Strangling the CPF golden goose

The CPF was the best thing that could happen to Sinkie workers. The high contribution rate was a bit painful for the start, but on hindsight it is actually planning for the ugly future that Sinkies would have to face. Sinkies must by now realize that their income is an income to last 3 or 4 life times.

They need the income to keep them alive during their productive years. Count this as one life time. They need an equal amount or more with inflation added, to keep them alive for another life time when they are unproductive or retired. They also need an income of an equivalent amount to bring up children. Now there are two big expense items equivalent to their life time expenses, housing and private transport if they want that comfort. And if they are unlucky, they need a much bigger sum, more than they need in a life time to pay for the days they need to be hospitalized.

A Sinkie needs to earn 5 or 6 times an income during his working years. Sinkie must divide whatever income he is getting today by 5 or 6 times. He can only afford to spend 1/5 or 1/6 of his income if he is to survive the journey. For a Sinkie earning $3000 per month, he can only spend a max of $600 if he is to survive to his retirement age. Actually the CPF was very well positioned to do the job until….

What the Sinkies did not prepare for, beyond their control, is that some wise guys got an enlightenment. They saw the huge sums of money in the Sinkies’ CPF and started to plan to use this for all kinds of things. Make public housing affordable according to how much the Sinkies can afford to pay from their CPF. They forgot that the Sinkies needed the money for a life time for many other needs. Now the CPF is practically empty or just enough for housing alone.

The CPF was the golden goose that lays the golden eggs. Now the eggs are gone or going. The goose is being made to lay more eggs but cannot keep up with losing the eggs. And when the goose is old and dry, when no more eggs can be laid, and no more eggs are left for winter, it is like a futile exercise. The golden goose is expected to lay a life time of eggs for the golden years. But the eggs have all been harvested, gone long before anyone knows what is happening.

Struck by lightning

Last evening on my way back, the sky was ominously dark. Lightning and thunder bolts were striking everywhere. It was like the gods in heaven were angry. Those under the shelter in the MRT stations should count themselves lucky not to have been in the open as the gods are blind and lightning can strike anywhere.

This morning I flipped through the papers thinking that the lightning could cause some damage to structures or even hitting people in the open. The golfers are particularly dangerous in such foul weather. Luckily there is no news of anyone being struck by lightning.

All peaceful under the heaven again. 天下太平.

The Sinkies have arrived!

For 46 years of nation building and wealth creation, Sin City has reached the peak of its destiny as the richest people in the world. Many are well educated and rich beyond anyone’s imagination. The workers are rich, the cleaners are rich, even the beggars are rich. In the high places, the top honchos have this craze to want to employ the angmohs to work for them, to call them boss and to order them around. They walked around with the angmohs hanging all over them like an accessory statement of having made it.

In the shopping centres and other working environments, foreigners were employed in great numbers to work at lesser pay. In the home front, maids from other Asean countries and even those from China and India could be found working for the aunties and uncles in the HDB. The lower middle class uncles and aunties are living in half a million dollar public apartments and served by maids. Some of these flat dwellers even have more than one maid. The affluence is widespread and flattering.

The table is about to turn with masters becoming servants. The employers of foreigners are getting a taste of their own medicine when the foreigners are starting to usurp their roles to boss around with the locals. A Pinoy, Carlos R. Pestano III alias Kaye Pestano, who claims to be a Process Engineer with “Seagate Technology International” has posted in his blog claiming that the locals are just rotten and working under him, that he is bossing all over them. And he proudly pronounced that they are here to stay, and the locals can lump it. The veiled contempt is now in the open.

This is shocking to many Sinkies. How could a Pinoy be so arrogant and said he is here to stay without the permission of the Sinkies? And horrors, Sinkies are working under him! There is outrage in the internet with many Sinkies crying for his blood. Some even complained to Seagate and Seagate has obliged by saying that the matter is being attended to immediately. Seagate has now made an apology to Sinkies and promised disciplinary action.

This cannot hide the fact that many Sinkies are now working under foreigners, under foreign talents, even if they acquired a brand new IC. What is stunning to the Sinkies is the fact that a Pinoy could spite them and talk about them with scorn, right here in Singapore. In his postings he bragged about Sinkies working for him not in the Philippines but in Sin City, the home of Sinkies.

What else can Sinkies do? Some may want to suggest to the Sinkies to reflect on themselves like when they were called doggies. Sinkies must by now realise that the fake and meek expression and demeanor of the foreigners here harbour a strong dissent and dislike for them. No matter how they tried to appease the foreigners and inviting them to free lunch and parties, the foreigners will never like the Sinkies. They are here only for the jobs and the money. Period. There are exceptions.

When the Pinoy find it up to it to look down on Sinkies in Sin City, I must say, the Sinkies have arrived, at the lowest rung of the people of Southeast Asia, below the Pinoys. This is the real spur that is needed on their hide. Ouch, it is painful huh.

Should Sinkies pay for the impending bus fare hike?

The almost instantaneous reaction by most Sinkies is no, they should not be paying for the pay hikes of the bus drivers. The robotic type will auto reply, if got improve in service quality ok lor. With so many pay hikes in the past, if every pay hike led to a little improvement in service quality, the services would have been perfect by now. Though the pay hike will in a way challenge the principles of cheap, better and fast workers, it seems that right from the top, from the ministers to the masses, there is a consensus and good justification for this pay hike. At least the ministers are saying so or suggesting so.

And the money must come from somewhere, or from someone. Who dunno? From the directors and top management? How could anyone be so audacious to think of this? It would affect their lifestyle and they may be less motivated to work for the bus companies and the service quality will be badly affected. There is still the spectre of corruption lurking in the shadow when they are not paid well. Do you really want this? From the shareholders? How can? The shareholders’ interests must be taken care of as they are shareholders of the company. They took risk of losing their money even in a monopoly business, big big risky. Don’t always expect the Govt to pump in $1b to the rescue.

If not the shareholders or directors or top management, then who? Cheng hu? The Cheng hu already promised to give $1.1b so how to ask for more? Cheng hu where got so much money? Reserves cannot touch.

I think the best source of fund for the pay hike of drivers must still come from the commuters. Some will willingly accept the increase if the bus operators can promise to improve the service quality. As for those who are not willing to foot the bill, one suggestion is to give them a $50 top up to sweeten and soften their resistance. After using up the $50, they will not feel the difference in the new fares, or even forgotten about the higher fares. They would get use to the new fares.

And for the stubborn ones, just tell them that the hike will not cost more than a plate of char kway teow a month. It will only amount to a few cents. They will not feel anything at all. A plate of kway teow a month would not cause them to tighten the belt. The commuters must get use to paying for quality service, for quality management and directors, and the interests of the shareholders. Nothing comes free. There is no free lunch. If they don’t pay, then they must be prepared for lower standard of public transportation.

When Sinkies were illiterate and ignorant

Up till the early 80s, the literacy rate of Sinkies was still not that high. Sinkies were also not so well travelled and they could be easily conned by all kinds of silly logic. They were thus treated as such and told of what was good or bad for them. That was forgiveable then.

One great theory was that privatisation would make govt owned or public services more efficient. And the reverse was equally true. Any private company that is nationalized or turned into a public company will immediately become a flop, inefficient and badly run. Sorry civil servants, I didn’t propound this theory. I was also told that it is so.

There is no need to bother about the quality of the people running it. No matter who, no matter how clever, how dedicated, how motivated, once a person is tasked to run a public enterprise, it would not work. On the contrary, no matter how stupid and silly the person is, let him run a private company, a privatized company, lo, behold, the company will become efficient and profitable.

This management theory should be taught in Harvard or at least in the local universities as the greatest management theory from Sin City.

Some are calling for the nationalization of the SMRT. How dangerous this is. The SMRT will definitely be badly managed and run at a loss. In fact if the civil service and the govt are privatized, things will definitely improved by leaps and bounds. We will have the best civil service and govt as well. Now that they are not privatized, please bear with their level of services for the time being and wait for the day when they are privatized.

How many daft Sinkies will disagree with this management theory? How many Sinkies today think that this is simply bull shit? How many would think that the effectiveness of an organization, any organization, is all about leadership and the quality of leadership and their motivation? How many out there are still thinking that they can con the daft Sinkies today with such lies? What do you think?

They said a lie, when spoken often enough, would become truth. This privatization theory is now a golden rule in Sin City. Dull and stupid people will become efficient and effective when working in a privatized company and vice versa.