Monday, January 28, 2008

When the buying stops, ...


Not only will the killing stops, inflation will slow too.
Property transactions slowing.
Extreme cash over valuation for HDB is unsustainable.

Expensive Chinese New Year's bashes at restaurants are still all book up.

Bak kwa prices (I am not crazy about it) are going up to as high as gold prices.

ERP gantries are springing up here and there and will cost 50cts more from tomorrow.

Stock markets have been correcting.

Interest rates are going southward.

Bottomline - I am not buying any New Year decor for this New Year. I am trying not to buy anything. Can you too?

Monday, January 14, 2008

How to cooperate and make money together albeit illegally..

Huh?

What happened?
A couple of days ago, several pest control companies were penalised for rigging the tender process of their customers.

For example
A hospital would require the service of a pest control service provider to maintain its premises. The hospital would then place that contract up for tender. It would invite the various "large" such providers to submit their bids.

But the service providers are few enough in this market for them to come "together" to agree on an "arrangement". It was to ensure an "orderly" market for the various participants in the arrangement ie. the whole Singapore customers are properly distributed to the participants at the "right" price. No need to undercut each other. Everyone would get a decent meal. Can you imagine them sharing the business from hospitals, clinics, factories, restaurants, government etc etc etc.....

I guess it was a wonderful arrangement probably for years until someone accidentally forwarded an email wrongly to a customer with details of the "arrangement". The customer exploded and the 5 or 6 pest control companies got penalised.

Moral of the story
Don't use email or put such details down in black and white. Just kidding la. Seriously, don't play this type of game.

Thursday, January 10, 2008

Do you need a PhD to understand taxi's pricing structure?

I just wonder whether our taxing pricing structure is getting too complicated. As I am not a regular patron of taxi service, I am really at the mercy of the taxi driver when it comes to the billing/fare calculation.

The taxi fare in Singapore is dependent on the following:-

- which company's taxis did you take?,
- type of taxi ie. big, small, Merz, etc etc
- time of day you are taking the cab,
- did you pass through any gantry? Pricing of gantry vary over the day?
(Did I miss out anything?)

Are you very clear about the pricing menus of the various types of taxi as a passenger?

Moral of the story
I need a Phd to understand the economics of taxi in Singapore.

Uncle taxi driver, did you get a pay increase?

The newspaper has reported that taxi drivers are getting 10-15% higher collections. May I know are there many of you out there with such wonderful experience?

Recently the Authority ran a blitz on those touting taxis who were overcharging customers. I support the action indeed.

Recently the papers also reported a single taxi driver who decided to unilaterally "advertise" its lower fares to attract customers. But the owners of the fleet said no to such actions which was deemed to be undermining the system. The poor chap was just trying to make an honest living.

The moral of the story
So in Singapore, as a taxi driver, you can not overcharge and you cannot undercharge openly.