Just after midnight one sultry Friday in August 1987, Manila became a battleground as rebel troops attempted a coup against Philippine President Corazon Aquino. Two blocks from the besieged presidential palace, insurgents opened fire on a car carrying Aquino’s only son, a bespectacled and soft-spoken 27-year-old junior insurance executive nicknamed Noynoy.
The former secretary of Imelda Marcos was found guilty of attempting to sell four missing paintings and failing to report taxes on the one that she did sell, a Claude Monet water lilies painting for $32 million, according to Manhattan District Attorney Cyrus Vance Jr.
Destruction from Super Typhoon Haiyan, the most powerful storm on record to strike the Philippines, shows the task facing President Benigno Aquino to curb the death toll in a country prone to natural disasters.
Philippine President Benigno Aquino said there will be no hero’s burial for the late former dictator Ferdinand Marcos under his watch. Marcos’ body had been kept in a refrigerated crypt for more than two decades in his home province in Ilocos, north of Manila.
It is often a fool’s errand to predict turning points in the more erratic Asian economies. Nowhere is that truer than the Philippines, whose greatest consistency seems to be disappointing the optimists.
Coca-Cola was losing the Philippines, where failure might have been the beginning of the end of our global business. By 1981, the nation was the world’s 10th-largest soft-drink market, but Pepsi had a 2-to-1 market share and the Coke bottler, owned by the Soriano family’s San Miguel Corp., warned that it could no longer sustain its losses unless Coke shared the burden.