新年快乐

新的一年又来了。不知不觉就要到中年。今年希望能脾气收敛一点，做事积极一点，心情开朗一点。

Dutch disease

Dutch disease is a situation when foreign demand for an export drives up the exchange rate of the country, making the rest of the country's product less competitive. During 1970, when natural gas deposits was discovered in Netherland, the increase in the exchange rate caused the manufacturing products to be less competitive.

Malaysia has long enjoyed the advantage of petroleum exploration. However, over-reliance by the government on the revenue from petroleum exploration has made the country's manufacturing sector complacent. Hicom, Proton and numerous other large government projects has received bailout from Petronas during Asian financial crisis.

Petroleum, although a valuable resource, had created hurdles for Malaysia to achieve economic excellence, instead of helping economic growth.

Individual Integrity

Profit reported is a representation by the management that they believe hand on heart that this is what the company will achieve for the benefit for the shareholders collectively. However, too often, that these reprentation has been followed with series of adjustments or later on provisions to the profit that they represented and was rewarded for.

Too some extent, this is the result of dilution of individual integrity in company management. Such integrity cannot be substituted by government regulation, what Obama is propogating or corporate governance.

Integrity needs to be the first and upmost criteria when it comes to management selection. When company you invest in changes management or MD, please make sure to ask the question, " Mr MD, have you been honest in all your dealings so far?"

Irrelevant

MCA is irrelevant.

It is irrelevant because it has not done any good for the Chinese community, or extending beyond that, the citizen of Malaysia. Much like their sister party MIC, MCA is now, more than ever, fested with corruption and in-fighting. Its leadership too occupied with internal conflicts to do any meaningful contribution to the Chinese society.

As far as my memory could look back, I cannot recall any fond memories I have with MCA, beside the effort of Michael Chong. I could remember the misappropriation of the Kojadi funds, I could remember the internal conflicts of all the leaders going back to Tan Khoon Suan, and the countless back to back corruption charges that is tagged with his name.

Both Chairman and Vice Chairman should step down and accept the result of the EGM. MCA will only further erode under their misguided 'leadership' and will eventually become irrelevant.

The party is no longer worthy of your time or support. Its time for the Chinese community to move on.

JP Morgan

好久没发up风，今天来update以下。

最近读Alan Greenspan的书，获知JPMorgan原来是一个十九世纪的银行家， 当时金融业的风云人物，对国家社会（如， 美国铁路，US Steel铁厂， GE）的发展有莫大的贡献。

今天的银行家大多都以谋利当前， 个个都想尽快发达，对社会是没什么贡献。虽然，国际金融风暴把许多丑陋的一面都揭开，但凭没有任何的改变。银行的首要执行员还是依旧，马照跑，舞照跳。经济全球化，贸易开放，把人们的脑袋都在想赚钱。社会公益，道德都被抛于脑后。可悲，可悲。

管制

最近许多政府提倡在金融界多施加管制。从市场经济来说，这是一项double edged sword, 因为它可能为市场，投资者带来恢复信心，可是也可能是金融业的一项绊脚石，为公司增加负担，从而降低生产率和投资者回报。 美国经济发展最蓬勃是在市场开放的阶段。这回奥巴马要以管制来复苏经济，只能让时间来证明。

行政

最近，由于公司削减资源，停止福利，引起员工对政策上许多不满。小弟也在许多课题上与上司争论不休，和高层有许多冲突。终觉得公司定下的目标，与实行的政策都不一致。讲一套，做一套， 非常恼怒。比如，公司想提高盈利，却没定下明确的方针；想重组运作流程到海外，却保持不到效率水平；计划定下后，一年改三遍搞到公司乌烟瘴气，员工士气低迷，疑云重重，不知去向。

其实，行政对公司是否那么重要。跨国公司都以高薪聘请这些行政人员，除了会裁员，合并，拿钱，到底还会些什么？没有了这班人公司还是否能够运作？

小弟对这般人的期望或要求是否不合理？如大家有高见，请指点指点。