.
and we expect many more to come in later days and months
It was all gloom and doom.
and we are not spare either.
we also expected many more to retrench after Lunar New Year.
Tuesday, January 27, 2009
85,000 jobs lost in a single day
just after 7 days of our 2008/2009 budget and on the second day of our Lunar New Year 2009, we saw the greatest number of jobs being lost in just one day,across Europe.
It was all gloom and doom.
and we are not spare either.
we also expected many more to retrench after Lunar New Year.
It was all gloom and doom.
and we are not spare either.
we also expected many more to retrench after Lunar New Year.
Sunday, January 25, 2009
new year new beginning
it was a brand new new year.
already there are so many problems last year, yet unsolved.
still,
no matter what has happen, smile, let it go and move on.
there are many things we have to do, don't just sit there and grumbled.
it was useless to just do the talk.
walk the talk instead.
and most important, you must made the correct decision at that time.
remember not to dwell in the past, but place hope in the future.
the past is behind you and the future was right in front.
cherish the present for which it determined your future, your life and everything.
we tended to forget the people who cares about us as they scolded us. but they meant well. they do think of you.
loved them as always..
already there are so many problems last year, yet unsolved.
still,
it will be the best year yet.
no matter what has happen, smile, let it go and move on.
there are many things we have to do, don't just sit there and grumbled.
it was useless to just do the talk.
walk the talk instead.
and most important, you must made the correct decision at that time.
remember not to dwell in the past, but place hope in the future.
the past is behind you and the future was right in front.
cherish the present for which it determined your future, your life and everything.
we tended to forget the people who cares about us as they scolded us. but they meant well. they do think of you.
loved them as always..
Saturday, January 24, 2009
LKY on Financial crisis
Nobody knows how long this recession will last, or when the America, UK, EU and Japan economies will stabilise and recover.
Meantime, all feel poorer with the loss in asset values of their shares, properties and other assets
No one can say how long it will last and how deep the downturn will be.
Recovery will come when the property market in America reaches bottom and begins to rise.
the government will be ready to decide on assistance programmes for the lower-income earners.
But to return to where we were before the crisis and enjoy the same standard of living, we have to wait until the recovery of the world economy.
We all have to accept some sacrifices and cut-backs.
Meantime, all feel poorer with the loss in asset values of their shares, properties and other assets
This downturn is just beginning.
No one can say how long it will last and how deep the downturn will be.
Recovery will come when the property market in America reaches bottom and begins to rise.
That may not be for many months or even years.
the government will be ready to decide on assistance programmes for the lower-income earners.
But to return to where we were before the crisis and enjoy the same standard of living, we have to wait until the recovery of the world economy.
We all have to accept some sacrifices and cut-backs.
Friday, January 23, 2009
mother and child
the greatest love of all: mother.
treasure it.
cherish it.
be contented.
and
share your joys and sorrows with her,always.
Thursday, January 15, 2009
Monday, November 24, 2008
Love story III
Some Town Councils collected our S&C fee and invested in structured products like DBS high Notes, Lehman’s brother minibond, Jubilees notes and Morgan Stanley Pinnacles notes.
It was S$16 millions in total. (Another S$3 million in Pinnacles notes in danger of losing all)
And they were all worthless.
Zero.
It was this sum of money that we could not earn in our lifetime
And they just told us it was gone.
They went in with their eyes opened.
They have excellent learning, unlike the 62-year-old retirees with no primary education. They just like to have safe fixed deposit but were told to buy complex products that they were told it was principle-guarantee.
They did not know, but these people knew.
They knew what they were doing.
They also knew that high returns high risk too.
They read the fine print too.
And it was not just one person but many people involved.
But still they went in.
When things happened as it always, they blamed on others like our 158-year-old Lehman’s brother and low fixed deposits interest rate could not offset high inflation. But not themselves.
They told us that they did not expect it to collapse as it has AAA+ rating.
Like our trusted banks, they told you beautiful stories and sidetracked you the main point that they have made wrong decision and pushed all the blame.
When you owed them money, you will get fine for not paying.
When they lose your money, they needed not pay anything at all.
Not even a single cent.
Trust no more.
It was S$16 millions in total. (Another S$3 million in Pinnacles notes in danger of losing all)
And they were all worthless.
Zero.
It was this sum of money that we could not earn in our lifetime
And they just told us it was gone.
They went in with their eyes opened.
They have excellent learning, unlike the 62-year-old retirees with no primary education. They just like to have safe fixed deposit but were told to buy complex products that they were told it was principle-guarantee.
They did not know, but these people knew.
They knew what they were doing.
They also knew that high returns high risk too.
They read the fine print too.
And it was not just one person but many people involved.
But still they went in.
When things happened as it always, they blamed on others like our 158-year-old Lehman’s brother and low fixed deposits interest rate could not offset high inflation. But not themselves.
They told us that they did not expect it to collapse as it has AAA+ rating.
Like our trusted banks, they told you beautiful stories and sidetracked you the main point that they have made wrong decision and pushed all the blame.
When you owed them money, you will get fine for not paying.
When they lose your money, they needed not pay anything at all.
Not even a single cent.
Trust no more.
Monday, November 17, 2008
Love story II
Benchmark crude oil futures rose to almost US$155 per barrel in July but have since fallen to below US$60 four months later.
Back before July 2008, companies which expected oil prices to continue rising locked in three-month futures contract so that they can protect themselves.
They hedged their fuel cost by buying contracts for fuel at a predetermined price for future delivery and it helps them save millions when oil prices climb.
But when price drop, they have to book the unrealised losses on their account.
But not SP Services Ltd.
They have made the mistakes in locking the three-month future contracts in July for a price of US$155. They have bet the oil would continue on its upward climb.
However, oil began to plunge to US$100, and then US$60.
It was 100-120% drastic drop.
And they have made the wrong bet.
Instead of the helping consumer paying less for the electricity bills, we have to pay even higher bills for the wrong bet made by SP Powergrid.
They should book the unrealised losses and reported in their books.
But unfortunately it was not the case; they passed on the losses.
On the other hand, they book record profits.
And the top management got their fat bonuses, with our money.
Just like the Lehman brother’s minibonds.
They told you beautiful stories, showed the wonderful charts after charts, and explain points by points but did not mentioned that they have made a grave mistakes and this mistake will be undone by us, the consumers.
Trust no more.
Back before July 2008, companies which expected oil prices to continue rising locked in three-month futures contract so that they can protect themselves.
They hedged their fuel cost by buying contracts for fuel at a predetermined price for future delivery and it helps them save millions when oil prices climb.
But when price drop, they have to book the unrealised losses on their account.
But not SP Services Ltd.
They have made the mistakes in locking the three-month future contracts in July for a price of US$155. They have bet the oil would continue on its upward climb.
However, oil began to plunge to US$100, and then US$60.
It was 100-120% drastic drop.
And they have made the wrong bet.
Instead of the helping consumer paying less for the electricity bills, we have to pay even higher bills for the wrong bet made by SP Powergrid.
They should book the unrealised losses and reported in their books.
But unfortunately it was not the case; they passed on the losses.
On the other hand, they book record profits.
And the top management got their fat bonuses, with our money.
Just like the Lehman brother’s minibonds.
They told you beautiful stories, showed the wonderful charts after charts, and explain points by points but did not mentioned that they have made a grave mistakes and this mistake will be undone by us, the consumers.
Trust no more.
Wednesday, November 05, 2008
a lover's story
An investment bank had betrayed customer’s trust and cause financial tsunami.
And other banks and reminiscing films followed their unscrupulous ways and sold their products to vulnerable ordinary people like 62 years, primary school education retirees.
Like any other lovers, they swept your feet away with sweet words promising fantastic interest returns.
They spoke honey-words, brought you candle-light dinners, best French wines, good food, shopped for exquisite and expensive jewelries, stayed in luxurious hotels.
You signed the applications form blindly without perceives the tiniest fine print that anything happened; you will lose despite the capital guarantees.
Likes other profit-greedy companies, our most-trusted banks followed their footsteps.
Like any exotic things it comes fast and goes fast as well.
Like exotic names as minibonds, High five notes series.
When they collapsed, they placed their blame on other but themselves.
Like any lovers whom they made the girls pregnant, they told them the child was not theirs.
Like any lovers, they have betrayed their trust and caused you miserable, sorrow and heartbreaking.
Like any lovers, they ditched you with unborn child.
In this case, the child was a worthless paper.
Like any other pregnant mother, you have to fight on, bring justice to light and let the world see through his filthy, unclean and foul soul.
Trust no more.
Saturday, November 01, 2008
gloomy days ahead
already retrenchment has happened fast and furious.
watch out:
Gloomy days just started.
Tuesday, October 28, 2008
Saturday, October 25, 2008
Friday, October 24, 2008
Thursday, October 23, 2008
Tuesday, September 30, 2008
Monday, September 29, 2008
time machine
how i wish to have the time machine, where we can roam through the past, present and future..
Tuesday, September 23, 2008
Sunday, September 21, 2008
Friday, September 12, 2008
more to come,this is just the beginning
Lehman Bros to sell off assets after 3.9 billion dollar loss
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