Singapore general election will be held on 7 May 2011. Investors' expectations are over-optimistic.

Source:

"So I think a lot of investors have plugged in very lofty expectations because over the last three GEs the PAP has only lost two seats so far, and given these are lofty expectations, should the opposition win more than that I think the markets will get slightly hit, but that will only be for a short while."

Given such high expectations, the market may suffer a backlash if the PAP loses 1 or 2 GRCs. I am not so worried about PAP losing one or two GRCs and losing plenty of money when the market opens. I think this may even be a good thing as it may make PAP listen harder to the people. My primary worry is the PAP losing power. That is the black swan event (unexpected with extremely damaging consequences) which will immediately devastate investors' portfolio and risk the long-term prospects of Singapore.

I strive to be pro-Singapore, neither pro-PAP nor pro-Opposition. The reason why I think it will be a disaster for Singapore if PAP loses power is that the opposition is still not ready to form a viable government at this point in time. Using a business analogy, if a customer (Singaporean citizens) is trying to switch supplier because there is great dissatisfaction with the incumbent supplier(PAP), it does not switch immediately to the alternate supplier (Opposition). It has to give time to cultivate the alternative supplier to achieve a reasonable quality before making the switch. In the mean time, if the incumbent supplier regains its edge because of competition from the alternate supplier, the business prospers. The customer may even stick with the incumbent supplier if he makes good improvements.

No business(citizens) with proper supply chain management will depend on only on one supply source (PAP). It is too risky. What if the sole supplier fails? Besides, without competition, the sole supplier will grow complacent and decline. The worst part of it is that the cost of the decline will be solely borne by the customer. The sole supplier(PAP) will simply squeeze the customer(Singaporean citizens) by raising prices (raise GST, ERP, government fees etc). The customer can cry foul and bang his fists on the table but can you really sympathize with the customer? We should blame the customer (citizens) for not cultivating an alternative supplier (opposition) to compete against the sole supplier (PAP). Meanwhile, we cannot blame the sole supplier (PAP) to make an all-out effort to destroy his competition (opposition). Do you want to be a shareholder of a company that does nothing about competition or destroy the competition?

In the coming election, the opposition has been able to attract high-calibre candidates like Chen Show Mao. A credible "alternative supplier" has emerged. Do cultivate them as a check on the incumbent one. However, this is not a time to switch supplier completely because the the "alternative supplier" is simply not ready to take over. In my humble opinion, give the "alternative supplier" (opposition) some time to prove itself and another chance for the "incumbent supplier" to recover its footing, for the sake of the country.

An investment operation functions best when the investor thinks like a business owner. Similarly, a democracy functions best when each voter thinks like a stakeholder. Rational voters who think like stakeholders do not treat political elections like a beauty contest (PAP Tin Pei Ling against NSP Nicole Seah).

On one extreme, I have read vitriol comments on the internet like "I will vote out PAP even if a cockroach contests as an opposition candidate". On another extreme, there is a climate of fear "I will vote PAP because there will be consequences if PAP finds out." Both are irrational. A more desirable approach is to simply think like a stakeholder. Assume that you and your children are going to live in this country for a long time to come to face the consequences of the polling results.

If you think the PAP candidate will bring a better future to you and your children, give him your vote.
Likewise, if you think the opposition candidate can do a better job, vote for him.

Different people will reach different conclusions despite having the same objectives. This is fine as long as the decision process is taken rationally like a stakeholder.

It is in fact more important for the middle to lower income groups to think like stakeholders than the upper-income. The rich will be able to migrate to greener pastures when the country crumbles while the middle-income and below will be stuck here to face the consequences. In a globalized economy, it is ironic that the asset-rich actually has less stake in the country than the asset-poor.

I am a middle-class person(only 1 HDB, middle-class salary and always worried about job security) who will be stuck here to face the consequences. I will certainly think very carefully on this issue from today onwards till 7 May 2011.

So it's just Singapore which is "iPhone crazy". For the rest of the world, smartphone sales make up just 20% of mobile phone sales! Hard to imagine that in Singapore, 9 out of 10 people own a smartphone, and 50% out of the 9 owned an iPhone. Then again, when I step into the bus/MRT, seeing is believing!

I suspect I will remain in the 10% bracket who will never, ever switch to a smartphone.....

Apr 19, 2011
Hooked on smartphones
They make up 90% of all handsets sold in Singapore, compared to 20% globally
By Chua Hian Hou , Technology Correspondent

SINGAPOREANS' love affair with the smartphone has hit new heights.

These do-everything gadgets, which enable their users to check e-mail, consult road maps and play 3-D games on the move, now make up 90 per cent of all handsets sold here.

Just six months ago, the figure was 80 per cent, making tech-mad Singaporeans among the world's most ardent fans of these mobile computers, which pack in advanced computer processors, generous memory and touchscreen displays.

Globally, smartphones account for only 20 per cent of new-phone sales, far behind that for lower-end type cellphones, said research firm Gartner.

Smartphones are popular here because of the maturity of the Singapore consumer market, said regional account director for telecommunications Gerard Tan of research firm GfK.

'With Singapore being the most developed country in South-east Asia, its rate of smartphone adoption will tend to rise faster than in less-developed countries,' he said.

Among the dozens of smartphone models available, the grand-daddy of them all is the Apple iPhone, which, despite its hefty price tag, has trumped other brands in popularity for several years now.

A senior telco industry executive, speaking anonymously because of Apple's strict non-disclosure agreements with telcos, said the two iPhone models now available, the iPhone 3GS and iPhone 4, command a 40 per cent to 50 per cent market share among new smartphones.

Singaporeans love their iPhones so much that the island has come to be nicknamed 'iPhone nation' in regional telecommunications circles.

Smartphones using Google's Android software are also doing well, said Mr Tan.

He estimates that sales of Android smartphones, made by companies like Samsung, HTC and Motorola, have grown tenfold from a year ago and will continue to do well here.

'Major manufacturers have been launching a variety of new smartphone models on Android since early last year; the strong push from these major brands has inevitably helped to increase the take-up of Android smartphones in South-east Asia,' he said.

Despite the trend towards smartphones, however, lower-end, no-frills handsets are in no danger of extinction.

These phones, which the industry calls 'feature phones', do little more than make calls and send and receive text messages, but are beloved by many die-hard users despite their inability to run applications for games, maps and other capabilities.

At a briefing last week, M1's chief executive Karen Kooi said that 10 per cent of cellphone users 'will never, ever switch over to smartphones'.

Take administrative assistant Yvonne Lim, 42, for example. When she recontracted her cellphone account in January, she received a new smartphone for free. 'But I couldn't get used to it, especially the touchscreen and the need to keep charging the battery,' she said.

Smartphones, with their more powerful chips and power-hungry touchscreen displays, generally run down on juice in a day on a full charge. Feature phones, by contrast, can run as long as five days before they need to be recharged.

Ms Lim said: 'In the end, I went back to my old phone, which I was quite happy with anyway.'

The smartphone is now used by her delighted teenage nephew.

chuahh@sph.com.sg

From new cars to used cars, so how is the car population going to drop? Roads are already crowded enough as it is......

Apr 16, 2011
Second-hand car market in high gear
Tight COE supply sees used-car sales on track to hit 10-year high
By Christopher Tan, Senior Correspondent

POWERED by a meagre COE supply, used-car sales are continuing to rev up.

In the first quarter of this year, 15,441 cars changed hands, a figure that is more than twice the 6,900 new cars sold, going by figures from the Land Transport Authority.

At this rate, the number of used-car transactions this year is likely to hit a 10-year high, with some industry players predicting that the growth will continue over the next two years.

They say it is because Certificates Of Entitlement (COEs), for which buyers of new vehicles need to bid, are now in short supply - a situation that has driven up premiums and, consequently, the prices of new cars.

The number of COEs is expected to hit rock-bottom between this year and 2013, with an estimated 30,000 to 50,000 available for car buyers each year. This is a marked contrast from the years 2003 to 2008, when annual quotas averaged 100,000 or more.

Mr Y.W. Liew, for instance, has ditched the idea of buying a new car, going instead for a second-hand vehicle, which comes with an existing COE.

The 39-year-old lawyer, who got himself a pre-owned BMW for about $105,000 recently, said: 'It has to do with price and depreciation. The car is coming to six years old, and the annual depreciation is about $16,000, versus more than $20,000 for a new car.

'In terms of dollars and cents, it just doesn't make sense to buy new now.'

LTA figures indicate that Toyota, Honda and Nissan are the top second-hand picks, followed by BMW, Mitsubishi and Hyundai.

The swift pick-up in used-car sales has encouraged even new-car agents to start or ramp up their used-car business. The latest to do so is multi-franchise group Wearnes, which will set up a pre-owned centre next to its Renault showroom in Leng Kee Road.

Mr Andre Roy, the group managing director of Wearnes' automotive division, said the facility will deal even in brands it does not represent.

He said: 'We increasingly see German and Japanese cars being traded in, and an opportunity to retail these cars ourselves as the demand for pre-owned cars grows.'

Mr Karsono Kwee, executive chairman of the Eurokars Group, whose brands include Rolls-Royce and Porsche, said sales at its 18-month-old pre-owned car business are brisk.

'We're doing very well,' he said. 'We average 10 to 15 cars a month, mostly Porsches.'

But some players are treading carefully. Toyota agent Borneo Motors has been mulling over starting a used-car division for several months now, and has gone no further than merely dipping its toes into selling a few pre-owned Lexus cars.

'Officially, we've not started,' a senior Borneo Motors executive said.

Ironically, the flourishing used-car trade may hamper new-car sales in the near term, motor traders said.

This is because the demand for pre-owned cars will encourage motorists to sell their used vehicles on the local market instead of scrapping or re-exporting them. This, in turn, will lead to fewer COEs being released, since the supply of COEs is determined largely by the number of cars taken off the road.

Singapore Vehicle Traders Association secretary Raymond Tang said: 'I think only the very old cars, like those nearing 20 years, will be scrapped.'

christan@sph.com.sg

An interesting article by NYT. Quite sad to read it too - people in China getting more materialistic, while property out of reach for common folk (sounds familiar?) as property prices have risen 8x over the last 8 years!

Apr 16, 2011
people
No house? Forget about wooing Chinese women
Single men ending up as collateral damage in China's property boom

BEIJING: In the realm of eligible bachelors, 28-year-old Wang Lin has a lot to recommend him.

A college-educated insurance salesman, he has a flawless set of white teeth, a tolerable karaoke voice and a three-year-old Nissan with furry blue seat covers. 'My friends tell me I'm quite handsome,' he said confidently in English one recent evening.

But by the exacting standards of single Chinese women, it seems he lacks that bankable attribute known as property. Given that a cramped, two-bedroom apartment on the dusty fringe of Beijing sells for about US$150,000 (S$187,000), his US$900-a-month salary means he may forever be condemned to the ranks of tenants.

Last year, he said, this deficiency prompted a high-end dating agency to reject his application. In recent months, half a dozen women have turned down a second meeting after learning that he had no means to buy a home.

'Sometimes I wonder if I will ever find a wife,' said Mr Wang, who lives with his parents, both retired factory workers. 'I feel like a loser.'

There have been many undesirable repercussions of China's unrelenting real estate boom, which has driven prices up by 140 per cent nationwide since 2007, and by as much as 800 per cent in Beijing over the past eight years.

Working-class buyers have been frozen out of the market while about 65 million apartments nationwide bought as speculative investments sit empty.

Largely overlooked is the collateral damage to urban young professionals, especially men, who increasingly find themselves lovelorn and despairing as more women hold out for a mate with a deed.

Although there are few concrete ways to measure the scope of involuntary bachelorhood, more than 70 per cent of single women in a recent survey said they would tie the knot only with a prospective husband who owned a home.

Among the qualities they seek in a mate, half of them said that financial considerations ranked above all else.

Not surprisingly, 54 per cent of single men ranked beauty first, said the survey of 32,000 people which was jointly issued by the Chinese Research Association of Marriage and Family and the All-China Women's Federation.

Given China's gender imbalance, an outgrowth of a cultural preference for boys and its stringent family-planning policies, as many as 24 million men could be perpetual bachelors by 2020, according to the survey.

Many women are unapologetic about their priorities. Ms Gao Yanan, a 27-year-old accountant with a fondness for Ray-Bans and Zara pantsuits, said the matter was not up for debate.

'It's the guy's responsibility to tell a girl right away whether he owns an apartment,' she said. 'It gives her a chance not to fall in love.'

With such women on the prowl, men who do have their own homes have come up with techniques to weed out the covetous and the inordinately materialistic.

Mr Liu Binbin, 30, an editor at a publishing house in Beijing, said he often arrived for first dates by bus, even though he has a car. 'If they ask me questions like 'Do you live with your parents?' I know what they are after,' he said.

Mr Liu said he went on 20 unfulfilling blind dates before finding a suitable girlfriend last year. He said he knew she was the one after three months. 'The whole time she thought I didn't own an apartment and she still wanted me,' he said. 'Someone like that is rare.'

NEW YORK TIMES

Interesting way to spend money....

Tue, Apr 12, 2011
The New Paper
He can't drive, but rented supercars 35 times
By Rae Tan

18-year-old supercar enthusiast Adrian Goh doesn't have a driving licence, so he rented some gorgeous rides and hired a driver, just so he can experience the thrill of his life. -TNP

HE HAS rented two supercars - the Ferrari F430 Spider and the Lamborghini Gallardo Spyder - 35 times in three months.

And he has spent a few thousand dollars on his hobby.

But supercar enthusiast Adrian Goh doesn't have a driving licence.

So the 18-year-old didn't get to drive the cars he rented; he was just a passenger as someone else drove the cars.

The Institute of Technical Education graduate said: "Being able to ride in the supercars was really like a dream come true for me. I couldn't help but go back to ride in (the cars) repeatedly."

He is a regular customer of Ultimate Drive, a four-month-old company here that rents out two supercars.

Customers can either drive the car or choose to ride as passengers.

An employee will always be in the car to show the customer the route or drive the car for the customer.

Adrian said he's neither from a wealthy family nor does he have rich friends who own these luxury cars.

He said he spent only a "low four-figure sum" in total as he was an Ultimate Drive VIP Club member and got discounted prices for each ride.

He said the money came from "working at a small network company last year".

But he declined to disclose his monthly salary or how much he spent in all on his indulgence.

Now, he's also got his dream job.

He is working for Ultimate Drive as a customer service employee while waiting to be enlisted into National Service.

'It is beyond words'

He said: "I want to tell customers how awesome the feeling of being in a supercar is. It is beyond words. I want to share what I have experienced with our customers."

Mr Marc Griot, the company's managing director and founder, said: "Adrian came back time and again to try out the cars and, slowly, we began to know each other better.

"I am absolutely impressed with his passion for cars and I am more than willing to teach him things in our company."

According to Mr Griot, customers can choose from two packages - the Discovery Tour and the Sensation Tour.

Under the Discovery Tour, customers go around certain sections of the official F1 circuit at the Marina Bay for 15 minutes.

In the Sensation Tour, which lasts 30 minutes, customers take the same route in the Discovery Tour and a drive on the East Coast Parkway.

Prices range from $128 if they're passengers to $388 if they drive.

The tours start from either Marina Bay Sands or the Singapore Flyer.

Drivers need to be above 21 years of age and have at least two years of driving experience.

Mr Griot, who is French, has been a permanent resident here for four years and was involved in real estate development previously.

He started the business when he realised "Singaporeans' passion for cars, how well they take care of their cars and how cars are often a hot talking point here".

He said: "In Singapore, the glamour and the luxury is all here. Our customers often tell us that an Ultimate Drive is a great addition to what Singapore already has to offer.

"Some of them are like Adrian, who is extremely enthusiastic about cars. They come to us many times and spend so much with us till we remember them."

Women make up 30 per cent of his clientele.

He said: "Only a small number of them choose to be driven while most of them are tempted to drive.

"Usually, their concern is if the supercars would be difficult to drive. However, once they try it out, they realise these powerful cars are surprisingly easy to handle."

This article was first published in The New Paper.

Maybe one day True Fitness and California Fitness will seek listings too?

Apr 8, 2011
Fitness First 'seeking S'pore IPO'
By Jonathan Kwok

BRITISH fitness club operator Fitness First is planning to mount an initial public offering (IPO) in Singapore, with a listing set for the third quarter of this year.

It wants to raise $600 million to $700 million through the offering of its shares here, Dow Jones Newswires reported yesterday.

The IPO would be a coup for Singapore Exchange (SGX), in the increasingly competitive global market to attract large listings.

Dow Jones added that Fitness First is likely to apply for listing approval from the SGX this month, and that a team from the company was in Singapore to discuss the proposed deal.

Fitness First is owned by European private equity group BC Partners. BC Partners had bought the company from Cinven, another private equity firm, for £835 million (S$1.7 billion) in 2005.

In 2003, Cinven had taken the company private from London's lightly regulated AIM board for £404 million.

Fitness First started out in 1993 as a single health and fitness club in Bournemouth, Britain.

There are now more than 480 Fitness First clubs in 17 countries, reaching more than 1.4 million members, its website says.

Fitness First posted an operating loss of £98.4 million for the year ended Oct 31, 2009 - the latest figures available on its website - as it was hit by goodwill impairment charges against the European business segment.

But sales grew 9.9 per cent from the previous year to £670.3 million and pre-tax profits were up 7.5 per cent to £145 million.

Reports surfaced last year that BC Partners was seeking an Asian listing venue for Fitness First. The reasons include the chain's strong growth in Asia and the high interest from regional investors in leisure and consumer firms, The Straits Times understands.

In Singapore, Fitness First has 11 fitness clubs, including two that opened this year.

The centre at Mapletree Business City in Alexandra opened at the end of January; one at the CPF Building in Tampines opened at the start of this month.

Hong Kong, Asia's other main listing destination, has seven Fitness First outlets.

When contacted by The Straits Times yesterday, Fitness First declined to comment.

Overseas firms make up more than 40 per cent of those listed on the SGX.

This article is painfully amusing - attending a course on how to snag a rich man! It seems people will really pay for anything! Gosh.....

Apr 7, 2011
How to snag a prince without kissing too many frogs

BEIJING: It's a very small price to pay to land a big fish.

Many Chinese women these days think nothing of spending a chunk of their monthly salary on a new type of enrichment class: How to marry a rich Chinese man. After all, China has more billionaires today than any other country except the United States.

A consultancy firm in the upscale Jianwai Soho complex in Beijing is offering the special service. A standard 10-hour package costs 2,000 yuan (S$385), The Global Times reported yesterday.

At one such class, seven women listened intently as their instructor, relationship consultant Shao Tong, dispensed tips on the art of snagging a rich man. The framed picture of a book titled Marry The Right Person hung on a wall. Ms Shao was teaching her students how to read a man's face, the report said.

'When you see him the first time, you should pay attention to the left side of his face because it shows his real personality,' she said. 'The right side is what we call the 'social face',' she added. She then projected the face of a recently married millionaire's son on a screen, by way of example.

After her students unanimously agreed that he was handsome, Ms Shao asked them to study the left side of his face.

'Look carefully into his eyes,' she said. 'Then you can see he is insecure and unhappy. He wants love and sympathy.'

'Ohhhh...' her students nodded.

'Knowing what kind of person he is on the first date leads you to final victory,' Ms Shao told them, for good measure.

Most of the women enrolled in the classes are aged between 21 and 49. The company, De Yu Nu Xue Guan or School for Virtuous Ladies, takes a maximum of 15 per class. Besides the standard 10-hour package, it also conducts intensive one-on-one classes at 600 yuan for two hours, Chinese media reports said.

Ms Shao also told her students that while businessmen may be adept at sizing up business rivals or sniffing out a good deal, they may not be as sharp when it comes to their dates.

'They will observe the way you eat, the food you order and the way you talk to the waiter to judge if you are wife material,' she said.

'And no matter what happens during the dinner, stay calm,' she added.

Mr Ding Zhenyu, a consultant at the same company as Ms Shao, has this piece of advice: If a woman wants to marry a prince without having to kiss too many frogs, she must at least know what it is he is looking for in a wife.

The experts say that while beauty is not a prerequisite, looks are still important. Rich men tend to value family background. Some even hire fengshui masters to see if a woman has a lucky face.

The Global Times said that attitudes towards love and marriage are changing among young people in China, where more are delaying marriage due to financial considerations.

Seven in 10 women consider housing, a stable income and savings as the main prerequisites for marriage, a survey by the China Association of Marriage and Family Studies has found.

'Of course, a woman can make it by herself, but she can do so faster if she has a man,' said Ms Gong Haiyan, founder of Shiji Jiayuan, one of China's largest dating websites.

According to Forbes magazine's Billionaires List of 2011, China has 115 billionaires, up from 69 last year. The richest of them is technopreneur and Baidu founder Robin Li, estimated to be worth US$9.4 billion (S$11.8 billion).

But the 42-year-old is not available, matrimonially speaking. He is married with a daughter.

-------------------------------

Easy steps to land a big catch

1) Go to places the rich frequent: fancy bars, restaurants and private clubs;

2) Learn proper restaurant and dining etiquette, and study formal dress codes;

3) Befriend his parents or extended family;

4) Stay calm when presented with luxury gifts;

5) Don't try to win favour by using flattery, no matter how much you love his money.

Sources: Global Times, relationship consultant Shao Tong

Is it really good for Singapore to attract the ultra-rich? They are bumping up prices in this little red dot and making the average person feel more insecure.

Just my personal views.

Business Times - 07 Apr 2011

Asia's ultra-rich like S'pore as principal residence

Besides stable political, economic conditions, there's favourable taxation

By REPORTS BY TEH HOOI LING

(SINGAPORE) The availability of top quality education has made Singapore the second top location for the ultra-rich in Asia to buy second homes. This is particularly true among the Chinese and Indians, according to Citi Private Bank-Knight Frank Wealth Report 2011.

And when it comes to principal residence, Singapore is the first choice for Asia's ultra-high net worth individuals (UHNWIs), especially Indians. In addition to the stable political and economic conditions, Singapore offers favourable taxation policies to these wealthy individuals, said the report.

The pricing of luxury properties here is also much lower than in other markets such as Hong Kong, Tokyo, Paris, London and Monaco.

The report was based on an online survey at the beginning of 2011 by 160 Citi Private Bank wealth advisers representing almost 5,000 UHNWIs from 36 countries. The average worth exceeded US$100 million.

According to the Attitudes survey, education is one of the primary reasons for second-home purchases, especially among East Asian UHNWIs.

Said Rupert Hoogewerf, publisher of the Hurun Report which lists China's rich: 'A property for (university-going) children to live in is an obvious step to take and a very popular investment option. Anecdotal evidence indicates that the condition of property markets can be an influencing factor when universities are being assessed.'

Besides the UK and the US, other top choice locations for education are Canada, Australia, New Zealand, Hong Kong and Singapore.

Meanwhile, Singapore has retained its position as the fourth top global city for the super rich. It, however, risks falling to the sixth spot as Shanghai and Beijing are seen rising up the ranking in the next 10 years.

The report also showed that property remains very much a part of the rich's portfolio. Other than their own businesses, brick and mortar remain the second most trusted place for the world's ultra-rich to store their wealth. About 35 per cent of the portfolio of the world's UHNWIs are allocated to property.

And property is not about to lose its appeal any time soon, despite the severe correction in the West following the global financial crisis and the record prices in the East. Enthusiasm for this asset class has increased in the last five years.

In fact, of all the asset classes out there, the world's ultra-rich are most enthusiastic about property, more so than equities, government bonds, corporate bonds, commodities and gold.

Revealing the cultural bias of East Asians for property, the UHNWIs in this part of the world are as enthusiastic about property as they are about their own business. The rich from other regions rank their own business higher.

Of the various property sectors, direct ownership of residential property is the most favoured, with 28 per cent of those surveyed considering buying another second home outside their country of residence.

Broken down into the various regions, more of the rich from Africa, Russia and Commonwealth of Independent States, Middle East, Europe and East Asia are considering buying a second home outside their home countries.

Overall, the survey showed the continued shift of wealth to the East.

Stephen Wall, director of consultancy Scorpio Partnership, said that his firm's Wealth Distribution Model confirms that one big story is the money now sitting in the Asia-Pacific - US$11 trillion.

'While still third behind North America (US$13 trillion) and Europe (US$11 trillion), it is fast catching up. Bar a huge economic crisis, it will snatch second spot from Europe by the end of the year. North America - and the world lead - is in its sights,' he said.

How Could You?
Copyright © Jim Willis 2001, all rights reserved

[Image: holly.jpg]

When I was a puppy I entertained you with my antics and made you laugh. You called me your child and despite a number of chewed shoes and a couple of murdered throw pillows, I became your best friend. Whenever I was "bad," you'd shake your finger at me and ask "How could you?" - but then you'd relent and roll me over for a bellyrub.

My housetraining took a little longer than expected, because you were terribly busy, but we worked on that together. I remember those nights of nuzzling you in bed, listening to your confidences and secret dreams, and I believed that life could not be any more perfect. We went for long walks and runs in the park, car rides, stops for ice cream (I only got the cone because "ice cream is bad for dogs," you said), and I took long naps in the sun waiting for you to come home at the end of the day.

Gradually, you began spending more time at work and on your career, and more time searching for a human mate. I waited for you patiently, comforted you through heartbreaks and disappointments, never chided you about bad decisions, and romped with glee at your homecomings, and when you fell in love.

She, now your wife, is not a "dog person" - still I welcomed her into our home, tried to show her affection, and obeyed her. I was happy because you were happy. Then the human babies came along and I shared your excitement. I was fascinated by their pinkness, how they smelled, and I wanted to mother them, too. Only she and you worried that I might hurt them, and I spent most of my time banished to another room, or to a dog crate. Oh, how I wanted to love them, but I became a "prisoner of love."

As they began to grow, I became their friend. They clung to my fur and pulled themselves up on wobbly legs, poked fingers in my eyes, investigated my ears and gave me kisses on my nose. I loved everything about them, especially their touch - because your touch was now so infrequent - and I would have defended them with my life if need be.

I would sneak into their beds and listen to their worries and secret dreams. Together we waited for the sound of your car in the driveway. There had been a time, when others asked you if you had a dog, that you produced a photo of me from your wallet and told them stories about me. These past few years, you just answered "yes" and changed the subject. I had gone from being your dog to "just a dog," and you resented every expenditure on my behalf.

Now you have a new career opportunity in another city and you and they will be moving to an apartment that does not allow pets. You've made the right decision for your "family," but there was a time when I was your only family.

I was excited about the car ride until we arrived at the animal shelter. It smelled of dogs and cats, of fear, of hopelessness. You filled out the paperwork and said "I know you will find a good home for her." They shrugged and gave you a pained look. They understand the realities facing a middle-aged dog or cat, even one with "papers."

You had to pry your son's fingers loose from my collar as he screamed "No, Daddy! Please don't let them take my dog!" And I worried for him and what lessons you had just taught him about friendship and loyalty, about love and responsibility, and about respect for all life. You gave me a goodbye pat on the head, avoided my eyes, and politely refused to take my collar and leash with you. You had a deadline to meet and now I have one, too.

After you left, the two nice ladies said you probably knew about your upcoming move months ago and made no attempt to find me another good home. They shook their heads and asked "How could you?"

They are as attentive to us here in the shelter as their busy schedules allow. They feed us, of course, but I lost my appetite days ago. At first, whenever anyone passed my pen, I rushed to the front, hoping it was you - that you had changed your mind - that this was all a bad dream...or I hoped it would at least be someone who cared, anyone who might save me. When I realized I could not compete with the frolicking for attention of happy puppies, oblivious to their own fate, I retreated to a far corner and waited.

I heard her footsteps as she came for me at the end of the day and I padded along the aisle after her to a separate room. A blissfully quiet room. She placed me on the table, rubbed my ears and told me not to worry. My heart pounded in anticipation of what was to come, but there was also a sense of relief. The prisoner of love had run out of days. As is my nature, I was more concerned about her. The burden which she bears weighs heavily on her and I know that, the same way I knew your every mood.

She gently placed a tourniquet around my foreleg as a tear ran down her cheek. I licked her hand in the same way I used to comfort you so many years ago. She expertly slid the hypodermic needle into my vein. As I felt the sting and the cool liquid coursing through my body, I lay down sleepily, looked into her kind eyes and murmured "How could you?"

Perhaps because she understood my dogspeak, she said "I'm so sorry." She hugged me and hurriedly explained it was her job to make sure I went to a better place, where I wouldn't be ignored or abused or abandoned, or have to fend for myself - a place of love and light so very different from this earthly place. With my last bit of energy, I tried to convey to her with a thump of my tail that my "How could you?" was not meant for her. It was you, My Beloved Master, I was thinking of. I will think of you and wait for you forever.

May everyone in your life continue to show you so much loyalty.

[Image: star-xcloseup.jpg]

"How Could You?" Copyright © 2002 by Jim Willis
Cover, Pieces of My Heart, Copyright © 2002 by Doreen J. Sanfelici
Photo, HollyGolightly, courtesy of Jim Willis
Photograph, "How Could You?," Copyright © 2000 by Pat Crean, Flying Spots Photography
Website design Copyright © 2002 by Michelle Crean & The Tiergarten Sanctuary Trust
All Rights Reserved.
For all reprint or foreign-language rights, please contact tiergartenmedialtd@gmail.com.

Warren Buffett's heir-apparent steps down
08:05 AM Mar 31, 2011

NEW YORK - One of Warren Buffett's favoured lieutenants - seen as his leading heir apparent - resigned after buying shares in a company he later recommended that Mr Buffett acquire.

Mr David Sokol's resignation from his roles as chairman of Berkshire Hathaway units MidAmerican Energy and NetJets raised questions about the transparency of his dealings with Mr Buffett - namely whether he concealed the size of share purchases in Lubrizol.

The resignation could be a reputational blow for Mr Buffett, the 80-year-old "Oracle of Omaha", who recently sealed a US$9-billion (S$11.4-billion) deal for Lubrizol at Mr Sokol's urging.

"Obviously Warren Buffett prides himself on transparency and this would not appear to be transparent," said Berkshire shareholder Michael Yoshikami. "It just seems so unnecessary."

Mr Buffett said yesterday that Mr Sokol bought shares of Lubrizol last December, sold them, then bought more shares in early January. He subsequently presented Mr Buffett with the idea of buying the company.

The 96,060 shares Mr Sokol bought from Jan 5 to 7 would have generated a profit for him of at least US$2.98 million based on Lubrizol's share price over those three days and the price at which Mr Buffett agreed to buy the company.

It is unclear why news of Mr Sokol's trading is surfacing now. The US Securities and Exchange Commission and the Department of Justice have declined to comment on the issue.

Mr Buffett said he was originally not in favour of the idea of buying Lubrizol but warmed to it after Mr Sokol told him of a conversation with Lubrizol's chief executive. Berkshire announced its purchase of Lubrizol for US$135 per share, a 28-per-cent premium, on March 14.

Legal experts were divided on whether Sokol could be held liable in court for his actions.

"He could be. At a minimum he showed extremely bad judgment in not disclosing to Mr Buffett that he had taken a fairly significant position in the company a week before he pitched the benefits of the company to Mr Buffett," said law firm partner C Evan Stewart.

But others said there was the possibility the sequence of events could be explained away.

Said lawyer Stuart Slotnick: "Buffett's job is to purchase stock and companies. If Sokol goes to Buffett and says, 'I love this stock, I bought some for myself, you should look at it,' there's nothing inappropriate in Buffett doing his own analysis and making a purchase, as long as no trading decisions are made on the basis of material, nonpublic information." REUTERS