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Coffeeshop Chit Chat - Warning-Spore running out of steam</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">Sikodolauka <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">Feb-23 10:22 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 15) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>7882.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>I would not be suprised if Singapore belly up like Iceland with the kind of losses it has been experiencing. More devastating news coming in the next few days.
And to think that I thought SIA was invincible and I really had high hopes for it.
Excerpt from the Vancouver Sun Business section:
Even before the global credit crisis, Singapore was running out of steam, according to economist Yuwa Hedrick-Wong, who is based there. “Its so-called non-oil domestic exports plunged in early 2008, largely due to its badly managed currency policy. The Singapore dollar stayed too high for too long, sapping the competitiveness of its electronic exports, and when overseas demand collapsed, the entire sector that was weak to begin with got wiped out.
“On top of it all, Temasek, the state-owned investment fund, has lost about $50 billion US in the last three years,” said Hedrick-Wong in an e-mail.
Until recently, it was “run by the prime minister’s wife, who is now being replaced by [Chip Goodyear] the former CEO of Australian mining company BHP. So, no stone is [being] left unturned to improve profitability of all the state owned businesses, Singapore Airlines included.”
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And to think that I thought SIA was invincible and I really had high hopes for it.
Excerpt from the Vancouver Sun Business section:
Even before the global credit crisis, Singapore was running out of steam, according to economist Yuwa Hedrick-Wong, who is based there. “Its so-called non-oil domestic exports plunged in early 2008, largely due to its badly managed currency policy. The Singapore dollar stayed too high for too long, sapping the competitiveness of its electronic exports, and when overseas demand collapsed, the entire sector that was weak to begin with got wiped out.
“On top of it all, Temasek, the state-owned investment fund, has lost about $50 billion US in the last three years,” said Hedrick-Wong in an e-mail.
Until recently, it was “run by the prime minister’s wife, who is now being replaced by [Chip Goodyear] the former CEO of Australian mining company BHP. So, no stone is [being] left unturned to improve profitability of all the state owned businesses, Singapore Airlines included.”
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