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(08-12-2012, 11:08 AM)brattzz Wrote: so...what happened to the millions of $ of profits every year?! :O
Aiya, must you ask? To all the SINK apore's "ELITES" lah!
Meritocracy, my friend, 100 % meritocracy. 
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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Nobody like a bus fare hike, including myself. But if we compare with other bus operators in the region, we have enjoyed low bus fare all along, probably at the expense of driver salaries.
SMRT and SBST's average fare per boarding are approx S$0.70, the lowest among other operators in the region, which includes Sydney, Toei-Tokyo and KMB-HK.
I look into another metric, Farebox ratio = Total Fare / Total Operating Cost
SMRT and SBST both score with a ratio of approx 1. It means the fare is just enough to cover the operating cost. Other operators score far less than 1, except KMB-HK.
Without referring to too much detail, the point is the current fare is just enough to cover the cost. If operating cost increases along with driver salaries, it should either come from government or commuters.
The current profit from SMRT and SBST is mainly from rail operation, rather than bus operation.
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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this is a case og elites at the mgt level enjoying fat pays while those at the bottom drivers are squeezed...and now the minister trying to tai chi the disease to the commuters to bear the cost. someone just got pick it n move on.
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(08-12-2012, 10:29 PM)pianist Wrote: this is a case og elites at the mgt level enjoying fat pays while those at the bottom drivers are squeezed...and now the minister trying to tai chi the disease to the commuters to bear the cost. someone just got pick it n move on.
Totally agreed on this summary!
MOT/LTA/SMRT... too much! :O
1) Try NOT to LOSE money!
2) Do NOT SELL in BEAR, BUY-BUY-BUY! invest in managements/companies that does the same!
3) CASH in hand is KING in BEAR!
4) In BULL, SELL-SELL-SELL!
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(09-12-2012, 10:39 AM)brattzz Wrote: (08-12-2012, 10:29 PM)pianist Wrote: this is a case og elites at the mgt level enjoying fat pays while those at the bottom drivers are squeezed...and now the minister trying to tai chi the disease to the commuters to bear the cost. someone just got pick it n move on.
Totally agreed on this summary!
MOT/LTA/SMRT... too much! :O
In SINKapore, every services even very basic and very necessary like "Public Transport" must make money one. Then who are the main shareholders? So if "PUBLIC Transport" also must take money from the citizens don't hope for anything much more from PAPYs.
Ah..... then once in a blue moon PAPYs will pacify the citizens with "rebates of one kind or another" Right now PAPYS are talking about GST rebates.
WHY?
Out of guilt after taking too much from the people ? Or out of looking after the people's interest? Or out of hope that some people will be psycho that PAPYs are benevolent GOV. HA! HA! You better think thrice.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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Now news in China are attacking Singapore on the SMRT and the crane incidents. Are they going to play out the anti Singapore campaign like what they are doing to the Japanese ?
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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Base on the response from WP and general public on bus fare hike, probably the only way out is subsidized by tax payer money.
http://www.todayonline.com/Hotnews/EDC12...kers-Party
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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Ability to make money has to be one of a key benchmark of CEO capability so becareful on what we ask for if this is no longer a measure. I can imagine a situation the CEO will expand his organization so large or pay them so high, and bill public at cost and he still gets an "A".
Of course with simplicity of singular goal can result in previous management mistake. I do not feel is wrong in paying high for CEO. If fact the previous mgmt mistake says more on the importance of CEO can significantly affects company operation.
What i am more concern with is whether we are capable of selecting the right people to be hired as CEO. Maybe is a fluke exception in last case else Singapore Inc will be in trouble.
Cory
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world bus driver salary seems like we are one of the most stingy in the world, low pay lousy conditions go figure why anybdoy wants to become bus driver here.
germany 2,340 euros - S$3687
australia A$3,851 - S$4927 <--- wow nearly 5k
norway 22,655 kronos - S$4786 <--- norway is also a small country pop 5mil
singapore 1,239 dollars <----- thats us.
http://www.worldsalaries.org/busdriver.shtml
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SBS transit 3rd quarter result,
9mth results
Staff cost - $251 million
Operating profit - $20 million
So, at the most, SBS transit can only offer 5-10% salary increase for bus driver while maintaining same bus fares.
If we want our bus drivers to have higher pay, we need to accept higher bus fare.
Anyway, if we look at current bus operation results, SBS transit is making a loss. If we combine both advertisement and bus together, they only make S$8 million.
So for our bus drivers to have a decent salary, we probably will need a 20% increase in bus fares.
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