To be accurate, the accepted term is “informal” or “extralegal” economy.

Learn more here.

Philippines has huge underground economy!!!)

I’ve heard people comment on all the grand feasts of lechon, the numerous luxury cars and even squatters having laptops, among other observations, that they thought the Filipinos had no money. They in fact do! But how come the Filipinos look poor? Among other things, this is an obvious answer – most money goes underground. I’ve always thought that most of the Filipino money isn’t always on paper.

Back to the topic, integrity has a lot of aspects. It may not just include the honesty of the person. There is integrity as in being “integrated” meaning, having a lot of important traits. Aside from honesty, there’s competence, a good work ethic, flexibility, aptitude, attitude… and I agree Noynoy does not monopolize integrity. Rather the contrary, my good Watson….

so, if ur ownership is 1%, you can do something to steer that firm’s policy? what could he have done, for real, that he didnt do?

yes you can.

you can go to the board and state your case.

even dispose your 1% to make your point.

The retiree market isn’t within that bracket. There are lots of expat retirees who would like to setup shop – and hire pinoys but can’t – because of the ceiling.

There are many expats who are willing to go into joint ventures with pinoys in retail – and generate jobs for pinoys but can’t -thanks to the FINL.

List A specifically breaks it up as paid-up capital of $2.5 million, with $830,000 or more being used to establish a store (requirement reduced to $250,000 to establish a store in the case of high-end or luxury goods, which are not defined).

I think this is too high, because the other conditions that impact investing in and conducting business here are comparatively less attractive than the same level in some other places. High import/export costs, very high utility costs (electricity anyway), high labor costs are some examples. If I’m an investor, I’m thinking my $2.5 million is going to go farther somewhere else. Now all these conditions certainly still apply no matter what the level of investment. But if I only had to risk $500,000 or $1 million of my $2.5 million, it’s a risk I would be more inclined to take.

i suppose this boils down to:

1) philippine labor conflict arbitration sucks
2) land stock cert as an alternative to traditional land reform sucks

both are legit positions to have. its not clear how either of which is related to noynoy.