Sunday, November 23, 2008

Ho Ching takes a pay cut!!!

Now that is one piece of news that is going drive Singaporeans to a panic!!!!
Voluntary pay cuts by our elites....OMG what would ever bring about such a painful sacrifice.

For those who are worried about Ho Ching - you really shouldn't worry too much because you don't know how much she is paid in the first place so you don't even know she will be getting after a 20% paycut - if this is suppose to be some kind of painful sacrifice it is completely meaningless. ...20% of what? This is like a seller giving you a 20% discount but doesn't tell you the selling price is. Are you supposed to be impressed? But some people are in a panic ....what is the reason behind this pay cut...


18 comments:

DanielXX said...

my god u even have a spreadsheet to track the investments? this is wat i call blog dedication arghh!! pei fu pei fu!

Anonymous said...

Be careful Lucky..in case you kena accused of "waging a ..campaign to" fix our elites :)

Anonymous said...

LuckyTan,

from the diagram, the overall investments have lost half of its original capital value !

Shit, why are they cutting only 15-25% of their salary for their dismal performance ?

It should be according to the loss of investment !
The cutting must be "50% of their WHAT SALARY" which in line with the loss of investment ! We are been shortcharged again !

Clear eyed said...

As Lucky said, we don't even know how much they are paid. They can claim to cut their pay by 90% and no one's the wiser.

Anonymous said...

My prediction is that the economy is real bad this time so there must be some unprecedental action now to show and pave the next unpopular policy. Mark my word - next comes will shock all Sinkaporeans and be prepared to sacrifice to hold this red dot above trouble water.

The immediate one argument: how could those lost in their personal investment in Lamen or so to claim compensation, if our most powerful lady in the world has to take a pay cut for loss in a company's investment?
Think hard and you will understand why this time comes the pay cut.

Alexius said...

Ho Ching is still well paid alright. Even with the pay cut, she would still have the income to feed properbly 10 middleclass households, $5000 a month. If she couldnt survive financially from her own salary, she could always run to her husband, who is the most paid president, her father in law, her uncles and cousins who are all rich and luxurious. So dont worry about her, she is more than find.

...............
http://thesuffocate.blogspot.com/

Anonymous said...

If you have friends in Temasick, u may want to ask them if they are making any $$$ in derivatives.

Anonymous said...

Why, under the same breathe, they indicate they will beef up staff strength by 1 pct over the next 2 years. So what gives?? Its shadow boxing, when you dont have real figures

Anonymous said...

At the beginning of the sub-prime saga, seasoned market gurus like Warren Buffet and Jim Rogers warned investors to STAY away from all the US banks as it was just the beginning of the decline.

http://www.msnbc.msn.com/id/21471227/

GIC and Temasek went AGAINST the advice of the top investment gurus at that time and gleefully poured billions of our reserves into the troubled banks. Those fund managers and their CEOs must have believed that they have superior market information/clout/ability to invest AGAINST the advice of the experts.

Now, all those purchases into the troubled banks are deep in losses. GIC and Temasek have shown that they were grossly wrong in their market call as compared to the market gurus. Billions of our reserves are now sitting on losses as a result of their poor decisions.

Will such a voluntary paycut suffice or are they doing so to relieve pressure for heads to roll?

SR said...

Can someone explain to me the point of all this complaining when at the end of the day, we're doing nothing about it?

Unless everyone's hoping that someone will do something?

SR said...

Only lost $18,695?

Or is it $18,689,000?

Anonymous said...

With all this talk about pay cuts, our dear leaders' salaries seem to have been left out. I seem to recall that another increment is due for them around this time. Can anyone shed any light on whether this has taken place?

The said...

Jezuz HG Christ, how much can be done to help poor Singaporeans with those paper of loss of S$18 billion. How many plates of char kway teow can we buy with that...

Anonymous said...

Her pay cut sounds like a sales gimmick. Like a bogus sales where original price is $100 but they raised it to $120 and then say they give you 20% discount !

Just another wayang show to play down the discontent among the ordinary citizens who are wondering why on earth tax payers are paying multi-millions to the gahmen ministers when even the US president earns much less and their country much larger than S'pore. !

Daniel Ling said...

I fainted while looking at the spreadsheet. Pls allow me to post this on my Blog. Thanks in advance.

I'll remove it immediately if u ask me to. I hope u won't. =D

Also Linked ur other article
http://singaporemind.blogspot.com/2008/11/breaking-news-us-govt-rescues-citigroup.html#links


http://informationreadbyme.blogspot.com/2008/11/ho-ching-takes-pay-cut-from-singapore.html

Once again, i sincerely hope u will allow this linking.

Anonymous said...

And that is only the major 4 foreign bank investment. U haven't include those misc investment in smaller banks, and not forgetting property related like freddie and fannie. I won't be surprise if the total losses come out to 10 times the $18b that was tabulated.
And they still have the cheek to say that their losses is above average as compared to others.
I think the whole lot of them including ho ching should be sack.

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