9/04/2014

Lease Buy Back Scheme (LBS)

With the LBS now the hot topic for discussion, Boon Wan has wisely entered the fray to warn the oldies who took the scheme and ended with a lot of cash to be careful. ‘I urge our seniors to exercise prudence and caution.’ Said Boon Wan. He did not recap on the oldies visiting Batam story but instead spoke about the numerous foreign property investment schemes being peddled in the market.
 

And I thought I had a better idea. Or someone, some concerned and do gooders, would say the best thing is to retain the cash in the CPF accounts or make the oldies buy a compulsory annuity scheme with the cash from the LBS. Well, I thought I was being smart, but I was late. This was what Boon Wan suggested.
‘The best advice I can offer, is to use the substantial cash proceeds to voluntarily top-up you and your spouse’s Retirement Accounts. That will be a sure way to ensure that you can both enjoy a steady income each month in your golden years.’
 

There is a slight difference from what I had in mind. I was thinking of another compulsory scheme ala CPF minimum sum scheme. I am very concern for the welfare of the daft and irresponsible oldies. I would want to help them, not to lose their money because of their foolishness. I need to protect them. Boon Wan was talking about a voluntary top up scheme. At least he was kinder by allowing the oldies the right to choose. I am the kindest of all, but of the extreme kind, and am suggesting to make the retention of the cash by compulsion, no choice. They said you need to be cruel to be kind. I subscribe to that.
 

Now, which is the kinder scheme, voluntary or compulsory? Keeping the money in the CPF is definitely a good thing. The money will not fly away. Only slight drawback, the oldies may die before touching it.

Kopi Level - Green

Brighter prospect for cleaners


Some years ago this guy came to me for advice on his career path. He was going to take up the job as a cleaner and he wanted to know if there was any prospect in this job. Yes I called it a job, not a profession and I could not really see any prospect in the job except to become a supervisor if the company was big enough. I had a bit of difficulty explaining to him about a dead end job or a job with dim prospect.
 

Today I could be more optimistic and could tell him to take up the cleaner job. The prospect is brighter. A new law will be introduced to pay cleaners a minimum salary of $1,000. Four figures you know. And the prospect of $1,600 as a supervisor. Cleaners will also be sent for training to improve their skills and probably higher salaries. There will be a career path for them. 



From a HR point of view I would like to develop an organisational structure for the cleaner profession for the big companies. Organise them like the army with section leaders, platoon commanders etc etc. If big enough, can even have a cleaner general at the top of the pile.
 

Things are changing. Poly grads, interested in becoming cleaners? Just kidding. Poly grads prospects are even better. Could look forward to join the Admin Service or maybe become a politician and a MP or minister.

Kopi Level - Green

9/03/2014

The govt must stay out of the people’s lives


The govt is elected by the people to look after national matters. They must not arrogate themselves to mess around with the people’s lives and their personal matters like child bearing or how to spend their life savings, how to retire.
 

What the govt can do is to formulate policies which they think are good and offer them to the people. The people shall decide what is good for them. What is good for A may not be good for B. What is good for the govt may be bad for the people. Everyone is different and has different priorities, values and beliefs. Leave the people to decide how to live their lives, and leave the people’s money alone.
 

Keep your hands off the people’s money! Nobody is asking the govt to nanny them or to help to mess up their lives. Just because 3 persons went to see the MP for help does not mean everyone is asking the MP for help. Stay off.
 

Which idiot in govt is claiming that the people are asking the govt to meddle and interfere with their private lives? Kee chiu please.

Kopi Level - Blue. Thank you.

CPF backed by solid assets


I am just looking at the reasonings given recently that the people have no fear as their CPFs are backed by solid assets of the state. We have land, we have properties, we can also print money, solid like hell. Even if we lose all our CPF money in bad investments, the govt can always find other money to put back or repay the people’s CPF savings. I am not saying that our CPF money has been lost or gambled away. Our CPF money is in SGS bonds, very safe.
 

This issue crops up because of the reasonings used to assuage the people that they have nothing to worry about. The govt is not broke and have a lot of assets to back up the CPF savings in the reserves, land and properties in the whole island in fact.
 

So, is the reasoning or logic acceptable? Hypothetically, if a rogue govt and their talented investment managers were to lose the bulk of the reserves/CPF money in the future, they can say, don’t worry, we have a lot of assets that we can sell, liquidate to put back into the CPF, is this assuring?
 

Money lost is money lost. Taking money from somewhere to cover up the hole means somewhere else has a big hole that needs covering up. If the loss is big, the hole would be just as big. Some big assets must be sold from the pool. This cannot be acceptable.
 

The reserves/CPF money being managed when lost is lost and digging out money from other pockets cannot be acceptable and not comforting. The money must come from somewhere and when everything is accountable and linked, ultimately the people must pay for it somehow. Yes, the govt has a lot of money, reserves and assets, many times more than the CPF savings. So?
 

It is just like the public transport system. If it loses money, or more money needed for capital expenditure, or more fines for delays and breakdowns, eventually the commuters will have to pay for them.

Kopi Level - Blue. Thank you.

Britain – a ‘has been’ power trying to cause mischief


Like the few Pinoy boys wanting to set off bombs in Manila in protest against the Filipino govt for being soft towards China, some British parliamentarians led by a Richard Ottaway is conducting a parliamentary inquiry on China’s handling of Hongkong affairs. The British parliamentarians are accusing China of not abiding by the terms of the handover agreement for a one country, two system model.
 

The Chinese govt is furious and accusing the British of interfering in China’s domestic affairs. China is still found sorely wanting to think that the British or the Americans and Europeans would play fair and leave China alone. These ex colonialists would always think that they have the right to mess around with Afro Asian countries, and it is also to their benefits to put pressure on their ex colonies. China was fragmented then and certain parts of the country were colonized and seized by the colonial powers.
 

The hue and cry by China is like a small boy trying to cry out loud to the bully. It reveals the lack of sophistications of the Chinese govt on how to deal with the subversive activities of the recalcitrant ex colonial powers, or ‘has been’ powers like the UK.
 

There are just too many things that China could do to hit back at Britain. The British and the Americans have been committing acts of war and crimes against humanity all over the world, then and now. For a start, China should rally the African and Arab countries to conduct an inquiry on the crimes and genocide against the Iraqi people led by George Bush and Tony Blair. Get all the evidence and send them to a former trial for war crimes against the Arab people.
 

If China is new to this game and did not know how to go about it, China can engage the assistance of Mahathir on this. With China taking the lead, Mahathir and the Arab countries would have a bigger clout to put the criminals to justice. If the European dominated international courts would not handle the case, China can set up an alternative international court in Shanghai or Hongkong to hear the charges. China should set up an agency dedicated to pursue the wrong doings of the ex colonialists on their crimes in the past, particularly in Shanghai and Hongkong. Charge all the corrupt governors and top officials for the crimes they have committed in China against the Chinese people. China must take the initiative instead of always being on the receiving end warding off attacks by the west.
 

On the international scene, it could conduct inquiries on all the crimes committed by the US and UK and the European powers in Africa and the Middle East and also in India, the biggest colony that was fully colonized for several centuries. There were many genocide against the Indians in India that need to be revived to give justice to India and the Indian people. And there were a lot of treasures robbed and looted by the colonial powers then in both India and China and the rest of the world.
 

China’s leadership in this area is a job cut out for them. The rest of the world that have been continuously bullied and harassed by the western powers need an alternative power to give them honour, justice and dignity. The bashing of the rest of the world by the western powers must be stopped and put on trial.
China should not bother with the inquiry by a ‘has been’ power led by a Ottaway. There are many and bigger jobs to be done for the rest of the world, victims of western powers. The world is in need of a new leadership.


Kopi Level - Blue. Thank you.