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Retrenchment hits me
- Thread starter krafty
- Start date
erection2015
Alfrescian (InfP) + C
hope it doesnt hit too many people too hard.
You are one sorry pessimist!!!!!
There so many uplifting and inspiring stories to set a positive tone. All it takes is the right attitude. My hero Steve Jobs didn't allow the financial crisis and his impending demise to stop him from achieving greatness. The iPhone and iPad were launched when the economy was in the shits and he knew he would soon meet his maker.
http://blogs.wsj.com/searealtime/2011/10/24/southeast-asia-mints-more-millionaires/
By Eric Bellman<dl class="wp-caption alignleft caption-alignleft imageFormat-F" style="width: 571px;"><dt class="wp-caption-dt"></dt><dd class="wp-caption-dd wp-cite-dd" style="text-align: right;">EPA</dd><dd class="wp-caption-dd" style="text-align: left;">A visitor examines a Lamborghini on display at a shopping center in Bangkok. </dd></dl>
If you’ve been placed on another long waiting list to buy a Breitling or a BMW, it may be because Southeast Asia is spawning a growing number of the world’s newest nouveau riche.
The number of millionaires almost tripled in Singapore over the last year and a half while it came close to doubling in both Indonesia and Malaysia, according to a report this week from Credit Suisse Group.
When compared to the numbers from the report released early last year, those three countries alone have given birth to close to 190,000 new millionaires since the beginning of last year according to the report, which did not give figures for the Philippines or Thailand. That total is short of the 212,000 new millionaires minted in China over the same period but well ahead of the other BRIC countries (Brazil, Russia and India) which had each added less than 100,000 new millionaires.
So where is all the new money coming from? Much of the rise is just a reflection of the weakening dollar, which makes the Singapore dollar- and rupiah-denominated riches look more impressive when translated into U.S. dollars. Otherwise it can be attributed to growing savings, stock and property prices. Credit-Suisse defines wealth as a person’s financial and real estate assets minus their debt.
The number of people with wealth of more than $1 million shot up by 118,000 in Singapore during the period to 183,000, which means the small city state is one of the places you are most likely to randomly bump into a millionaire.
Even the average Singaporean is wealthy compared to the rest of the world. Average household wealth was $285,000 in the middle of this year, the report said. That makes Singaporeans the fifth wealthiest in the world (after Switzerland, Australia, Norway and France.)
Malaysia added 19,000 new millionaires over the 18 months, bringing its total to 39,000. Meanwhile the number of millionaires in Indonesia jumped by 52,000 people to 112,000. Interestingly, Indonesia had 12 billionaires by the middle of this year, according to Credit-Suisse’s calculations, more than Singapore and Malaysia combined.
Average wealth in Indonesia – which is Southeast Asia’s largest economy but has a population of around 240 million – was lower than its neighbors at around $12,000. That’s still a great improvement from the turn of the century when it was as lows as $2,000. “The rise in personal wealth in Indonesia has been stunning since the year 2000, with average wealth growing by a factor of five,” the report said.
Strong currencies, rising property prices, climbing commodity prices and healthy stock markets have helped the region but the real secret to Southeast Asia’s success may be how stingy money makers are here.
Average household debt which offsets much of savings and investments in Western countries is very low in the region. It’s only 13% of total assets in Singapore and 2.5% of total assets in Indonesia.
That's the reason why he could not wait
Don't reform the court jester, please!!
You are one sorry pessimist!!!!!
There so many uplifting and inspiring stories to set a positive tone. All it takes is the right attitude. My hero Steve Jobs didn't allow the financial crisis and his impending demise to stop him from achieving greatness. The iPhone and iPad were launched when the economy was in the shits and he knew he would soon meet his maker.
All of us will die and in most cases, we don't know when. That's why it's so important to adopt a positive attitude and live life to the fullest.
I thought taxi drivers make more than SGD3,000 a month? in the area where I live, I have seen C.D. taxi drivers mostly with three children, & wives not working; taxi earnings must be good, that can support that!. You are saying you are getting retrenched!! ha ha ha ha
Last edited:
erection2015
Alfrescian (InfP) + C
its his thread and he'll bitch if he wants to.
hi there
1. krafty, you are not alone with the downturn economy acoming!
2. come on, chin up.
3. sheep here have had been to even worse time in the past.
4. if you going to feel sorry and depressed about it.
5. you are simply back to square one: a sore loser.
6. cherish life and things around you, bro.
7. don't take them for granted too.
Early ang pow in the form of a nice retrenchment package. Congratulations. And no, I am not being sarcastic.
The people who 'survive' the retrenchment may not necessarily be lucky or happy. Usually, they have to cover the work of those who were retrenched. They may get their benefits cut. They get overworked, and generally get treated like shit.
You may keep your job, but will you keep your sanity?
The typical company's management's line of thinking is: "Heh heh, recession is looming, I bet you underlings won't dare to jump ship. You will keep quiet and take it up the ass!"
The important thing for retrenchment survivors is to call their bluff and quit. Find another job, do something you love, take a break, study, go overseas etc. Do not contribute to myopic employers.
Of course, I am speaking from the perspective of a single male who doesn't have to pay rent, has zero debt and whose investment/savings are doing well. If you have sick elderly parents, a wife, kids and a mortgage, good luck to you.
The people who 'survive' the retrenchment may not necessarily be lucky or happy. Usually, they have to cover the work of those who were retrenched. They may get their benefits cut. They get overworked, and generally get treated like shit.
You may keep your job, but will you keep your sanity?
The typical company's management's line of thinking is: "Heh heh, recession is looming, I bet you underlings won't dare to jump ship. You will keep quiet and take it up the ass!"
The important thing for retrenchment survivors is to call their bluff and quit. Find another job, do something you love, take a break, study, go overseas etc. Do not contribute to myopic employers.
Of course, I am speaking from the perspective of a single male who doesn't have to pay rent, has zero debt and whose investment/savings are doing well. If you have sick elderly parents, a wife, kids and a mortgage, good luck to you.
i kana retrenched long ago...now my friends kana one by one..joining me limping kopi everyday talkcock talk shop...this place is going to the dogs. people are cold and heartless. peolple are unforgiving and selfish. you die your business....nobody cares!!!
your wedding die also don't care! your wedding cars also fined!!! your funeral lorry also kana fined !!!! it's all about money and greed!
nanbeh! this place is damned pui type!!! cowsai!!!
your wedding die also don't care! your wedding cars also fined!!! your funeral lorry also kana fined !!!! it's all about money and greed!
nanbeh! this place is damned pui type!!! cowsai!!!
Personally, I like these part.
"There are certain expenses which must not be cut. This is allowance to parents and parents-in-law. The first response from parents is to cut or stop their allowance upon learning of their children's retrenchment. I have never heard of parents stop providing for their children when they are out of a job. Therefore, why should children stop providing for their parents when they become jobless? People who stop their parents' allowance are making a gross miscalculation. Their own children will do the same thing to them when they grow up. They will not feel a pang of guilt because their own parents did the same thing to their own parents. Setting a good model example to the children is the most effective and yet, least time-consuming way to educate them. Much better than spending so much time giving them tuition yourself and yelling at them. They either end up resenting you or hating the subject".
"There are certain expenses which must not be cut. This is allowance to parents and parents-in-law. The first response from parents is to cut or stop their allowance upon learning of their children's retrenchment. I have never heard of parents stop providing for their children when they are out of a job. Therefore, why should children stop providing for their parents when they become jobless? People who stop their parents' allowance are making a gross miscalculation. Their own children will do the same thing to them when they grow up. They will not feel a pang of guilt because their own parents did the same thing to their own parents. Setting a good model example to the children is the most effective and yet, least time-consuming way to educate them. Much better than spending so much time giving them tuition yourself and yelling at them. They either end up resenting you or hating the subject".
To be fair, I know it is not easy to earn a living driving a taxi. Imagine sitting inside a car for 8-12 hours, dealing with rude, unreasonable customers sometimes. The high rental and diesel fee makes it harder. But to say the truth, there are times when the taxi drivers have to reflect on their own actions. These are the common mistakes taxi drivers often made:
1. Park their taxi in Geylang, sit at the coffee shop and ogle at the chickens. Sometimes, they would spend afternoon sipping coffee and chatting with those PRCs chickens. Some even became their personal chauffer.
2. Driving round and round waiting for booking. A booking earns them an extra $3.50. But they waste their diesel and most important, their energy and focus level driving round and round.
3. Queuing at the airport. It earns them another $5? But they waste 1 hour waiting for their turn. If their luck is good, the destination could be Boon Lay or Woodlands. If they happen to pick me up, good luck to them. I live just 2 bus stops from the airport.
My Hongkie boss was lamenting how lazy taxi drivers in Singapore are. He was saying that in Hong Kong, the taxi drivers are picking up customers as if their life depended on it.
1. Park their taxi in Geylang, sit at the coffee shop and ogle at the chickens. Sometimes, they would spend afternoon sipping coffee and chatting with those PRCs chickens. Some even became their personal chauffer.
2. Driving round and round waiting for booking. A booking earns them an extra $3.50. But they waste their diesel and most important, their energy and focus level driving round and round.
3. Queuing at the airport. It earns them another $5? But they waste 1 hour waiting for their turn. If their luck is good, the destination could be Boon Lay or Woodlands. If they happen to pick me up, good luck to them. I live just 2 bus stops from the airport.
My Hongkie boss was lamenting how lazy taxi drivers in Singapore are. He was saying that in Hong Kong, the taxi drivers are picking up customers as if their life depended on it.
Dey indeed, very true. inaddition to that, Krafty will parked at desker or CV car parked n google for ah quaz n start surfing SBF n KPKB everyday.
Hello everyone,
I am the writer of the blog http://help-your-money.blogspot.com and was surprised to find many visitors from Singapore's premier forum Sammyboy. Didn't expect someone else would pick up on my retrenchment post.
While retrenchment is a depressing thing, it need not end badly. It gives a person plenty of time to step back and think and who knows what useful thing will come out of it? I work in an industry with poor prospects. When a person works diligently but still ends up with a failure outcome and he is surrounded by people suffering the same fate, he is probably in the wrong place. When you know you are in the wrong place at the wrong time, getting kicked out of it cannot be too bad a thing
This is not the first time I am retrenched. Speaking from experience, my advice to those who have never been retrenched is to keep an emergency cash reserve to prepare for this event, particularly those working in the tech sector where things change at a very fast pace. With a strong cash reserve, at least one can continue to meet family obligations during the down period.
I am the writer of the blog http://help-your-money.blogspot.com and was surprised to find many visitors from Singapore's premier forum Sammyboy. Didn't expect someone else would pick up on my retrenchment post.
While retrenchment is a depressing thing, it need not end badly. It gives a person plenty of time to step back and think and who knows what useful thing will come out of it? I work in an industry with poor prospects. When a person works diligently but still ends up with a failure outcome and he is surrounded by people suffering the same fate, he is probably in the wrong place. When you know you are in the wrong place at the wrong time, getting kicked out of it cannot be too bad a thing
This is not the first time I am retrenched. Speaking from experience, my advice to those who have never been retrenched is to keep an emergency cash reserve to prepare for this event, particularly those working in the tech sector where things change at a very fast pace. With a strong cash reserve, at least one can continue to meet family obligations during the down period.
and you hang in little india looking for some public toilets to find your targets...:*:
hi hyom, nice to see you here! 1st of all, please excuse me for putting up your link w/o your permission. hope that you don't mind!:o
secondly, i know how you feel as my previous experience was worse. i was in ST Electronics consortium then. My jealous colleague with link to LKY play bastard causing hell for me at work. I was forced to resign as i was facing extreme stress and i was very unhappy. If you do not know, his name is ho kum hean, typical lky's crony with serious integrity problem. don't be deceived by his look!
i have went to see my MP and even wrote to LKY before but nothing was done. Apparently, lky's cronies is more important in status than a lowly peasant like me. till today, i am thinking of how to mess them up if i have the opportunity. initially, i thought that things will be ok after looking for other jobs, but i was thrown dozen of suspicious questions at interviews, how am i supposed to tell them the truth?
today, i am a relief cabby and doing some small biz to sustain. I did try trading but i think inorder to trade you have to be the top 10% to make money.
that's my story and thanks for bearing with me on my whining..hee...hee...:o
wish you all the best!
secondly, i know how you feel as my previous experience was worse. i was in ST Electronics consortium then. My jealous colleague with link to LKY play bastard causing hell for me at work. I was forced to resign as i was facing extreme stress and i was very unhappy. If you do not know, his name is ho kum hean, typical lky's crony with serious integrity problem. don't be deceived by his look!
i have went to see my MP and even wrote to LKY before but nothing was done. Apparently, lky's cronies is more important in status than a lowly peasant like me. till today, i am thinking of how to mess them up if i have the opportunity. initially, i thought that things will be ok after looking for other jobs, but i was thrown dozen of suspicious questions at interviews, how am i supposed to tell them the truth?
today, i am a relief cabby and doing some small biz to sustain. I did try trading but i think inorder to trade you have to be the top 10% to make money.
that's my story and thanks for bearing with me on my whining..hee...hee...:o
wish you all the best!
Hello everyone,
I am the writer of the blog http://help-your-money.blogspot.com and was surprised to find many visitors from Singapore's premier forum Sammyboy. Didn't expect someone else would pick up on my retrenchment post.
While retrenchment is a depressing thing, it need not end badly. It gives a person plenty of time to step back and think and who knows what useful thing will come out of it? I work in an industry with poor prospects. When a person works diligently but still ends up with a failure outcome and he is surrounded by people suffering the same fate, he is probably in the wrong place. When you know you are in the wrong place at the wrong time, getting kicked out of it cannot be too bad a thing
This is not the first time I am retrenched. Speaking from experience, my advice to those who have never been retrenched is to keep an emergency cash reserve to prepare for this event, particularly those working in the tech sector where things change at a very fast pace. With a strong cash reserve, at least one can continue to meet family obligations during the down period.
hi hyom, nice to see you here! 1st of all, please excuse me for putting up your link w/o your permission. hope that you don't mind!:o
secondly, i know how you feel as my previous experience was worse. i was in ST Electronics consortium then. My jealous colleague with link to LKY play bastard causing hell for me at work. I was forced to resign as i was facing extreme stress and i was very unhappy. If you do not know, his name is ho kum hean, typical lky's crony with serious integrity problem. don't be deceived by his look!
i have went to see my MP and even wrote to LKY before but nothing was done. Apparently, lky's cronies is more important in status than a lowly peasant like me. till today, i am thinking of how to mess them up if i have the opportunity. initially, i thought that things will be ok after looking for other jobs, but i was thrown dozen of suspicious questions at interviews, how am i supposed to tell them the truth?
today, i am a relief cabby and doing some small biz to sustain. I did try trading but i think inorder to trade you have to be the top 10% to make money.
that's my story and thanks for bearing with me on my whining..hee...hee...:o
wish you all the best!
hi there
1. krafty, what small time biz are you into now?
2. pls share if you are alright with it!
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