ABS-CBN CORPORATION

ABS-CBN Corporation is a Philippine media and entertainment conglomerate

headquartered in Quezon City, Metro Manila. In terms of sales, operating profits, net income,
cash, equity, market capitalization, and employee count, it is the Philippines' biggest
entertainment and media conglomerate. The integration of Alto Broadcasting System (ABS) and
Chronicle Broadcasting Network (C) resulted in ABS-CBN. ABS-CBN Corporation is the
Philippines' most powerful media and entertainment company. The main focus is on content
development and distribution for domestic and foreign audiences, including broadcast,
streaming, and over-the-top channels, cable, satellite, cinema, concerts, and online radio.

ABS-CBN also runs a number of channels, including local tv, radio networks, global
over-the-top (OTT) services, and internet platforms. In the Philippines, it is also involved in
cable, satellite, and internet networks, as well as music and music publishing, consumer
electronics and licensing, multimedia services, magazine and book publishing, production and
post-production services, telecommunication services, money remittance, freight forwarding, TV
shopping services, food and restaurant services, theme park construction, and management.

After 13 hearings, a House of Representatives committee —  voted by a vast majority to

reject ABS-request CBN's to renew its broadcast franchise. Since the franchise expired in May
2020, the network was forced to go off the air. Facing the following issues:

 Lopez’s dual citizenship 

 Issuance of PDRs 
 ABS-CBN TV Plus Box, KBO pay-per-view
 Failure to regularize employees 
 Tax issues 
 Biased reporting, meddling in politics 

Upon facing these ahead of time, ABS-CBN should have renewed the contract before hand,
ABS-CBN company should have settled their financial status and payed the tax in accordance
to their liability to pay, they should have avoided things that can ruin their company, the people
working their, and its reputation.

In conclusion, ABS-CBN deserves not to receive a renewal of contract from the Philippine
government. Since they did not abide the law and continued its service while in full aware of
their lapses and irresponsible acts. Clearly, ABS-CBN do not want this to happen, but ignorance
of the law excuses no one. If I were there Financial Manager or someone who has the position
to advice them, I would frankly tell them to renew the contract and fix their liability and pay the
exact amount of taxes they neglected to pay. And if they still defend that they have payed taxes
regularly, then they should provide factual evidences in the congress. Or if that wouldn’t solve
anything, we can apply for a new franchise if the renewal is truly nullified. Application for new
renewal can be granted by the congress if ABS-CBN is willful to face its debts, the accusations,
and its fault.
 Washington Mutual

Washington Mutual was a cautious savings and loan institution. It was the biggest failing
bank in US history when it collapsed in 2008. WaMu has over 43,000 staff, 2,200 branch offices
in 15 states, and $188.3 billion in deposits at the end of 2007. 1 Individuals and small
businessmen were the company's primary clients. Retail banking accounted for nearly 60% of
its revenue, while credit cards accounted for 21%. Just 14% of its revenue came from home
loans, but it was enough to wipe out the majority of the business. It was bankrupt at the end of
2008. Financial services are provided by Washington Mutual, Inc. Savings deposit accounts,
home mortgage lending, retail banking, and a variety of other financial services are all available
through the company.

There were five reasons why Washington Mutual collapsed. It did a lot of business in
California, for starters. There was a worsening of the housing market there than in other areas
of the region. Home prices began to decline across the country in 2006. Since hitting a high of
nearly 14% year-over-year growth in 2004, the trend has slowed. The national average home
value had dropped 6.5 percent from its 2006 peak by December 2007. Housing costs have not
dropped in decades. There was approximately ten months' worth of housing inventory
nationwide. There was over 15 months' worth of unsold inventory in California. Normally, the
state kept six months' worth of supplies on hand. At the end of 2007, the majority of mortgages
were greater than the home's value. WaMu has gone out of its way to be conservative. It
recently completed 20% of its mortgages with a loan-to-value ratio of more than 80%. When
house prices fell, however, it was no longer a consideration.

The second cause for WaMu's downfall was its hasty expansion of its branches. As a result,
it was in so many markets in inconvenient regions. As a result, it issued an excessive number of
subprime mortgages to unqualified borrowers. The third and the crash of the secondary market
for mortgage-backed securities in August 2007 was the seventh. WaMu, like many other banks,
was unable to resell these loans. Because of the falling housing prices, they were paying more
than the houses were worth. The bank was unable to raise funds. It wrote off $1.6 billion in
defaulted mortgages in the fourth quarter of 2007. Bank legislation required it to set aside funds
to cover potential risks. As a result, WaMu's net loss for the year was $1.9 billion. It had a $67
million net loss for the year. That's a far cry from its $3.6 billion earnings in 2006.

The bankruptcy of Lehman Brothers on September 15, 2008, was the fourth. WaMu
depositors became alarmed when they learned of this. For the next ten days, they deducted
$16.7 billion from their savings and checking accounts. It accounted for more than 11% of
WaMu's overall deposits. According to the Federal Deposit Insurance Corporation, the bank
lacked adequate capital to carry out day-to-day operations. The government began searching
for potential investors. The bankruptcy of WaMu is best understood when seen in the light of the
2008 financial crisis. The moderate size of WaMu was the fifth factor. It wasn't too high to fail,
but it wasn't too small to succeed. As a result, unlike Bear Stearns and American International
Group, the US Treasury and Federal Reserve will not bail it out.

The things should have been done with Washington Mutual or the lessons to be learned:
 Allowing dealmakers to make all of their money up front would not succeed.
 Risks could be more closely linked than you thought. In other words, if a single
problem is serious enough, it will bring you down. The problem should have been
solved as early as possible.
  Purchasing a company without first thoroughly understanding it is very risky and
liquidity will vanish overnight in a crisis. WaMu should have settled and foresee their
debts and lessen the its worsening.

In conclusion, despite the fact that Washington Mutual is no longer in business, but its
lax lending practices could come back to haunt in the future. WaMu's 56,000 registered owners
were washed out, and bondholders were faced with billions of dollars in damages. However,
unlike so many other federal decisions in recent years, the WaMu agreement spared the federal
deposit insurance agency, making it an unqualified positive for taxpayers. If I were the Financial
Manager of Washington Mutual, I would advice them to secure their assets, funds, and make
regular payment to the creditors. Consider consolidating or paying the loans, and seek legal
assistance if necessary. They should have not taken larger risk, knowing the Lehman Brother’s
downfalls, they should have been mindful on taking another investments and never put up a
following expansion knowingly what debts they have faced. In that way, maybe, the Washington
Mutual may be saved from bankruptcy.