Thursday, February 12, 2009

Behold, Rough Sea Ahead!

Another scandal! This time around, 696 fat cats are produced! US is fast becoming the kingdom of fat cats. Investors' confidence must be near all-time low.

On local news, 650 jobs axed at STATS ChipPAC. Of significance is that STATS ChipPAC is 83 per cent owned by Singapore investment company Temasek Holdings. And this coming so soon after the announcement of the Jobs Credit scheme as part of the Resilience Package to retain jobs for locals, makes a hypocrite out of the government.

I'm hoping to hear what PM Lee has to say. Yet, I wouldn't be surprised to hear only awkward silence, or a slap on the wrist, ever light.

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