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Wolves of Paseo
Wolves of Paseo Media and Entertainment Sector Philippine Stock Exchange (PSE) ABS-CBN Corporation Date: 06/11/2019 Current Price: Recommendation: Buy Ticker: ABS:PM PHP18.6 Target Price: PHP31.8 Market Profile We issue a BUY recommendation for ABS-CBN Closing Price 18.58 Corporation (ABS) with a target price of PHP31.8, (PHP) representing a 71% upside from its closing price of 52-Week 16.80 – PHP18.6 on 06 November 2019. We arrived at our Range 25.30 Average 213.5 target price using the Discounted Free Cash Flow to Volume Equity method. (PHP’000) Shares 861.97 Strong Core Business Anchored on Growing Outstanding Consumption (Millions) Market Cap 15.07 (PHPbn) Consumer Spending is expected to pick up in the Dividend 2.96% next few years as inflation levels out and labor Yield market strengthens. Furthermore, spending will also P/E (ttm) 5.47 be supported by continuously strong inflows coming Source: MarketWatch from remittances. Figure 1. Forecasted EPS (in PHP) Outlook towards the labor market and 6 unemployment is positive, with unemployment maintaining its low level. In addition, the higher 4 minimum wage will increase disposable income which will eventually translate to consumption. ABS 4.4 4.7 4.9 2 3.8 4.1 is well positioned to reap the benefits of this trend as 0 it remains to be the leading media company in the 2020F 2021F 2022F 2023F 2024F Philippines. It consistently leads the industry based on rating agencies. Source: Team Estimates Ratios 2019F 2020F 2021F 2022F 2023F 2024F Gross Margin 41% 40% 40% 40% 40% 40% Net Profit Margin 7% 7% 7% 8% 8% 8% Current Ratio 3.0 3.1 3.2 3.4 3.5 3.6 Debt-to-Equity 0.9 0.8 0.7 0.7 0.6 0.6 Return on Asset 4% 3% 4% 4% 4% 4% Return on Equity 9% 8% 8% 8% 8% 7% Earnings per Share 3.8 3.8 4.1 4.4 4.7 4.9 Business Description ABS is the Philippines’ leading media and entertainment organization. -
The US Army Air Forces in WWII
DEPARTMENT OF THE AIR FORCE HEADQUARTERS UNITED STATES AIR FORCE Air Force Historical Studies Office 28 June 2011 Errata Sheet for the Air Force History and Museum Program publication: With Courage: the United States Army Air Forces in WWII, 1994, by Bernard C. Nalty, John F. Shiner, and George M. Watson. Page 215 Correct: Second Lieutenant Lloyd D. Hughes To: Second Lieutenant Lloyd H. Hughes Page 218 Correct Lieutenant Hughes To: Second Lieutenant Lloyd H. Hughes Page 357 Correct Hughes, Lloyd D., 215, 218 To: Hughes, Lloyd H., 215, 218 Foreword In the last decade of the twentieth century, the United States Air Force commemorates two significant benchmarks in its heritage. The first is the occasion for the publication of this book, a tribute to the men and women who served in the U.S. Army Air Forces during World War 11. The four years between 1991 and 1995 mark the fiftieth anniversary cycle of events in which the nation raised and trained an air armada and com- mitted it to operations on a scale unknown to that time. With Courage: U.S.Army Air Forces in World War ZZ retells the story of sacrifice, valor, and achievements in air campaigns against tough, determined adversaries. It describes the development of a uniquely American doctrine for the application of air power against an opponent's key industries and centers of national life, a doctrine whose legacy today is the Global Reach - Global Power strategic planning framework of the modern U.S. Air Force. The narrative integrates aspects of strategic intelligence, logistics, technology, and leadership to offer a full yet concise account of the contributions of American air power to victory in that war. -
A Companion for Aspirant Air Warriors a Handbook for Personal Professional Study
A Companion for Aspirant Air Warriors A Handbook for Personal Professional Study DAVID R. METS, PHD Air University Press Air Force Research Institute Maxwell Air Force Base, Alabama May 2010 Muir S. Fairchild Research Information Center Cataloging Data Mets, David R. A companion for aspirant air warriors : a handbook for personal professional study / David R. Mets. p. ; cm. Includes bibliographical references. ISBN 978-1-58566-206-7 1. Air power—History. 2. Aeronautics, Military—History. 3. Aeronautics, Military—Biography. 4. Military art and science—History. I. Title. 358.4—dc22 Disclaimer Opinions, conclusions, and recommendations expressed or implied within are solely those of the author and do not necessarily represent the views of Air University, the Air Force Research Institute, the United States Air Force, the Department of Defense, or any other US government agency. Cleared for public release: distribution unlimited. Air University Press 155 N. Twining Street Maxwell AFB, AL 36112-6026 http://aupress.au.af.mil ii Dedicated to Maj Lilburn Stow, USAF, and his C-130 crew, who lost their lives over the A Shau Valley, Vietnam, 26 April 1968, while supporting their Army countrymen on the ground Contents Chapter Page DISCLAIMER . ii DEDICATION . iii FOREWORD . vii ABOUT THE AUTHOR . ix ACKNOWLEDGMENTS . xi INTRODUCTION . 1 1 THE INFANCY OF AIRPOWER. 3 2 NAVAL AVIATION . 7 3 AIRPOWER IN WORLD WAR I . 11 4 LAYING THE INTELLECTUAL FOUNDATIONS, 1919–1931 . 15 5 AN AGE OF INNOVATION, 1931–1941 . 19 6 NAVAL AVIATION BETWEEN THE WARS . 23 7 WORLD WAR II: THE RISE OF THE LUFTWAFFE . 29 8 WORLD WAR II: EUROPE—THE STRATEGIC BOMBING DIMENSION . -
Strategic Goal 5: Encourage the Pursuit of Appropriate Partnerships with the Emerging Commercial Space Sector
National Aeronautics and Space Administration FFiscaliscal YYeaear 20102010 PERFORMANCEPERFORMANCE ANDAND ACCOUNTABILITYACCOUNTABILITY REPORTREPORT www.nasa.gov NASA’s Performance and Accountability Report The National Aeronautics and Space Administration (NASA) produces an annual Performance and Accountability Report (PAR) to share the Agency’s progress toward achieving its Strategic Goals with the American people. In addition to performance information, the PAR also presents the Agency’s fi nancial statements as well as NASA’s management challenges and the plans and efforts to overcome them. NASA’s Fiscal Year (FY) 2010 PAR satisfi es many U.S. government reporting requirements including the Government Performance and Results Act of 1993, the Chief Financial Offi cers Act of 1990, and the Federal Financial Management Improvement Act of 1996. NASA’s FY 2010 PAR contains the following sections: Management’s Discussion and Analysis The Management’s Discussion and Analysis (MD&A) section highlights NASA’s overall performance; including pro- grammatic, fi nancial, and management activities. The MD&A includes a description of NASA’s organizational structure and describes the Agency’s performance management system and management controls (i.e., values, policies, and procedures) that help program and fi nancial managers achieve results and safeguard the integrity of NASA’s programs. Detailed Performance The Detailed Performance section provides more in-depth information on NASA’s progress toward achieving mile- stones and goals as defi ned in the Agency’s Strategic Plan and NASA’s FY 2010 Performance Plan Update. It also includes plans for correcting performance measures that NASA did not achieve in FY 2010 and an update on the mea- sures that NASA did not complete in FY 2009. -
Us East Time (St)
JULY 2012 NORTH AMERICA MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY JULY 9 JULY 10 JULY 11 JULY 12 JULY 13 JUL Y 7 JULY 8 ET ET 12 A RATED K (11:25-12:15) MAALAALA MO KAYA 12 A X-FACTOR WALANG HANGGAN (R) (11:55-12:35) (R) (11:30-12:30) PHILIPPINES X-FACTOR SUNDAY KAHIT PUSO’Y MASUGATAN (12:35-1:10) PHILIPPINES 1 (12:15-1:15) SATURDAY 1 GANDANG GABI VICE KUNG AKO’Y IIWAN MO (R) (1:10-1:40) (12:30-1:30) (1:15-2:00) BANANA SPLIT 2 PHR: HIYAS (1:40-2:20) JUNE 30 EP. (R) 2 THE WAY (1:30-2:30) YOU LOOK BANDILA (2:20-3:05) AT ME BOTTOMLINE 3 (2:30-3:30) 3 (2:00-3:40) XXX GAPLESS PATROL NG PILIPINO AKO ANG SIMULA KRUSADA SOCO (3:05-3:45) (3:05-3:45) (3:05-3:45) (3:05-3:45) (3:05-3:45) STORYLINE 4 BALITANG AMERICA (R)(3:45-4:15) (3:30-4:10) 4 ASAP (R) STORYLINE (R) SALAMAT DOK SAT BOTTOMLINE (R) SALAMAT DOK SUN RATED K (R2) CITIZEN PINOY (4:15-5:05) (R)(4:15-5:05) (4:15-5:05) (R)(4:15-5:05) (4:15-5:05) 5 (3:40-5:45) (R)(4:10-5:10) 5 PATROL NG PILIPINO KRIS TV (R) (5:05-6:00) (R) (5:10-5:50) 6 ADOBO NATION KRUSADA (R) 6 (R)(5:45-6:45) (5:50-6:30) FAILON NGAYON TODA MAX (R) (6:30-6:55) 7 JUNE 30 EP. -
Up from Kitty Hawk Chronology
airforcemag.com Up From Kitty Hawk Chronology AIR FORCE Magazine's Aerospace Chronology Up From Kitty Hawk PART ONE PART TWO 1903-1979 1980-present 1 airforcemag.com Up From Kitty Hawk Chronology Up From Kitty Hawk 1903-1919 Wright brothers at Kill Devil Hill, N.C., 1903. Articles noted throughout the chronology provide additional historical information. They are hyperlinked to Air Force Magazine's online archive. 1903 March 23, 1903. First Wright brothers’ airplane patent, based on their 1902 glider, is filed in America. Aug. 8, 1903. The Langley gasoline engine model airplane is successfully launched from a catapult on a houseboat. Dec. 8, 1903. Second and last trial of the Langley airplane, piloted by Charles M. Manly, is wrecked in launching from a houseboat on the Potomac River in Washington, D.C. Dec. 17, 1903. At Kill Devil Hill near Kitty Hawk, N.C., Orville Wright flies for about 12 seconds over a distance of 120 feet, achieving the world’s first manned, powered, sustained, and controlled flight in a heavier-than-air machine. The Wright brothers made four flights that day. On the last, Wilbur Wright flew for 59 seconds over a distance of 852 feet. (Three days earlier, Wilbur Wright had attempted the first powered flight, managing to cover 105 feet in 3.5 seconds, but he could not sustain or control the flight and crashed.) Dawn at Kill Devil Jewel of the Air 1905 Jan. 18, 1905. The Wright brothers open negotiations with the US government to build an airplane for the Army, but nothing comes of this first meeting. -
Ar-2004 Pdf Comp
abs-cbn annual report 2004 1 2 abs-cbn annual report 2004 abs-cbn annual report 2004 3 4 abs-cbn annual report 2004 abs-cbnabs-cbn annual annual report report 2004 2004 55 6 abs-cbn annual report 2004 abs-cbn annual report 2004 7 8 abs-cbn annual report 2004 abs-cbn annual report 2004 9 10 abs-cbn annual report 2004 abs-cbn annual report 2004 11 12 abs-cbn annual report 2004 abs-cbn annual report 2004 13 14 abs-cbn annual report 2004 abs-cbn annual report 2004 15 16 abs-cbn annual report 2004 abs-cbn annual report 2004 17 18 abs-cbn annual report 2004 abs-cbnabs-cbn annual annual report report 2004 20041919 ABS-CBN BROADCASTING CORPORATION AND SUBSIDIARIES BALANCE SHEETS (Amounts in Thousands) Parent Company Consolidated December 31 2003 2003 (As restated - (As restated - 2004 Note 2) 2004 Note 2) ASSETS Current Assets Cash and cash equivalents (Note 4) $356,772 $803,202 $1,291,557 $1,580,355 Receivables - net (Notes 5, 7 and 12) 2,181,412 2,338,136 3,757,824 3,789,278 Current portion of program rights (Note 9) 490,685 566,992 872,983 880,975 Other current assets - net (Note 6) 296,182 193,317 629,426 508,681 Total Current Assets 3,325,051 3,901,647 6,551,790 6,759,289 Noncurrent Assets Due from related parties (Notes 7 and 12) 159,741 150,894 262,435 273,303 Investments and advances (Notes 5, 7, 9, 12 and 15) 3,622,061 3,417,545 239,962 342,111 Noncurrent receivables from Sky Vision (Note 7) 1,800,428 – 1,800,428 – Property and equipment at cost - net (Notes 8, 12, 13 and 14) 10,250,015 10,580,136 10,650,285 10,909,767 Program rights -
Lopez Group 1Q Financial Performance…
JUNE 2016 www.lopezlink.ph This Father’s Day, EL Center salutes the Best Dad Ever! http://www.facebook.com/lopezlinkonline www.twitter.com/lopezlinkph Details on page 5. NO to coal. FPH pushes forThis was the declaration made by Federico R. Lopez (FRL), chairman of First Philippine Holdings Cor- poration (FPH), before stockholders during the company’s annual meeting energy shift in Ortigas. Turn to page 6 Lopez Group 1Q Father power …page 12 financial performance …page 2 …page 4 Lopezlink June 2016 Lopezlink June 2016 Biz News Biz News JANUARY TO MARCH 2016 FINANCIAL RESULTS (UNAUDITED) Dispatch from Japan Lopez Holdings attributable Total consolidated revenues Net income attributable to equity ABS-CBN dominates holders of the parent company Last two voters in Tokyo hope for a better net income at P1.50B 2015 2016 % change 2015 2016 % change By Carla Paras-Sison Philippines May national TV ratings ABS-CBN P8.326B P9.795B +18 P667.7M P839.2M +26 THE Philippine embassy in By Kane Choa LOPEZ Holdings Corpora- ings Corporation (FPH) and Higher efficiencies accounted Lopez Holdings P25.252B P22.721B -10 P1.085B P1.350B +24 Tokyo recorded the last male tion reported P1.350 billion in ABS-CBN Corporation. for the gains with FPH costs EDC P8.498B P9.096B +7 P2.493B P3.254B +31 and female overseas voters ABS-CBN Corporation contin- net income attributable to eq- Unaudited consolidated rev- and expenses falling by a faster ued to register huge viewership on First Gen $500.0M $420.4M -16 $50.5M $60.8M +20 to have cast their votes for uity holders of the parent for the enues decreased by 11% year- 16% following an 11% decline in both television and online for the FPH P25.280B P22.745B -10 P1.661B P2.097B +26 the national elections shortly first quarter of 2015. -
In the Middle of Your Office Work
EXERCISE in the middle of your office work From MeDICAL INSPIRaTION, digitally enhanced by HEALTHbeat. DEPARTMENT OF HEALTH - National Center for Health Promotion 2F Bldg. 18, San Lazaro Compound, Sta. Cruz, Manila 1003, Philippines HEALTHbeat Tel. No. (63-2) 743-8438 Email: [email protected] Final Destination Towards the end of 2011, Northern Mindanao suffered massive flooding that caused more than a thousand people dead and leaving several thousands more homeless. Some people are made to believe that this is another sign that the end of the world will come this year. December 21, 2012 is a date that is well known globally. Several hundred years ago, the Ancient Mayans predicted the apocalypse on this date. With their 5,125 year old calendar resetting itself to 0.0.0.0 on this date, many are preparing for the worst. However, the legitimacy of this Mayan prophesy is deemed questionable. Are we really in for our final destination? That is also the question that emerged from the Department of Health officials at the start of the New Year. On the first working day, three Department Personnel Orders (DPOs) were issued to everyone's surprise, including those affected. A handful of people were Editorial Board becoming new directors and cluster heads, the seated top management and directors were Ivanhoe C. Escartin, MD Rosemarie G. Aguirre reassigned, and some of those reassigned were allegedly have been told that this is not yet their final destination. That's not all folks, more DPOs are rumored to be issued. Editors-in Chief Anthony R. Roda May Elenor R. -
THE SOCIAL MEDIA (R)EVOLUTION? Asian Perspectives on New Media
THE SOCIAL MEDIA (R)EVOLUTION? Asian Perspectives On New Media CONTRIBUTIONS BY: APOSTOL, AVASADANOND, BHADURI, NAZAKAT, PUNG, SOM, TAM, TORRES, UTAMA, VILLANUEVA, YAP EDITED BY: SIMON WINKELMANN Konrad-Adenauer-Stiftung Singapore Media Programme Asia The Social Media (R)evolution? Asian Perspectives On New Media Edited by Simon Winkelmann Copyright © 2012 by the Konrad-Adenauer-Stiftung, Singapore Publisher Konrad-Adenauer-Stiftung 34 Bukit Pasoh Road Singapore 089848 Tel: +65 6603 6181 Fax: +65 6603 6180 Email: [email protected] www.kas.de/medien-asien/en/ All rights reserved Requests for review copies and other enquiries concerning this publication are to be sent to the publisher. The responsibility for facts, opinions and cross references to external sources in this publication rests exclusively with the contributors and their interpretations do not necessarily reflect the views or policies of the Konrad-Adenauer-Stiftung. Layout and Design Hotfusion 7 Kallang Place #04-02 Singapore 339153 www.hotfusion.com.sg CONTENTS Foreword 5 Ratana Som Evolution Or Revolution - 11 Social Media In Cambodian Newsrooms Edi Utama The Other Side Of Social Media: Indonesia’s Experience 23 Anisha Bhaduri Paper Chase – Information Technology Powerhouse 35 Still Prefers Newsprint Sherrie Ann Torres “Philippine’s Television Network War Going Online – 47 Is The Filipino Audience Ready To Do The Click?” Engelbert Apostol Maximising Social Media 65 Bruce Avasadanond Making Money From Social Media: Cases From Thailand 87 KY Pung Social Media: Engaging Audiences – A Malaysian Perspective 99 Susan Tam Social Media - A Cash Cow Or Communication Tool? 113 Malaysian Impressions Syed Nazakat Social Media And Investigative Journalism 127 Karen Yap China’s Social Media Revolution: Control 2.0 139 Michael Josh Villanueva Issues In Social Media 151 Social Media In TV News: The Philippine Landscape 163 Social Media For Social Change 175 About the Authors 183 Foreword ithin the last few years, social media has radically changed the media Wsphere as we know it. -
Inventory to Archival Boxes in the Motion Picture, Broadcasting, and Recorded Sound Division of the Library of Congress
INVENTORY TO ARCHIVAL BOXES IN THE MOTION PICTURE, BROADCASTING, AND RECORDED SOUND DIVISION OF THE LIBRARY OF CONGRESS Compiled by MBRS Staff (Last Update December 2017) Introduction The following is an inventory of film and television related paper and manuscript materials held by the Motion Picture, Broadcasting and Recorded Sound Division of the Library of Congress. Our collection of paper materials includes continuities, scripts, tie-in-books, scrapbooks, press releases, newsreel summaries, publicity notebooks, press books, lobby cards, theater programs, production notes, and much more. These items have been acquired through copyright deposit, purchased, or gifted to the division. How to Use this Inventory The inventory is organized by box number with each letter representing a specific box type. The majority of the boxes listed include content information. Please note that over the years, the content of the boxes has been described in different ways and are not consistent. The “card” column used to refer to a set of card catalogs that documented our holdings of particular paper materials: press book, posters, continuity, reviews, and other. The majority of this information has been entered into our Merged Audiovisual Information System (MAVIS) database. Boxes indicating “MAVIS” in the last column have catalog records within the new database. To locate material, use the CTRL-F function to search the document by keyword, title, or format. Paper and manuscript materials are also listed in the MAVIS database. This database is only accessible on-site in the Moving Image Research Center. If you are unable to locate a specific item in this inventory, please contact the reading room. -
22 April 2011 Trying to Come up with Something Original
WCSFAzine The Fannish E-zine of the West Coast Science Fiction Association Dedicated to Promoting VCON, Canada’s Oldest Continuing SF Convention. #22 April 2011 Trying to come up with something original to write in the book of VCON CONTENTS: 02………. Credits & Editorial. VCON 36 NEWS: 03………. Latest VCON 36 Announcements: Venue map & Author GoH. 05………. The Dyna-Soar Dinosaur: In Theme: retro look at the US Air Force Space Bomber. CONVENTION HISTORY ARTICLES: 08………. The Book of VCON: You too can be a part of this fannish legend. 11………. VCON 26: 2001 A Space Oddity by Penelope Harris: A contemporary review of VCON 26. SUPER SCIENCE STUFF: 13………. Ask Mr. Science! The truth about upside-down volcanoes and upside-down pens. 14………. Ask Mr. Guess-It-All! The truth about cats on laps and the dreaded writer’s block. FANDOM NEWS & NOTES: 14………. The Gentleman who gave us VCON by Ed Beauregard: In memory of Chuck Davis. 15………. The Gentleman who gave us Dr. Lo Fog by Debbie Miyashita: In memory of Ed Hutchings. 16………. Your questions on Mysticism Answered by Ed Hutchings: A tribute reprint. 17………. What to Read from the Golden Age by Ed Hutchings: A tribute reprint. 19………. Aurora Boréal Nominations Still Open: You still have time to nominate! 20………. CUFF voting now open: An actual Canadian Unity Fan Fund Election you can vote in! 20………. TAFF voting still open: Just Barely, only a few more days. LETTERS OF COMMENT: 21………. Missives from: Cathy Palmer-Lister, Ed Beauregard, Alex von Thorn, Steve Forty, Fran Skene, Lloyd Penney, & Danielle Stephens.