My prediction for the future? You become the first *two-time* winner of the Nobel Peace Prize! Yeah! Michael Moore

in support of Obama's Nobel Peace Prize

I think Obama more than deserved the Nobel Peace Prize..the silent majority maybe no match for the vocal media minority including BT's Vikram Kanna who shared my admiration for Obama..it is easy to jump on the media conventional wisdom bandwagon instead of appreciating Nobel award panel's insight and vision, and its true that there are many hard toiling deserving winners w/o Obama's charm and clout..but hey there is only 1 Nobel Peach Prize a year and Obama's impact and contribution is more than deserving...maybe Martin Luther King (1964) or even Nelson Mandela (1993) is more transformative...but can you imagine what USA and the world would be like if George Bush or John McCain (decent genuine folk he maybe) were US president..

Obama's impact is if anything no less than Mohammed Yunus (2006) and Medecins sans Frontier ('doctors without borders')(1999) and most certainly far more than Al Gore (2007)..

Obama team have accomplished in 9+ months no recent US or world leader have done in decades..Geithner, working without senate confirmed assistant secretaries and staffers, turn around Wall Street, saved the world financial market from unseemly collapse and the livelihood of millions...got GM & Chrysler in and out of bankruptcy saving millions of jobs...more importantly Obama got a whole leaderless generation in USA and worldwide to believe again "yes, I can"...his election and inauguration moved the entire world...conservatives who attacked Obama team on every solution that have proven to work beautifully and branded TARP, stimulus, healthcare, consumer protection as socialist, big government, nationalisation etc are simply living in the past (where George Bush surrounded by crooks and cronies ruled by lies, corruption and ineptitude) and so faithless..but Obama generation can believe again, are motivated and know the difference between talk and action...no drama Obama never claims he can solve all the problems (having inherited 2 wars, a planet in peril and financial collapse) in 1 year or even one term, but looking at the intelligent, pragmatic, problem solving doer team he gathered who solve the financial crisis as volunteers while awaiting senate confirmation, we have confidence he is getting there - climate change, Afghanistan, Iraq, ME, Iran, North Korea..these are not the same incompetent above the law fat cats (Bush cronies) who still defends torture, waterboarding, Guantanamo Bay, Abu Graib (Cheney), who attacked Iraq based on lies and brought untold miseries for generations to those american and Iraqi families who suffer losses of loved ones for no reasons (Rumsfeld) etc...

we can criticise the Nobel Peace prize as too early if it is awarded for lifetime devotion rather than size of impact (and so Obama and his advisors are themselves surprised), but while Obama team will need maybe 1 or 2 terms to bring the planet in peril from the brink of self destruction, he can be credited with triggering the process (like Colin Powell said Obama is transformative and game changing and a product of the times - without the disastrous and divisive Bush years there maybe no Obama phenomenon) and so in my humble opinion the Nobel Peace Prize has no more deserving recepient...and Mohamed Yunus, doctors without borders and Al Gore (despite their more than magnificient contributions) are of no comparison...

World's Greatest City: 50 reasons why Singapore is No. 1

The Two Sides of Dual-Class Shares

........Hollinger International presents a good example of the negative effects of dual-class shares. Former CEO Conrad Black controlled all of the company's class-B shares, which gave him 30% of the equity and 73% of the voting power. He ran the company as if he were the sole owner, exacting huge management fees, consulting payments, and personal dividends. Hollinger's board of directors was filled with Black's friends who were unlikely to forcefully oppose his authority. Holders of publicly traded shares of Hollinger had almost no power to make any decisions in terms of executive compensation, mergers and acquisitions, board construction poison pills, or anything else for that matter. Hollinger's financial and share performance suffered under Black's control.

Academic research offers strong evidence that dual-class share structures hinder corporate performance. A Wharton School and Harvard Business School study shows that while large ownership stakes in managers' hands tend to improve corporate performance, heavy voting control by insiders weakens it. Shareholders with super-voting rights are reluctant to raise cash by selling additional shares--that could dilute these shareholders' influence. The study also shows that dual-class companies tend to be burdened with more debt than single-class companies. Even worse, dual-class stocks tend to under-perform the stock market.

Conclusion
Not every dual-class company is destined to perform poorly--Berkshire Hathaway, for one, has consistently delivered great fundamentals and shareholder value. Controlling shareholders normally have an interest in maintaining a good reputation with investors. Insofar as family members wield voting power, they have an emotional incentive to vote in a manner that enhances performance. All the same, investors should keep in mind the effects of dual-class ownership on company fundamentals.
by Ben McClure

The pork barrel tussle in USA today is this:

great piece from a friend Goh Chung Meng to my earlier rantings-

The pork barrel tussle in USA today is this:

No enough money to go around, so help me but do not help him. Help only the Wall Street guys. Helping the rest of America is simply wrong. It is easier to say the word “wrong” by branding. Every night they have paid talkers on the TVs telling people why helping to get healthcare to every Americans is wrong. Helping autos and airlines and housing is wrong because it is for the common people and that is communism according to them, the Wall Street idiots. Helping the capitalists is capitalism – why have we not learnt this in schools?

Helping capitalist is right – it is capitalism. A country of capitalists created by capitalists for capitalists. The defence of capitalism is as natural as breathing.

Helping the common people is wrong – what the hell is that? Kindness as an ideology? Well, it is not capitalism and so it must be wrong. Only one state sponsored theory can dominate in America.

The sad truth is that there is not enough money to help all in America. If you are not pro-capitalists you have no money to run expensive campaigns. Can’t run, can’t win. But if you do not promised to help the average Joe, you are not getting the votes.

The people who are the problem are attacking the solutions because it is cannibalising on their own blood supply. You have a picture of a rich patient in an intensive care unit harping the virtue of blood donations only in front of their ICU rooms. They cannot attack blood donation itself because they need it but they can attack blood donation drives elsewhere by “branding”. They have the cheek to do it. Their survival is correct evolution. Others’ survival is an evolutionary mistake. Instead of the fittest survive, we have the most well fed survive.

===
You summed up the root of American financial trouble today which is that greed is being rewarded on the upside while the pain of risks is not inflicted directly on those who created those risks. The “moral hazards” thing. All kinds of risks are embedded in transactions and not accounted for. The art of detaching the risks from the benefits is the purpose of financial engineering. The more complicated and globalised the products, the better. No ownership of risks is ever intended. For Alan Greenspan to say that financial bubbles cannot be known or determined until it happens is precisely to deny any ownership of risks until risks appeared and by that time it is most likely a tax payers’ risks because it would be too big for anyone else to shoulder. It is the US system and policies which allowed risks to build up undetected. American still preached “risks management” as a formal subject to the rest of the world but is blind to the risks in their own system.

New York New York

made a trip to NYC to use up my 100k expiry Krisflyer miles. turns out that I quite like NYC.
22hrs journey was a drag=12hrs S'pore to Frankfurt+2hrs transit+8hrs to JFK airport..business saver on SIA 747-400 europe/usa flights are getting extremely limited, now only LA/NYC with latter transit at Frankfurt.
got hold of the 7-day New York pass for USD155 online. this is really worthwhile=I got to visit Metropolitan Museum of Art, Solomon & Guggenheim Museum (love it!), American Museum of Natural History, MOMA aka Museum of Modern Art (Love it!), Empire State Building, the pre-historic Skyride (simulation ride) from 1995 at the Empire State Building piloted by Kevin Baker, Top of the Rocks (Rockefeller Tower), Madame Tussauds (found out who Miley Cyrus is=no consequence!), went for 2 really good walking tours =Alexandra Hamilton Financial District Tour (the guy was George Washington's Finance Secretary) which ended with Trinity church, St Paul's church where volunteer rescue effort was based for 8 months post 911, and ending at One World Trade Centre (former Ground Zero); and the George Cohan Theatre District Tour. also went for behind the scene tours of NBC studio (SNL=saturday night live & Tonight with Conan o'Brien=who?; Radio City Music Hall (where Grammy & Tony awards were held and the recent MVA 2009=music video awards where kayne West grab the award from Taylor Swift, were held; and the Madison Square Gardens (where Marilyn Monroe sang Happy Birthday to the President JFK=well that was a different MSG location)..and the awesome St John the Divine=truly the largest cathedral in the world..all these for free with the NY pass.
also got the 7-day subway pass for USD27=really good deal. Day 1 was a breeze as I called (as intructed) and gotten a free airport pickup from Pan-American Hotel(about USD117/night all-in inclusive taxes etc) which is only 20mins from JFK. stayed 2 nights and remaining 6 nights at Howard Johnson Expess Inn- Queens slightly cheaper at USD 108/night all-in which is a newer hotel albeit smaller room breakfast included+more important for me broadband & wifi in room..got the 7-day subway pass from Grand Ave station (4blocks about 15mins walk from hotel) and went to Times Square Planet Holywood to collect the NY Pass. decided to activate the NY Pass only next day so after walking round Times Square, nice lunch at Le Rivage (USD22+3 for USDA ribeye=USD32 inclusive tax+gratuity for nice lobster bisque, ribeye, NY cheesecake and coffee), walk round Rockefeller Plaza, went to Chinatown & Little Italy (1 street in Chinatown) at Canal Street station. had a USD5.50 roast duck+roast pork early dinner (huge portion but only finish 1/2=decided that really cannot take any chinese food as w/o proper chilli these things are just not to my apetite)..
had really nice time trying out the various restaurants. the 2 best turned out to be Ichi Umi (of all things a buffet restaurant!) and a brit restaurant Maze (The London NYC Restaurant by Gordon Ramsey)..Ichi Umi USD28.95 dinner buffet is fantastic in the spread (so many types of fish sashimi but really not worth taking except for the 2 shell fish mirugai=geoduck & hokkigai=orange atlantic surf clam), sushi also not worth taking. why? cause the uni, ikura, teppanyaki lobster (not so the cold snow crab leg which is just about Kuishinbo standard), the wafu(Jap-styled) strip steak, the kabli steak and the 8 kinds of whole fish (flounder best, chilean seabass super, giant garupa good etc) are no less than fine dining...went Ichi Umi twice for buffet lunch (USD18.95) and dinner..and twice lunch at the fine dining Maze (the 2 course lobster bisque, aged ribeye ADD USD5=USD41 include tax+gratuity is superb worth taking everytime)...also went for Peter Luger's USD39.95 (USD51 include tax+gratuity) 1.5lb (680g) ribeye, Sea Grill @Rockefeller Plaza's USD55 (USD70 include tax+gratuity) 3 course lobster tasting menu, twice lunch and dinner at McCormick & Schmicks' Seafood restaurant.
all in all a rather satisfying trip...only the 22hr flight is a deterent to future visits...

brilliant! poem of despair read from top and of hope read from bottom...Lost Generation by Jonathan Reed

brilliant!
poem of despair read from top and of hope read from bottom...
============

Lost Generation by Jonathan Reed
January 20, 2009 in My poetry book



Lost Generation by Jonathan Reed….{http://www.youtube.com/watch?v=42E2fAWM6rA}



I am part of a lost generation
and I refuse to believe that
I can change the world
I realize this may be a shock but
“Happiness comes from within.”
is a lie, and
“Money will make me happy.”
So in 30 years I will tell my children
they are not the most important thing in my life
My employer will know that
I have my priorities straight because
work
is more important than
family
I tell you this
Once upon a time
Families stayed together
but this will not be true in my era
This is a quick fix society
Experts tell me
30 years from now, I will be celebrating the 10th anniversary of my divorce
I do not concede that
I will live in a country of my own making
In the future
Environmental destruction will be the norm
No longer can it be said that
My peers and I care about this earth
It will be evident that
My generation is apathetic and lethargic
It is foolish to presume that
There is hope.

And all of this will come true unless we choose to reverse it .

Read the message, then read it again in reverse.

Which generation do you belong in?

Dr. Li-ann Thio v. Random NYU Law IT Guy-Monday, July 13, 2009 12:48 PM - By Elie Mystal

http://abovethelaw.com/2009/07/dr_li-ann_thio_v_random_nyu_la.php

quote-
"The full Thio letter (reprinted below) goes into great detail about the conservative nature of Singapore's culture, and the difference between acting as a politician in Singapore versus a law professor in New York.

But you have to wonder if Dr. Thio has a skin that is thick enough to take slings (and straws) of outrageous NYC fortune. Take it from me, you can't blast out an 18-point memo every time some student writes down all of the ways in which he believes you are a terrible human being.

Seems to me that if you believe in free speech in an intellectual environment, you also have to support the right of students to express their displeasure about your political beliefs.

Read the letters from Graves-Pryor and Dr. Thio below".
====

must say sensible pragmatic advice...if you cannot take the heat...get out of the kitchen...it would be good though if people who espouse (and believe themselves to be bastion of) academic and intellectual freedom and ready to voice "today's heresey may be tomorrow's orthodoxy and vice versa" challenge themselves to survive the caldron of NY-styled liberal democracy...hopefully that may moderate their views and NOT to treat moderate even-handed views as "dogma of false neutrality"...

see also
Statement from Dean Richard L. Revesz of the New York University School of Law
http://www.nytimes.com/2009/07/23/nyregion/23nyu-text.html?pagewanted=1&_r=1

Dean Revesz found parts of Thio's letter offensive, quote-
"In the last few weeks, a number of members of our community wrote to Professor Thio indicating their objection to her appointment as a visiting professor. She considers some of these messages to be offensive. In turn, she replied to them in a manner that many member of our community—myself included—consider offensive and hurtful. These exchanges have been circulated on various blogs."

why? one maybe sympathetic to the emotional outburst but if you want to be a public figure, then you have to take the heat and be savvy and not hit out at all and sundry...the slur on "NY Law community" and "many faculty members" will only reinforce NY community's and western stereotype that Singapore society can only stoutly state/defend their views while denying others the same...

quote from Thio's letter-
"If the NYU law community is unable to welcome me because of my convictions, they should say so. I am sure many faculty members are doing some soul-searching, perhaps regretting their original invitation. I am not naive. But just reflect on how this makes me feel. I do not feel welcomed as a person; I feel unfairly treated and greatly disrespected. Would any academic (who is reasonably sane) want to go into a situation where hatred of a person, as oppose to "sharp disagreement" with their views, is the order of the day? Mr Graves-Pryor and those who share his views have succeeded in communicating their extreme disapproval of me / my views. They may rejoice in speaking freely, as the US Constitution protects, while seeking to intimidate others from exercising that same right through intimidation and abuse. I maintain my disagreement with their views and the viciousness of expression but this is perhaps to be expected, given the intractable nature of law and profound moral disagreement where an overlapping consensus is not possible or elusive.

If NYU Law as an institution is committed to a genuine diversity of viewpoints and respectful interlocution, it would be an institution I would be honoured to be given the privilege to teach at. If not, then be frank and say so."

my response to some market comments

Comments in Italic=
The US Stock Market (especially the financial sector running on government bail outs and Fed assistance) has surely recovered but the business sector has apparently still not. UPS is also a barometer of world trade as they are in the business parcel package movement business.

The 49% drop in UPS profits vs. 17% drop in sales means that they are also operating below a certain critical mass.

What happens after the fire fighting?

The higher the DOW went in the current overdrive, the greater the gravity of a pullback later to reflect both the economic realities on the ground and reduced government financial assistance due to mounting deficits pressures which is currently being suspended. In the short term, fighting a financial collapse is more important then any deficits worries. At some point, the government’s hand must get off from the free market function. A “market collapse” is the government‘s clear concern but a “market decline”, so long as it is not extreme, is not the concern of the government. There is no argument that a total collapse has been averted by the Obama administration.
=====
my response to ABOVE market comments

UPS and Fedex performances are barometer of economic activities…that’s why last month when Fedex did much better than expectations but forward view weak market made excuse to fall…comparison with 1 year ago gives few pointers since global meltdown + 10% unemployment of course revenue & profit falls…what is giving market strength now is not the financials but because of broad based performance above expectations…

All the wall street/CNBC pundits were criticising Obama and want Geithner sacked on TARP and saving wall street but were proven WRONG…the same sang negative tunes on GM Chrysler and said NOT possible to emerge from bankruptcy in 2 months. They were proven WRONG…wall street done themselves in and the whole world with them and armchairs can only criticise because they no need to do, to execute and solve problems that Obama, Geithner, his energy healthcare and other serious folks have to do and achieve…so wall street+ armchair are doing what they usually do so well = take $ don’t do any work screw things up and criticise others cleaning up their shit and making US and the world healthy again…

The same jokers crying wolf caused Dow to drop to 6400. Now that Obama team got financials stabilize, they find something else to scaremonger…of course stock market will go up & down and overcorrect in both directions…that is not Obama’s job…

That’s why the team is focus on healthcare, energy/environment etc after solving the more immediate financial system threats, and GM/Chrysler collapse…

Of course the government’s hand will get off the free market function…government never intended to get on in the first place but the idiots who collect $b bonus and shit all over the place beg the government to come clean up so they can criticise the clean up…”Nationalisation” and “government interference” are the dumbest of arguments…if Warren Buffet puts USD180b guarantee or owns USD45b of a company’s shares will he not “interfere” and let the idiots continue to screw the companies, screw America and the world?

Andy's HK trip 9-11July2009

took advantage of SIA A380 inaugural flight to HK promotion on 9July2009 to fly peasant class last week at just S$298, tax and surcharge inclusive. must say the new economy cabin with 19" seats and 10.6" LCD is true luxury for a peasant (lucky me!) and I got upper deck aisle seat on 2-4-2 configuration to boot...

btw aerobridge is connected direct to upper deck...seems that HK airport ground staff haven't practice how to operate this and we got stuck for 1/2hr waiting for cabin door to open..price to pay for taking any flights or hotels for opening discounts but hey as long as we are safe the rest can be taken in stride...

booked myself into Royal Park, a relatively new (again cheap) hotel at Shatin, good size 24sq m room for just HKD900 for 2 nights (see photo), connected to Shatin MTR station and like 4 malls for endless shopping...read many raving reviews from other peasants and not disappointed...took A41 double decker aircon bus from airport for just HKD21 to hotel (2nd stop right in front of Royal Park Hotel) after 1 stop at Shatin bus interchange which was <5 minutes from hotel..the journey took just 40 minutes on a thursday afternoon (2.40pm - 3.20pm)-and same 40minutes from hotel to airport on saturday afternoon (1.40pm-2.20pm)..bus frequency every 20minutes..

had dinner with Brian Ho at Chao Inn (潮楼) at 1 Canton Road Tsim Sha Tsui owned by Taoheung (稻香）group which is like competitor to Maxim (美心). costs Brian a hefty HKD750..the soy goose meat was really good so was the pig stomach soup. the mid-size cold flower crab at HKD498 however was quite a disaster (c/w what I had several times at Maxim's 潮江春at Lippo Centre)-real heartache...but then the 10 floor restaurant faces the Victoria harbour and the window seats require minimum spend of HKD300pax so I guess just treat as paying for the view haha...the vista was fantastic of course though The Symphony of Light (Guiness Book of records for largest permanent display was like "don't know what it was"??)...after that a stroll along Avenue of the Stars harbourfront was quite nice...

next day I took E42 double decker aircon bus from hotel doorstep to Tung Chung cable car terminal on Lantau island next to airport - again a nice ride no jam 40minutes for HKD13.6 (must take bus more often)...there I took the 25 minutes ride by cable car crystal cabin aka glass bottom to Ngon Ping cable car terminal costing HKD157 return to see the Tian Tan Great Buddha (天坛大佛), a 32m 250 ton bronze buddha statue-largest in the world...the vistas include the vast South China Sea, the rolling grassland slopes of North Lantau Country Park, panoramic views of Hong Kong International Airport runway and planes taking off, mountainous terrain of Lantau Island, the Great Buddha Statue and the 360-degree view of the Ngong Ping Plateau..see http://www.np360.com.hk/html/eng/booking/prices.html) also see photos..

from Tung Chung I caught the MTR to Wanchai (change at HK station) and went hunting down Bo Innovation (see http://www.boinnovation.com/) address Shop 13, 2/f, J Residence 60 Johnston Road Wan Chai(Private lift entrance on 18 Ship Street) t. +852 2850 8371...

the out of the box tattooed chef Alvin's (a sometime rock and roll performer) mod restaurant was on the itinerary of Anthony Bourdain and attracted a 2 star Michelin rating in Dec 2008...I took the HKD178 set lunch (would love to go back with Lisa to try his HKD1080 degustation menu)..you get a choice of 2 innovative fusion tim sum, choice of main + a starch (which was olive fried rice) + dessert (some sorbet quite forgettable)...I took the wagyu xiaolongbao (came as a pair topped with a heap of caviar)..caviar was good, skin was good, wagyu or not, the filling was sweet however not enough sweet tasting soup with the filling which I thought should be the distinguishing feasture of xiaolongbao..instead of the foie gras pot sticker which comes with just a dash of FG in the filling, I chose the real thing - pan friend foie gras with miso sauce..this was taken with a cabbage leave wrap...quite nice really...but with HKD35 supplement meant it was HKD70 (as second timsum item was included as part of the HKD 178 set) it was a bit small (I probably try the foie gras pot sticker and the black truffle fun chiong next time)...for the main I took the sweet vinegared 24 hr pork belly confit (the taste of vinegared pork trotters which I like)...overall the HKD213+10% lunch was ok good I guess but not super value (say c/w Dozo's S$39.80 6 course lunch)...see pictures

ate some HKD19 beef inards noodle （牛杂面）along chiu chao street at Wanchai (came with a nice thick iced coffee too)..this the real tecochew stuff..see picture..

next day, before lunch with James Ho & airport, I took a stroll up 400+ steps to see the Man Fat Sze (万佛寺）or ten thousand buddha temple..a really nice walk...will do again any day...most enjoyable..see picture..

see more pictures at http://andyquak1958.spaces.live.com/default.aspx

super oishi (nice) grade 5 wagyu 14-course dinner

just had super incredible oishi (nice) Grade 5 wagyu 14-course dinner at 寿屋@ Kawaramachi Kyoto for 3500 yen = S$53.60 all-inclusive service and tax this evening...

its like every course is beef...started with ishiyaki (hot stone grill) 3 slices of melt-in-the-mouth wagyu with mushroom & taupok (bean curd skin)..then beef capaccio salad also 3 slices...then a non-descript (ok lah) cold soup with very sweet tomato and onion (not quite like spanish gaspacho)..then a bento tray containing 6 small square boxes - 3 slices rare beef with ponzu sauce, 3 slices raw beef with egg, 1 beef sushi, yuba (curd of soy bean), 3 slices beef sashimi, minced beef & seaweed...this followed by a steam dish-minced beef ball with yam and raddish, then egg tofu with prawn and bean and seaweed and guess what-haebeehiam (dried prawn chilli)! AND finally finally comes beef ramen-there is no beef only a piece of fat floating but ramen was great and the soup is sinful but heavenly, had to finish every last drop..followed by gohan (rice) with pickles and some dried beef to be placed on top of rice....last ice-cream...

WELL...what are you waiting for? dash down to-
寿屋=www.ajibil.com group @ Address=Kawaramachi - sanjo (south of Rokkaku Dori) 6048032 L4 Tel=075-2231431 hp=08061044173 email=k_nishi@abijil.com

if you are in Kyoto that is...

by Wayang Party - Dr Ng Eng Hen’s revised approach to sex education in schools fair and balanced

agreed completely with Fang Zhi Yuan that “Instead of feeling aggrieved, Dana should get MOE’s hint and embark on a PR campaign to gain the public’s trust and confidence for its CSE. I believe that the majority of Singaporeans will be able to judge for themselves”. there is no need for AWARE or Dana Lam to be defensive. AWARE has done a great job last 24 years for women and Singapore. It is truely “grossly unfair that the programme has been so misrepresented to the public”..as the quoted text is only in the instructors’ guide and like 1.5 minutes in a 3 hrs session…nevertheless it does not mean AWARE should make the mistake of not LISTENING to the genuine concerns of parents…there is nothing wrong to review and improve on the CSE based on public’s feedback, objective scientific information and research..AWARE and society in general will benefit by focusing on the end results - the teenage girls and their family AWARE is helping - than worry too much over the endless bitching…

I do not see MOE and the government as capitulating to public pressure. The government has been unequivocal and never clearer on its stand on this issue both during the AWARE saga playout and now strongly spoken by DPM Wong Kan Seng and Minister Ng Eng Hen. Those who think they can pressurise the government can continue to feel happy about themselves as long as it does not culminate in actions that harm the rest of society…many of the passionate supporters of AWARE OG to remove the former new exco are also concerned parents and there is no reason for MOE or AWARE to disregard their views or genuine concerns if any on CSE but to address such concerns logically and rationally…

as the writer of the article said - “I believe that the majority of Singaporeans will be able to judge for themselves”. The CSE is just a red herring by a misguided group who are as one comment noted “religiously inspired but morally and ethically challenged”....supported by a senior pastor who cannot differentiate between truths and lies. and the secular community and AWARE supporters have risen to put them back where they belong…

EV News---Daimler buys stake in US electric carmaker Tesla

BERLIN, Germany - German luxury carmaker Daimler said on Tuesday it was buying a 10 percent stake in US electric car manufacturer Tesla as it attempts to plug in to the market for electic cars.

Daimler paid "around 50 million dollars" (S$73 million) for its share in Tesla, the manufacturer of the "Model S" electric car, a much-anticipated vehicle with a range of 300 miles (480 kilometres).

The two companies will collaborate on batteries and electric motors, a joint statement said.

"Our strategic partnership is an important step towards accelerating the worldwide commericialisation of electric vehicles," said Thomas Weber, a Daimler board member, in a statement.

Daimler recently snapped up a stake in German group Li-tec to facilitate the manufacture of the lithium-ion batteries needed for electric cars.

The German car giant intends to roll out several models of electric car by the end of the year.

In September, Daimler said it was joining forces with RWE, one of the country's largest energy providers, to create a network of electric cars and charging stations in Berlin.

The scheme will be the largest of its kind in the world and is set to start by 2010.

Temasek sold BoA at huge loss!

Sources tell Reuters that Bank of America was likely not the first choice for Temasek because B of A did not offer the global banking franchise that prompted Temasek to buy into Merrill and other Western banks.
==========

That’s what they will have us believed!

Want to be largest shareholder in dynamic Merrill Lynch (a Global Investment Bank) – which is dead duck and a casino and fraud and reason for the collapse in the first place and don’t want to own a small 3% stake in an enlarged BOA, the small stake in a large deposit-taking bank – which is the safe recurrent high growth utility and future banking model which anyway own 100% of the so-called dynamic Merrill Lynch (a Global Investment Bank) which are besides themselves and can’t stop defrauding taxpayer by $4b bonus even on the last day!

A US$2.6b to US$4b loss even in a US$130b portfolio is NO tactical mistake but a glaring failure….this doesn’t take away Temasek’s past and current success…but a success is called a success and a failure is called a failure, nothing to hide and nothing to be shy about….

Tesla Model S

http://www.teslamotors.com/models/index.php
Tesla hopes to electrify the auto industry with the brand new Model S.

The Tesla Model S all-electric car made an appearance on "Late Night with David Letterman" on Wednesday. The $50,000 four-door will go up to 300 miles per charge of its lithium-ion batteries

http://www.thedailygreen.com/living-green/blogs/cars-transportation/tesla-model-s-460409#comments

It is 2011, and the Martin family of seven is going on vacation. Do they hop in an SUV? No, instead they board one of the greenest (as well as sexiest) cars on the planet, a Tesla Model S sedan.

It's not much bigger than a Taurus, but the Model S swallows up all of the Martins, plus their luggage. The kids (tucked into two rear-facing jump seats) fight over access to the 17-inch infotainment system between the front seats, which can make cellphone calls, access the Internet and stream music. Their destination is 300 miles away, but the Model S can handle it without stopping. No problem, it has an 85-kilowatt-hour lithium-ion battery pack on board. Tailpipe pollution? Zero, it's a battery electric car.

Is this a fantasy? Not at all. The Tesla Model S is very real, and it made its New York debut this week at a gala party in lower Manhattan. Chris Paine, the director of Who Killed the Electric Car? was there; his next film is about the EV's revenge.

The curvaceous Model S, designed in-house by Franz von Holzhausen (ex-GM and Mazda) will be on the market in two years, priced at $49,900 (reflecting a $7,500 federal tax rebate). I got a chance to ride in the car, but not drive it. The trip was short but memorable. The S does not seem quite as blindingly fast as its sister, the Tesla Roadster, but it is eminently more practical. It's also about half the price. What's not to like? Despite the economy, nearly 1,000 people have put down $5,000 deposits.

Tesla CEO Elon Musk (and the Model S) were on Late Night with David Letterman right after the party, and while Musk kept a straight face, Letterman (who had apparently lost his voice) was mugging for all he was worth. At one point he interrupted an important point (Musk was going to say that the lifetime ownership of a battery car like the Model S is low compared to conventional vehicles), but Letterman interrupted him with a broad joke about getting "shocked" by the car. Silly, but you don't earn longevity in late-night TV by coming off like a tenured professor (even though he looks like one).

just my opinion

http://wayangparty.com/?p=8931

thio, josie & co were uterly irresponsible and should do the honorable thing and pay back 70k or whatever amount above 20k as provided in AWARE constitution as the money “can be better spent on the women and families which Aware set out to help”. in my opinion, if they do not AWARE should proceed with the lawsuit if AWARE can get a lawyer to do probono which surely they can..this is not about being vinditive but the women who need help deserve to get these monies back..also while Rajah & Tan has no reason not to charge AWARE since the EGM is not an issue about social servie and it is not their fault that Josie & co that make the bad decision to pay for exorbitant legal counsel or any at all..nevertheless R&T should not be insensitive to society so perhaps WP should start a petition to ask Rajah & Tan to give back whatever monies they have charged AWARE as probono legal service for battered women, discriminated minorities etc…
I disagree with Eugene’s views on MOE and Religion…just as many of us are signatories in support Vivien Wee’s online petition against Jocie & co, WP should not be partial to the sentiments of >1000 parents whether or not they are christians and whether or not they were instigated by thio belatedly to counter MOE’s questioning of Thio…there are many including myself who disagree that anal sex is healthy..and though in my opinion one should be neutral and not discriminate gay or non gay, that is quite a different proposition from encouraging or promoting teen experimentation with gay and anal sex etc (I see no evidence and do not believe AWARE is doing that, and in my opinion it is thio & co demonising AWARE)..still it is no harm and only responsible for both MOE and AWARE to review and revisit and after proper research and consultation offer a considered response on whether or not it is right to say anal sex is healthy…
I also disagree that WP should castigate christian post or other online community though eugene like everyone else is entitled to his personal opinions on this matter…christians are entitled to their convictions and opinions as much as any majority or minority groups, secular or faith community…there are also many unreasonable posts and unsubstantiated views in WP as in MSM etc..so in my opinion we should all give each other space and not push one’s opinion too hard especially in another’s space…just like thio & co ought not to do..

Learn from Aware saga: DPM

'WELL, I think all sides should take away the right lessons from this and focus on wanting to serve the community and do your best.

I think there will always be differences in society; it is a question of whether we can deal with them in a sensible way, learn how to accept one another's differences and still work together for the good of this society. There are people in our society with different views and if ... we push them too hard, there will be a push back from the other side. You are not going to resolve some of these differences because they are strongly held and you risk polarising society if you push too hard.

I think if you believe that what you are doing is right, well, live a good life, do good work and persuade people by how you work and live rather than pushing your ideas in a much more pushy way. I think there are ways where we can engage with society and still live with our differences.'

Holland Village Nude - They did it to 'seek thrill'

http://www.asiaone.com/News/Education/Story/A1Story20090502-138825.html

An A*Star spokesman told The New Paper: 'Naturally, we are disappointed that one of our scholars is guilty of an offence. A*Star will now review the matter with Kai Er and decide on the appropriate course of action.'...

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A*star gave the appropriate and not overly pre-emptive or judgmental response to the press. It is wrong to break the law and it is wrong to walk in the nude in Singapore and impose on and outrage others' sensibilities...though it is no excuse but everyone makes mistakes, and many went on to contribute significantly to society after making 1 or even many mistakes...hopefully A*star will review the totality of a person's character, overall moral compass and consistency of actions over a period of time, and not over just 1 incident...

LIVE from Suntec: AWARE EGM, 2 May 2009

http://wayangparty.com/?p=8732&cpage=1#comment-11548
LIVE from Suntec: AWARE EGM, 2 May 2009

kudos to all the women & men who braved inconvenience and being shouted at by the new exco and almost manhandled by security, and well including those supporting the new exco out of genuine own beliefs though I do not agree with them….but not to those who came by busloads egged on, organized and paid by a church (if true) and supporting the new exco just because they are christians and from the same church…

this is a great day for Singapore and for women, as a Muslim attendee said “I have one regret being a father, I regret that my daughters are not here today to witness the spirit of the women at Aware today.”

Women, civil society & Singapore as a whole have already won and will gain from this event (truly we are aware)..even if the old guards were to lose the vote because of mindless support for newco from new members who are as clueless and care-less about the problems of women as the new exco who have zero records of contribution to women, in the eyes of Singapore they have still won..and the practical business of misappropriation of AWARE funds by new exco can be pursued in due course whether or not new exco won the vote…

& kudos for the reporting team…keep it up!

Chrysler bankruptcy

http://dealbook.blogs.nytimes.com/2009/04/30/chrysler-lenders-fault-government-as-bankruptcy-looms/

Lenders Fault Treasury in Chrysler Bankruptcy
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the arguments are partial and not the whole truth…

the workers also take paycuts and reduction of benefits, not just a haircut on the pension liability conversion to equity…so it is a holistic balance of interests and rights…

commercial negotiation is always a matter of negotiation power..it does not matter whether it is the US Treasury or Warren Buffet…if Warren Buffet were to dish out new US$4b or US$7b loans, he will impose conditions he thinks is fair to all parties and it is just a matter of commercial negotiation to close the deal…why should US treasury be different?

if deal is not struck then the case goes to chapter 11 bankruptcy..what overturning rule of law and “outside the well established legal framework” is there?

it is just a failed negotiation with 90% agreed and just 10% holding out by non TARP lenders and if it si clear that these lenders will receive less in chapter 11 than if they had agreed so goverment is totally correct to say they are not acting in their own commercial interests…obviously the non TARP lenders are either in a game of brinksmanship or they believe they will get a better deal in bankruptcy…so lets just stay tuned…

moderation & tolerance

moderation, tolerance and mutual respect is important and people in a position of religious and moral leadership should have special regards not to sow seeds of discord and hatred in scoiety and moderate their own constituency and not pit one group against another…
as Minister Teo Chee Hian said if you push your argument too hard, others will push back at you, that’s why there is strife and war….
if press reports that COOS senior pastor Derek Hong has sent out emails to his church members urging them to sign up with AWARE and support the new AWARE team at the EGM is correct, then in my opinion he should reflect seriously he is doing the right thing…
it is ok for the pastor to have his personal opinion on AWARE..it is maybe ok for him to openly state his personal opinion on AWARE to his associates, less so in a sermon in COOS, but it is quite inappropriate for a person in religious and moral leadership to overtly or covertly influence his flock to affect the outcome of a secular institution like AWARE..
it is ok for the pastor and COOS to sermonstate or sermonize their beliefs and position on homosexuality inside, or outside the church if it is done with respect and moderation…but the issue of new or old guards at AWARE does NOT equate the issue of homosexualtiy…and the church has no business actively interfering with the affairs of a secular organisation….
if press reports are correct that COOS first denied to the press that the church is involved in AWARE saga, and now openly canvass to affect the outcome of AWARE EGM then the church is condoning deceit and has no credibility…people in position of religious and moral leadership should be very careful and balance in what they do or say so as not to sow discord and hatred…do things with compassion not with mean spirit and narrow-minded hatred and to benefit society not contribute to chaos…

Obama's housing plan - socializing losses?

Internet sensation
In his report on CNBC, Santelli said responsible homeowners would end up subsidizing other people's bad behavior.

From the floor of the Chicago Board of Trade, he turned to traders and said: "How many of you people want to pay for your neighbor's mortgage that has an extra bathroom and can't pay their bills?" The traders booed that notion, and Santelli said: "President Obama, are you listening?"

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below my take on Rick Santelli's rant..

....it is very onerous and punishing to expect decent responsible hardworking americans setting out a new home and family completely within their means in 2006 or 2007 (say monthly repayment below 31% of household income)...

home prices may have fallen 30% to 50% because an irresponsible neighbour defaulted and his property foreclosed at fire sale price and even hardworking folks perfectly able to pay the mortgage may default (rational default)...

who is to blame?..cnbc anchors can repeat lopsided sensationalized comments about socializing losses and privatizing gains when the housing plan is to help 7million of their responsible fellow citizens caught in this global collapse and yet they are quite happy to attack Obama when he criticized the $18billion Wall Street bonuses as the "height of irresponsibility" and "guys please show some restraints"...so some segment of the press are quite happy with privatizing gains and socializing losses when the $18b bonuses go to the powerful Wall Street boys that caused or allowed the collapse under their watch (their greed causing miseries to hundreds of millions around the world) but not so happy when it goes to 7million of their fellow americans...I guess that is the "height of irresponsible reporting"...

still Obama administration has lost the initial spin and in a free debate it is necessary to hear all sides...so it is important to address the real concern of the american people about not subsidizing the unworthy (Wall Street fat cats or irresponsible Main Street next door neighbour..and don't worry about restricting bonuses - there are lots of perfectly decent hardworking Wall Street folks waiting to contribute once the fat cat culture is gone..)...but ignore the rants and not add any credit to it...

Job Credits - stimulative package Singapore style

no one quarrels with dipping into Singapore reserve...extraordinary/unprecedented times require extraordinary measures...Obama said it, Kevin Rudd said it, but I guess no plagiarism there...

not totally bought-in on whether job credits is innovative...something is innovative if it is a new way to solve a problem...job credits is new thinking no doubt just not sure if it solves the problem...NTUC is lately adamant against CPF cut...Lim Boon Heng earlier said it is across the board and penalise workers in companies that do well despite recession...Lim Swee Say said when rebutting Low Thia Khiang "does WP want Job Credits or 9% CPF cuts"...Low is seasoned enough to say he don't want both..haha...job credits is labelled as "smart bomb"...not quite sure why it is smart bomb when it is also across the board for all S'pore and PR workers with CPF account? if the purpose is to lower costs for employers (supposedly to temporarily keep jobs but as many have said why would employer pay $7500 and wait 3 months to get back $900 credit if he don't need the workers?), so what is the difference as far as employers is concerned whether it is 9% CPF cut or job credits? the only difference is whether the employers' savings come from $4.5b job credits or from workers CPF...but if we cut workers CPF then the $4.5b can be spent in a targetted way for specific group of workers or industries or income level, so higher income workers above $4.5k/month will have effective pay cut (from CPF cut but better than lose job) but then the $4.5b pool from reserves can be more targeted to help either certain low income group (workfare etc) or certain targeted industries...why is job credit a smart bomb when it is "one size fits all"? taxpayers don't want to subsidize already profitable companies nor companies which will fail anyway after getting "temporary" job credit bailouts for 1 year?

of course there could be other reasons for not touching CPF-maybe it will trigger property loans repayment default etc...but those reasons maybe should be investigated and communicated...maybe messy to have temporary 1 year 9% CPF cut vs one-off job credit scheme (hmm..not sure about that)...maybe part of job credits are for government linked agencies so go back to consolidated accounts anyway but unlikely that is big % of $4.5b?

though many brilliant minds (scholars) have gone into job credits and government as always have studied thoroughly before introducing an idea, still no harm to listen whether WP or PAP or others if there are other views, considerations, solution, or at least revisit issue and explain better...

Miracle on Hudson River

plane crash-landed on busy Hudson river next to Central Park and all 155 passengers & crew rescued..a miracle no less because of the 57 year old captain's intelligent calm skillful handling and the rapid response by 14 commuter ferries, fire department, coast guard and fast, effective evacuation of passengers by the brave crew (captain walk up and down the sinking plane twice to check that all are rescued before being rescued himself) etc...an unusual "double bird strike" stalling both engines at 3000 feet by a flock of geese minutes after take off caused rapid loss of altitude from 2000 feet to 400 feet and narrowing options, and pilot had to make a series of sharp turns to negotiate the plane to crash land on the narrow stretch of Hudson river, where temperature is -7degC, and only 1 passenger broke both legs, all safely rescued including baby and passenger on wheelchair...the best inspirational story to be read and reread on Readers Digest for a long time...

kudos to a Korean Court which jailed a Korean man 30 months for raping his Filipino wife...he got the poor Filipino women in 2006 through dating agency and was accused of repeatedly forcing her to have sex by threatening her with stun gun and knife...this a first in Korea's male-oriented society, seems only other case was a man convicted of indecent assault on estranged wife.. come to think of it, not sure this ever happened in Singapore?

a Singapore van driver hit two 9-year-olds on a pedestrian crossing near Old Airport Road on their way home from school, landing both in hospital and leaving one still unconscious with head injuries. the 2 had almost reached the end of the crossing when a van came "very fast" and hit them...such reckless drivers should be banned from the roads forever!

a China women was sentenced to death, convicted of hiring a killer to kill her own 9 year-old son in order that she can have a child with her second husband..the man she married after her 1st husband died already had a daughter. she hired the killer to kill the girl but she got away, so she got her son from the previous marriage go to a meeting with the killer who then strangled him. such sentenced are usually commuted to life subsequently...it is easy to blame China's one child policy however one must be inhuman or totally deranged to commit such unspeakable horrors....

a China maid in a Shanghai county put a 1 year old baby on a chopping block and slashed her with a kitchen knife..the father rushed into the kitchen and snatched the baby away after the mother heard her screams...the mother was also injured when she struggled with the maid...the baby suffered 5 slashes, needed 100s of sutures, one injury severed the nerves and her face was totally scarred...

so many sad things happening in every corners of the world, what with Gaza, Zimbabwee etc...at the same time, the world is becoming more aware, proactive, green, and maybe Obama will bring hope and leadership to the world and leave our next generation with their earth's inheritance intact!

any other day

had my weekly swim at Keppel Club...just 16 laps (junwei is on 20 laps)..feels good. weather getting just bit colder...pool water is cold even at 10am..

went to Domes cafe @ Dempsey to pick up something from a banker...

Jun & I decided to go makan nasi padang at Kim Seng Road but I decided last minute to have pig trotters at the hawker centre instead...very unhealthy but shiok...hehe...

it was 12.20pm just ahead of lunch crowd...put my food tray on a 4 seater table & went back to get the second bowl of pig trotters for Jun. had a minor tiff with the young girl mid-twenties on the next table...went like this (this is our table...I am sitting here, my food is here...I was sitting here before you...when I put down my food (tray) you said nothing...you just put down & went off so fast...) whatever...anyway solution - there was an empty table 10 feet away so I moved my food over no point expense my mood on this unproductive thing (you don't own the food centre, my friend) --- in my mind she placed nothing on the next table...and you cannot reserve the next (2nd) table for 4 when you have 4pax and already occupy 1 table of 4 especially when the hawker centre is getting crowded...

anyway had a real enjoyable lunch (sinful things usually enjoyable hehe) get back do some work and later may go gym before my evening engagement....

Tai Wah Pork Noodles (bakchomee) #02-17 Hong Lim Food Centre

wife and youngest daughter went shopping at vivo-city.

wanted to get out of the house so drove to Shaw House. walked through Isetan Orchard. things are really expensive even with 50% off 70% off sales, what with the recession?

2 years ago during CNY period I bought 3 pairs of Timberland shoes for like $250! now even with 30% off similar Timberland shoes are costing $250 less 30% (or $175!)..where is the sales?

walked along Scotts road. now they have sidewalk cafes for McCafe/McDonald's, Starbucks, Canele...and bubble tea is like $1.20 only. walk over to Level One (thought it was still Metro! how long have I not been here).

contemplated taking the $2 McDonald's double-decker cheese burger, but decided to drive off to Hong Lim food centre to try out the Tai Wah bakchomee instead. got behind a constant queue of 6-7 and got my $4 meekia dry after 15-20mins. think this is the best (& cheapest!) I tried of the 3 Tai Wahs (recently the eldest and youngest brother had a public spaton the Straist Times), better than the one at Crawford Court and Vivo Food Republic (about same as the Marina Square stall which had closed down). the noddle is springy (qq), the vinegar a tad too much, the 2 meatballs, liver, pork slices, minced pork, 2 dumplings, dried dace all great stuff worth the queueing.

the Outram Road char kuay teow @#02-18 was closed, but there is longer queue even at Kee Kee wanton noodles @#02-49. the curry chicken noodle Heng Kee at level one is closed, but the Ah Heng curry chicken at level 2 (the one I prefered) is open. <>

"Money No Enough 2" by Jack Neo

last evening, my whole family went to watch "Money No Enough 2" at the club.

this was the second time my wife and I saw the movie. my 2 daughters like it. my son slept through parts of it. my wife didn't like the depressing theme which she viewed as real, something encountered in daily life and not funny, and that the audience found it funny and laughed throughout the movie.

I thought it was really good, very realistic in capturing the behaviour of Singaporeans (and perhaps people in general) as my elder daughter also said. I felt the movie was no slapstick. the fact that the movie was peppered with laughter throughout showed that the audience really identified with the many scenes and instances in the movie. that my wife felt the issues were real and everyday problems and the theme was depressing also showed that the movie has substance and insight and is not just bent on gaining laughter.

the 3 brothers each suffered setbacks of their own making, whether it was due to greed, reckless irresponsibility in the youngest brother (Mark Lee), selfishness and hyprocrisy especially in the second brother (Jack Neo). the problem of the aging mother striken with diabetes and alzeimer is indeed real, an everyday struggle for many, and discomforting.

it is all too easy to judge until one is faced with a constant daily nursing effort, costs (rising healthcare costs and priorities of a profit-driven listed hospital group are the issues in focus here!) and inconvenience coping with a aged, sick and immobile parent (like having to wash 6 towels a day soiled by urinary incontinence of a diabetes patient etc). parents are generally willing to cope with sick or disabled child and stoically assume the hardship for a lifetime yet the same people often are not likely to do the same for their parents (or probably even their spouse) less than grudgingly. perhaps it is human nature that love for our children are largely unconditional but the same may not apply to parents, spouse or another adults, whereas the protective feeling towards our children always remain that way even when they become adult.

while my view is that we should tend to our aged parents as we would our children, sick, bedridden or striken by alzeimer, I am unwilling to judge others. also I do not think I can be a very sensitive or caring caregiver (certainly less useful than a professionally trained caregiver) though not a grudging one-in my case it is moot as my parents passed away when I was 18 and 19.

anyhow my view is that quality of life for both the one needng care and his(her) family would improve if Singapore and elsewhere develop and expand more professionally managed retirement homes where proper healthcare, nursing and leisure/community needs are met by professionally trained caregivers. people should still take care of their aged parents and not dumped them in the old folks home, but at least there is a real choice and quality alternative, not one where old folks feel unwanted and deserted.

anju restaurant @ arashiyama : "superb yuba & black hair Japanese beef set"

Arashiyama is a 15miutes ride from Kyoto station (via JR Sagano line Kyoto Station Saga-Arashiyama Station). It has everything for a 1day excursion (or 1 night ryokan stay) on the outskirts of Kyoto from Togetsukyo bridge over Hozu river to bamboo grove to tenryuji temple. We had an excellent stay at togetsutei ryokan recently on 17.12.2008 (the kaiseki is tops) and we chanced on a really great lunch the next day at Anju Restaurant located along the road from togetsukyo bridge along Saga Tenryuji Ktatsukurimichicho just past Tenryuji temple entrance and before reaching the bamboo grove turn-off.

My wife and I both had the 3900Y set. Except for the wagyu (& fish) it was an entirely yuba set. This was a really great combination for us. While we were both keen on good yuba set (having tasted a really marvellous 3500Y set at a yuba restaurant along the road leaving kiyomizu temple during our last trip) we decided though that we would not pay that kind of money again for yuba no matter how good the yuba was so we skip the yuba restaurant Shigetsu in Tenryuji even though it came with good reviews.

We had yuba sashimi, and it was really nice - fresh, refreshing just ike sashimi (but nothing like real sashimi nevertheless), a deep fried yuba dish which is really really superb, a bean paste starter, a simmered dish beancurd, 2 fried fish pieces with roe, and mochi dessert+ a fried starch cube - nicely sweet and tasty similar to sweet non-savory version of Korean nian gao.

The main course was a good grade wagyu sirlion steak done rare (though my wife complained that hers was more like medium rare). It was marbled and very tasty and tender. In my opinion, this Anju set is really value for money. The wayu steak would have cost upwards of 2500Y in any average Kyoto restaurant, and the yuba set w/o the steak would be almost a match for a 3000Y set in a good yuba restaurant.