 8:30 P.M. – Less than an hour before tip-off of the Rising Stars game, TJ and I did a Facebook Live discussion right outside the Spectrum Center to update fans back at home about what has happened so far at the All-Star event and what we should look forward to. 8:55 P.M. – We couldn’t believe it. Our assigned seats were located high up in the bleachers. On the very last row. I was breathing heavily after making the climb up the arena. All of a sudden, the players looked more like ants compared to the giants that they were during our morning sessions with them. 10:54 P.M. – Team U.S. defeated Team World behind the 35 points and 6 rebounds of Kuzma, who was named MVP of the Rising Stars. Kuzma was also one of the easiest players to talk to among his peers. 11:05 P.M. – Just when I thought we were given a lot of access to the players, we were given more. There was another media session which commenced right after the game! 12:11 A.M. – Another thing the NBA is very generous with is food. TJ and I ended our long day at a restaurant and bar that the league booked for us international journalists. As we chomped down our food, we talked about how the NBA All-Star weekend would take a lot of our time from us, including our sleeping hours. TJ has been covering this annual event since 2011. He’s used to the grueling schedule. Me, I’m just soaking it all in. I have a few hours left before I have to get up and work again. As always, I’m going to try to have as much fun as possible. After all, it’s the NBA All-Star. It’s supposed to be fun......»»

Category: sportsSource:  abscbnRelated NewsFeb 16th, 2019

Ghosn shakes up legal team from Japanese cell

TOKYO, Japan (UPDATED) – Former Nissan boss Carlos Ghosn Wednesday, February 13, shook up his top legal team as he vowed to prove his innocence and defend himself with vigor against charges of financial misconduct. In the latest twist to a saga that has gripped Japan and the business world since ........»»

Category: newsSource:  rapplerRelated NewsFeb 13th, 2019

ONE Championship: Mark Fairtex Abelardo out to showcase Filipino fighting spirit in Bangkok

Mark "Tyson" Fairtex Abelardo might have been far away from the Philippines for the longest time, but he keeps his mother country close to his heart.   On Saturday, 16 February, he will have the chance to make an impression to his Filipino kababayans when he takes on undefeated bantamweight Daichi Takenaka on the undercard of ONE: CLASH OF LEGENDS, which emanates from the Impact Arena in Bangkok, Thailand.   "I feel more than ready to finally showcase my skill on the global stage,” said Abelardo, who signed a ONE Championship contract following his victory at ONE Warrior Series 3 in October.   “This is what I worked and trained hard for all my life, and I will make sure to make the most out of this moment.”   Born to Filipino parents in Auckland, New Zealand, "Tyson" is currently based in Pattaya, Thailand, where he hones his craft at the Fairtex Training Center.   While he has moved around the Asia Pacific for most of his adulthood, Abelardo noted that the Filipino warrior spirit is not lost on him, and it’s something that he vows to showcase in Bangkok.   "I am based in Thailand, but I will be out to show the fans out there that I possess the Filipino fighting spirit that Pinoys are known for,” he said. “I proudly represent the Philippines in ONE Championship."   The 27-year-old, however, will have his hands full against Takenaka, who is yet to taste defeat in his professional career. The Japanese grappler, who is a former Shooto Featherweight Champion, is known for his ability to mix his point of attack with strikes and efficient takedowns.   Despite the tall task at hand, Abelardo remains unfazed as he is excited to showcase his skills against a top opponent.   "A difficult fight is what I hoped for,” he explained.   “I feel that this is the kind of fight I needed in order to step up my level and go up the rankings in the bantamweight division. Fans will be in for a treat that evening."  said Abelardo.   "The goal is to win impressively, get my name out there, and represent the Philippine flag on a global stage."  .....»»

Category: sportsSource:  abscbnRelated NewsFeb 12th, 2019

Japanese Foreign Minister to head to Davao City for official visit Philippines

Japanese Foreign Minister to head to Davao City for official visit CNN Philippines Metro Manila (CNN Philippines, February 8) Japanese Foreign Minister Taro Kono will make an official visit to the c.....»»

Category: newsSource:  philippinetimesRelated NewsFeb 8th, 2019

How to make negative interest rates work

Many central banks reduced policy interest rates to zero during the global financial crisis to boost growth. Ten years later, interest rates remain low in most countries. While the global economy has been recovering, future downturns are inevitable. Severe recessions have historically required 3 to 6 percentage points cut in policy rates. If another crisis […].....»»

Category: newsSource:  tribuneRelated NewsFeb 7th, 2019

Apple Reaches 500 Million Euro Tax Settlement With France

Apple said Tuesday that it had reached an agreement with French authorities to settle 10 years of back taxes, becoming the latest US company to make a deal with France, which has led a European push for higher taxes on tech giants. Apple paid nearly 500 million euros ($570 million) to resolve the case in a confidential settlement reached in December, a source familiar with the case told AFP, confirming a report in French news weekly L'Express. "The French tax administration recently concluded a multiyear audit on the company's French accounts and an adjustment will be published in our public accounts," Apple said in a statement. "We know the important role taxes play in society and we...Keep on reading: Apple Reaches 500 Million Euro Tax Settlement With France.....»»

Category: newsSource:  inquirerRelated NewsFeb 7th, 2019