Sunday, December 28, 2008

Top 8 For 2008

The year 2008 is very significant, not just for me, but for everyone as well. With only 3 days left in '08, it is but fitting that we look back at what happened in the year of the Rooster

  • 8 - The Peso was strongest at PhP40.486 per US Dollar.
    The Philippine Peso traded the highest last February 29, 2008. A leap year friday. OFWs and their beneficiaries were affected most by the strengthening of the peso. For every US$100 sent by the OFW, an average of PhP1,000 were shaved off due to the current exchange rate. The next to be affected are the BPOs and Call Centers. Most BPOs planned their business activities when the exchange rate was pegged at 53 to 55 pesos per dollar. At 40 pesos per dollar, the BPOs lost 13 to 15 pesos in operating expenses.

  • 7 - Oil hit $147. Last July, we all felt helpless as oil shoot up to $147 per barrel. Suddenly, we found ourselves seeing weekly oil price increases, with gasoline hitting almost 60 pesos per liter. Seeking alternate transports, Pinoys crammed buses, MRT's, LRTs and jeeps. Middle class people sold their SUVs in favor of small sedans and AUVs.
  • 6 - The US SubPrime Crisis
    Who would have thought the effect of the US SubPrime Crisis will be felt by the whole world? Banks, credit institutions, even countries were hit by the tsunami created by the SubPrime crisis. Jobs in the US were lost. Economies gone haywire.
  • 5 - The US Automakers Bailout
    The BIG Three CEOs went to Washington with their heads bowed and hat in hands asking US Congress to provide aid. Senators berate them by telling the CEOs to sell their corporate jets and fly commercial.
  • 4 - OIL falls to below $40 per barrel
    BIG MISTAKE. With oil falling below 40 dollars, the next thing that happened was that gas and diesel prices will fall too. We saw the increase in traffic in EDSA the past few days. What would happen to the development of alternative energy? Clearly, this is not the solution.
  • 3 - We won the Emerson Battle of the Bands
    DBG won the Emerson Battle of the Bands held last November 8. The gang just went there, had fun, and won.
  • 2 - Palawan Outing
    This year's outing was the best. I have never been to Palawan and definitely this was a blast.
  • 1 - Thankful for being alive.
    With the current economy in shambles, I am still thankful that I am alive and I have a job to look forward to in January 2009.

Who knows what will be in store for me in 2009, will I prosper or will I fall? If it is to be, it is up to me. Happy New Year

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