Pay transparency

The Seoul Central District Court made the ruling and ordered the immediate detention of Park after finding him guilty of most of charges. The 77-year-old Park resigned as chairperson of Kumho Asiana Group and Asiana Airlines in 2019 to take responsibility for bookkeeping irregularities at the nation's No. 2 carrier. He was arrested and indicted in May last year on multiple criminal charges but was released on bail in November. Park is accused of masterminding unfair related-party transactions in violation of the Monopoly Regulation and Fair Trade Act to rebuild the group and regain control of group companies. Park was indicted for withdrawing 330 billion won ($252 million) from four companies in 2015 to pay for the return of Kumho Industrial shares from the state-funded Korea Development Bank and other creditors. Park was also charged with inflicting losses on Asiana Airlines by leading the airline company to undersell 100 percent of its shares in Kumho Terminal to Kumho … [Read more...] about Ex-Kumho Asiana chair gets 10 years for unfair deals, embezzlement

Share to Twitter Share to Linkedin With fewer than 100 days until the midterms and President Biden's approval rating underwater, Democrats are desperate for a political win they can trumpet on the campaign trail. They're hoping the deceptively named Inflation Reduction Act is it. At the center of the bill is $64 billion in subsidies for health insurance purchased through Obamacare's exchanges. They're an extension of the subsidies created as part of the 2021 American Rescue Plan Act. They were supposed to expire at the end of this year—temporary measures to help households weather the economic impact of the pandemic. But if that happened, people would've received notices of massive premium hikes just before they headed to the polls. Hence, the Inflation Reduction Act's move to extend them for three more years, through 2025. It's a transparent ploy for votes. And it obscures just how much the Affordable Care Act has failed to live up to its name. … [Read more...] about Dems’ Reconciliation Package Obscures Obamacare’s Failures With Taxpayer Cash

Photo from the website of the Colegio de San Lorenzo. MANILA, Philippines — More schools have offered to absorb the displaced students and staff of the shuttered Colegio de San Lorenzo (CDSL), including Quezon City University, Thames International, UST Angelicum College, Trinity College of Asia and APEC V. Luna. Orlando Casimiro, head of Quezon City’s legal department, said other institutions have also reached out directly to CDSL, including College of St. Catherine Quezon City, Samson College of Science and Technology, St. Joseph College, St. Bernadette of Lourdes College, and De La Salle Araneta University. Among the schools, UST Angelicum provided details that would be of help to the students who were suddenly without a school. UST Angelicum on Wednesday said it would open its doors to the displaced students and promised to match CDSL’s tuition rates for the current school year. In an announcement, the college said it was opening a one-day admission process for the … [Read more...] about More schools offer to take in students of shuttered CDSL

GLITCHES | The Land Transportation Office is under fire for paying billions of pesos for an online licensing and registration portal that a senator now wants scrutinized for frequently bogging down. (File photo by NIÑO JESUS ORBETA / Philippine Daily Inquirer) MANILA, Philippines — The Land Transportation Office (LTO) must be made to explain why it paid P3.15 billion in full to four companies for its new online licensing and registration portal despite a number of defects that generated “massive disruptions” in the system, Senate Minority Leader Aquilino “Koko” Pimentel III said on Wednesday. The senator, citing the red flags noted by the Commission on Audit (COA) in its 2021 audit report on the LTO, called on the Senate blue ribbon committee to look into the allegedly questionable payments made by the transport agency to the contractors for the outsourced information technology (IT) project. The payment of such a huge sum was made to Dermalog Identification System, Holy Family … [Read more...] about LTO must explain P3.15-billion IT system blamed for delays