Goodbye Mr Chip

I read a copy of Wall Street Journal's article on the departure of Chip Goodyear and the reason given by Temasek is "differences regarding certain strategic issues." Could this bungling be avoided from day one and not happen at all? The assets managed by Temasek and the interests and objectives are bound to straddle across strategic and highly sensitive area. How could these be screened away from a foreigner who is the CEO of the organisation? Could Goodyear be asking too much and wanting to know too much that the strain becomes unbearable? It is quite ridiculous to engage a foreigner to manage the strategic assets of a nation and believe that nothing sensitive will be divulged. Now, can we expect a kiss and tell autobiography or movie in the near future? The royalty fees is going to be quite substantial and irresistible.

The new way forward

The headline in the ST today, Surgeons cleared but hospital was negligent. This was about a case where the kidney donor died of internal bleeding after the operation. The judge found that 'the hospital had been "negligent and had breached it's duty" when it failed to monitor the patient during those 90 minutes after her operation. It was reported that during an autopsy it was discovered that 'clips had apparently slipped from her cut renal artery' and she died from internal bleeding. Who is the hospital by the way? So it is the failure of the hospital to do its job thoroughly. And the hospital is found guilty and has to pay damages and costs. This is very similar to the minibond fiasco when the parties found responsible and punished were organisations. No human beans were involved or responsible. This is a good way to go forward. No need to be personal, just blame the organisation and punish the organisation.

New citizenship – strike lottery!

Becoming a new citizen here is as good as striking lottery. The first thing they are going to receive is the GST rebates and maybe new Singapore shares when they are given out. Next, a bigger bonus will come from HDB. First time buyers will be entitled to a $40k grant. Tiok beh pio ah!!! And more govt subsidies in hospitalization and medical bills. Wow, bee tang! Membership has its privileges. What have new citizens contributed to the nation to be entitled to the full benefits of citizenship? Below is a petition to Obama that is circulating for signatures. SOCIAL SECURITY CHANGES It does not matter if you personally like or dislike Obama. You need to sign this petition and flood his e-mail box with e-mails that tell him that, even if the House passes this bill, he needs to veto it. It is already impossible to live on Social Security alone. If the government gives benefits to 'illegal' aliens who have never contributed, where does that leave those of us who have paid into Social Security all our working lives? As stated below, the Senate voted this week to allow 'illegal' aliens access to Social Security benefits. Attached is an opportunity to sign a petition that requires citizenship for eligibility to that social service. PETITION for President Obama: Dear Mr. President: We, the undersigned, protest the bill that the Senate voted on recently which would allow illegal aliens to access our Social Security. We demand that you and all Congressional representatives require citizenship as a pre-requisite for20social services in the United State s.

Silly thoughts and silly excuses

The departure of Chip Goodyear from Temasek has spawned a series of silly talks and excuses in all the gossip corners. There were things like globalisation needs a foreigner to front the unit. Now I know why we employed so many foreign talents. Or we need a foreigner to be more transparent. For this I will suggest just wearing a see through plastic sheet will be better. And, yes, if we want to invest in America, we need a foreigner, or better still, an American to show our sincerity. Shit, who would want to put more money into a country with an economy that can go bust any time or with a dollar that may turn into banana money. Now what else were reported? Oh, fine for attending meeting late. That must be a super talented idea. Saving money for the organisation. I will wait to hear more funny stories. But mind you, all these funny episodes do not come cheap.

That deadly deficit hangover

Tharman was talking about economic principles and the need for exit strategies and direct, targeted help. On govt spending and fiscal policies he warned that govts need an exit strategies for over spending or else the bubble will burst. This tickles my thought about exit strategies for the high property prices and the payback of our CPF money. What kind of exit strategies are there to prevent the bubble bursting, or to prevent the poor 99 lease holders from seeing their multi million dollar properties turning to 0 value when the leases expire? And the huge CPF debt owed to the CPF contributors, how and when would they be returned? Delaying payout, shifting the goal posts, more schemings, would only delay the problems but would not solve it. In fact the problem will only snowball unless there is a workable exit strategy to pay back when the money is due. The two nightmares that Singaporeans are facing are, one, when their properties, worth millions of dollars, become nothing. The second nightmare is when they realise that the CPF money is only a dream, to feel good, to be happy reading the numbers on a piece of paper and feel very rich. And yes, Tharman still thinks that it is a bad idea not to tax on basic necessities. It is better to tax on them and then targetted the money collected to those who need the money. An excellent strategy which I still don't agree. Just like the strategy of escalating property prices.