Category Archives: Business

Business, Government, Media

BIR, SSS, Others Go After ABS-CBN

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MANILA, Philippines (The Adobo Chronicles, Manila Bureau) – ABS-CBN Network, forced off the air last week due to its expired broadcast franchise is in for more trouble, thanks to Rappler CEO Maria Ressa!

After being shut down by the National Telecommunications Commission (NTC), the Philippines’ largest broadcasting network now faces fines and sanctions from other government entities like the Bureau of Internal Revenue (BIR), Social Security System (SSS), PhilHealth and the Home Development Mutual Fund (Pag-ibig Fund).

In a television interview with The World’s Beverley O’Connor, Ressa revealed that ABS-CBN had 11 Million employees that are affected by the shutdown, contrary to the network’s earlier claim of 11,000.

That means that ABS-CBN had defrauded the government of what could be Billions of pesos in potential taxes and contributions.  By law, employers are mandated to deduct income taxes and Social Security contributions from their employees’ paychecks, not to mention automatic deductions for PhilHealth premiums and Pag-ibig fund contributions.  In effect, the network owes the government money which would have been collected from the remaining 10,989,000 employees.

Speaking with The Adobo Chronicles, spokespersons of the different government agencies said that they have no reason to not believe Ressa who is among the country’s and the world’s most truthful and trusted journalists, having been previously named Time magazine’s Person of the Year.

Business, Media

Karen Davila: Manny Pacquiao Eyeing To Buy ABS-CBN

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QUEZON CITY, Philippines (The Adobo Chronicles, Quezon City Bureau) – In less than 48 hours since ABS-CBN went off the air as part of an NTC order coinciding with its franchise expiration, Senator Manny Pacquiao has indicated he’s very interested in purchasing the giant broadcast network.

The boxer-turned-Senator revealed his plans during an interview with Karen Davila, aired via live streaming on ANC.

Here’s a transcript of the interview:

Davila: Mr. Senator, what are your thoughts regarding the closure of ABS-CBN over the expiration of its broadcast franchise?

Pacquiao: The law is the law.  We all should respect and abide by it.

Davila: But our fans, supporters, and talents are saying that this is the worst time to shut down the network considering the country is in the midst of dealing with a pandemic.

Pacquiao:   Covid-19 doesn’t come with a timeline, but franchises do.

Davila: As  Senator, would you support the granting of a new franchise to ABS-CBN?

Pacquiao:  As a Senator, I would, if that’s the decision that Congress comes up with.  But as a private investor, I have other plans.

Davila:  Oh?

Pacquiao: My wife Jinky and I have been discussing about making an offer to buy ABS-CBN from the Lopezes.

Davila: Really? Wow, that means, I will continue to have a job after all!

Pacquiao: Not so fast, Karen.

Davila: Yes, Senator?

Pacquiao: Remember the last time you interviewed me on your show, you pinned me down about my political plans because I didn’t have a college degree?

Davila: Uhmmm, yes…

Pacquiao: Well, people without college degrees can become big investors, and as investors, they can make their own business decisions.

Davila: What are you trying to get at, Mr. Senator?

Pacquiao: As a new owner of ABS-CBN, one of my first decisions is to re-hire all the network’s current employees, except you. As Donald Trump likes to say, “You’re fired!”

 

 

Business, Health & Medicine, Media

ABS-CBN To Enter Into ‘Katol’ Business

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QUEZON CITY, Philippines (The Adobo Chronicles, Quezon City Bureau) – Resilience and ingenuity are traits that Filipinos are known for and they’re evident especially in the business world.

Just hours after it was forced to go off the air due to the expiration of its broadcasting franchise, ABS-CBN announced it would enter into the katol business.

For the unfamiliar, katol is the self-burning coil popular in the Philippines, used to keep mosquitoes away.

A spokesperson for ABS-CBN told The Adobo Chronicles that the former network sees great potential in katol as prevention for mosquito-borne diseases like dengue.  It also foresees the product’s potential in fighting off the spread of viruses, including Covid-19.

“What we’re happy about,” the spokesperson said, “is that we don’t have to reinvent our company logo since what we have now pretty much resembles the katol. We just need to make some adjustments in our logo’s colors.”