SMRT profit soars to $150 mil

Full year profit soared despite higher fuel and operating cost. Profit rose by 10.7% due to higher ridership and other incomes. So will fare price come down? I don't think so looking at oil prices. I think more increases are likely if the mindset and past precedence are to go by. And the reasons of the past can always be pushed out again and again. And don't forget that they are answerable to the shareholders to bring in ever increasing profits.

The internet revolution

Imagine all these years when the supremacy of the press was unchallenged. The editors, the journalists and reporters were in such a comfortable and commanding position to write whatever they want in the press. And the masses just had to read whatever that were in prints. Internet is such a revolution as far as spreading news and information is concerned. And the coverage of internet is world wide. Its readership can only keep on going up while the printed media is limited to a paid readership, and shrinking. China alone has 220 mil net users, surpassing the US. The talk back process, the challenge to official views, the cynicism and criticism of tooth and half truths must be quite a shocking experience to the editors and journalists. Suddenly the comfort zone vanishes and they have to face judgement day for every piece of article they write. No longer untouchables. And if they write nonsense, they will look nonsensical. It is a brave new world.

Appalled by the state of corporate governance

Theresa Goh was so appalled by the reports on corporate governance at CAO that she wrote to Today with 7 pointed questions. 1. Is it right For CAO not to appoint a CEO after the fiasco 3 years ago? 2. Is it decent for the Chairman to be given an above average remuneration in director's fees, assuming that he is de facto CEO? 3. Is it right for the CEO to appoint independent directors from his network? 4. Is it decent for Wang Kai Yuen to accept more than 14 directorships? 5. Is it right for David Gerald, Chairman of SIAS, to endorse CAO's governance standards, based on seemingly misleading statements given by them... 6. Is it decent for him to say 'There is no law that prevents them from taking up more positions so long as they can discharge their duties and make sure that the shareholders are not disappointed? This is the sad state of affairs of corporate governance.

I am so angry....and so helpless

I used to be the one that called the shot. I decide what people should read, should know and what I think they need not know. I set the agenda on what people should be thinking about, should be talking about or should not be thinking about. You see, I decide what is in the people's mind. And sometimes I tried to be generous and invite people to say what they want to say. Then I went through them and chose what was agreeable to me and allowed it to be said. And those that I did not like, I threw them in the waste paper basket. And they were so helpless. Some felt very frustrated as their pet topic would not be given a chance to be aired. Whew! I was that powerful. Not that I could not do the same things now. I am still doing the same things. But people are not listening to me anymore. They simply ignore me. They went to cyberspace and say whatever they want and to whoever they want. Things that I do not want them to say they keep on saying. And I can't do anything about it. They now set their own agenda. They think what they want to think and decide want they think is important and what is not. And there are things that I do not want them to talk about for good reasons but they keep talking about them, and fanning them. And I am powerless. I cannot throw them into the waste paper basket any more. Neither can I ignore them. It is they who are ignoring me. And they even criticise me. They dare to criticise me. My god! What is happening?

Is there a disconnect?

Just a few months before the Malaysian GE, UMNO did not see any disconnect with the people. UMNO believed that it was in an unassailable position, that the bumiputras would be strongly behind them and the opposition could not do anything about it. They kicked their BN partners on their arses. They kissed the keris in a threatening manner. They tore down temples and places of worship of non Muslims at will. They cut down education grant for schools for the non Malays, and they took and took, to fill up their bank accounts. They never saw it coming. They believe there was no disconnect. Is there a disconnect south of the causeway? No, no signs of any disconnect. The govt is with the people and the people all behind the govt. All the decisions and policies and explanations were well received by the people. So where got problem? The third pay rise for the ministers will be coming soon. All is well.