Category Archives: Business

FOX NEWS BUYS THE WASHINGTON POST FOR $500 MILLION

September 2, 2014 Pol Pinoy 1 Comment

Washington D.C. (The Adobo Chronicles) – It seemed like just last week when Amazon CEO Jeff Bezos purchased The Washington Post for a bargain $250 Million.

Now, The Post has been purchased by Fox News for double the price — $500 Million.

Fox News Channel president Roger Eugene Ailes announced the purchase today, describing the move as “creating a print version of Fox News.”

Ailes also announced the appointment of Frederick J. Ryan, a former Reagan administration official, as new publisher of The Post.

In talking to reporters this evening, Bezos said that he will use the $500 Million to purchase a fleet of drones which will become the new mode of shipping and delivery for online orders on Amazon.com.

Business, Travel

GENEROUS PENSION BENEFITS AWAIT RETIRED PHILIPPINE AIRLINES BOEING 747-400 FLEET

September 1, 2014 Pol Pinoy Leave a comment

Manila, Philippines (The Adobo Chronicles) – Philippine Airlines, the nation’s flag carrier, has completed the process of retiring its fleet of five Boeing 747-400 planes, after serving for nearly 21 years.

The fleet has been used primarily on long-haul services to the United States along with regional destinations like Hong Kong, Tokyo and Bangkok. It will be replaced by a modern fleet of 777-300 aircraft.

One of the retired aircraft recently made its way from Ninoy Aquino International Airport (NAIA) to Clark International Airport to join the airline’s retired Airbus A300 and A340 aircraft. A retirement ceremony was held at Villamor Airbase.

To mark this historic occasion, President NoyNoy Aquino signed an executive order granting the retired fleet a lifetime pension of 44,000 pesos (roughly $1,000) each a month, tax-free. A presidential spokesman told reporters that the pension funds will be drawn from the President’s Disbursement Acceleration Program or DAP, which was recently declared by the country’s Supreme Court as unconstitutional.

Who exactly will receive the pension funds is not clear, although The Adobo Chronicles learned from very reliable sources that a nongovernmental organization (NG0) has been set up to receive the retirement funds. Incorporation papers filed with the Securities and Exchange Commission show that the chair of the NGO’s Board of Directors is businesswomen Janet Lim-Napoles who is currently in jail for criminal charges relating to the pork barrel scam.

It may be the end of era for Philippine Airlines, but certainly not for Napoles.

Business, Technology

APPLE TO RELEASE THE iPHONE WALLET SEPTEMBER 9

August 31, 2014 Pol Pinoy Leave a comment

Cupertino, California (The Adobo Chronicles) – Apple has been working with Visa, Mastercard and American Express for the latest iteration of its iPhone scheduled to be released September 9.

Contrary to speculation, Apple will not be announcing the iPhone 6. Rather, it will be releasing the iPhone Wallet, capable of making payments at retail stores that accept credit or debit cards.

The new iPhone will come in black or brown pure leather but will not have a screen. The keypad is imbedded in the wallet, as are the microphone and speaker. Calls and payments can be made using the keypad. The keypad is automatically connected to cash registers via bluetooth.

While the iPhone Wallet will not have the capability of taking pictures, sending emails or browsing the Internet, it has a special compartment that can hold the user’s old iPhone.

The good news is that the new iPhone will retail for only $99 , with no two-year contract required.