SUMMARY / RELATED TOPICS

State-owned enterprise

A state-owned enterprise is a business enterprise where the government or state has significant control through full, majority, or significant minority ownership. Defining characteristics of SOEs are their distinct legal form and operation in commercial affairs and activities. While they may have public policy objectives, SOEs should be differentiated from government agencies or state entities established to pursue purely nonfinancial objectives; the terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable. Next, it is contestable under; the term "enterprise" is challenged, as it implies statutes in private law which may not always be present, so the term "corporations" is used instead. Thus, SOEs are known under many other terms: state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, government-owned corporation, government-sponsored enterprises, commercial government agency, state-privatised industry public sector undertaking, or parastatal, among others.

In the Commonwealth realms in Australia, New Zealand, the United Kingdom, country-wide SOEs use the term "Crown corporation", or "Crown entity", as cabinet ministers control the shares in them. The term "government-linked company" is sometimes used to refer to corporate entities that may be private or public where an existing government owns a stake using a holding company. There are two main definitions of GLCs are dependent on the proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest, while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC; the act of turning a part of government bureaucracy into a SOE is called corporatization. SOEs are common with natural monopolies, because they allow capturing economies of scale while they can achieve a public objective. For that reason, SOEs operate in the domain of infrastructure, strategic goods and services, natural resources and energy, politically sensitive business, banking, demerit goods, merit goods.

SOEs can help foster industries that are "considered economically desirable and that would otherwise not be developed through private investments". When nascent or'infant' industries have difficulty getting investments from the private sector, the government can help these industries get on the market with positive economic effects. However, the government cannot predict which industries would qualify as such'infant industries', so the extent to which this is a viable argument for SOEs is debated. SOEs are frequently employed in areas where the government wants to levy user fees, but finds it politically difficult to introduce new taxation. Next, SOEs can be used to improve efficiency of public service delivery or as a step towards privatization or hybridization. SOEs can be a means to alleviate fiscal stress, as SOEs may not count towards states' budgets. Compared to government bureaucracy, state owned enterprises might be beneficial because they reduce politicians' influence over the service.

Conversely, they might be detrimental because they reduce increase transaction costs. Evidence suggests that existing SOEs are more efficient than government bureaucracy, but that this benefit diminishes as services get more technical and have less overt public objectives. Compared to a regular enterprise, state-owned enterprises are expected to be less efficient due to political interference, but unlike profit-driven enterprises they are more to focus on public objectives. In Western Europe and Eastern Europe, there was a massive nationalization throughout the 20th century after World War II. In Eastern Europe, governments dominated by Communists adopted the Soviet model. Governments in Western Europe, both left and right of centre, saw state intervention as necessary to rebuild economies shattered by war. Government control over so-called natural monopolies like industry was the norm. Typical sectors included telephones, electric power, fossil fuels, airlines, iron ore, postal services and water.

Many large industrial corporations were nationalized or created as government corporations, among many others: British Steel Corporation and Irish Sugar. A state-run enterprise may operate differently from an ordinary limited liability corporation. For example, in Finland, state-run enterprises are governed by a separate ac

1990 PBA First Conference Finals

The 1990 PBA First Conference Finals was the best-of-7 basketball championship series of the 1990 PBA First Conference, the conclusion of the conference's playoffs. Formula Shell Zoom Masters and Añejo Rum 65ers played for the 45th championship contested by the league. Formula Shell took home its first PBA title by winning their series against Añejo Rum 65ers, four games to two. Game Six resulted in a tumultuous ending as the 65ers walkout of the playing court with still 2:52 left in the second quarter and the Zoom Masters on top, 62-47. Añejo paid a heavy fine total of P550,000. Ronnie Magsanoc shatter a 115-all deadlock with a crucial six-point swing within 21 seconds, a three-point shot and a three-point play off a foul by Rudy Distrito that gave the lead to the Zoom Masters for good at 121-115. Bobby Parks shot nine of Shell's last eleven points in the final 2:49; the 65ers rallied back behind four straight points by Sylvester Gray to close within one, 131-132, with 13 seconds left. Bobby Parks was fouled by Añejo playing coach Robert Jaworski and his two free throws decided the outcome of the game.

Añejo led by as much as 14 points, 108-94, with six minutes to go in the final period, the never-say-die Shell Zoom Masters managed to trim down the deficit to three points, 125-128, on six triples by Ronnie Magsanoc. Shell allowed Añejo to take the first quarter lead, 35-24, but spewed fire all over in the next three quarters leading by 31 points in the final quarter. Ronnie Magsanoc hit six triples and finish the game with 34 points, the Zoom Masters netted 42 points from fastbreaks and shot a high 59 percent from the field, sinking 59 of 100 tries. Ronnie Magsanoc released seven booming triples in a career-high 36 points in a dazzling show, including a brilliant steal off Philip Cezar with few seconds left in overtime, Shell on top, 136-135. With still 2:05 in the first quarter, Añejo leading 27-23, Rudy Distrito smacked Ronnie Magsanoc, attempting a three-pointer, with a hard, closed fist which sent Magsanoc crashing to the floor, the hard foul affected his shooting throughout the game.

Shell's Arnie Tuadles provoked for what happen to Magsanoc committed a dangerous foul off a driving Chito Loyzaga in the second quarter, Loyzaga suffered a swollen left eye. Both Distrito and Tuadles were fined P 3,000 each. A series of turnovers by the 65ers enabled the Zoom Masters to launch a 13-0 bomb that parlayed a rather slim 26-21 lead to a 39-21 bubble en route to a 40-26 count at the close of the first quarter. Sylvester Gray banged in 12 of Añejo's first 19 points in the second quarter, cutting the Shell lead down to a single digit, 45-53, but Gray was whistled for his fourth personal with 5:42 before halftime; the Añejo import got his fifth as he tried to snatch the ball away from Paras with 4:01 before lemontime. With the score pegged at 62-47 for Shell with 2:52 remaining in the second quarter, Bobby Parks squeezed in between Rey Cuenco and Dante Gonzalgo, referee Rudy Hines slapped Cuenco with his fourth personal and from complaining too much, Rey Cuenco got a technical and this seemed to irked him more as he tapped referee Rudy Hines' nape, earning him his second technical and was ejected for the ballgame.

Following an Añejo timeout and a commercial break, Añejo playing coach Robert Jaworski went to the officials table as photographers and cameraman were all over him. An angered and pre-dominantly Añejo gallery began throwing all sorts of debris that rained on the hardcourt and play had to be stopped; the 65ers went to their locker room with team manager Bernabe Navarro leading the walkout and the Zoom Masters going to their locker. PBA Commissioner Rudy Salud gave both teams 10 minutes to get back to the hardcourt; the Shell team went back but the 65ers did not return. Commissioner Salud gave two 90-second ultimatum for Añejo but the 65ers were never to be seen again, it was only the Zoom Masters were declared champions by game forfeiture. Due to the walkout, Añejo did not claim their runner-up trophy for this championship series; the trophy is displayed at the PBA's head office in Libis, Quezon City. PBA official website

Bhutan Broadcasting Service

The Bhutan Broadcasting Service is the state-owned radio and television service in Bhutan. A public service corporation, it is funded by the state and it is the only service to offer both radio and television to the kingdom, is the only television service to broadcast from inside the Bhutanese border; the use of telecommunications is governed through the Information and Media Act of 2006. For many years, Bhutan did not have modern telecommunications; the first radio broadcasts commenced in November 1973, when the National Youth Association of Bhutan began radio transmissions of news and music for a half-hour each Sunday, under the name "Radio NYAB." The transmitter was first rented from a local telegraph office in Thimphu. The government took over Radio NYAB in 1979, renamed it the Bhutan Broadcasting Service in 1986, with expansions in radio scheduling as well as construction of a modern broadcast facility occurring in 1991. For a long time, Bhutan was the only nation in the world to ban television.

The first night of television broadcasts occurred on June 2, 1999, on the night of the Jigme Singye Wangchuck's silver jubilee. Shortwave radio reached all of Bhutan in 1991. In June 2000, FM stations opened in the south and west of the country, expanding to central Bhutan in January 2001. By the end of 2005, FM radio service reached the entire country. Since November 2009, radio airs for 24 hours a day, with the low listening times of 2 a.m. to 6 a.m. featuring repeats of the previous day's schedule. 14 hours and 45 minutes of each broadcast day is broadcast in Dzongkha, with 3 hours and 45 minutes broadcast in English, 2 hours and 53 minutes in Sharchop and an hour and 58 minutes in Nepali. BBS is the first television station in Bhutan. News and entertainment programs were broadcast for one hour in the evening, seven days a week, but expanded to four hours in December 2004. Once limited to the capital city, television service spread to the entire Kingdom via satellite in February 2006, it operates 31 TV stations across the country.

In 2008, BBS expanded their television schedule to air from 6 p.m. to 11 p.m. Most of the programming is aired in Dzongkha, but two current events and news programs each night are aired in English; the programming from the previous night is repeated from 6 a.m. to 11 a.m. the next morning. Special entertainment and music request programs are aired between 3 p.m. and 6 p.m. on Weekends. BBS TV - BBS' flagship channel, it broadcasts news and current affairs, education and culture, it launched on June 1999 as first television channel of Bhutan. BBS 2 - BBS' general entertainment channel, it was launched in 2012. Although BBS is popular among the Bhutanese people, mismanagement has plagued its growth; the government's attempts to keep its actions and content under its control include deputing senior civil servants as CEOs and toying with the annual budget string. Anchors disappear from the screen. One of the producers has sued the BBS in court. On December 6, 2012, the Indian Intelligence Bureau red flagged the Bhutan Broadcasting Service as a hate channel among 24 others for beaming anti-India programmes.

A proposal for action was sent to the Indian Ministry of Home Affairs. Media of Bhutan Telecommunications in Bhutan BBS.bt – Official Website Information and Media Act of 2006