DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

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Managing Business In A Better Way

Dave Brennan started his Del Monte career as a management trainee at the Philadelphia sales office. He spent a few years with Del Monte's New York and San Francisco offices before he was assigned to the Philippines.

Prior to his promotion, Dave was Superintendent for Production Services in Bugo, and Manager for Financial Planning and Review at the Makati office. At Makati, he used to report to then Finance Vice President and now Del Monte Foods Executive Vice President for Worldwide Operations.

He has seen the company through various economic scenarios and has been one of the key figures behind our high profitability status.

Dave's group, which includes our Corporate Accounting, Financial Planning and Analysis, Management Information Systems Development and Support Services, Tax, Legal and Insurance, and Corporate Audit units, has a manpower complement of 158 professional and highly committed men and women assigned in Bugo, Plantation and Makati.

Dave, 43, is married to the former Louise Becker of Pennsylvania, (U.S.A.). The couple has four children: Susan Elizabeth, 19, Alicia Marie, 14, Stephanie Anne, 13, and Paul Joseph, 9. The eldest is now attending college in Boston, Massachussetts, while the three other children are enrolled at the Brent School (Manila).

The Brennans live at Del Monte's executive residential compound in Cawayanon, Manolo Fortich, Bukidnon.

QUESTION: How do you view your team's role in our organization?

DAVE: We are managing our business a lot differently now than we have in the past. In the past we stressed income with less attention to balance sheet management, cash flow and managing our debt. Changes in our organization and ownership have affected us, but in a positive way. These changes have driven us to manage on a cash basis. As part of Del Monte Foods, and also accountable to our other owners and business partners (Del Monte Foods International and Kikkoman Corp.), it is DMPI' s responsibility to provide acceptable returns to those who invested in our company. Anyone who invests substantially (as all three did) is looking for returns.

While it may be said that we in Finance manage cash flow, it's not only us. It involves everyone. To generate cash the support and efforts of every functional area of the company are needed. But we have to provide each area accurate financial forecasts and timely information. We have to make sure that we provide the level of support and financial direction that each function requires. Fortunately, we have people who can accomplish that. And although we are managing our business in a different way, we're managing it in a better way. It has made us more aware of cash generation. In any business that's the bottom line.

Q: What is the philosophy behind our financial administration?

DAVE: We have an obligation to our business partners in both fiscal performance and financial reporting. We also have an obligation to all of our internal customers. We prioritize between these major obligations. But we always try to take care of our own first. If we do not give priority to our own backyard, in the long run both we and our customers would eventually feel it. When we say support, sometimes we have to be the bearers of bad news. When, for example, our inventory levels are too high, and because of that we have to borrow more money, we have to make people aware of that too.

Q: What level of cooperation/coordination among all operating units is needed for effective fiscal management?

DAVE: It's a misnomer when people look to Finance to provide all the numbers. While the burden of putting the numbers together, and analyzing and disseminating them falls on us, most of the inputs come from the many areas within DMPI. That in itself requires close coordination. In the process, I believe Financial people gain a greater appreciation for the other areas and visa versa. Teamwork, working together to accomplish our financial goals, is a must.

Q: What are the major challenges involved in fiscal administration?

DAVE: DMPI is a strong and successful organization. But that does not mean we have not and will not face challenges as we go forward. For example, the worldwide pineapple supply and demand situation and other market conditions can impact our profitability. The recent drought also hurt us. We are faced with a strong peso and high interest rates which have had an adverse impact on our business. We have to work closely with Operations to help contain costs and source our working capital requirements at the lowest cost possible to offset these factors. Our external environment also provides similar challenges. We have to be aware of what is going on around us and be able to react and adjust as the situation warrants. We cannot let negative economic forces and other external factors pull us down. As we manage for continuous improvement with emphasis on quality and customer satisfaction, I am confident that we will successfully meet these challenges and prosper for years to come.

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