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Do Singaporean workers deserve the salaries they are paid? Is he/she really more analytical, creative, articulate and productive than our Asian counterparts let alone those in the developed countries of Switzerland and Germany?

Do S’porean workers deserve their wages?

Monday, Jul 01, 2013

Han Fook Kwang

The Straits Times

Do Singaporeans deserve the salaries they are paid?

That was the pointed question posed by a reader responding to a piece I wrote on how median wages had stagnated in recent years despite a growing economy (The Sunday Times, June 16). He didn’t think it was surprising because, to put it bluntly, that’s what they deserve. This was how he put it, which I’m quoting extensively because his perspective is worth airing even if it’s painful to hear: “Singapore’s median income of $3,000 per month is fairly high if converted to local currencies of neighbouring countries such as Malaysia, the Philippines, India and China. Does the average Singaporean worker deserve this premium? “Is he/she really more analytical, creative, articulate and productive than our Asian counterparts let alone those in the developed countries of Switzerland and Germany? Read more of this post

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John Mackey, the ‘father’ of the natural food retailer Whole Foods Market explains why he is a visionary pragmatist

une 30, 2013 1:08 pm

John Mackey, Whole Foods Market

By Andrew Hill

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Consciousness-raising: John Mackey believes Whole Foods Market proves business can help solve global problems

John Mackey blames Jean-Paul Sartre. As a philosophy student at the University of Texas in the 1970s, the co-founder of Whole Foods Market was obliged to read the French sage’s existentialist work Being and Nothingness: “It’s this massive tome, this great work and it is boring, boring, boring … One night I just threw the book down and said I’m never going to read another book in my life I don’t want to read.”

He decided he would not take another class he did not want to take (he signed up for 120 hours of elective courses instead, finishing with no degree) and ultimately concluded: “I’m not going to ever do anything in my life again … that isn’t speaking to my own sense of purpose.” Read more of this post

This weekend celebrates Jakarta’s 486th anniversary: Fatahillah, a Javanese general, conquered the port of Sunda Kelapa, driving out the Portuguese and naming the area Jayakarta, meaning “great victory.”

Ondel-Ondel Take to the Streets for Jakarta’s Anniversary

By Lenny Tristia Tambun on 11:10 am June 29, 2013.

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Workers decorate the car ornament for carnival at Monas park on June 26, 2013. The creations are designed to enliven Jakarta’s anniversary ‘Jakarnaval’ celebrations, scheduled for June 30.

This weekend’s Jakarnaval, part of celebrations for Jakarta’s 486th anniversary, will feature around 1,500 participants presenting colorful artistic and cultural creations. Read more of this post

TSMC Shakes Up Apple-Samsung Partnership

July 1, 2013, 3:49 AM

TSMC Shakes Up Apple-Samsung Partnership

By Lorraine Luk and Min-Jeong Lee

Taiwan Semiconductor Manufacturing Co. 2330.TW -2.70% has pulled off its biggest coup yet: winning over Apple AAPL +0.69% Inc. as a chip client and, in the process, giving heavyweight rival Samsung Electronics Co. 005930.SE -1.19% a poke in the eye.

It’s no surprise that Apple would seek to move away from Samsung as their competition in the smartphone market becomes more heated.  But TSMC may have to wait a while to feel the full benefit of Apple’s switch, analysts say. For the next year, at least, Samsung will still be supplying chips to Apple. Read more of this post

Levying the land: Governments should make more use of property taxes

Levying the land: Governments should make more use of property taxes

Jun 29th 2013 |From the print edition

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TAXES on property go back a long way. Ancient civilisations from Greece to China had levies on land. In 11th-century England the Domesday Book, a record of who owned what land, documented William the Conqueror’s tax base. Britain had a window tax in the late 17th century, well before it introduced an income tax. In America local governments have raised money from property taxes since the colonial era; the federal income tax has been in place only since 1913. Read more of this post

Money to be made by forensic accounting; And it can also be a useful tool to hunt down market inefficiency

June 30, 2013 2:00 pm

On Monday: There’s money to be made through forensic accounting

By John Authers

And it can also be a useful tool to hunt down market inefficiency

The words “forensic accounting” conjure up images of detectives on the hunt for corporate malfeasance. By such means were frauds like Enron hunted down. But it is also a way to hunt down something much more prosaic: market inefficiency. And if harnessed correctly, it could prove to be a way to make money. Aggressive accounting and earnings management may be quite legal, but when companies use them, it is a great sign that they are running into trouble, at least relative to their peers and to the expectations for them. Measure aggressive accounting well and there is money to be made. With the second quarter just ended, and a new earnings season about to begin, it is an important point to remember.

Read more of this post

The Fascinating Rise Of Reese’s Peanut Butter Cups

The Fascinating Rise Of Reese’s Peanut Butter Cups

EMILY UPTON, TODAY I FOUND OUT JUN. 30, 2013, 11:13 AM 2,222

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A popular chocolate cup filled with delicious peanut butter, Reese’s Peanut Butter Cups were created by a man named Harry Burnett (H.B.) Reese.

Reese was born May 24, 1879 in Pennsylvania to a farming family. He married in 1900 and went on to have sixteen children. (Yes, 16!) By 1903, not surprisingly, he was struggling to support his growing family, so took on all manner of jobs from butcher to factory worker.

In 1917, Reese found an advertisement to work on a dairy farm owned by Milton S. Hershey, owner of the Hershey Chocolate Company, in Hershey, Pennsylvania. Read more of this post

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