SunStar: Filipino values shine in high-end gathering

BEVERLY Hills – It’s a rough-and-tumble world and the Sorsogon-born go-getter was lecturing peers in international mega-business about personal values. Loida Lewis, past president of the National Federation of Filipino American Associations, is chairperson and chief executive officer (CEO) of TLC Beatrice LLC, the Lewis family investment firm. She is also chairperson and CEO of TLC Beatrice China, which operates retail convenience stores in four major cities in China. Following a fellow panelist’s remark during one of the sessions of the Milken Global Conference 2007, Lewis told entrepreneurs in the audience not to listen to what the speaker just said about doing business overseas. Despite the popularity of outsourcing nowadays to take advantage of lower costs in emerging economies, one should be cautious and approach things with a “grain of salt," Lewis said. Anyone looking to expand overseas should exercise due diligence in knowing and choosing the right people with the right values to employ, she added. Policies In China, for example, government policies can change abruptly and would adversely affect the business. For that reason it is best to take into the fold people who are part of the government. Lewis said that the big money is here and other countries still look up to the United States as the leading economy. For businesses needing funding, there is capital looking for companies with track records of making profits and with good strategies to make more money. Values Lewis, in an interview, said businessmen should have core values of integrity and take care of customers. Being in business, you must know how to make profit, know where you’re going, and observe the Golden Rule, she said. Every year an entrepreneur must set a goal—what is the sales goal and the income goal. One in small business and not taking salary must also bear in mind that the amount corresponding to the salary is not counted as part of profit, Lewis said. Lewis took over the family business a year after the death of her husband Reginald F. Lewis in 1993 and started liquidating non-performing assets of the company. Her company also has a meat plant and a school in Bicol. Panelists The other members of the panel debating the pros and cons of doing business in other parts of the globe were Graham Clempson, European managing partner of Mid Ocean Partners UK; David Kim, CEO of Baja Fresh; Eran Salu, owner, publisher and CEO, Business Leader Media and Matthew McGovern, managing director, SBI Group. The moderator was Rafael Pastor, a former News Corp. executive who is now chairman and CEO of an organization for chief executives, Vistage International. The yearly Milken Institute Global Conference is a high-end gathering of decision makers and according to company officials, more than 3,000 participants, mostly coming from other countries, were at the three-day 10th anniversary, with the theme “Shaping the Future" and held at the Beverly Hilton. Issues The sheer size of the 470 panelists, tackling such gut issues as our dependence on oil, the Internet, the environment, real estate, private equity, changing the world order, philanthropy, education, business and the economy, politics, health care and others, was simply remarkable and one had a picking of about a dozen sessions—some private—press briefings, book signings, receptions and other activities going on at the same time in different suites of the venue. The small business workshop was among the last before the conference wound up, only minutes after California Gov. Arnold Schwarzenegger left the massive International Ballroom. Sen. John Kerry addressed the audience and, accompanied by wife, Teresa Heinz, signed books on climate change. Highlights The other conference highlights included sessions with former astronaut Sally Ride, director Sydney Pollack, Kirk Douglas, architect Frank Gehry, Andre Agassi, former congressman Harold Ford Jr., Los Angeles Attorney Rocky Delgadillo, Los Angeles Police Department chief William Bratton, Ted Turner and others. The leading companies competed for space to have their businesses and logos exhibited in the area. According to its web site, the yearly global conference is the largest such event in North America, an unparalleled opportunity to network and to exchange ideas with a large, diverse and influential group of people who have come from more than 50 countries. It saves busy executives time because they can meet—in one place, at one event—global thought leaders from a wide range of disciplines. The Milken Institute is billed as a non-profit, non-partisan economic think tank, whose scholars publish research papers and conduct conferences on global and regional economies, human capital, demographics and capital markets. Passions According to a biography, the career of Michael Milken, its chairman, has mirrored his three main professional passions—medical research, education and finance. He co-founded the Milken Family Foundation in 1982 and also heads FasterCures–a Washington-based think tank that works to remove barriers to progress against all life-threatening diseases and the Prostate Cancer Foundation. He also devoted much time and money to charity over the past three decades. With an estimated net worth of around $2.1 billion as of 2007, he is ranked by Forbes magazine as the 458th richest person in the world. - contributed by Dionesio C. Grava, SunStar