Not Business As Usual: Lucio Tan is hiring

Lucio Tan is hiring

There’s talk the seven-year intellectual property infringement suit filed by Vazquez Building Systems Corp. against the low-cost housing subsidiary of  Ayala Land Inc. will finally be resolved this April. No, the Ayalas aren’t settling out of court royalty claims that started out at P100 million but which has since gone up to P300 million and counting. At the heart of the IP suit is a prefabricated fence, which can be moved from one project to another. Vazbuilt claims it developed and used the fence in its projects with Laguna Properties Holdings Inc. (LPHI) for several years in the 1990s. LPHI claims the fence it has been using since terminating its relationship with Vazbuilt is different. A lot has happened in the past seven years, of course. The Vazquez siblings have parted ways. LPHI has since been rebranded as Avida Land. LPHI president Manuel Colayco has retired and Avida’s head is Dina Bayangos.  ***  Did you know 1: The minimum weekly wage of Filipino industrial trainees in South Korea will be increased from the current P700 to P727.32 for a 40-hour week and P786.48 for a 44-hour week starting middle of this year. These trainees theoretically earn less than workers directly coursed through the Philippine Overseas Employment Administration. In practice, they may just earn more because of overtime pay and savings from not paying taxes nor board and lodging. On the off side, trainees have only a two-year contract.   Did you know 2: Lucio Tan’s new property company, Eton Properties Phils., is currently on a hiring binge, hiring everyone from agents to mortgage bankers. Applications are being processed at the Allied Bank head office along Ayala Avenue. Oh, Eton’s president is Danilo Ignacio, an ex-Citibanker previously involved with the construction of the Philam Tower in Makati and the high-rise buildings of John Gokongwei’s Robinsons Land Corp.   Did you know 3: One of the first things Intellectual Property Phils. director general Adrian Cristobal Jr. did after arriving from a month-long working stay in Australia was to open an art gallery called Alab at the ground floor of the IP Building. The gallery is the first to be built inside an IP office in Southeast Asia.  ***  Despite aggressive preselling to Filipino Americans for the past two years, construction in the former Metropolitan Club outside Rockwell Center has been limited to a huge hole that could qualify as the country’s deepest swimming pool in the future. The residential condominium project was one of the babies of RFM Corp. president and chief executive officer Jose Concepcion III before he took on the full job of presidential consultant for entrepreneurship. Meanwhile, Joey Concepcion’s top marketing man for condo units, Rally Martinez, has moved on to a similar operation put up by the family of Quezon City Mayor Feliciano Belmonte.

 

http://www.businessmirror.com.ph/02192007/companies05.html