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Luostock
    17-Aug-2011 10:37  
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After adjustment of Ministers' pay, next must look into CEOs' pay which is too many times of the median wage. Too far a gap is not good for the society. Can some HR experts throw some light on this as I know some will say that the CEOs will run to other countries ? Lastly need to check how some listed companies spend the company money on the many perts (like enjoying holidays, hotels,  etc).
 
 
pharoah88
    17-Aug-2011 10:01  
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‘Govt will respect voters’ choice’

PM Lee urges Singaporeans to consider carefully the qualities of each candidate

Loh Chee Kon g

news editor | cheekong@mediacorp.com.sg

SINGAPORE


sInce  there  Is  cOUncIl of PresIdentIal  AdvIsOrs

dO  we  stIll  nEEd  thE  prEsIdEnt  ? ? ? ?— The well-publicised run-ins between former Deputy Prime Minister Ong Teng Cheong and the Government, during his tenure as Elected President, shows that having previous links to the ruling People’s Action Party does not prevent a presidential candidate from subsequently executing his role independently.

 
 
pharoah88
    17-Aug-2011 09:47  
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By Channel NewsAsia, Updated: 17/08/2011

PE: It’s Nomination Day for Singapore’s Presidential Election

PE: It’s Nomination Day for Singapore’s Presidential Election

The four candidates given Certificates of Eligibility to contest the 2011 Presidential Election

SINGAPORE: It’s Nomination Day on Wednesday for Singapore’s Presidential Election which is set for August 27.

Four candidates who received their Certificates of Eligibility last week from the Presidential Elections Committee are set to turn up at the Nomination Centre at the People’s Association headquarters when the doors open at 10am.

They are Mr Tan Kin Lian, Dr Tony Tan, Dr Tan Cheng Bock and Mr Tan Jee Say.

It’s the second Nomination Day Singaporeans are witnessing within a span of five months, but this time it’s for the country’s Presidential Election.

And if there’s a contest at the close of nominations at 12.30pm, nearly 2.27 million voters will get to cast their votes islandwide on August 27.

In assessing the suitability of each candidate, the Presidential Elections Committee said all are men of integrity, good character and reputation.

[3 bIg  wOrds  whIch  mEAn  the SAME  THING  ? ? ? ?]

That’s one of the criteria for eligibility.

Other criteria include having served at least three years as a Chairman or CEO of a statutory board or company with a paid—up capital of at least S$100 million, or having served in a similar capacity, under a special clause.

Candidates have one hour from 11am to 12 noon to file their nomination papers.

Half an hour is then set aside for candidates to scrutinise one another’s application forms and if they have any objections, that’s the time they can raise them in writing to the Returning Officer.

And once an election is declared by the Returning Officer, the candidates are expected to go into full swing into their nine—day campaign period.

Each candidate will be allowed to hold one outdoor rally at designated sites approved by the Police and that includes a lunch—time rally site in the heart of the business and financial district.

— CNA/de

 

 
hlfoo2010
    17-Aug-2011 09:43  
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pharoah88
    17-Aug-2011 09:41  
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By Channel NewsAsia, Updated: 16/08/2011

PE: PM Lee on what Presidential Election is about

PE: PM Lee on what Presidential Election is about

PM Lee Hsien Loong

SINGAPORE: Prime Minister Lee Hsien Loong has said that getting a Certificate of Eligibility to contest the Presidential Election does not necessarily mean that candidates are all " equally qualified to be President" .

Speaking on the eve of Nomination Day, Mr Lee also stressed that it is important for Singapore to have a good President, and for the President to work closely with the government.

He added that his government will work with the man chosen by voters, whoever he is. Four hopefuls have been issued the Certificate of Eligibility. They are Dr Tony Tan, Dr Tan Cheng Bock, Mr Tan Kin Lian and Mr Tan Jee Say.

Meeting the local media at the Istana on Tuesday, Mr Lee said he felt the need to speak on the issue not because of what any of the presidential hopefuls has said, but because he felt Singaporeans need to know his views and he wanted to give them something to think about when they go to the polls.

Mr Lee reiterated the role and responsibility of the President under the Constitution.

The President has blocking powers in only five areas, such as over the country’s reserves and key appointments.

In all other areas, the President must act in accordance with the advice of the Prime Minister and Cabinet.

Mr Lee also took the opportunity to talk about how his government has worked with President S R Nathan.

He cited the example of how the government had drawn on the reserves during the 2008 global financial crisis.

The proposal was put to the President and the Council of Presidential Advisers who spent days thinking over the matter.

Mr Lee said: " They asked questions, they spent several days thinking the matter over, asked and finally, only after satisfying themselves that this was in Singapore’s best interest and the situation was serious enough to need the draw (on the reserves), that they approved the draw.

" The result was we were able to stabilise the economy, to boost confidence and to recover strongly when the storm passed, but also importantly, we were able to demonstrate how the presidential safeguards were meant to work and could work in a tight situation."

On the relationship between the President and the Prime Minister, Mr Lee said he made it a point to meet Mr Nathan for monthly lunch meetings.

The President, he said, will give his views freely but privately to the Prime Minister.

" We consider very carefully the President’s views although under the system, the final decision is made by the Cabinet," said Mr Lee.

Mr Lee said it is important for both the government and President to have a mutual understanding and constructive relationship and this is how he hopes to work with the next President.

He added that given the troubled global economic landscape, it is important that Singaporeans choose a capable President who can make well—judged decisions in the country’s best interests.

The President also plays an important ceremonial role.

Mr Lee reminded Singaporeans that the President is a unifying figure and he also represents Singapore on the international stage.

For example, Mr Lee said President Nathan’s grasp of international relations helped greatly to enhance Singapore’s friendly relations with many countries.

Asked if a candidate’s association with the ruling People’s Action Party could work against him, Mr Lee said " no" .

" When he becomes President, then he is in a different role, he’s no longer a PAP member and he no longer takes instructions from the party. He’s his own man, as Mr Ong Teng Cheong showed when he became President, and I think that is the way it has to work," said Mr Lee.

" Singapore is a very small society, and if you say you want people to come from completely different corners of the world and never had had any connection with one another, and then that counts as being independent, I think that is not possible," added Mr Lee.

Of the four presidential hopefuls, three have links to the PAP. Dr Tony Tan had served as deputy prime minister and Dr Tan Cheng Bock was a former MP, while former NTUC Income chief Tan Kin Lian was a former PAP member.

While Mr Lee did not want to be drawn into commenting what he thinks of the aspirants, he did repeat his endorsement of Dr Tony Tan.

" I think Dr Tony Tan is eminently qualified and a very good candidate. But I leave it to Singapore voters to make their judgement and I have every confidence they will make a good judgement," he said.

If there is a contest on Nomination Day, Singaporeans will go to the polls on August 27 in the country’s first Presidential Election in 18 years.

— CNA/ir


O V E R H E A R D :

DR  TONY  TAN  is  tOO  Old

sIngApOrEAns  wAnt  a  yOUng  mAn 

 
 
pharoah88
    17-Aug-2011 09:31  
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Updated: 16/08/2011

Decomposed body found near the Istana’s back gate

 

Yet another dead body was found this morning, bringing the tally of such cases in recent months to nearly ten. 

The decomposed body was found by the roadside along Cavenagh Road, near the back gates of the Istana after passersby noticed a foul stench in the area. 

Police say, they were notified of this latest case at around 8am today. 

The authorities are currently in the process of establishing the identity of the dead person. 

MediaCorp understands that the race and gender is still unknown because of the state it was in. 

Police have classified the case as an unnatural death. 

 

 
pharoah88
    17-Aug-2011 09:28  
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By Channel NewsAsia, Updated: 16/08/2011

Shanmugam clarifies " curry case"

 
 
pharoah88
    16-Aug-2011 12:45  
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pharoah88
    16-Aug-2011 12:38  
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pharoah88
    16-Aug-2011 12:28  
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http://singaporemind.blogspot.com/2011/05/pm-lee-nothings-sacrosanct-in.html

Monday, May 23, 2011

PM Lee : Nothing's sacrosanct in Government review of policies....

I remember in 2002 sensing that there was desire for change  on the ground,  PM appointed Vivian Balakrishnan to head the Remaking  Singapore Committee  [Link]. It was committee was split up into 5 sub committees called  Beyond Careers, Beyond Condo, Beyond Club, Beyond Credit Card and Beyond Cars  were also formed to review specific areas. Minister Vivian as chair of the committee quickly proclaimed that there would be no sacred cows (except meritocracy & racial issues). If you go through the recommendations, it talks about a more consultative govt, better transport system, more help for low income families, etc. Most of the 70 recommendations were accepted by the govt in 2004. In 2006, the PAP won by a landslide with 66.6% of the votes. Although support fell by 6% from the previous election in 2001, it was seen as okay because it was viewed that the high support in 2001 was due to the 911 terrorist attacks which boosted the PAP's election results.

Yesterday, the PAP govt announced a committee to review ministerial pay chaired by Gerald Ee (yes, him again...called again to do National Service). The high pay of ministers, has always been an issue with people like myself and perhaps most of the people who read my blog. I spoke about those million dollar salaries in 2005 when this blog was started. In 2001 & 2006, when PAP won by a landslide, ministers' pay was also abnormally high. I think when Goh Chok Tong was PM, there was a severe recession in 1998 and a reporter asked him whether he would revise ministers' pay given workers are suffering from painful job losses. Goh Chok Tong arrogantly replied that if there was any revision it would be upwards! It infuriated some people, but he still got his landslide  victory in the next election. I'll explain why this is so later in the posting...

The environment has changed so much the PAP  of today cannot be the PAP of yesterday. It cannot do the same things in the same way. Doing the same things in a different way might or might not be sufficient to maintain the support of the people. It has to risk doing something different to try to regain support. The PM has done of the complete reverse of what he did shortly after the last election - he is going to implement a pay cut for ministers and today he announced it will be backdated to 21 May 2011 after the panel headed by Gerald Ee makes its recommendations.
While cutting ministers' pay is not in itself going to solve any of  the problems faced by ordinary Singaporeans, it is a very important move because it signals a desire to change the value system in govt. Singapore has the biggest income gap in the developed world with only the US having something that  is close to   our income gap. None of the developed Asian countries, S. Korea, Taiwan and Japan have anything close our income gap. Over the years we imported a lot of the American style of management - hire and fire, high executive compensation, war for talent. Singapore became Singapore Inc and our ministers linked their income with the top earners  in the private sector. As the income gap rose, instead of  examining what has gone on wrong in the private sector compensation system, our ministers' pay  rode the widening income gap upwards.....in some ways participating in a culture of greed that has crept into corporate culture in the past  few decades. 
Warren Buffett has spoken extensively on this topic and sees no economic reason  for top earners in a corporation to have their pay increased from 20 times the lowest paid worker in the company to 500 times  and in some places 5000 times.

" 'Too often, executive compensation in the U.S. is ridiculously out of line with performance.'
- Warren Buffett.[Link]

Similarly, as the pay of workers at the bottom 20% of our workforce fell, our ministers'  salaries were  linked to top earners rose over the years. For many this was the act of a govt that has lost its way because it failed to see that the compensation system in corporations and the Singapore govt was starting to run counter to the value system of our society. It is not acceptable to most ordinary Singaporeans that a person working a full time job cannot make enough to start a family and lead a full life. Redistributing wealth  to achieve a more  just and equitable system became more important than  the all out pursuit GDP growth. The reason for widespread resentment over high ministers' pay was the desire of ordinary Singaporeans to see leaders with the same values as themselves and not leaders who partake in what they saw as wrong in the system we are in. Over time, more and more people could see what was wrong. 
 

 
pharoah88
    16-Aug-2011 11:57  
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Sunshine Empire trio appeals against sentence

Teo Xuanwei

xuanwei@mediacorp.com.sg

SINGAPORE

This led defence lawyer Subhas Anandan to ask at the appeal hearing yesterday:

“Is this the behaviour of people with dishonest intentions?”— Before they were convicted of running Singapore’s largest Ponzi scam, the people behind Sunshine Empire had gone to the Consumers Association of Singapore and the Commercial Affairs Department to clarify what was wrong with their business.

 
 
pharoah88
    16-Aug-2011 11:54  
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Youths raise education, engagement issues at forum

Carolyn Quek

carolynquek@mediacorp.com.sg

SINGAPORE

Organised by the People’s Association Youth Movement, last night’s two-hour-long session saw more than 150 working youths and students breaking up into small groups to exchange and discuss their views about Mr Lee’s speech.

While the Government will add 2,000 more university places for Singapore students over the next four years, youths felt that the quality of education should not be overlooked.

In one group that was moderated by Tanjong Pagar GRC Member of Parliament Chia Shi-Lu, some youths brought up the perception that the Government was not listening to feedback from Singaporeans.

One participant, Mr Syed Faisal Syed Ismail, a 29-year-old teacher who volunteers with Malay voluntary welfare organisation 4PM, said that some of the lower-income families he works with have the perception that the Government does not care about them.— The quality of education and engagement were some issues highlighted by youths at a forum to gather feedback on Prime Minister Lee Hsien Loong’s National Day Rally speech.

 
 
pharoah88
    16-Aug-2011 11:48  
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O V E R H E A R D :

UNIONS  & CLANS 

shOUld  stAy  OUT  Of

Presidential  Election 

pharoah88      ( Date: 16-Aug-2011 11:15) Posted:

Voters’ perception matters on Aug 27

Letter from Ng Ya Ken

IN A General Election, citizens and the elected Government sign a conceptual social contract: Citizens give the new Government the power to govern and in return the Government is obliged to rule the nation as specified in the Constitution.


O V ER H E A R D :

  • Nothing's sacrosanct in Government review of policies, says PM ...

    singaporetrends.com/.../nothings-sacrosanct-in-government-review-... - Cached
    23 May 2011 – Three days later, Prime Minister Lee Hsien Loong declared that “nothing should be sacrosanct” as he revealed that the formula for ...
  • 6-year single term: Nothing sacrosanct about 4-year tenure ...

    www.ibomvillagesquare.com/.../6-year-single-term-nothing-sacrosa... - Cached
    6-year single term: Nothing sacrosanct about 4-year tenure – Anenih. Post reply. No replies. Tue, 02/08/2011 - 9:36am ...
  •  


     
     
    pharoah88
        16-Aug-2011 11:20  
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    TWO  rIch  thIngs  mUst  chAnge




    'Too often, executive compensation in the U.S. is ridiculously out of line with performance.'
    - Warren Buffett.[Link]

    Stop coddling the super-rich

    America’s wealthiest are earning more but paying less tax — and that has to change

    The New York Times

    Warren Buffett is the chairman and chief executive of Berkshire Hathaway.

    Warren Buffett

     
     
    pharoah88
        16-Aug-2011 11:15  
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    Voters’ perception matters on Aug 27

    Letter from Ng Ya Ken

    IN A General Election, citizens and the elected Government sign a conceptual social contract: Citizens give the new Government the power to govern and in return the Government is obliged to rule the nation as specified in the Constitution.


    O V ER H E A R D :

  • Nothing's sacrosanct in Government review of policies, says PM ...

    singaporetrends.com/.../nothings-sacrosanct-in-government-review-... - Cached
    23 May 2011 – Three days later, Prime Minister Lee Hsien Loong declared that “nothing should be sacrosanct” as he revealed that the formula for ...
  • 6-year single term: Nothing sacrosanct about 4-year tenure ...

    www.ibomvillagesquare.com/.../6-year-single-term-nothing-sacrosa... - Cached
    6-year single term: Nothing sacrosanct about 4-year tenure – Anenih. Post reply. No replies. Tue, 02/08/2011 - 9:36am ...
  •  

     

     
    pharoah88
        16-Aug-2011 11:09  
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    Stop coddling the super-rich

    America’s wealthiest are earning more but paying less tax — and that has to change

    The New York Times

    Warren Buffett is the chairman and chief executive of Berkshire Hathaway.

    Warren Buffett

    Highest 400 had soared to US$90.9 billion — a staggering US$227.4 million on average — but the rate paid had fallen to 21.5 per cent.

    The taxes I refer to here include only federal income tax but you can be sure that any payroll tax for the 400 was inconsequential compared to income. In fact, 88 of the 400 in 2008 reported no wages at all, though every one of them reported capital gains. Some of my brethren may shun work but they all like to invest. (I can relate to that.)

    I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most would not mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.

    Twelve members of Congress [The Last Supper ? ? ? ?]  will soon take on the crucial job of rearranging our country’s finances. They have been instructed to devise a plan that reduces the 10-year deficit by at least US$1.5 trillion. It is vital, however, that they achieve far more than that.

    Americans are rapidly losing faith in the ability of Congress to deal with our country’s fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness. That feeling can create its own reality.

    Job one for the 12 is to pare down some future promises that even a rich America cannot fulfil. Big money must be saved here. The 12 should then turn to the issue of revenues.

    I would leave rates for 99.7 per cent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax.

    This cut helps the poor and the middle class, who need every break they can get.

    But for those making more than US$1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of US$1 million, including, of course, dividends and capital gains. And for those who make US$10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.

    My friends and I have been coddled long enough by a billionaire-friendly Congress. It is time for our government to get serious about shared sacrifice.

    But when they did the asking, they spared me. I checked with my megarich friends to learn what pain they were expecting. They, too, were left untouched.Our leaders have asked for “shared sacrifice”.

     
     
    pharoah88
        16-Aug-2011 10:59  
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    What is the % rAte of  sUccess for beign eXceptional  ? ? ? ?

    Why are the CREAM TALENT & LEADERS not  role modelling as The eXceptional  ? ? ? ?

    Rather it is the nOn-talent  & non-Leaders being the rOle mOdels ? ? ? ?

    pharoah88      ( Date: 16-Aug-2011 10:50) Posted:



    What is being ‘exceptional’?

    Mabel Wong

    There was the start-up meant as an example of the good things that can happen with a more international student body, and an amusing pop culture reference to the movie

    By the time PM Lee got to MICA’s Singapore Memory Project, I was near smitten by this version of Singapore.

    But the heartwarming pictures and anecdotes belied something else. In asking what “new Singapore” we might become, PM Lee was setting the question against the backdrop of the recent watershed General Election and the current global economic and political turmoil.

    He suggested as much when he next asked: “Will we respond to the pressures of the day and become like so many other countries, shortsighted and reactive?”

    In the light of the revolts, riots and revolutions going on in Europe, the Middle East [where 80% of population is fOreIgners ?] and, to a lesser extent, the United States, PM Lee’s speech was laden with anxieties.Transformers 3 and the part-Singaporean team behind the animation.


     
     
    pharoah88
        16-Aug-2011 10:56  
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    where does the subsidy come from ? ? ? ?

    GP Group discounts ? ? ? ?

    real payment of cost subsidy  ? ? ? ?

    First of all, how did GP fees  mOre than DOUBLED  [Over prIcIng ? ? ? ?] within a short number of months ? ? ? ?

    many GPs now hire lOw cOst  dOctOrs 

    frOm Malaysia, Philippines, India  whose degrees were previously nOt  recOgnIsed  ? ? ? ?

    Luostock      ( Date: 16-Aug-2011 10:34) Posted:

    The scheme that allows elderly and disabled patients to see their general practitioners and pay subsidised polyclinic rates will be extended from 65 yrs old to 40 yrs old is too generous. 40 yrs is not considered elderly. It is OK to subsidise for disabled but not 40 yrs old. Since CPF cut comes in at 50, the subsidy could start at 50yrs. If want to be more generous, may be start at 45 yrs (retrenchment age). Tax payers may start to worry about this as this would  NOT  be the last as there are more to come and slowly we will sink like the european countries.

     
     
    pharoah88
        16-Aug-2011 10:50  
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    What is being ‘exceptional’?

    Mabel Wong

    There was the start-up meant as an example of the good things that can happen with a more international student body, and an amusing pop culture reference to the movie

    By the time PM Lee got to MICA’s Singapore Memory Project, I was near smitten by this version of Singapore.

    But the heartwarming pictures and anecdotes belied something else. In asking what “new Singapore” we might become, PM Lee was setting the question against the backdrop of the recent watershed General Election and the current global economic and political turmoil.

    He suggested as much when he next asked: “Will we respond to the pressures of the day and become like so many other countries, shortsighted and reactive?”

    In the light of the revolts, riots and revolutions going on in Europe, the Middle East [where 80% of population is fOreIgners ?] and, to a lesser extent, the United States, PM Lee’s speech was laden with anxieties.Transformers 3 and the part-Singaporean team behind the animation.

     
     
    Luostock
        16-Aug-2011 10:34  
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    The scheme that allows elderly and disabled patients to see their general practitioners and pay subsidised polyclinic rates will be extended from 65 yrs old to 40 yrs old is too generous. 40 yrs is not considered elderly. It is OK to subsidise for disabled but not 40 yrs old. Since CPF cut comes in at 50, the subsidy could start at 50yrs. If want to be more generous, may be start at 45 yrs (retrenchment age). Tax payers may start to worry about this as this would  NOT  be the last as there are more to come and slowly we will sink like the european countries.
     
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