Wise words from Washington Sycip

Sycip with American industrialist John Rockefeller

As he sits on his svelte swivel chair, one can see an oak table filled with books and broadsheets that fill his daily news diet.

His side table, on the other hand, is lined with photographs taken with American and Philippine Presidents (Ronald Reagan and Bill Clinton, and Ferdinand Marcos and Fidel Ramos, respectively), as well as American industrialist and philanthropist David Rockafeller.

Every inch of his desk, meanwhile, is filled with small turtle and owl figurines, a collection that grew on its own.

Today, Sycip smiles at how he has become “flooded with owls,” animals which are usually associated with wisdom.

The turtles, meanwhile, may symbolize his long life or  8 – almost 9 – decades of inspiring others.

Beyond money making

Sycip is considered in history as the man who successfully built the accounting profession in the country.

Now, Filipino practitioners rule and thrive amid the might and reach of Caucasian-led accounting firms.

Despite this feat, however, Sycip wants to leave more behind – something that has to do with giving back to society.

He wants to go beyond just making money – Sycip found purpose in helping those who are in need. He has a 3-pronged approach to reducing poverty – better access to basic education, microfinance and health services.

“The objective is to reduce poverty because if the nation is poor, a democracy doesn’t work,” Sycip said.

He singles out his education-related philanthropic engagements as “the most demanding of the non-paying jobs I have. There is a perfect correlation between poverty and education.”

Sycip currently supports Synergeia Foundation, a non-governmental organization (NGO) that aims to lower the school dropout rate in the country.

Founded by Milwida “Nene” Gueverra, the award-winning organization taps the help of local governments, other NGOs and the private sector.

"I wish I didn't have to be involved in so many problems of a developing nation. But if you have a conscience, you cannot not help," Sycip said.

Fair play

According to Sycip, President Benigno “Noynoy” Aquino III’s proposal to expand the basic education cycle to the global standard of 12 years to the current 10 could work if subsidies to state colleges are reduced.

He noted that some students in state colleges can actually afford the cost of tuition in exclusive schools, citing his own family.

Having said this, Sycip suggested that these students should be required to pay more.

"My son-in-law could afford to pay 4 times the tuition in Ateneo compared to UP (University of the Philippines). Why should my tax money or any tax money subsidize him? Tuition in UP should be higher for people like my son-in-law,” he said.

Sycip added, “There's a bracket but it should be much higher so a student who could afford to spend more would pay the same as Ateneo.”

Payback

After getting his honorary doctorate from UP, Sycip gave the school P10 million – P1 million for every Sycip that studied there.

Sycip with ivory owl

He believes that they paid substantially less than what they could afford, so Sycip wanted to match the real cost of their children’s education.

Sycip also proposed to the UP leadership to raise tuition for students who owned cars, charge them for parking, and use collections from additional tuition to offer more scholarships to the poor.

“If you want 12 years, you could raise money in so many different ways. It can be done easily. State colleges are second-class colleges. You have to subsidize UP which is supposed to be the top university in the Philippines. You can decrease the subsidy by collecting from the rich parents who are sending their children there,” he said.

He added, “Save money from college education or state colleges that have no reason to exist. You put up second-class colleges in different regions, that would decrease the amount of the education budget that you can have for additional 2 years.”

Such ideas are perhaps no longer strange coming from a man who, back when the Asian Institute of Management (AIM) was just starting out and there was no leading graduate school in Asia, sought to open a summer program that would give poor Filipinos an opportunity to get a top-notch graduate school education in the country (rather than say, have them go to America).

Together with Ambassador Ramon del Rosario Sr., Sycip brought in Harvard professors to assist in establishing a graduate school in the country.

Letting go

Admittedly not a fan of migrant labor, Sycip frowns on the country's compunction to send its skilled workers abroad due to the lack of opportunities here.

"Rich people send money out, poor people remit money in. UP doctors are educated with public money. We should charge countries that receive doctors," he pointed out.

He laments the fact that while the remittances from overseas Filipino workers have helped cushion the local economy from major bumps, the exodus of professionals deprives the Philippines of the crucial skills and expertise.

For someone who gave up an opportunity to build a career in another country early into his adult life, Sycip certainly knows where he speaks.

Hope for the future

Turtle tells old man: Take it easy

As the country finds itself at the crossroads of change under a new President, Sycip believes that Aquino is on the right track and has high hopes he can turn the poverty situation around.

"I'm convinced that the President is clean, so he can clean up corruption, so the country can be much better," he said adding, "I have full confidence in Noynoy."

He also cites Finance Secretary Cesar Purisima, a former managing partner of SGV. "He knows where the loopholes are."

Sycip finds an appropriate symbol for hope in the country’s future in his favorite brass sculpture in the office – the “Tree of Life” designed by a young Filipino engineer.

"The Filipino of many talents cannot die. There's a future if there's proper leadership," he said.

Finding balance

Beyond the consultations and speaking engagements, Sycip finds his balance.

He makes time for himself and his family. Last year, for one, he made room for a visit to the opera.

And despite having seen “Cats” in the US, Sycip made it a point to catch the musical here in the Philippines, which is topbilled by world-renowned singer and theater actress Lea Salonga.

From his collection of turtle and owl figures, he pointed out a framed watercolor print on the wall, which he brought from Shanghai.

In it, an old man was getting advice from the turtle, asking it what he should do, to which the turtle replied, “Take it easy.”

Asked if he’s going to follow the turtle’s advice, Sycip demurs and says there’s still too much to do.

Source: http://www.abs-cbnnews.com/insights/08/01/10/wise-words-washington-sycip