Gaetsaloe�s grand turnaround plan for BDC
Friday, October 16, 2015
Gaetsaloe
In the eyes of its youthful looking new managing director, Bashi Gaetsaloe, the expected return to profitability is evidence of the first fruits of an ambitious turnaround plan which targets doubling the corporation’s P3.6 billion balance sheet in five years.
When he took over the reigns at the government investment arm last year, BDC was a troubled entity weighed down by some subsidiaries that perennially bled losses.
It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...