Case taking on Nets

It is good that case is taking on Nets for the impending increases in its levy. And I support Yeo Guat Kwang's reasoning. 'They have been given this monopolistic mode of operation because we see this as a basic infrastructure, to provide a basic mode of payment for all Singaporeans. So, they can't just come out and tell Singaporeans now "I see this as...a commercial decision."' Well said and well reasoned. I hope Case will use the same logic and take on other monopolistics infrastructure businesses and stop them from squeezing the people. Infrastructure and essential services were given monopolistic businesses as a service to the country and people. They must not be allowed to hijack them and keep raising their fees using commercial decision as an excuse. Lets see which monopolistic infrastructure organisation is next on Case's list. Keep up the good work, Case.

NKF story - A big sham!

The Straits Times Editor is angry. How could Richard Yong ran away so easily. It is just unbelievable in our squeaky efficient system that Richard Yong could sell off all his properties, got all his money and disappear into thin air leaving everyone mouth open wide wide. Lan lan so they said. An no one got any hint of all these happenings, that it was clear that he was going to scoot off! In the ST editorial, I quote: To say this is an unsatisfactory end to a scandalous episode in a matter of public trust is an understatement. Singaporeans who have ever gien money to charities big and small, no questions asked, have never been more incensed....This is not an academic question. Substantial amounts in damages could be involved. It is conceivable cases of breach of a public duty to care can crop up from time to time. What more can I say?

infidelity in language

Ang Mo professor says Singlish good leh Is this another form of infidelity? Should we take the Ang Mo professor's comment as a compliment, an encouragement to go on and develop our version of Singlish? Quite nice actually. Then lin peh can speak Singlish to the Filipinos and they can reply in Tagalog English and our Malaysian and Indonesian English all together. Shiok, Singapore will be so colourful. Si peh ho. This is another sign of progress.

Is it naive or stupidity or something else?

I heard over the news on the IPO listing of CitySpring and how the fund managers were paid more than $60 mil in about four months on a scheme based on the stock's performance in the market. And the amount was almost double the whole years profit of the company! The payment was due to a contractual agreement and formula and perfectly transparent and aboveboard. So no hanky panky stuff. The comments I heard was that we were a young economy, can't believe that, so we are ignorant or naive or immature, and signed an open ended performance formula. Stupid is a word that was not used. Being conned was not said. So it is excusable for a first world country, with so many talents, local and foreign, to get into such an agreement. Would the CitySpring owners feel good about it? Any average middle manager will know that one cannot have an open ended formula for performance bonus, bonuses for staff or senior management. There must be a cap, a French cap will be quite appropriate, to prevent exorbitant payouts. It is so elementary and after so many years of progress, it still happened. What a joke!

Dwindling purchasing power

At the rate the prices of things are shooting up, whatever subsidies will quickly be eroded away. Those lower income earners, including all under $5k household income, will feel the squeeze. The purchasing power of their dollar is getting smaller by the day. The only people who can cushion against a lost of income from a dwindling dollar will be those who can command a 20% or 30% salary increment. I have yet to read in the media how much has it cost the people with all the increases taking place, the 2% gst, housing, food, medical fees, transportation, etc etc. How much of the dollar has already been wiped away without the people spending the money?