The Energy Market Authority went long on a one year contract when oil price was $120. The EMA was drummed up by a bunch of scholars based on the Canadian model. But Canada is a big country, with eastern and western power nodes/hubs. Singapore is such a small country and there should be no need for this model. So typical of our system where people appointed to positions are eager to show their political masters that they are dong something. The ordinary folks end up paying suffering unnecessarily because of the mistakes made by these few elites.
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The truth behind the 21% electricity hike
- Thread starter lee6100
- Start date
While there may be some morsel of truth to some of the claims you have made in the above, let me give you a friendly reminder that our scholars are the best people we have, judging from their grades and they have never known failure during their school days. It is impossible to imagine that our scholars and elites fail in any way. They always make the best decisions based on the facts. They must never apologize for changing a strategy or an approach if the facts change.
Beg your pardon. They are 'best' only doing exams. In real life they are 'best' at messing up people's lives. Saw what happened with 'minibonds'. Those ass-holes at MOF didn't even realise what was happening in spite of alarm bells being 'rung' by non-scholarly types.
If the scholars are only good in academic, they should become lecturers.
Better not. If they become lecturers they will bring out more clones of themselves. Then we will even have more 'ass-holes' around screwing up things.
The facts changed and no one could have foreseen Lehman Brothers collapsing. Our scholars know that owning UBS and Merill Lynch for a small nation like Singapore shows how powerful Singapire has become. A long term investment like this will bear fruits beyond imagination. These decision are based on facts that have yet to change.
what is so powerful about investing in banks who owed alot of people in debts?
Is that so? What about the investment in ABC Learning. We now are told the guy behind this 'MacDonald' of learning was jetting round having great time with his mistress while our astute scholars were recommending this 'lemon' to Temasek. To add insult to injury we are now being blamed for this company's failure because we invested in the company. Is this an example of your 'a long term investment like this will bear fruits beyond imagination'. At this rate our 'goal keeping' president may have to work overtime and give up retirement plans to 'protect' our reserves soon.
After 3 months our pants drop, the price will still not drop.
You probably have to work harder to pay for his salary.
You are right in saying that they are the best people we have as far as their school grades and school examinations are concerned.
However, in actual world of business, they are not. When compared with those shrewd businessmen who possess good business acumen, they are exam-smart kids.
When doing academic research work, they may make the best decisions based on facts. But in reality, it is doubtful if they make good decisions?
Who made the decision to spend A$400 million to acquire a 12 per cent stake in the ABC Learning Centre owned by the ex-milkman of Brisbane? When the acquisition was made last year, the shares were worth A$7.30 each. The share price plummeted to 54 Australian cents, before the counter was suspended and Temasek Holdings ended up being the biggest losers.
Still remember in mid Sep 08, Oei Hong Leong scooped up shares of the embattled American Insurance Group (AIG) at US$1.80 apiece on the birthday of Minister Mentor Lee Kuan Yew? On 22 Sep 08, he sold the shares at about US$5 each - a gain of 177 per cent. Oei's perfect timing netted $7m which he donated to Lee Kuan Yew School of Public Policy.
You put these 2 stories together, do you not think our exam-smart kids pale in comparison..?
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The elite of Singapore never apologize for changing a strategy or an approach if the facts change. How the CEO spends his own money of success is his own choice. That does not affect the decision. Most investment bankers also have a high jet-setting lifestyle.
So did T T Durai of NKF fame. He also had whole floor of building for his own office and gold plated bathroom taps.:(
I thought the court has already concluded the guilt of Durai. There is no need to reopen the case and try to exaggerate. Please refer to the transcript of the proceedings. The punishment meted indicates the misdemeanor was not as serious as some people of the public have blown it up. Our scholars and elites are beyond reproach for all their decisions.
and LKY did say last year pap singapore is entering a golden period... now it looks more like a golden pichiak...
Work overtime? He hasn't even started working.
Since when did he exaggerate. He stated the facts - "whole floor of building for his own office and gold plated bathroom taps". These are facts.
Bang on, if success can be charted as in academia or some 10 year series replication -then us lesser souls have no business on improving our lot in real life.
Don't believe I'm hearing and seeing this, omgDIVISION1 said:
. Speaks volumes of your intellect ...and dis-engagement with real life
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