I read Sunstar's Gensan story of September 7. I had heard of the strike vote at Dole from my Dad, who retired from Dole in 1993, but still resides in the Dole area. My younger brother works for Dole. So this interests me very much.
The writer quoted NAFLU-KMU's Tony Pascual saying that their economic demands will amount to PhP2B, about 1% of Dole's annual net profit.
I thought Mr. Pascual was pretty much exaggerating. No one earns that much. I thought the writer (there was no byline, so maybe it was "praise release"?). I believe the writer or the editor should have checked Mr. Pacual's statement before writing or publishing the story.
I cannot believe Dole can earn PhP 200B in one year (1% of annual profit, as the story says). Can you? No way, just cannot believe.
With limited time to ask for figures, I did an internet search. The PhP 200B could probably be close to Dole Food Company, Inc.'s ANNUAL REVENUES. Dole Food Company Inc. is the mother company of Dole Philippines. DFCI has operations in about 20 countries and had revenues of USD5.3B in 2004.
I also learned that Dolefil's NET PROFIT was PhP 239M out of PhP5.7B revenues in 1998.
It is statistically impossible for Dolefil to have revenues, much less, profit, in the amount Mr. Pascual says or the writer quotes. It is not unbelievable that Dolefil has said no to the union's demands.
Was Mr. Pascual very believable when he said this? or na-ilad ba si writer? As Bill Maher said (sorry this is not verbatim, but what I can only remember) to Larry King on CNN, media are supposed to be more intelligent. Sadly this story appears here as well.
The writer quoted NAFLU-KMU's Tony Pascual saying that their economic demands will amount to PhP2B, about 1% of Dole's annual net profit.
I thought Mr. Pascual was pretty much exaggerating. No one earns that much. I thought the writer (there was no byline, so maybe it was "praise release"?). I believe the writer or the editor should have checked Mr. Pacual's statement before writing or publishing the story.
I cannot believe Dole can earn PhP 200B in one year (1% of annual profit, as the story says). Can you? No way, just cannot believe.
With limited time to ask for figures, I did an internet search. The PhP 200B could probably be close to Dole Food Company, Inc.'s ANNUAL REVENUES. Dole Food Company Inc. is the mother company of Dole Philippines. DFCI has operations in about 20 countries and had revenues of USD5.3B in 2004.
I also learned that Dolefil's NET PROFIT was PhP 239M out of PhP5.7B revenues in 1998.
It is statistically impossible for Dolefil to have revenues, much less, profit, in the amount Mr. Pascual says or the writer quotes. It is not unbelievable that Dolefil has said no to the union's demands.
Was Mr. Pascual very believable when he said this? or na-ilad ba si writer? As Bill Maher said (sorry this is not verbatim, but what I can only remember) to Larry King on CNN, media are supposed to be more intelligent. Sadly this story appears here as well.
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