Some are more equal?

When you are rich, your lawyers and doctors certainly act fast.

Without doubt, all the arrangements must have already been made to harvest (for lack of a better word indeed!) the organs of a doomed man.

So, did the rich manage to jump ahead of all others in the long queue for organs, or was he judged the best suited in terms of age, and compatibility?

Given a theoretically longer life expectancy, a younger person is supposed to benefit more from such a transplant and should be given priority.

From Todayonline, "According to past reports, Mr Tang — who had undergone a triple-bypass operation in October 2007 — was not eligible for a cadaveric kidney because of his many ailments, such as heart problems, asthma, sleep apnoea, depression, anxiety and panic attacks."

With a plethora of health problems, one might wonder whether this new organ is going to benefit much. It may buy him a better quality of life, but let's hope that some more deserving person out there had not been "robbed" of a new lease of life.

Foreign Exchange trading risks

"SEMBCORP MARINE (SCMN.SI) - Sembcorp Marine said on Wednesday it had agreed with BNP Paribas to settle a $50.7 million dispute stemming from botched foreign currency trades at its Singapore unit last year. Sembcorp said in a statement it would take a charge of about $30 million in the fourth quarter following the settlement. "


How many times have we read about huge foreign exchange trade losses incurred by companies who need to hedge against foreign exchange fluctuations, given that many receive revenues denominated in USD against costs which are often in SGD?

So, when even these big boys incur huge losses, with all the so-called expertise and resources at their disposal, what makes us, the small retail investors, think that we can do better than them and reap huge financial rewards and gain financial freedom, as claimed by so many advertisements by self-professed gurus (some with dubious doctorates bought from unaccredited universities)?

If it's so easy, why don't these gurus offer their expertise and simple winning formulas to the big companies and earn big time, and at the same time benefit our stock markets, so that for once, we read about huge foreign exchange gains instead of losses?

My advice therefore to all my friend and clients is to stay away from foreign exchange trading.

AIG sells private bank

The asset sale continues relentlessly even as AIG's government loans ballooned from the initial US$85 billion to US150 billion. Its assets were estimated at US$1 trillion before the credit crises and financial meltdowns and scandals hit the global financial markets, crippling and sending many once-venerated institutions to near collapse and bankruptcy. Its liabilities were estimated at US$1.4 trillion (i.e., approx $400 billion more than its assets), hence its near bankruptcy, as it faced difficulties to raise funds in the midst of the credit crunch.

Farrer Park Mediplex to open in 2010

Medical tourism certainly has a huge growth potential here, even as the U.S. and President-elect Obama begins to grapple with high healthcare costs and double-digit increase in health insurance premiums. I am still holding on to my Parkway shares, so I hope that this bodes well for its share price in the uncertain times ahead.

AIG asset sale

It is difficult to fetch a good price in a fire sale, especially in this difficult economic climate, where the seller needs and wants cash, whilst the potential buyers prefer to conserve cash to weather the credit crises. Getting financing to buy will also cost more money. Companies all over the world now increasingly look to their respective governments as their godfathers to give some forms of guarantees before they take on additional ventures/risks. But he who dares wins.

So, it is good news for AIG that the US Treasury is giving it more time (5 years instead of just 2 years) to repay the loan which has now ballooned to US$150 billion (the single largest loan ever made by the US Government to a private company) from the original US$85 billion. I recall that AIG was asking for only US$40 billion when news first broke that it was heading into bankruptcy.

Where and when can we see light signalling the end of the tunnel and not the headlights of an oncoming train?

Fewer, Less or Lesser

A short lesson on grammar.

I am often amused by how often people in this region tend to mix up their comparative, in respect of "fewer, less and lesser".

Firstly,
few, fewer, fewest : are used with countable nouns, e.g. people, coins
little, less, least: are used with uncountable or abstract nouns, e.g., money, water, love, honesty

This morning, I just heard a lady speaker who speaks very fluent English say, "... less people ...". I was taught from young to say "fewer people", but it seems that in modern standard English practice, the usage of less here is increasing, rightly or wrongly.

However, what is clearly incorrect is to use lesser to mean fewer or less. It seems many do not know the difference between fewer/less and lesser,
e.g., they say. "I have lesser money", when they should say, "I have less money".
Or, "There are lesser people here" when it should be "there are fewer people here".

Lesser in fact means, "smaller, as in size or importance; inferior, e.g., a lesser evil.
Many years ago, I watched the film, "Children of the Lesser Gods" as a child. Lesser Gods clearly does not refer to fewer gods, but to gods who are inferior (to a higher or more superior god).

AIA Singapore Retrenches

It is a matter of time that AIA Singapore starts trimming off excess fats in an effort to cut costs and increase profits to pay its parent company AIG. More importantly, it has to show good numbers in order to attract "strategic" investors to take up so-called minority stakes in AIA Singapore.

I foresee that there will be more such cost-cutting measures, if there is continued loss of confidence in the company leading to a vicious circle of of reduced new businesses, reduced agency strength due to the inevitable migration of agents. And if the business forecast spells more gloom, the faster the sale to strategic investors, the better, or else, the price AIA Singapore can fetch will fall further.

It will get worse before it can get better, which takes time, and time is not on the side of AIG which has to pay back the US$143 billion (up from the original US$85 billion) it now owed the US Government.

"AIG plans to sell of most of its divisions to pay back the debt. Asset sales should be announced by year's end, Chief Executive Edward Liddy told CNNMoney.com last week".