Tuesday, October 13, 2009
Saturday, October 10, 2009
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...
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...
Thursday, October 8, 2009
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
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
Wednesday, October 7, 2009
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.
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.
Monday, September 28, 2009
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...
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...
Saturday, July 25, 2009
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?
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."
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?
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?
Monday, July 13, 2009
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
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
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